New Maritime Bank Plans to Bridge Funding Gap
A team of Norway-based shipping, offshore and finance professionals intend to establish Maritime & Merchant Bank (âM&Mââ) a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide. The newly formed project company, Maritime & Merchant AS (M&M AS), will file a banking license application on behalf of M&M during the autumn of 2013.
TS Karen Approach Closes Mississippi SW Pass
Vessel traffic to vease at Southwest Pass at 6 a.m. Friday, but cargo operations at Port of New Orleans terminals will continue as scheduled Friday, despite the impending closure. The Associated Branch Pilots, the pilots that guide ships through the mouth of the Mississippi River, will cease operations at the above time. Carnival Cruise Lines has two cruise ships scheduled to berth at the Erato Street Cruise Terminal this weekend.
Saltchuk Deal Enables Foss Maritime Move
Saltchuk has signed a Purchase and Sales Agreement with Kimberly-Clark to buy a 66-acre property on the Everett waterfront, formerly home to Kimberly-Clark's pulp mill and tissue plant. The deal will initially bring approximately 250 skilled, family-wage jobs to the Everett waterfront and create a thriving/vital shipbuilding and maritime industry in the heart of Everett. Saltchuk, a second generation Northwest-basedâŚ
DONG Get Billions in Funding, Appoint New CFO
DONG Energy, a leading energy group with offshore interests in Northern Europe, announce that Goldman Sachs will subscribe for new shares for DKK 8 billion, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. Coincidentally, Carsten Krogsgaard Thomsen will step down as CFO after 11 years with DONG â¨Energy. His successor will be Marianne Wiinholt, who comes from the position of â¨Senior Vice President of DONG Energy's Customers & Markets division.
VGP-compliant Lubricants with a Pedigree
With nearly 30 years experience in producing environmentally-considerate lubricants, PANOLIN offers its VGP-compliant Greenmarine products to help owners and operators meet the imminent EPA requirements. Unlike most trying to comply with the EPA VGP, PANOLIN say that their products are not a newcomers on the market. Some of the world's largest hydraulic equipment OEMs have relied on PANOLIN products for decades.
Crowley Vessel Performs Second At-Sea Rescue in Less than a Year
The crew aboard Crowley Maritime Corporationâs articulated tug-barge (ATB) Achievement/650-8 has performed its second rescue in nine months, this time saving the lives of four individuals aboard a 30-foot fishing boat taking on water 35 miles offshore from Clearwater, Fla., during a strong storm. On the evening of September 15, the Achievement/650-8 was instructed to stand by and not proceed inbound to Tampa Bay due to a strong squall moving through the areaâŚ
Langh Ship Develops Exhaust Gas Scrubber
Although the sulphur limit for ship fuel in the North Sea and Baltic Sea is 1%, Langh Shipâs m/s Laura sails in the area with whatever fuel the charterer has found in Rotterdam, no matter how high its sulphur content. This is possible because the shipping company has equipped the vessel with a closed loop scrubber that emits exhaust gas that is even cleaner than if the fuel had a sulphur content of no more than 0.1%.
Nickel Ore Shipments: Lessons Learned from Losses
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fuelled by ChinaâsâŚ
Offshore Achievement Awards Open for Entries
The Society of Petroleum Engineers (SPE) Aberdeen Section has announced that entries are now open for the 2014 Offshore Achievement Awards. The awards, which are hosted by SPE Aberdeen with the support of principal sponsor TAQA, have recognized outstanding success and innovation in the oil and gas sector for over 27 years. Last yearâs awards ceremony attracted a record attendance of more than 530 industry professionals.
GE to Power, Propel Indian Diesel-Electric Research Ship
India continues to grow as a global center of technological excellence, accounting for 10% of research and development and home to five of the top 10 science and technology schools in Asia.
Grandweld to Build Third Crewboat for Khalid Faraj
Grandweld Shipyards secured a repeat order worth $5 million (USD) to build a 42-meter aluminum crewboat for Khalid Faraj Shipping. This is the third order received by Grandweld from Khalid Faraj over the last five months. The contract signing took place at Middle East Workboats Conference and Exhibition held in Abu Dhabi on October 1, 2013. Jamal Abki, general manager if Grandweld Shipyards, explained, the 42-meter fast aluminum boat is based on Grandweldâs existing design.
Aquatic Introduces New Modular Carousel System
Aquatic Engineering & Construction Ltd., an Acteon company, has unveiled its 1,500-te carousel (AQCSâ01â1500) a powerful, modular drive system representing a significant capability extension for customers requiring installation or replacement of flexibles, umbilicals, power and telecommunication cables and wire rope products. Installation in deeper waters has become a recent trend in the subsea market, often being performed in depths ranging from 2,000-3,000m.
Newport News Installs Propellers on USN Aircraft Carrier
Huntington Ingalls Industries (HII) announced that the nuclear-powered aircraft carrier Gerald R. Ford (CVN 78) has put on significant weight in the dry dock at its Newport News Shipbuilding division with the installation of four 30-ton bronze propellers. At 21 feet in diameter, each propeller spins to push the aircraft carrier through the water. "Installation of the propellers culminates more than 10 months of focused work by numerous trades in support of installing the underwater shaftingâŚ
A Shipyard First Bug-O Systemâs Heavy-Duty MDS and Hardcoat Anodized Rail
With popular television shows such as âModern Marvelsâ and âHow Itâs Madeâ showcasing larger structures and assemblies being designed, built and often welded, itâs important that manufactures and builders be equipped to handle such construction landmarks. In the last twenty-five years, huge construction projects have gone underway and some have since been completed with more and new projects to start every day.
Tsavliris Salvages Collided Vessels in Aegean Sea
On July 4 Tsavliris Salvage dispatched its salvage tug Megas Alexandros from her Piraeus salvage station, to the assistance of bulk carrier Katherine (17,255 GT, 28,711 DWT), laden with 26,400 MT of hot briquetted iron, following collision with bulk carrier Baru Satu (9,978 GT, 16,190 DWT), in the Kafirea Strait, Aegean Sea. As a result of the accident, the M/V Katherine was rammed by the bulbous bow of the M/V Baru Satu penetrating her cargo hold no.5âŚ
Fire Protection for LNG-fueled Ships
There are roughly 30 liquified natural gas (LNG)-powered marine vessels currently active in todayâs global seas, with some estimates showing approximately 30 new builds expected by 2014. With new commitments and orders for LNG-powered ships taking place every month, the potential that LNG-powered vessels will play an important part in shaping the future of the maritime industry is no longer speculation â it is now a fact.
LNG: Now Powering Vessels â and New Safety Regulations
New Hazards, New Regulatory Concerns and New Solutions. According to global classification society DNV, as much as 50 percent of the worldâs maritime fleet could be duel fuel-poweredâŚ
Offshore, Equipment & Partnerships, too
W&O caps a busy year with two additional deals intended to penetrate the busy offshore markets with cutting edge products. For many, the recently announced W&O SupplyâŚ
Today in U.S. Naval History: October 3
Today in U.S. 1955 - USS Saipan (CVL-48) begins disaster relief at Tampico, Mexico rescuing people and delivering supplies. Operations ends 10 October. 1962 - Launch of Sigma 7 (Mercury 8) piloted by CDR Walter M. Schirra, Jr., USN. In a mission lasting nine hours and 13 minutes, he made six orbits at an altitude up to 175.8 statute miles at 17,558 mph. Recovery by USS Kearsarge (CVS-33). For more information about naval historyâŚ
Bryan Jones Joins HDR Ports & Maritime Team in Boston
Bryan N. Jones has joined HDR in Boston as a senior project manager for the Ports & Maritime group, a growing team of HDR marine specialists in the Northeast to support an increasing number of assignments following Super Storm Sandy. He will also focus on business development with key ports clients and marine terminals to continue expanding HDRâs presence in New England. Prior to joining HDR, JonesâŚ
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