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Salvage Division News

04 Feb 2022

Drifting Ship Hits Tennet's HKZ Beta Platform Jacket

Screenshot from the Dutch Coast Guard's video

A cargo ship was cast adrift by storm Corrie on Monday in the Dutch North Sea, in the area where grid operator TenneT is building two transformer platforms (Hollandse Kust Zuid Alpha and Beta) for the connection of the offshore wind farm Hollandse Kust Zuid that is being built by Vattenfall. "TenneT is currently working on the Hollandse Kust Zuid Alpha platform. Fortunately, the situation was safe for the 100 or so employees present and there was no need to evacuate," Tennet said Tuesday.However…

14 Apr 2016

US Navy Sailors Reflect on Capt Phillips Rescue

Maersk-Alabama Capt. Richard Phillips, right, stands alongside Cmdr. Frank Castellano, commanding officer of USS Bainbridge after being rescued by U.S Naval Forces off the coast of Somalia. (Official U.S. Navy photo)

U.S. Navy sailors aboard amphibious assault ship USS Boxer took time to reflect on the anniversary of the rescue of Capt. Richard Phillips from Somali pirates in the Gulf of Aden seven years ago. Phillips was rescued April 12, 2009 by special operations personnel aboard USS Bainbridge and transferred to Boxer for medical evaluation and care. Boxer also served as a staging platform for the rescue operation. “This is a great reminder of the flexibility and warfighting spirit USS Boxer exhibits; always ready to respond, no matter the crisis, operation or mission,” said Capt.

26 May 2015

ARDENT: The New Name (& Familiar Face) in Maritime Salvage

Peter Pietka

Last month Svitzer and Titan Salvage announced plans to merge their salvage operations. Peter Pietka, former chief executive of Svitzer Salvage, takes the helm of the new combined company – to be dubbed Ardent and headquartered in Houston – on May 1. Maritime Reporter & Engineering News spoke with Pietka for insights on the path ahead. Svitzer, the salvage division of AP Moller-Maersk and Titan Salvage, a division of Crowley Maritime Corp., will effectively meld two of the enviable corporate cultures in the maritime world…

21 Apr 2015

Titan, Svitzer Merger Creates Global Salvage Giant

Svitzer, salvage division of AP Moller-Maersk and Titan Salvage, a division of Crowley Maritime Corp are merging their salvage operations to create a new market leader. In this US in shipping’s latest consolidation move, Svitzer is joining forces with Titan Salvage under a new brand called Ardent. Ardent will collaborate Svitzer Salvage’s worldwide network of tugs and emergency response experts combining with Titan’s experience in the wreck-removal business. Peter Pietka, the chief executive of Svitzer, who remain in the post at Ardent, commented: “The company will become an industry leader in wreck removal and emergency response. The joint venture formed with effect from 1 May and will be headquartered in Houston, Texas.

04 Oct 2013

Treasure Hunters, GME, Seek Funds For Deepwater Salvage

Image credit GME

Florida-based Global Marine Exploration, Inc. (GME) seeks to raise $12 million dollars to continue development of their deep underwater salvage division GME Deep . This effort is the next step in the company's plan to rescue billions in gold and treasure from the ocean depths. GME, in collaboration with world-renowned shipwreck explorer and archaeologist Sir Robert Marx, will be hosting a private investment event in Orlando, Florida. Investors will be treated to an in-depth look at the new age of historic shipwreck exploration.

16 Mar 2010

MAN Diesel L27/38 Engine for Tugs

The VB Bravo pictured during sea trials (Photo courtesy MAN Diesel)

MAN Diesel Spain has been active within the tug segment recently, having played a key role in three orders that contract the company to supply 18 MAN Diesel L27/38 engines to Boluda Corporación Marítima, Spain, the international marine group and shipbuilder. The engines are destined for nine newbuilding tugs; ten engines were already delivered in 2009 with the remainder due in 2010/2011. The three orders encompass two engines for the V.B. Bravo, owned by Boluda Corporación Marítima through its subsidiary AUXMASA…

20 Sep 2009

NYMH Executes Purchase Contract

NYMET Holdings Inc. (PINKSHEETS: NYMH), a metals and mining company headquartered in Port Jefferson, N.Y., announced the successful execution of a Lease Purchase Contract to acquire a marine salvage and storage facility located in Stockton, Calif. The acquisition, which includes two waterfront parcels, as well as riparian rights, provides NYMET a strategic location to expand their Marine Salvage Division for scrap metal recovery. The property, located on the waterfront of the San Joaquin River, in Stockton, Calif. will provide NYMET the ability to process and transport scrap metal derived from the salvage and ship breaking opportunities available on the west coast of North America. The facility provides access to the Delta waterway as well as the ability to park salvage barges.

15 May 2009

SMIT Achieves Net Profit of $38m in Q1 2009

SMIT net profit in the first quarter of 2009 amounts to $38m. The result includes a net contribution of $13.5m from the financial settlement of the Thunderhorse project. Without this exceptional income item, net profit from normal operating activities showed a limited decrease compared to the first quarter of last year. This is mainly due to a lower profit at the Harbour Towage Division and a reduced supply of work at the Salvage Division. EBITDA rose considerably (including the Thunderhorse contribution and the results of associated companies) as compared to the same period in 2008. SMIT’s CEO, Ben Vree, said, “It is obvious that the present recession affects our industry as well.

20 Apr 2009

Multraship and Mammoet, Croatian Clean Up

Netherlands-based salvage specialists Multraship Salvage and Mammoet Salvage have successfully completed the removal of the wreck of a floating dock which sank in June 2007 at the Viktor Lenac shipyard, Rijeka, Croatia. The 541 ft Floating Dry Dock No. 7 weighed 7,000 tonnes and sank in 72 ft of water after an electrical power supply failure. Two previous refloating attempts had failed and after a thorough survey and testing of tanks it was decided that refloating of the dock was not feasible.

10 Mar 2009

Smit Internationale NV Exceeds Record

•    Operating result for Harbour Towage increases, partly because of the extended interest in URS. •    Commencement of new contracts leads to growth Terminals. •    Result Salvage exceeds historical average. •    Considerable increase result Transport. •    Strongly improved result Heavy Lift in second half of the year. •    Net profit increases from EUR 105.6 million to EUR 107.8 million. •    Operating result increases 19% from EUR 94.7 million to EUR 112.5 million. •    EBITDA (including associated companies) rises 26% from EUR 159.4 million to EUR 201.0 million. •    Net profit per share decreases 9% from EUR 6.68 to EUR 6.11, owing to the issuing of shares. •    Proposed dividend per share remains EUR 3.00.

15 Dec 2008

Titan - Schwall VP, Reed General Manager

Titan Salvage, Crowley Maritime Corporation's salvage and wreck removal company, announced that Dan Schwall has been promoted to vice president and Phil Reed has been promoted to general manager, salvage and engineering. Both promotions become effective January 1, 2009 and both Schwall and Reed will be domiciled at the Pompano Beach, Fla. headquarters. Schwall will report directly to Todd Busch, senior vice president and general manager of Crowley's technical services group. In…

06 Feb 2008

Bourbon Presents Horizon 2012 Plan

In February 2006, Bourbon announced the Horizon 2010 plan, a strategy based on an original vision of the market and substantial investments in a modern fleet. In February 2008, Bourbon is announcing its Horizon 2012 strategic plan, which continues and prolongs its outlook. Chairman and Chief Executive Officer Jacques de Chateauvieux explains: "This new strategic plan is an extension of our 2010 horizon to 2012. It again illustrates the ongoing improving approach adopted by BOURBON which, based on continued analysis of changing demand, positions itself as a leader in trends. By anticipating services and resources today, by expanding our offer, we will confirm our position in 2012 and beyond as a leader in modern offshore oil and gas marine services.

21 Nov 2007

Smit International Expects Higher Net Profit

SMIT announced that it is expecting a growth in net profit of around 35 percent for 2007 compared to 2006. On July 27, SMIT announced that it was expecting a considerably higher profit over 2007 than the net profit of EUR 75 million over 2006. The company said all divisions performed well, in particular the Salvage Division due to a high activity level during the second half of this year. In addition a number of salvage jobs from previous years have been settled. Settlements for the “Thunder Horse”, “Development Driller 1” en “Arctic 1” have not yet been concluded and therefore have not been taken into account.

16 Aug 2007

Smit Profit Soars 60%

Smit International announced that its mid-year results saw profits soar 60% from EUR 29.7 million to EUR 47.5 million, driven by an extremely busy six months and good results in its salvage division, and strong pricing and utilization in its Transport & Heavy Lift Division. "The exceptionally high results in the second half of 2006 were continued in the first half of 2007, with our net profit rising 60% relative to the first half of 2006,” said CEO Ben Vree. “Particularly the more volatile Salvage and Transport & Heavy Lift Divisions put in a good performance. The contribution of the Terminals Division decreased slightly in the first half of this year due to the transfer of our subsea activities to the Transport & Heavy Lift Division.

09 Feb 2007

Smit Intl. Profit Nearly Doubles

Smit International reported that its profit for 2006 will amount to approximately EUR 75 million, almost twice the net profit compared to the year 2005 (EUR 38.3 million). During the second half of last year the harbor towage activities in Rotterdam and Antwerp exceeded expectations. This was mainly due to strong winds. The Salvage division also experienced an extensive workload during the second half of last year. In addition a number of settlements have been reached. The Salvage division’s results were substantially higher than the historic average. The projects ‘Thunderhorse’ and ‘Artic I’ have not been settled yet. In the second half of 2006 the Transport & Heavy Lift division experienced a high utilisation, mainly due to the high workload from the Salvage division.

13 Sep 2006

Bourbon Reports Increased Operating Income

Gross Operating Income totaled $146.2m or 115.1 million euros, up 12.7% in the first half of 2006. Division was impacted by lower cargo rates. Operating income rose 7.6% to $90.4m or 71.2 million euros and reflects the increase in amortization and depreciation due to the rise in the number of vessels in the fleet. The Group share of net income in first half 2006 was $66m or 52.2 million euros. possible by the sale of the Vindemia shares in the second half of 2005. Finally, Bourbon recorded capital expenditures of $307.5m or 252 million euros for this half. "The Offshore Division and Towage & Salvage Division recorded very strong operating results.

11 Aug 2006

Bourbon Reports Strong Growth

“Increase business in the first half of 2006 was another successful step in the Bourbon growth plan", said Chairman and Chief Executive Officer Jacques de Chateauvieux. Bourbon’s first half revenues totaled 345.7 million euros, up 14.6% compared with the same period in 2005 (+11% at constant exchange rates). The Offshore Division, which is the beneficiary of the largest portion of Bourbon’s investments within the Horizon 2010 plan (1,230 million euros), remains the growth driver for the company. Revenues for the Offshore Division rose 32.4%, or 27.1% at constant exchange rates, over the same period in 2005. This growth reflects the implementation of the 2003-2007 plan and was driven in the first half by the delivery of 15 new vessels (6 supply vessels and 9 crewboats).

23 Jul 2003

News: National Salvage Conference Set for September 9-11

The 2003 National Maritime Salvage Conference, sponsored by American Salvage Association (ASA), will take place September 9-11, 2003 at the Marriott Crystal City in Crystal City, VA. The first day of the conference, Tuesday, September 9, will offer a training seminar focusing on Salvage Contracting, a Mock LOF (Lloyds Open Form)Arbitration Proceeding, and a complete discussion of Salvage Plans. The conference program for September 10-11 will include discussion of Maritime Security, Wreck Removal, Contracting, U.S. Salvage Regulations and the International View of the Salvage Industry, Training, Marine Casualty Response at the World Trade Center, Responder Immunity, Salvage and the Environment, Incident Command Structure (ICS), Fire-fighting, and more.

05 Aug 2003

Salvors Forge Their Way into the Future

Maritime Reporter solicited the opinions of two of the leading marine salvage companies to discover trends and challenges facing marine operators in the near future. The 2003 National Maritime Salvage Conference, sponsored by American Salvage Association (ASA), will take place September 9-11, 2003 at the Marriott Crystal City in Crystal City, VA. For more information visit www.americansalvage.org. George E. Senior Vice President Weeks Marine, Inc. MR: How has the industry/your company changed since 9-11? Wittich: The salvage industry has a critical role to play in assisting the various government entities manage their maritime security mission.

09 Feb 2006

Smit Intl. Earnings Up 40%

Smit International NV announced that net earnings for 2005 have risen by nearly 40% to EUR 38.3 million. Despite facing a heavier tax burden of 30% (up from 24% in 2004), the divisions Harbor Towage, Terminals and Transport & Heavy Lift achieved better results in comparison to 2004. The Salvage division performed well above the so called historical average. SMIT has served the maritime sector for more than 160 years. • Harbor Towage: harbor towage services and related maritime services. terminals. • Salvage: salvage, wreck removal, environmental protection and consultancy. marine support to a variety of civil and offshore projects.

28 Feb 2006

Bourbon Sets Course for Massive Expansion

Bourbon plans to invest more than $1.7 billion in new vessel construction through 2010, according to the company’s CEO Jacques de Chateauvieux, who held a conference call from his Paris office this morning. The company, which has been on a major newbuild spending spree in its transformation to a maritime powerhouse, at the end of 2006 will own a fleet of 264 vessels, including 192 in its Offshore division, 66 tugs in its Towage and Salvage division, and six bulk carriers in its bulk division. The company is particularly bullish on prospects for the offshore business, as nearly $1.46 billion of its investment through 2010 will focus on the offshore market.

27 Apr 2006

Bourbon Orders 12 New Harbor Tugs

the Damen shipyards in China. and international ports. to Les Abeilles. placed in 1998 for the construction of 14 tugs. segment. technical improvements. efficiency. capacity from 57 to 65 tons. tonnage of the vessels towed. fire-fighting capacity. Deliveries are scheduled between October 2007 and the end of 2008. assistance business. Drive propulsion and fire-fighting capacity. series effect. appreciated by clients. until July 2008.

11 May 2006

BOURBON Releases 1Q Results

BOURBON's first quarter 2006 revenues totaled $219m, an increase of 21.5% compared with the same period in 2005 (14.7 % at constant exchange rates). In its Offshore Division, BOURBON saw revenues of $101m at the end of March 2006, up 32.9 % . The offshore oil and gas marine services recorded very strong growth, except in the North Sea. The Towage & Salvage Division reported revenue growth of 18.5% in the first quarter of 2006 against the backdrop of a strong market, particularly in the international segment. The Bulk Division recorded revenues of $52.3m at March 31, 2006, down slightly as expected from the same period in 2005. This change was driven by the combination of two opposite trends over the period: an increase in the volume shipped…