Maritime Industry Top News
Ballard Power Posts Smaller-Than-Expected Loss
Canadian fuel cell maker Ballard Power Systems Inc posted a smaller-than-expected quarterly loss, helped by higher revenue from its engineering services and material handling businesses.
New U.S. Sanctions On Putin Allies Cause Few Ripples
The United States imposed fresh sanctions on Russian firms and government officials on Monday, a move that financial markets largely shrugged off and U.S. Republican…
General Dynamics: $17.6B Contract for Submarines
The U.S. Navy awarded General Dynamics Electric Boat a contract valued at $17.6 billion for the construction of 10 additional Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The multi-year Block IV contract enables Electric Boat and its industry teammate, Newport News Shipbuilding, to proceed with the construction of two ships per year over a five-year period. Construction of the first Block IV submarine, SSN-792, will begin May 1.
Peru OKs $1.4 Bln Exploratory Work In Natgas Block
Peru has approved an environmental permit that will allow China National Petroleum Corp to do $1.39 billion of exploratory work in a natural gas block it is buying…
New Logistics Facility Coming to Port of New Orleans
Governor Bobby Jindal and CEO Jack Jensen of Jensen Companies announced the development of a new 500,000-square-foot logistics facility by TCI Plastics – a Jensen Companies division – at the Port of New Orleans. TCI will make a $36.5 million capital investment to build the facility at its France Road Wharf hub, and the project will create 160 new direct jobs with an average salary of more than $33,400, plus benefits.
PwC: Transport, Logistics Starts 2014 Subdued
Merger and acquisition (M&A) activity in the transportation and logistics industry began 2014 on a soft note, with the total volume of deals matching the lowest…
Coast Guard to Hold Antiterrorism Exercise
Numerous local, state and federal law enforcement and emergency management agencies will be participating in a full-scale force protection exercise at Coast Guard Training Center Cape May, N.J.
China's Cosco, Five Others Interested in Piraeus Port
China's Cosco Group and five other investors have expressed interest in a majority stake in Piraeus port (OLP), the largest in the country, Greece's privatisation agency HRADF said on Monday. Cosco Group's initial interest for a 67 percent stake in OLP, is further highlighting Chinese investors' appetite for Greek assets as the state sells off parts of its businesses to go some way to balance the bailed out country's books.
Rigid Reel-Lay Pipe-in-Pipe Installed Offshore Malaysia
McDermott International, Inc. reports that its subsidiary has become the first to install rigid reel-lay pipe-in-pipe in Asia-Pacific for the Siakap North-Petai (SNP) development project offshore Malaysia. At more than 3,900 feet (1,190 meters), the SNP development is one of the industry’s most challenging deepwater projects. “Successfully installing the rigid reeled pipe-in-pipe flowlines on the Siakap project is a significant achievement for McDermott and a first for the region…
Jack-Up Barge Acquires Platform for Increased Versatility
Jack-Up Barge, the offshore self-elevating platform supplier, has announced the acquisition of the Odin self-elevating platform from Hochtief. The acquisition expands the Jack-Up Barge fleet, increasing capacity and versatility. This is a new approach from Jack-Up Barge who has previously expanded with new builds. The company will rename the barge JB 119, ready to take its place alongside the seven platforms currently operated.
XPD8 Seals Ghana FPSO Contract
Asset integrity management specialist XPD8 Solutions said it has continued its recent success in West Africa for work off the coast of Ghana. Over an 18-month period, the company will develop the maintenance program and inventory data for MODEC’s TEN MV25 floating production, storage and offloading (FPSO) vessel, operated on behalf of Tullow Oil. XPD8 is a company in maintenance engineering, condition monitoring and integrity services for the oil and gas sector.
JFMS Vessel Completes its First 2 Charters
James Fisher Marine Service (JFMS) announces the successful completion of the SMV 24 vessel’s maiden charter and immediate subsequent charter at Round Three wind farm sites. The vessel accomplished its first charter working with offshore wind energy developer Forewind to support the Dogger Bank development, and the second charter was to RES Offshore delivering services to Hornsea wind farm. Both projects delivered support to critical metrological masts for the Round Three wind farm sites…
National Oilwell Expects Offshore Rig Demand to Slow
National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders fell by nearly a quarter in the first quarter and it expects demand for new offshore rigs to slow during the second half of the year. The company's shares fell about 7 percent. Demand for contract drilling is softening as rigs ordered during boom times are being delivered now. Large oil companies are tightening spending…
ISO/PAS 28007 a Factor for Maritime Security Companies
Almost 50% of the shipping companies who took part in a maritime security survey carried out by GoAGT would only employ ISO/PAS 28007 certified companies. The leading maritime security company, which achieved this certification earlier in March and received the certificate at a ceremony recently, surveyed its clients about the value of professional standards such as the forthcoming ISO/PAS 28007 in the decision to use a private maritime security company (PMSC).
Rescuers Search San Pablo Bay for Missing Pilot
U.S. Coast Guard (USCG) and local agencies are responding to a plane crash near San Pablo Bay after two planes collided in mid-air above the Bay Sunday. At approximately 4 p.m.…
OSD Designs Windfarm Vessel Range
OSD-IMT, the U.K. division of Offshore Ship Designers (OSD), announced it has developed a range of new designs of offshore windfarm service operation vessels (SOVs). The 1,350 dwt IMT972 SOV is powered by two Steerprop SP25 or equal 1900 kWe fixed pitch azimuth propulsion units. There is also an option for fitting two 2.5 MW Voith Turbo main thrusters. Frequency-controlled electric motor-driven CPP thruster units are fitted forward…
Keppel, Seafox Partner to Build Jackups
The accommodation jackup rig with Plug & Abandonment (P&A) features will be based on Keppel’s KFELS J Class design which is suited for the harsh environment of the Norwegian North Sea. Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has signed an engineering services agreement with Workfox B.V, a subsidiary of the Seafox Group (Seafox), to embark…
Dron & Dickson Secures Electrical Equipment Contract
Dron & Dickson has secured a two-year contract with Rowan Drilling for a project that will see Dron & Dickson provide lighting and electrical equipment to Rowan Drilling’s offshore assets in the U.K. North Sea for the next two years. Tom Irwin, Business Development Manager at Dron & Dickson, said, “This contract stands as a testament to our relationship with Rowan Drilling, with whom we have been working closely with over the last few years.
Shell Says Will Comply with All International Sanctions
Anglo-Dutch oil major Shell said it will comply with all international sanctions, following a United States government decision to impose sanctions against the head of Russian oil producer Rosneft . "Shell monitors trade controls and sanctions closely and will respond appropriately to ensure that we comply with all applicable international sanctions and related measures," a spokesman said. The U.S.
Dinner Cruise Vessel Built for Chao Phraya River
Thailand has long been noted for exquisite food and gorgeous boats. In recent years these two have found luxurious expression in the growing fleet of big, low-slung dinner-cruise vessels. In 2005 we reported on a 53x11-meter vessel capable of feeding 400 people at a sit-down buffet. A pair of 640 HP Cummins KTA19 M3 engines powered this vessel. June 2014 will see the game moved up several notches when…
