How Specialty Lenders Can Propel Marine Operators
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand?
Bordelon Begins Campaign to Fight Breast Cancer
Bordelon Marine has committed to a yearlong campaign to fight breast cancer that will see the company donate a portion of profits from its ship, the M/V Shelia Bordelon, to the New Orleans affiliate of Susan G. Komen for the Cure. In support of this partnership, Bordelon Marine will also participate in the New Orleans Race for the Cure on October 25 with the Shelia Bordelon team. The MV Shelia Bordelon, which features a pink stripe along with the Susan G.
Unpredictable & Dangerous Rogue Waves
Ever since man has taken vessels onto the seas, mariners have reported encounters with monstrous waves that seem to arise out of nowhere from an otherwise average sea state. On his third voyage to the New World in 1498, Christopher Columbus recorded in his logbook that a giant wave lifted up his vessels as they transited the waterway between the Paria Peninsula of Venezuela and the island of Trinidad, a waterway he then named Bocas del Dragón (the Mouths of the Dragon).
Pettit Launched Water-based Antifouling Paint
Pettit Marine Paint, manufacturer of high performance marine coatings, announced today the release of an entry-level water-based antifouling paint, Neptune 5. This latest addition to Pettit’s line of ecofriendly bottom paints provides lower applied cost per square foot, easier application and is priced for budget conscious consumers, the company said. Pettit said it has created a hybrid paint film strong enough to handle the tough marine environment…
New Possibilities for Imaging Measurement
With its staggering ability to show displacements of submillimeter scale to stern waves of several meters high, the Digital Image Correlation technique has been applied on a wide range of projects at MARIN. Examples from research programs in controlled conditions and full-scale trials are highlighted. In some situations conventional sensors cannot be applied. For example, when the sensors alter the hydro-dynamical or structural properties of the object or…
Kuwait to Ship Crude to Egypt in October
Kuwait said on Wednesday it would ship around two million barrels of crude oil in early October to Egypt, giving it priority as a buyer ahead of sales from storage into the Mediterranean market.
New DeepFlight Dragon Personal Sub
DeepFlight introduced a new type of personal submarine at the 2014 Monaco Yacht Show: DeepFlight Dragon, an all-electric, compact, lightweight personal submarine to explore down to 400 ft. (120m). At 3,968 pounds (1,800 kg) and under five feet (1.5 m) in height, the Dragon is less than half the weight of competing submarines and readily fits into existing yacht garages or deck areas. Like all DeepFlight personal submarines…
Exporting Crude Oil A “No-Brainer”
As I watch the back and forth in Washington – and beyond – on the issue of whether to allow the export of crude oil and LNG, I can only shake my head and wonder…
Maersk to Invest Billions, Reap Savings, but No Cash for Shareholders
Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent, partly because it failed to announce any of the initiatives the market had anticipated for its investor day in Copenhagen. Analysts had hoped that Maersk would say it had sold a big oil asset in Angola…
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
UASC and Hamburg Süd Sign Cooperation Agreement
Two leading container shipping lines United Arab Shipping Company (UASC) and Hamburg Süd have signed a global cooperation agreement after a series of discussions focused on the companies’ respective customers’ business needs, key growth areas and operational requirements. The need to address logistical imbalances was also a key driver behind the agreement, the companies stated. “As a customer-focused and emerging global operator…
Savvy Fuel Management Fuels TOTE’s Growth
As Tote pioneers the use of natural gas as a marine fuel with two groundbreaking projects, Anthony Chiarello combines the strength and diversity of the Saltchuk…
OSI Maritime Systems Opens Australian Office
OSI Maritime Systems (OSI) announced the official opening of its newest office, in Canberra, Australia. Located in the suburb of Fyshwick, the Canberra office will…
The No-Emissions Workboat (Really!)
There’s no debate about LNG in New York. ELCO, New York State Canals team up to retrofit 86-year old tugboat with an electric motor. In June, Governor Andrew Cuomo…
Skip, Skip, Skip to the Loot
Options abound for operators to make timely payments and maintain access to funding. There are many different operating models in the commercial marine universe.
Business, Bankruptcy, Bad Debt – and You
Everyone knows that doing business with payment terms providing for payment in the future poses a risk. Our clients often contact us asking us to write letters and…
Royal Navy of Oman Takes Delivery of Damen Clipper
On September 12, the Royal Navy of Oman formally accepted ownership of its new sail training vessel at a ceremony at Damen Schelde Naval Shipbuilding in Vlissingen, the Netherlands. The three-masted steel clipper, named RNOV Shabab Oman II, will sail the world’s oceans as an ambassador for Oman, demonstrating the country’s centuries-old maritime tradition. The 87-metre vessel is Damen's third such clipper, proving the value of Damen’s reliable craftsmanship and engineering.
BHP Considers London Listing for Demerged Company
Global miner BHP Billiton is considering listing a planned spin-off company in London as well as in Sidney and Johannesburg, the company said in a letter to shareholders.
1923 Schooner Replica Completes Sailing Trials
Eastern Shipbuilding Group, Inc. (ESG) announced that the Columbia (ESG Hull 981) a steel hull exact replica of the historic Gloucester Fishing Schooner, has completed her sailing trials. The sailing trials were held on September 18, 2014 directly offshore of the beaches of Panama City, Florida. Ninety-one years earlier, the original Columbia was officially measured on October 27, 1923 just before her race with the Bluenose by Raymond J. Milgate, a marine surveyor of Halifax, N.S.
Dynagas Partners Announces LNG Carrier Acquisition
Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor…
