Singapore-based Otto Marine sells Work Maintenance Vessel 'Oranda 1' for US$38.0-million, simultaneously bareboat-chartered back for GofM work. The sales transaction sets to improve the Group’s cash flow and balance sheet. Oranda 1, of LOA 75 m is an ABS-classed 4,200bhp Work Maintenance Vessel that has completed 4 projects in South East Asia since May 2010. Contemporaneous with the sales transaction, the Group’s subsidiary, Karp Marine Limited, has bareboat chartered back the vessel for a period of 5 years. Oranda 1 is currently executing general topside platform maintenance works in the Gulf of Mexico under a 450-day time charter contract worth US$14.9 million. “Proceed from this sale transaction will be utilized towards repayment of bank loans, thereby improving the Group’s liquidity and working capital. This is very much in line with the Group’s strategy to lighten its balance sheet to optimize operations going forward.” Aw Chin Leng, Executive Director and Deputy President. Otto Marine Limited is an offshore marine group engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion. In addition, Otto Marine is chartering out its own fleet of sophisticated and environmentally friendly (clean/comfort class) Anchor Handling Tugs and Offshore Supply vessels for mainly Deep Sea applications.
SAFEEN, the subsidiary of Abu Dhabi Ports formerly known as Abu Dhabi Marine Services, has taken delivery of a Damen Shoalbuster 2609 named Maqtaa to join its existing fleet. The delivery comes just two months after the order was placed by SAFEEN. Like all the vessels in Damen’s Shoalbuster range, the new vessel is a multipurpose, shallow draught workboat capable of undertaking a range of roles including towing, mooring, pushing, anchor handling, dredge support
Damen Services, part of Damen Shipyards Group, said that its Damen Asset Management Operating System (DAMOS) has been independently approved by classification society Bureau Veritas. DAMOS is a unique vessel maintenance management system that allows customers to maximise uptime and optimise cost of ownership. DAMOS is part of the Damen Services Lifecycle Support System and identifies and categorizes all on-board systems of a vessel
ABS Nautical Systems Nets Two New Clients. ABS Nautical Systems has signed a contract with Samson Maritime Ltd. for the use of its NS5 software. Located in Mumbai, Samson Maritime Ltd., owns and operates a fleet of offshore supply vessels, maintenance tugs and workboats. Samson Maritime Ltd. has chosen to implement the Maintenance & Repair, Hull Inspection and Drawings Management modules as offered through the ABS Newbuild Program
SP Fire Technology’s involvement in fire-resistant lightweight materials for marine applications has contributed to the construction of several smaller lightweight vessels, and to the current discussion within the International Maritime Organization (IMO) of how larger ocean-going vessels could be built using plastic composites. Background 2005 saw the start of the LÄSS project, which clearly showed the potential economic and environmental benefits of using lightweight materials
Incat Crowther delivered Kilimanjaro V, the eighth Incat Crowther designed vessel for the Tanzania-based operator Azam Marine. Built by Richardson Devine Marine of Tasmania, Australia, the 39m Catamaran Passenger Ferry is a rugged and efficient catamaran, designed specifically as a high capacity passenger and cargo vessel for the operator’s new route, an exposed and sometimes rough run from Dar Es Salaam to the island of Pemba via Zanzibar.
OSM Ship Management will equip 14 vessels with the BASSnet Maintenance and Procurement modules. In 2011, OSM had signed up two vessels for these modules. The Maintenance and Procurement modules are among a range of BASSnet fleet management systems that are aimed at providing “one, integrated solution” for all aspects of maritime operations. The software helps fleet operators and ship managers to plan and undertake asset management and maintenance, inventory and material control
Great Lakes Shipyard has been awarded a contract by the United States Army Corps of Engineers (USACE) Detroit District for the drydocking and repairs of the Floating Plant, based at the Detroit Field Station. The shipyard will perform routine drydocking, maintenance and repairs of the Tug DEMOLEN, Crane Barge VELER, and Deck Scow BC-6576. In addition to drydocking the vessels, work includes underwater hull cleaning and maintenance; inspection of propulsion and steering systems; sea valves
Great Lakes Shipyard announced it has been awarded a contract from the United States Army Corps of Engineers (USACE) Detroit District for the drydocking and repairs of the Floating Plant, based at the Detroit Field Station. The shipyard will perform routine drydocking, maintenance and repairs of the Tug Demolen, Crane Barge Veler and Deck Scow BC-6576. In addition to drydocking the vessels, the yard’s work includes underwater hull cleaning and maintenance; inspection of
SapuraKencana GE Oil & Gas Services Sdn Bhd (SKGE), a joint venture between SapuraKencana Services Sdn Bhd and GE Power Systems (M) Sdn Bhd, has been awarded a Long Term Service Agreement by Petroliam Nasional Berhad (PETRONAS) Floating LNG1 (L) Ltd. (PFLNG) to provide maintenance services for PETRONAS’ two forthcoming floating LNG vessels. A Contract Exchange ceremony for the award was held in Kuala Lumpur on Thursday, 24 March 2016 between PFLNG and SKGE.
Collaboration between the Ports of East London and Ngqura, together with the South African Maritime Safety Authority (SAMSA), helped avert another potential maritime disaster in the Eastern Cape during the past week. Transnet National Ports Authority (TNPA) towed the BBC Shanghai
Global safety seal provider Roxtec said it has launched its second specialized service company offering inspections and maintenance of cable and pipe transits. The new Roxtec Services US LLC is a subsidiary of Roxtec Services AB. It is based in Houston, Texas
Freight rates for very large crude carriers (VLCCs), which fell to a near six-month low on Thursday, will remain weak until the Asian refinery maintenance season gets completed, starting April-end. "I haven't seen a collapse in rates like this for some time
The National Air and Naval Service of Panama (Servicio Nacional Aeronaval - SENAN) has taken delivery of four Interceptor 1102 vessels from Damen Shipyards Group. The President of Panama, Juan Carlos Varela, performed the christening ceremonies of all four vessels on February 6, 2017.
As Denel gets ready to revive the Naval Dockyard facilities in Simonstown, the company is collaborating with ThyssenKrupp Marine Systems GmbH (tkMS) for joint support of the SA Navy frigates and submarines. Denel, which is a global supplier of world-class defence products and
In conjunction with Seatrade Cruise Global, DNV GL has published the classification society’s latest Cruise Update magazine. It features outstanding projects with customers, interviews with industry leaders, and technology trends in the cruise sector.
In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance, says a report by Douglas-Westwood London. This has been further exacerbated by sustained low oil prices
The technology group Wärtsilä has signed a five-year technical management and services agreement with Songa Offshore for four Cat-D type semi-submersible drilling rigs operating in the North Sea. Through the partnership with Wärtsilä
ABB is deepening its analytical and predictive approach to vessel maintenance with the latest upgrade of its Remote Diagnostic Service (RDS). ABB is one of the leading advocates of the digitalization of shipping and has already launched Integrated Operation Centers in Asia
As Denel gets ready to revive the Naval Dockyard facilities in Simonstown, the company is collaborating with thyssenkrupp Marine Systems (tkMS) for joint support of the South African Navy frigates and submarines. Denel, which is a global supplier of defense products and solutions
Red & White Taps AAM for Hybrid Electric U.S.-Built Passenger Vessel All American Marine (AAM) in February announced a deal for the construction of a new hybrid electric, 600 passenger aluminum monohull vessel to be delivered to the Red and White Fleet of San Francisco, Calif
Just over a year after it took delivery of the second of two FCS 3307 Patrol vessels, Homeland Integrated Offshore Services Limited (Homeland) of Nigeria has ordered one more of the same class with an option on a second, to be named Guardian 3 and Guardian 4
Damen Shipyards Gorinchem built the walk-to-work services operations vessel Bibby WaveMaster 1, and Pronomar provided drying systems for workwear to the turbine maintenance personnel. Damen Shipyards Gorinchem is the headquarters of the Damen Shipyards Group and delivers up to
Marlink has acquired Palantir AS, a Norway-based maritime IT company specializing in remote IT management solutions. The Share Purchase Agreement whereby Marlink acquired 100 percent of Palantir AS shares was completed on March 17, 2017.
Foreign Direct Investment upto 100% under automatic route is already permitted in the Port Sector. This has resulted in several Public Private Partnership (PPP) projects coming up in the Major Ports. At present, a total of 33 PPP Projects with an investment of INR 17817