Five More Barrier Islands to Protect La.
"Consistent with all the work undertaken in recent weeks to assess Louisiana's barrier island proposal and gather input from local officials, environmental experts…
GOM Spill: $69M Initial Bill to BP
The Obama Administration sent a preliminary bill for $69.09m to BP and other responsible parties for response and recovery operations relating to the BP/Deepwater Horizon Oil Spill.
Get Rational about Financial Ratios
By Richard J. Paine, Sr. Of the traditional five “C”s of credit: Capacity, Capital, Collateral, Conditions and Character, the first is foremost. It is the ability to repay debt. Financial ratios are the measure of that capacity. Derived from your company’s financial statements, ratios are key to determining your company’s credit rating. Your company’s credit rating will determine your success in securing financing or leasing for the projects needed to grow your business.
Gulf Oil Spill: Ships Face Few Delays
As oil from BP's sub-sea well laps coastal Louisiana, most ships in the Gulf have avoided contact with the spill but owners fear that regulations will be tightened after the disaster, raising their costs. “We've seen no delays from the spill, and it hasn't affected the operations of any of our ships,” said Dean Taylor, president of Tidewater Inc. in late May. Four vessels owned by Tidewater, which is headquartered in New Orleans, have been involved in recovery efforts.
Shallow-Water Drilling Permits Rescinded
According to a June 4 report from The Wall Street Journal, federal regulators rescinded drilling permits issued on June 2 to companies for new oil and gas wells in the Gulf of Mexico…
Canada Announces National Shipbuilding Strategy
Davie Yards welcomed the announcement of the National Shipbuilding Procurement Strategy by the Government of Canada creating dedicated shipyards for the construction…
Seaspan Newbuild & Time Charter
Seaspan Corporation (NYSE:SSW) announced that it purchased and accepted delivery of one 4250 TEU newbuilding vessel for approximately $43m constructed by Zhejiang Shipbuilding Co., Ltd. of China.
CG Clarifies Pre-Fire Plan Requirements
In a letter dated 3 June 2010, to MRA Director Captain Scott Powell, the U.S. Coast Guard (USCG) clarified its position on how a plan holder can comply with the…
Crude Carriers Receives M/T Aias, Option on M/T Atlantas
Crude Carriers Corp. (NYSE: CRU) announced that it took delivery of the M/T Waltz to be renamed M/T Aias (150,096 dwt), June 3, 2010. In addition, the 12-month fixed…
This Day in Coast Guard – June 4
1954-USS Asterion and SS Kokoku Maru collided in a heavy fog 40 miles west of San Francisco, killing one crewman of the latter ship and injuring three others. The Coast Guard cutters Magnolia…
This Day in Naval History – June 4
1942 - Battle of Midway (4-6 June) begins; during battle, the 4 Japanese carriers which attacked Pearl Harbor are sunk; this decisive U.S.
SeaArk Marine Responds to Gulf Oil Spill
SeaArk Marine, Inc, of Monticello, Ark. has announced immediate plans to expand their production capacity to better meet the needs of the Gulf Oil Crisis. “Unfortunately…
STX Pan Ocean Wins $40M Newbuild Contract
According to a June 1 report from channelnewsasia.com, STX Pan Ocean said it won a shipbuilding contract worth at least $40m for a semi-submersible heavy lift carrier.
Harbor Guard Boats Delivers Firehawk 24
Harbor Guard Boats, Inc. (PINKSHEETS: MIHI) has completed the delivery of a Firehawk 24 boat to the Laurelton Fire Rescue Department in Brick Township, N.J. www.harborguardboats.com
Interferry Seeks Ro-Ro Recruits to boost IMO Voice
Trade association Interferry is mounting a membership drive with ro-ro operators among key targets in a further move to strengthen its representation at the International Maritime Organization.
Seaspan Takes Delivery of 50th Containership
Seaspan Corporation (NYSE:SSW) announced that it accepted delivery of the Calicanto Bridge from Jiangsu Yangzijiang Shipbuilding Co., Ltd. (YZJ) on May 28, 2010.
Wegener Signal International VP, Strategic Planning
Signal International, Inc., an integrated company providing global services to the offshore, marine and naval industries, has named Carl F. Wegener as Vice President of Strategic Planning, and Joe Mayhall as Director of Sales and Marketing for their Signal Ship Repair division. Both will be based at the corporate office in Mobile, Ala. Wegener has over 20 years experience in the marine industry and will oversee the company’s efforts towards future growth and diversification.
USCGC Mackinaw SNAME Ship of the Month
SNAME announced that the USCGC Mackinaw (WLBB-30), a 240-ft vessel designed and built by Marinette Marine Corporation (a FINCANTIERI company), has been designated the SNAME Ship of the Month for June, 2010. The USCGC Mackinaw is a heavy icebreaker operating in the North American Great Lakes for the United States Coast Guard. She should not be confused with her predecessor, USCGC Mackinaw (WAGB-83), which was decommissioned on June 10, 2006.
Posidonia Opens Next Week
The 22nd edition of Posidonia 2010, an international shipping trade event, opens its doors next week on the back of renewed confidence in the state of Greek maritime affairs as outlined in a recent Union of Greek Shipowners (UGS) statement. According to UGS, Greece’s foreign exchange earnings from ocean going shipping services were substantial in 2009 amounting to $16.6b despite a slight decrease compared to the previous year.
Kvichak Marine, Wash. Manufacturer of the Year
Kvichak Marine Industries has received the first annual Manufacturer of the Year award for Washington State in the large companies category. This award was presented by Seattle Business magazine on May 27.
