Paragon Acquires Majority Stake in Prospector
Paragon Offshore plc reported that it has acquired 52,749,014 shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 Norwegian kroner (NOK) per share, or $2.13 per share based on the exchange rate of one United States dollar to 6.80 NOK. Following this transaction, Paragon owns a total of 52,749,014 shares of Prospector, equal to 55.8 percent of the outstanding shares of Prospector.
Italy Region, Island Seek $274m in Concordia Damages
Officials for Italy's Tuscany region and the island of Giglio said on Monday they would seek a total of 220 million euros ($274 million) in damages from Costa Cruises, a unit of Carnival Corp, for the 2012 Concordia cruise liner disaster. The Costa Concordia was carrying more than 4,000 passengers and crew when it struck rocks off the Tuscan island of Giglio and capsized, killing 32 people. The ship…
October Container Numbers Up at Port of LA
The Port of Los Angeles released its October 2014 containerized cargo volumes, which saw overall volumes increased 4.6 percent compared to October 2013, while total cargo for October was 715,682 Twenty-Foot Equivalent Units (TEUs). “While increasing cargo volume is our objective, the congestion circumstances in recent months have caused delays for cargo owners that absolutely must and will be resolved,” said Port Executive Director Gene Seroka.
RT Endeavour Delivered in Hong Kong
Second ART 80-32 Rotortug delivered to Elisabeth Ltd. RT Endeavour, the second of four Rotortugs on order with Cheoy Lee shipyards Ltd. and designed by Robert Allan Ltd., sailed Hong Kong waters Saturday, November 15, 2014 on her way from the build yard to her new owner Elisabeth Ltd., who took delivery of the vessel in Hong Kong. The Rotortug distinguishes itself from the conventional ASD, Tractor or Voith Schneider designs by using a triangular propulsion configuration.
Moore Stephens to Make Representation on Tonnage Tax Changes
International accountant and shipping consultant Moore Stephens is to make representation to Her Majesty’s Revenue & Customs in connection with recently issued draft revised guidance in respect of the U.K. tonnage tax regime, some of which it considers to be unhelpful. Moore Stephens tax partner Sue Bill said, “None of the changes are fundamental. Indeed, some of them are helpful, for example the revised…
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.
Port of Long Beach Working to Relieve Congestion
Acting to relieve cargo delivery delays, the Long Beach Board of Harbor Commissioners on Thursday approved the use of Port of Long Beach property as a temporary site for the storage of empty containers, which will help to free up needed equipment to move cargo out of shipping terminals faster. The “Temporary Empty Container Depot” will be operated on 30 acres of a vacant, undeveloped area on Pier S on Terminal Island.
Paterson Elected to Tidewater Board of Directors
Tidewater Inc. announced the election of Richard D. Paterson to its board of directors for a term beginning November 13, 2014 and expiring in July 2015. Richard D. Paterson is a certified public accountant who retired from Price Waterhouse Coopers LLP (PwC), an international network of auditors, tax and business consultants, in 2011 after 37 years of service. At the time of his retirement, Paterson served as the global leader of PwC's Consumer…
New Options for Aerodynamic Analysis of Offshore Structures
Naval architecture and engineering firm Alan C. McClure Associates (ACMA) has recently completed a wind flow analysis on an offshore structure using its Computational Fluid Dynamics (CFD) software package. Until recently, no alternatives existed to determine the effect of aerodynamics and its associated forces on offshore structures other than wind tunnel tests, ACMA said. And, while wind tunnels answer part of the question, they are limited in the level of detail they provide.
Study: Offshore Ambient Vibration Monitoring
Two State University of New York (SUNY) Maritime College professors have received a $65,000 grant from the American Bureau of Shipping (ABS) to develop a program for inspecting underwater drilling equipment and gathering and maintaining information about its structural well being, all while the equipment remains in service and fully operational. Dr. Daniel Fridline, Assistant Professor, Mechanical Engineering and Dr.
Shipdock Amsterdam Nominated for Triple Certification
Shipdock Amsterdam, part of Damen Shiprepair & Conversion, has been certified by Lloyd’s Register Quality Assurance for aligning its quality, safety and environment management systems with internationally recognized standards, Damen reported. A three-man audit team audited the yard’s management systems, implementation and awareness among its employees and other people working at the Amsterdam repair yard.
Ruscon Looks to Double Service
Ruscon, part of the GCS Group, said it is considering doubling the frequency of its weekly fixed day intermodal service from the port of Vostochniy in the Russian Pacific to Moscow. The block train service, with a transit of 11 days, has proved popular with shippers from China and southeast Asia, and is therefore already running close to capacity. “The reliability and speed of the service, including our unique ability to deliver the containers to final consignees anywhere in Russia…
Record Growth Continues at Georgia's Ports
The Georgia Ports Authority reported that its terminals in Brunswick and Savannah moved a combined 2.79 million tons of freight in October, a record for the authority. "Strong growth across all key sectors of our business is an indication that our ports are reaching a larger and more diverse customer base," said GPA Executive Director Curtis Foltz. For the fiscal year to date, the GPA has moved 10.28 million tons, up 7.2 percent or 694,045 tons.
Paris MoU Reports 113 MLC Detentions in First Year
August 20, 2014 marked the first anniversary of the entry into force of the Maritime Labor Convention (MLC, 2006). During the first 12 months, 113 ships were detained by one of the Paris MoU Authorities for MLC-related deficiencies, representing 17.4% of the total number of detentions (649) in the Paris MoU during this period. During the first year, 7.4% (3,447) of the total number of 46,798 deficiencies recorded was linked to the MLC…
Crowley Wins 2nd Commercial LNG Supply Contract
Crowley Maritime Corp.’s Liquefied Natural Gas (LNG) services group has been awarded a second, multiyear contract to supply containerized, U.S.-sourced LNG to a pharmaceutical company’s manufacturing plants in Puerto Rico. The contract, executed through Crowley’s Carib Energy subsidiary, includes the fuel supply and transportation of LNG, helping the customer yield lowered emissions and an alternative to their current fuel source, diesel.
Low Green Power Supply, Cold Boost Spot, Curve
Low solar and wind power supply expectations on Monday boosted European prompt power prices with demand supported by a gradual turn towards colder weather. Point…
International Windship Association Launched
An international association has been created to facilitate and promote wind propulsion for commercial shipping worldwide. The founding members of a new association for the shipping industry have announced the establishment of the International Windship Association (IWSA), an association that will encourage, advise and advocate for the use of wind propulsion technologies in the shipping industry. IWSA, established in the U.K.
Antipiracy System Updates Triple Operating Range
WatchStander LLC, a provider of antipiracy technology for the shipping industry, has tripled the effective operating range of its fully automated antipiracy system. The company upgraded its system to detect vessels and potential piracy threats from up to six nautical miles, tripling its previous capability. It has also enabled the technology to automatically respond with advanced, nonlethal countermeasures against inbound pirate boats as early as five nautical miles…
IMO Type Approval for BallastMaster ultraV 500
GEA Westfalia Separator Group was awarded IMO Type Approval by the Federal Maritime and Hydrographic Agency (BSH) for the BallastMaster ultraV 500. The document was handed over by representatives of the BSH in an official capacity to the project managers of the ballast water system at SMM 2014 in Hamburg. The 500m³ installation is a scale-up of the 250m³ variant which had already been certified with the IMO Type Approval in December 2011.
Sea Trucks Bags Another Installation Contract
C has been awarded a second installation contract for a development in Nigeria to West African Ventures, Sea Trucks’ principle Nigerian business. The newest contract is further to Sea Trucks’ announcement made last week whichdeclared a contract from Afren for subsea installation of 60 km pipeline, PLEM, flexible riser and spool pieces as well as transportation and installation of jacket, piles, bridges and topside, ranging between 240 t and 480 t.
