Varun Shipping to Invest $300m
Varun Shipping reportedly will invest $300m to buy at least four new vessels in the offshore segment this year, according to a Reuters report. Varun is positioning itself to expand its presence in the offshore segment, the news organization said, quoting a leading Varun executive. Freight rates in the offshore segment has risen around 15 percent due to higher crude oil prices, which hit new life highs in 2008, crossing $120 a barrel on demand growth. (Source: Reuters)
Navy Develops Prototype for Diver Life Support
Scientists at Naval Surface Warfare Center Panama City (NSWC PC) have developed a prototype for a new life support system for divers, the U.S. Navy announced. According to the Navy, the goal of the new system is to accelerate the deployment of Navy divers, increase safety and also conserve helium, a valuable natural resource. "This new, semi-closed system was conceived to drastically reduce helium requirements," said NSWC PC Principal Investigator Dr. John Camperman. Currently, U.S.
Le Havre, Larger Port for Cruise Ships
Le Havre, a French cruise port on the European west coast, has the capacity to host the biggest cruise ships in service in the world. This spring, Le Havre will see the completion of a $1.36m project that added facilities to accommodate up to 500 passengers. The new accommodations, to be completed by March of this year, will help Le Havre meet cruise lines' expectations. In terms of traffic Le Havre expects another great year for 2010: 67 calls totaling 115,000 passengers are scheduled -- up 25 percent from last year.
Older Markey Equipment Doesn’t Fade Away ...
It Just Comes Home for New Life. The late W.C. “Bill” Markey, President of Markey Machinery for over 40 years (1948 to 1988) coined a simple phrase for the company’s design philosophy, “Built Hell For Stout”. As a result, an extraordinary number of Markey deck machines manufactured during that era (and after) are still in service today. As a result, customers often contact Markey for service parts and/or complete overhaul of a winch that is over 50 years old. Much of the company’s…
Noreq Aids Greek Cruise Ship
On August 7, the cruise ship Thomson Spirit collided with another cruise ship, Ocean Majesty - on the Geirangerfjord in Norway. A lifeboat and the davit for a tender vessel were damaged which resulted in Ocean Majesty being refused permission to continue its cruise. No passengers or crew were injured. Noreq AS, a Norwegian manufacturer and equipment supplier, helped the Greek shipping company. A temporary solution was found in record time, and the ship was allowed to continue its voyage to Iceland. The solution was to installa new life-raft davit, ensuring the necessary safety until the shipping company is able to repair or replace the damaged lifeboat and davits.
Hvide Marine Emerges From Chapter 11
Hvide Marine Incorporated has completed its exit financing arrangements and that its Plan of Reorganization has become effective, thereby marking the company's formal emergence from Chapter 11, 98 days after its initial filing on September 8. "This is a historic day for the Company," said Jean Fitzgerald, Chairman, President and CEO. "We have put Chapter 11 behind us and, in the process, shed more than $430 million in debt and reduced overhead costs substantially. As previously announced, the exit financing facility is being provided by a group of financial institutions led by Deutsche Bank and consists of $200 million in term loans, a $25 million revolving credit facility, and $85.5 million of proceeds from senior secured second lien notes.
QE2 to Hoist Blue Peter Again
Dubai's QE 2 Holdings Ltd. chairman, His Excellency Khamis Juma Buamim, sets out his company's vision of a new life for the veteran cruise liner – as a hotel ship – in his speech to dignitories. Outlining the work that has been completed, the chairman provided details of the transfer of ownership of the vessel to a new entity called QE2 Shipping LLC, based out of & owned by Dubai & that all necessary registry documentation with the flag state on the ownership of the vessel had been completed.
Alewijnse: Big Rig Conversion Project
Alewijnse Marine Systems will play a significant role in the conversion of the jack-up drill rigs Atlantic London and Atlantic Amsterdam to offshore hotel accommodation. Both refits will start in July 2012 and take several months to complete. This order is from Nordica Offshore. Atlantic London is due to arrive at the ASL Shipyard in Batam, Indonesia next month, while the Atlantic Amsterdam will arrive at Scheldepoort Repair & Conversion Yard in Vlissingen around the same time.
New Zodiac Escape Slide for Passenger Vessels
Zodiac SOLAS, Chevanceaux, France, has developed a new escape slide system for small to medium-sized ships and high speed craft. The new Zodiac SOLAS MES MIS (Marine Evacuation System – Medium Inflatable Slide) is a double track slide that can enable the evacuation of 731 passengers in 30 minutes when used with Zodiac’s Throw Over 150 person canopy life rafts. When used with Zodiac’s Open Reversible Inflatable 151 person open life rafts, 397 passengers can escape in 17 min 40 sec. Although the new system is only now being formally introduced to the market, it has already been attracting considerable interest from shipbuilders. The first…
FitzWright Liferaft Avaiable in Canada
The New Fitzwright Liferaft is now available in Canada. FitzWright Survival Inc., has been recognized for over 30 years as one a high quality manufacturer of Life-Saving Equipment in Canada. FitzWright is proud to announce that it has expanded its product offering under the FitzWright Brand to bring a far greater variety of products to the market. The showcase of this new Life-Saving Equipment Program launch is FitzWright’s NEW Transport Canada and SOLAS Approved Liferafts. The FitzWright Liferafts have been designed and built to not only meet the challenging approval requirements…
Allianz Reports Strong 2Q 2014 Results
Allianz Group achieved strong results in the second quarter of 2014. Total quarterly revenues increased 10.0 percent to 29.46 (second quarter of 2013: 26.78) billion euros. Operating profit climbed 17.1 percent to 2.77 (2.37) billion euros. Net income attributable to shareholders amounted to 1.76 (1.59) billion euros, an increase of 10.5 percent. In the first half of the year, Allianz Group reported the highest total revenues in the company’s history. Total revenues rose 7.8 percent to 63.42 (58.82) billion euros.
Ocean Exploration Vessel Will Knock on Neptune's Door
A new ocean exploration vessel, 'SeaOrbiter' which the designer claims will provide permanent and continuous observation and research operations at the heart of the ocean is almost fully funded, ready to be built. Jacques Rougerie describes himself as a visionary architect who aims to deliver a new vision of underwater exploration with his SeaOrbiter, the culmination of over 30 years of research dedicated to bionic marine architecture and exploration of the undersea world. Internationally renowned…
With New Project, BP Breathes Life into North Sea
BP has started production at an oilfield in the North Sea after a $5.7 billion redevelopment, one of the largest such projects there in recent years that will breathe new life into the ageing offshore basin. The Quad 204 project in the western Shetland region, also knows as Schiehallion, is expected to ramp up production throughout 2017 to reach a level of 130,000 barrels per day, BP said in a statement. The Schiehallion field was first developed in the mid-1990s. The 4.4 billion pound project, which was sanctioned in 2011, will unlock an estimated 450 million barrels of oil and gas, extending its life into 2035. The upgrade includes the construction of a giant floating…
Nearly 9,000 Med Migrants Rescued over Weekend
Nearly 9,000 mainly African migrants were rescued in the Mediterranean this past long weekend after being put by smugglers in Libya onto unseaworthy boats heading toward Italy, U.N. aid agencies said on Tuesday. The migrants, many from Nigeria and Senegal with some from Bangladesh, are among an estimated 20,000 held by criminal gangs in irregular detention centres in Libya, the International Organisation for Migration (IOM) said. On release, they pay to board the overcrowded boats, often just inflated rubber vessels that could not cross the Mediterranean, in the hope of starting a new life in Europe. "It is obvious that better spring weather has encouraged smugglers to take people from their detention centres," IOM spokesman Leonard Doyle told a news briefing in Geneva.
Pollution Liability Underwriters WQIS, Make Appointments, Share Business Insights
WQIS has learned that even market leaders and pioneers need to stay dynamic and never get complacent. Shaking things up can break barriers for even the strongest organizations. By insuring some 35,000 vessels, across every major waterway in the US, WQIS says it has earned the backing of 16 of the largest insurance companies in the United States. For a company with these credentials, it would be easy to settle into a routine. “Just because we’re the market leader does not mean we can get comfortable in our position,” says WQIS CEO, Richard Hobbie. “We are always setting new goals for ourselves to be the ultimate resource for our clients. In the last few months, there has been an influx of talent to support the strength of WQIS, especially the underwriting and claims departments.
Battleship New Jersey Appoints New Trustees
The Home Port Alliance for the USS New Jersey, America's most decorated battleship, together with Troy Collins, CEO of the Battleship New Jersey Museum & Memorial, announce the appointment of six new members to the Board of Trustees. Co-chaired by John Matheussen, CEO of the Delaware River Port Authority and Patricia Egan Jones, Camden County Surrogate, the Board, established in 1998 to facilitate the Battleship's return to its permanent berth on the Delaware River's Camden Waterfront across from Center City Philadelphia, has spearheaded the ship's massive restoration and new life as a living, breathing history classroom and signature waterfront attraction for veterans, patriots, families and students from around the world.
Famine Ship Still Stuck In Ireland
Plans to sail a replica of an Irish famine-era ship across the Atlantic have been abandoned for the second year running because the vessel is still not seaworthy. The decision to call off plans to sail the "Jeanie Johnston" to North America this year was taken at a board meeting of the project organizers after a marine expert reported the vessel would not be ready in time. The ship was originally due to sail from Tralee on Ireland's southwest coast in May last year, but the voyage was postponed until 2001 because of delays in fitting out the three-masted barque. The project has so far cost around 10 million Irish pounds ($10.96 million), and has been supported by the Irish government, European Union and private donations.
ABS’ Wiernicki Addresses Maine Maritime Academy Graduates
Christopher J. Wiernicki, chairman, president and CEO of ABS, addressed graduating students, their families and faculty members at Maine Maritime Academy's (MMA) Commencement on May 2. "It is an honor to speak with the young people who represent the next generation of maritime leaders," Wiernicki told the 248 students who received academic degrees. MMA president Dr. William J. Brennan said, "ABS has invested so much toward the success of our students. Brennan presented Wiernicki an honorary Doctor of Science degree to recognize his contributions to the global maritime industry.
Bollinger Repowers, Modifies 40-Year-Old Tug
Bollinger recently gave new life to an old boat, the 150-ft. Guardian, originally named Gale B., which was built by Southern Shipyard in 1963. It was owned by Midland Enterprises and was part of a tug/barge unit with the hopper barge Martha B. Midland sold the barge to Moran about three years ago and the tug was on the market when it was acquired by Velvet Maritime, LLC. "It was in good shape with a good purchase price," said Andre Ledoux, president of Velvet Maritime. "It had marketable power that we wanted to upgrade to meet new regulatory requirements, practically new Lufkin gears, a good Detroit Diesel auxiliary engine package, good Markey deck equipment…
Cautious optimism returns to North Sea – Deloitte
Reacting to the latest Oil and Gas UK Economic Report, to be published on Wednesday 6 September, Graham Hollis, Senior Partner for Deloitte in Aberdeen, said: “A cautious optimism has returned to the industry, as it weathers the storm of the past three years. “Nevertheless, challenges still remain for the North Sea and its recovery needs to be carefully fostered. The report shows there are a potential £40 billion worth of developments in companies’ business plans – it’s up to all of those involved in the industry to help these come to fruition, requiring a collaborative approach between government, the business community, the supply chain, and wider stakeholders. “The UKCS is vitally important to our economy and still supports more than 300,000 jobs.
Newmar Battery Chargers for Restored PT Boat
A U.S. Navy World War II PT boat, which was recently restored and rebuilt by volunteers at The National WWII Museum in New Orleans, has been equipped with modern state-of-the-art battery chargers from Newmar. After more than a decade of volunteer-provided planning and restoration work, PT-305 motored to its new home in a custom-built boathouse on Lake Pontchartrain March 25, where visitors can tour and arrange rides on the fully functioning vessel. It was a homecoming of sorts…
Scheldepoort Secures Order for Conversion of Drill Rig
Scheldepoort Repair & Conversion Yard in Vlissingen has signed a contract for the conversion of jack up drill rig "GFS Labrador" into an accommodation rig. The project will commence when the rig arrives in Vlissingen at the end of June and will take approximately 4 months. Among other things the main scope of work is the removal of the complete drilling installation from the rig, such as the 80 meter drilling tower, the sliding piece, cement and mud tanks, all drilling equipment and redundant cabling and piping.
Scheldepoort to Convert Jack-up Rig into Offshore Hotel Accommodation
Scheldepoort Repair & Conversion Yard has been awarded a contract to convert the jack-up drill rig Shelf Explorer into offshore hotel accommodation. The accommodation unit will then be known as Atlantic Amsterdam, owned by Atlantic Amsterdam Pte. Ltd. in Singapore, a subsidiary of Ezion Holdings Ltd. Scheldepoort Repair & Conversion Yard (based in Vlissingen, The Netherlands) is part of Damen Shipyards Group and specializes in modifications, repairs and refits. The yard carried out an identical project in April 2011 for the former drill rig which is now known as Atlantic Labrador.