Faced with a growing need for reliable connections to shore and increased control over variable and increasingly expensive communications costs, M. H. Simonsen ApS, of Denmark, recently adopted the TracPhone V7 and mini-VSAT Broadband(SM) service from KVH Industries, Inc. (NASDAQ:KVHI) as its primary
Krishnapatnam Port is already setting various operational benchmarks even though it is still in its developing phase. The port has achieved two milestones on 20th August ’09 by achieving an All-India record load rate in 24 hrs and turning around a cape size vessel in a record time of 48 hrs.Vessel MV.
Keppel FELS Limited is on track to deliver Gold Star, the first of two DSS 38 deepwater rigs to Brazilian operator, Queiroz Galvão Óleo e Gás (QGOG) later this year. Progressing on time and within budget, Gold Star will be the first DSS 38 rig to enter the market and
MOL (Mitsui O.S.K. Line) announced a general rate increase (GRI) on its Europe – Southern Africa trade. “We are committed to maintaining high service levels even during these difficult economic times,” said Colin de Souza, MOL General Manager, North South Trade. “However,
The Rio Magdelena flows north through Colombia to discharge into the Caribbean at Barranquilla. It is navigable for several hundred kilometers above that coastal city. Utilizing shallow draft push boats the Naviera Fluvial Colombiana SA has the capacity to move one million tonnes of oil per year in addition to 700,000 tonnes of general freight.
According to a London report issued Aug. 14, dry bulk freight rate index climbed by 2.5% on Friday at Baltic Mercantile and Shipping Exchange, a moderate rise for two consecutive days.Royal Bank of Scotland (RBS) indicated in its report that China's bulk commodity import will slow down,
Two Military Sealift Command ships conducted a training exercise off the coast of Yeosu, South Korea, Aug. 17-18, where they rehearsed the U.S. military's unique ability to deliver fuel to ground forces ashore from a tanker anchored up to eight miles from the coast. The cornerstone of this
Dockwise Ltd. announced its second quarter and interim 2009 results. André Goedée, CEO of Dockwise Ltd., commented: "Dockwise has had a good second quarter, and in quieter market conditions the business is displaying its strengths. This steady operational
In the first half of 2009, the Port of Hamburg handled a total of 54.2 million metric tons of seagoing cargo. This represents a drop of 23.7 percent in comparison to the same period in the previous year. Port of Hamburg Marketing, the marketing organization for the Port of Hamburg, reported a volume of 30 million tons of imported cargo, 26.
Skymira LLC announced that it has garnered two awards acknowledging the company’s rapid expansion and growth into a range of vertical industries with tailored remote management and communication requirements. “We are very pleased with both accolades as they are a testament
L-3 Henschel celebrated its 90th Anniversary on July 29th with a ceremony that included L-3 Corporate leadership, Commander Timothy M. Cooper, USN, the Commanding Officer of the U.S.S. Constitution, “Old Ironsides,” and representatives from the Massachusetts General Assembly. L-3 Henschel
One of the world’s largest multi-purpose offshore construction vessels (OCVs), the OSA Goliath, built for Singapore-based Coastline Maritime, has been built to ABS standards. The unit is 590 ft by 39.5 ft with a deadweight of 22,000 tons. It is equipped with a dynamic positioning rating of DP-3 and features a 2,
Despite the global recession, offshore spend is expected to grow strongly – from $578b Capex and $379b Opex over the last five years to $807b Capex and $549b Opex over the period to 2013. Exploration for fresh oil & gas supplies and development of existing and newly found accumulations from
Jacques de Chateauvieux, Chairman and Chief Executive of BOURBON, said, "the oil industry is looking to control capital expenditure and operating costs and this has led to an oil services market that is temporarily dominated by short term contracts and a reduction in usage and pricing. Nevertheless,
Waxler Transportation Co. has taken delivery of the fourth in a series of five 3200 HP pushboats. The latest sister, the Angela Jean, was delivered to Secors inland transport subsidiary in July of this year. Others in this series of 99 by 35-ft towboats are the Dylan Wexler, delivered in 2007,
The Coast Guard is releasing a new version of the CG-719 K (Merchant Mariner Credential Medical Evaluation Report) and CG-719 K/E (Merchant Mariner Evaluation of Fitness for Entry Level Ratings) forms to facilitate obtaining objective medical information which will enable the Coast Guard to make accurate
KVH Industries, Inc., (NASDAQ:KVHI) announced the successful activation of its mini-VSAT Broadband(SM) service in Asia-Pacific waters in collaboration with SKY Perfect JSAT Corporation (also known as SP-JSAT) via the JCSAT-1B satellite. This expansion expands mini-VSAT Broadband's capacity to support the world's commercial shipping market,
The Edison Chouest Offshore family of companies announced plans to design and build a series of a dozen 300-ft., 5,300 DWT deepwater diesel-electric offshore supply vessels. “Since 2003, the core of our newbuild program has been a series of 42 new generation, 4,750 DWT deepwater 280-ft.
Container lines achieved a record high on-time service reliability performance, according to Drewry Container Shipper Insight’s latest quarterly schedule monitoring survey, just published.Out of nearly 1,700 ships tracked in the three months between 1 April to 30 June, 69% arrived
Even though iron ore shipments on the Great Lakes in July were 53 percent below a year ago, the trade did show some signs of life. Loadings totaled 3.5 million net tons, an increase of 635,000 tons compared to June. The uptick in shipments reflects a slight increase in production rates at steel mills.
Tsakos Energy Navigation Limited (NYSE: TNP) reported results (unaudited) for the second quarter and first half of 2009.Revenues, net of voyage expenses and commissions, were $88.60 million in the second quarter of 2009 compared to $146.64 million in the comparable 2008 period reflecting the lower freight rate environment.
Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited.Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose
Navios Maritime Holdings Inc. (NYSE:NM) a global, vertically integrated seaborne shipping and logistics company, announced that it took scheduled delivery in June and July, 2009 of three newbuild Capesize vessels, constructed by South Korean shipyards.Navios Holdings also announced that
Tsakos Energy Navigation Limited (NYSE:TNP) announced the delivery of the double-hull DNA designed 105,000dwt Aframax tanker Ise Princess from Sumitomo Heavy Industries in Japan. The vessel is the fifth delivery in an eight vessel series. The company expects to take delivery of the remaining three vessels by May 2010.
Kirby Corporation (NYSE:KEX) announced net earnings for the second quarter ended June 30, 2009 of $33.7 million, or $.63 per share, compared with net earnings of $40.3 million, or $.74 per share, for the 2008 second quarter. Kirby's published 2009 second quarter guidance range was $.52 to $.62 per share.
General Maritime Corporation (NYSE:GMR) reported its financial results for the three and six months ended June 30, 2009. Excluding other expense, the company recorded net income of $7.7 million or $0.14 basic and $0.14 diluted earnings per share for the three months ended June 30, 2009 compared to $20.
Since rates are at an unsustainable level in the transatlantic trade, Maersk Line announced a general rate increase effective 1 September 2009. The company said the rate increase is necessary to continue to operate its services with the same level of reliability. The filed increase is as
“The TracPhone V7 and mini-VSAT Broadband are changing the entire way we do business,” explained Scott H. Bryant, captain of the fishing vessel American No.1, operated by Fishermen’s Finest of Seattle, Wa. Operators and leisure boat owners are making the change from traditional VSAT
Horizon Lines, Inc. (NYSE: HRZ), reported results for its fiscal second quarter ended June 21, 2009. On a GAAP basis, the company reported a net loss of $(31.1) million, or $(1.02) per share, on revenue of $278.5 million. The results reflect certain items, including a $20 million charge related to the
Seacor Marine christened its first CrewZer Class vessel, the Seacor Cheetah, in Galveston, Texas on Tuesday, February 12, 2008. Joyce McCall, wife of nearly fifty years to offshore industry pioneer Norman McCall, acted as the vessel's sponsor in recognition of her life-long contribution to the McCall legacy.
Northrop Grumman Corporation (NYSE: NOC) reported that second quarter 2009 earnings from continuing operations totaled $394 million, or $1.21 per diluted share, compared with $483 million, or $1.40 per diluted share, in the second quarter of 2008. Second quarter 2009 net pension adjustment (FAS/CAS)
Hercules Offshore, Inc. (NASDAQ:HERO) reported a loss from continuing operations of $7.6 million, or $0.09 per diluted share, on revenues of $183.7 million for the second quarter 2009, excluding the effects of non-recurring items, compared with income from continuing operations of $20.0 million, or $0.
Seacor Holdings Inc. (NYSE: CKH) announced net income attributable to its stockholders for the second quarter ended June 30, 2009 of $42.3 million, or $1.91 per diluted share, on operating revenues of $389.2 million. For the six months ended June 30, 2009, net income attributable to SEACOR Holdings Inc.
Tsakos Energy Navigation Limited (NYSE:TNP) announced a fixed rate time charter starting this week for the 2006-built double hull Aframax product tanker Promitheas for up to six months. Prior to this charter the vessel operated in the spot market. With the addition of this new time charter,
Genco Shipping & Trading Limited (NYSE:GNK) announced that it has taken delivery of the Genco Commodus, a 170,500 dwt Capesize newbuilding. The Genco Commodus is the seventh vessel to be delivered to the Company under Genco's previously announced agreement on July 18, 2007 to acquire nine Capesize
The latest Shipbuilding Market Forecast, published by Lloyd’s Register - Fairplay Research, predicts continued modest-but-steady growth for the passenger ship sector over the next five years. The monthly research report provides detailed analysis and forecasts covering all sectors of the passenger ship market,
The U.S. Coast Guard's Marine Safety, Security and Stewardship Directorate announced publication in the Federal Register of the final rule amending the Great Lakes Pilotage Rates for 2009.Pilotage rates on the Great Lakes will increase by 10.77 percent when the final rule takes effect Aug.
VapCor Inc. introduced HydraFlow NS Hydraulic & Gear Fluids designed to create a safer workplace in environmentally sensitive areas. HydraFlow NS fluids typically have a pour point of -60°F (-51°C) and an upper operating range of approximately 150°F (65°C). This range of usability
Accountant and business consultant Moore Stephens has warned that shipping companies must be able to substantiate any decision to use future cashflow as an alternative to broker valuations.Writing in the latest issue of the firm’s shipping newsletter, Bottom Line, Moore Stephens Technical Partner David Chopping said,
U.S. containerized imports and exports plunged 21 percent in the first quarter, with No. 2 carrier Switzerland-based Mediterranean Shipping Co. defying the trend with an 8.9 percent increase in import volume despite one of the worst periods in the history of containerized shipping, The Journal of Commerce reported.