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Tidewater Reports 2Q Results

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2006, of $104.2 million, or $1.86 per common share, on revenues of $274.0 million. For the same quarter last year, net earnings were $82.2 million, or $1.42 per common share, on revenues of $204.4 million. The immediately preceding quarter ended June 30, 2006, had net earnings of $71.4 million, or $1.23 per common share, on revenues of $269.8 million. Included in the current quarter's net earnings is a gain of $28.2 million ($17.2 million after tax, or $0.31 per common share) related to the August 2006 sale of 11 of the company's offshore tug vessels to Crosby Marine Transportation, LLC for a total cash price of $34.8 million. Included in net earnings for the quarter ended September 30, 2005 is a gain of $65.9 million ($42.8 million after tax, or $0.74 per common share) from the sale of six of the company's KMAR 404 class of Anchor Handling Towing Supply vessel to Deep Sea Supply ASA for a total cash purchase price of $188.0 million. Tidewater Inc. owns over 490 vessels, the world's largest fleet of vessels serving the global offshore energy industry.


O&G industry body Decom North Sea acts to try to ease predicted skills shortages

DNS Chief Executive Brian Nixon

Decom North Sea (DNS), the offshore oil & gas decommissioning forum, has commissioned research into the future labour and skills requirements for the growing decommissioning sector to try to alleviate predicted skills shortages in future. With more than £1billion a year of decommissioning expenditure forecast for the UK North Sea by 2015 and only 7% of projects completed to date, DNS will make its findings available to training bodies to help ensure appropriately skilled people


DOT Signs Metlakatla Ferry Contract

The Alaska Marine Highway ushered in a new era in marine transportation for the community of Metlakatla with the signing of a contract to between the Department of Transportation and Conrad Industries of Morgan City, LA to build a new ferry. The new vessel will provide dedicated service between Metlakatla and Ketchikan, two of the Inside Passage’s southernmost communities. Southeast Region Director, Bob Doll , represented the Alaska Department of Transportation & Public Facilities at


Low Emission Ships Aid Statoil

Statoil said savings in acid-rain-causing nitrogen oxide (NOx) from two new low-emitting ships would allow it to meet its NOx emissions reduction targets from one new power station. "We've been given permission to credit these NOx reductions against land-based projects," Knut Barland, vice-president for environment at Statoil said. "And the kind of reduction we'd be getting on these ships would meet the NOx emission reduction target for one of these (planned) power plants."


PSV 'Skandi Caledonia' Hire Extended, Rate Increased

Photo courtesy of DOF

Three more years North Sea hire for DOP platform supply vessel 'Skandi Caledonia' Norwegian offshore vessel owner DOF has secured a three-year contract extension with Danish operator Maersk Oil for its platform supply vessel Skandi Caledonia for work in the UK North Sea sector. The three-year option now exercised from October this year replaces an earlier one-year option, with the dayrate for the new period  - which was not disclosed - set to increase 25%.


Maersk Supply Ships Q3 2013 Profits Soar

A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million. The profit for the third quarter of 2013 improved compared to the same period last year primarily due to higher utilization and lower operating costs.


GAC Russia To Upgrade Facilities At Novorossiysk Port

Logo

  GAC Russia is underlining its commitment to offshore oil & gas exploration and extraction in the Black Sea with a major project to upgrade its facilities at the port of Novorossiysk. The Black Sea is one of the areas in which the development of fields looks set to boom as Russian oil majors are granted licenses and joint ventures are formed with international energy companies to develop blocks. GAC Russia has already signed contracts with one of the key players to provide


NASSCO Awarded T-AKE 10 Funds

General Dynamics, National Steel and Shipbuilding Company, San Diego, Calif., is being awarded a $100,000,000 fixed-price-incentive modification under previously awarded contract (N00024-02-C-2300) to exercise an option for long lead time material and associated labor for the 10th ship of the T-AKE 1-Class (T-AKE 10).The contractor will perform material sourcing, material ordering, vendor interface, and material quality assurance


Ukraine's Black Sea Gas Ambitions Seen at Risk over Crimea

By Henning Gloystein, Reuters Ukrainian plans for expanding Black Sea natural gas output have been thrown into doubt by Russia's seizure of Crimea, a region linked to most of Ukraine's offshore developments. Past price disputes between Russia and Ukraine have led to the Russians cutting off supply, prompting Kiev to spur development of its own resources including onshore shale gas and Black Sea fields. Ukraine failed to pay Russian gas company Gazprom $440 million by a deadline on


ABB Wins $45M in Propulsion Contracts

ABB in Norway has secured new contracts worth $45 million for delivery of complete electric propulsion systems to two icebreakers to be built for CJSV Sevmorneftegaz by the Norwegian shipyard Havyard Leirvik, and four Platform Supply Vessels to be built in China for Groupe Bourbon by Zhejiang Shipbuilding. The contracts with Havyard Leirvik encompass system supply to two multifunctional icebreaking offshore supply vessels for the Russian company CJSV Sevmorneftegaz


Wärtsilä to Begin Building LNG Terminal in January

Tornio Manga LNG terminal (Image: Wärtsilä)

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015


Wärtsilä to Proceed with first LNG Terminal

  Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä will commence construction on the site near the port of Tornio in January 2015


Indian Shipyard Eyes Foreign Warship Orders

Garden Reach Ship Builders

Garden Reach Shipbuilders and Engineers Ltd (GRSE)  is trying to get a toehold in the international market, eyeing orders worth $425 million to supply warships to the navies of the Philippines and Vietnam.   A Kolkata-based shipyard will enter into the global warship market by bidding


Waterjet-propelled Crewboat Delivered to Petrobras

Photo: Thrustmaster

BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered.   Designed by Incat Crowther, the 118-foot (36-meter) aluminum crewboat is powered by triple CAT C32 ACERT diesel engines coupled to three


Hoists Facilitate Offshore Crane Repairs

Photo courtesy of JD Neuhaus

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea, problems that were solved with the use of J D Neuhaus air operated hoists. The crane was operating at 40 meters above sea level and


PIRIOU Delivers 53-meter FSIV

Photo: PIRIOU

French boat builder PIRIOU has delivered the 11th of its 53- by 10-meter Fast Supply and Intervention Vessels (FSIV) to Suisse Outremer AG, to be operated by ABC Maritime AG. Built at the PIRIOU yard in Vietnam, the Karol W was turned over to the owners in October 2014


Philippines to Buy Naval Assets, China Sea Dispute Simmers

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent urgency to the need to bolster forces, a Philippine navy officer said on Wednesday.


Dutch Container Terminal Signs on for Wind Power

Photo: APM Terminals

APM Terminals Signs Contract for Wind-Power Generated Electricity for Maasvlakte II Terminal   APM Terminals has signed a two-year, €5 million ($6.23 million) contract with Amsterdam-based NV Nuon Energy for the supply of environmentally-sustainable wind-generated electricity to power


Focus: Heavy Duty Lifting

Launched in 2012, the Rolls-Royce dual draglink crane has already been delivered to Farstad Shipping’s vessel Far Solitaire, one PSV under construction at Keppel Singmarine Brazil SA, as well as to four PSVs still under construction at Detroit Brasil shipyard, in Itajaì. Image: Rolls-Royce

Safely, efficiently lifting and handling increasingly heavy loads takes a hefty dose of the latest heavy lift products and systems. Rolls-Royce is a ubiquitous and growing force in all matters maritime, inching toward the one-stop-shop premise


ABIS Projects Bags £1m Contracts

Francis Kiernan

  ABIS Projects has won a clutch of contracts worth around £1million over the next 15 months. The oil and gas project services consultancy has secured frame agreements and call-off contracts with ADTI, Hunting, Talisman Sinopec and North Sea newcomer, MOL.


Report: Growth Anticipated in the OSV Market

Photo: Bourbon

New report covers market trends to 2019 for global offshore support vessel (anchor handling, towing and supply vessel, platform supply vessel, multipurpose service vessel, crew vessels, standby and rescue vessels, others)   The global offshore support vessel market is expected to grow owing


Delaney Joins Portwide as President

Thomas Delaney (Photo: Portwide Cargo Securing Co. Inc.)

Thomas J. Delaney has been named President of Portwide Cargo Securing Co. Inc., which supplies lashing services throughout the Port of New York/New Jersey. The announcement was made by Christopher Guido, owner of Portwide. Most recently, Delaney served as Senior Director


MacGregor Bags Equipment Contract for 6 AH

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  MacGregor, part of Cargotec, has received a major order from Kleven in Norway for six comprehensive deck handling equipment packages. They will be installed on six new-generation Anchor Handling Tug Supply (AHTS) vessels for Maersk Supply Service


CEZ to Close its Bulgarian Thermal Plant

Thermal Plant

  Czech power utility CEZ will wind down operations of its coal-burning plant in Bulgaria on Jan. 1, after it failed to get an exemption from European Union environmental rules, the company said on Saturday. CEZ had hoped Brussels may allow the plant to continue operations during the


Gazprom Boosting Gas Industry in Eastern Russia

Kirinskoye onshore processing facility

  The Gazprom Management Committee addressed the Company's large-scale efforts aimed at implementing the Eastern Gas Program. It was noted that the gas industry growth in Russia's East was strategically important for the socioeconomic development of eastern regions.






 
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