Oil Soars in Biggest One-day Rally in Years
Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month slump that reached 6-1/2 year lows this week, oil climbed as world stock markets rose on hopes Chinese government measures to stimulate the economy would pay off, while the dollar strengthened as risk aversion eased.
Odfjell Reports Best Quarter Since 2008
In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million. The group, which transports and stores bulk liquid chemicals, acids, edible oils and other special products, said it saw steady general improvement in the chemical tanker market with improved earnings in the deep-sea segment as well as in the remaining regional operations.
Fisherman Hit by Parted Line Lifted to Safety
A fisherman struck and injured by a parted line was medevaced south of San Juan Island and transported to Olympic Medical Center in Port Angeles, Wash. Thursday morning. He is in stable condition.
Great Lakes Shipyard to Build Guatemalan Harbor Tug
U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for harbor towing operations in Puerto Quetzal, a commercial cargo, container and cruise port located on the Pacific coast of Guatemala in Central America. The tugboatâs buyer, Regimen de Pensiones y Jubilaciones del Personal de la Empresa PortuariaâŠ
BAE Systems Welcomes Record Number of Paid Interns
More than 140 university students from across the country are being given a unique insight into working life at BAE Systems, as part of the companyâs 12-week summer internship program. At Portsmouth Naval Base and Cowes on the Isle of Wight, 11 interns are currently working across a number of disciplines from HR and finance, through to engineering and supply chain. Now in its third year, this growingâŠ
Fishing Boat Catches Fire off Maine
U.S. Coast Guard crews from Station South Portland, Maine, and Air Station Cape Cod responded to a report of a fishing boat fire Wednesday, about six miles from Jeffreys Ledge, a fishing area which stretches from the coast of Rockport to just southeast of Cape Elizabeth, Maine. A crewmember aboard the 40-foot fishing boat Gretchen Marie contacted watchstanders at Coast Guard Sector Northern New England at about 7:40 p.m.
Drydocks World Worldâs Largest Turret
Drydocks World marked a milestone in completing the worldâs largest turret mooring system. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters, the turret is designed to ensure the Prelude floating liquefied natural gas (FLNG) facility can operate safely in the most extreme weather conditions. This innovative FLNG storage and production facility will be stationed by Shell at its Prelude gas field off the northwest coast of AustraliaâŠ
N-KOM: New VLCC Size Floating Dock
Nakilat-Keppel Offshore & Marine (N-KOM), the joint-venture shipyard of Keppel Offshore & Marine and Nakilat, continues to see strong interest for its ship repair services in 2015, having already delivered more than 450 projects for shipping and oil and gas companies over the past four years. Among the shipyardâs list of customers are Odfjell, Maran Gas Maritime, Diamond Shipping, Springfield ShippingâŠ
Austal Delivers for USN
Austalâs U.S. operation consists of more than 4,000 employees supporting the design, construction and sustainment of two U.S. Navy programs, the 127-meter, trimaran Independence-variant Littoral Combat Ship (LCS) and the 103-meter, catamaran high-speed troop and equipment transport known as the Joint High Speed Vessel (JHSV). Austal has block-buy contracts in place for both programs totaling over $5 billion.
ASRY 2015 Strategy Combats Challenging Market
Up to May 2015, ASRY (Arab Shipbuilding & Repair Yard), was seeing encouraging results from itâs 2015 strategy to combat the widespread challenges facing the maritime repair market, particularly shipowners reduced repair budgets. In terms of revenue, the ship repair side of ASRYâs business has been solid in 2015, with almost identical revenues to the same period in 2014, with the number of ships showing a slight increase for the same period last year.
US Rep. Crenshaw Visits Newport News Shipbuilding
Shipbuilder Huntington Ingalls Industries (HII) hosted Rep. Ander Crenshaw (R-Fla.) Tuesday for a tour of the company's Newport News Shipbuilding division. Ken Mahler, Newport News' vice president of Navy programs, joined Crenshaw for the visit, which included a tour of the aircraft carrier Gerald R. Ford (CVN 78) and discussions about increased efficiencies and construction progress on Ford and John F. Kennedy (CVN 79).
Shipyards Rising Competitive Stirrings
A mini order boom fueled by gas, âgreen-techâ, tankers and new rules is underway in shipbuilding. It wonât fill all yards, but changes like the July 2015 cap on sulfur emissions garner retrofit and rush orders. Even Chinaâs Directive 55 obliges its mixed bag of yards to comply. Threatening to plug this trickle of business is the potential for backlash against rule makers, when Class is observed âengagingâ some yards on designs while others must merely learn the new requirements.
Two Injured in Pipeline Blaze off Louisiana
A natural gas pipeline has caught fire approximately 25 miles south of Marsh Island, La., Wednesday, injuring two vessel crew members working on the pipeline, according to the U.S. Coast Guard.
MES Delivers Bulk Carrier STH Athens
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. STH Athens (MES Hull No. 1898) at its Chiba Works on August 27, 2015 to Sea Trade Holdings Inc., Marshall Islands. Athens is the fourth ship of the builder's âneo60BCâ series, and the third Eco-Ship line up of itsâneo seriesâ. Service Speed abt.
Metalcraft Celebrates its 50th Anniversary
Metalcraft, a designer and manufacturer of fire detection and suppression equipment, is celebrating its 50th anniversary. The company serves a broad range of industries, including marine, auto racing, defense and aerospace, where its extinguishers have flown on numerous NASA missions. Beginning as a machine shop in the mid-60s with two owners and a secretary, the company served a localized Baltimore customer base. Within 10 years, it began supplying fire extinguishers to the U.S.
Builder KHI Contracts ALMACO for Drillships Work
ALMACO Group informs it has been awarded the design, material supply and supervision contract from Kawasaki Heavy Industries, Ltd. In March 2014, KHI contracted ALMACO Group to deliver the designâŠ
Shippers Cannot Relax Their Guard in SE Asia -MAST
Following a spate of six attacks in the Singapore Straight over the weekend, maritime security provider MAST is calling for shipping companies to strengthen theirâŠ
Harding Safety Certified as Maritime Training Provider
Manufacturer, service and training provider of Life Saving Appliances (LSA), Harding Safety AS - has been certified by DNV GL as âMaritime Training Providerâ according to DNV GL ST-0029. âHarding - Global Training Department delivers effective and efficient training services to both customers and employees. Proper training in the correct operation and maintenance of Harding life-saving appliances, increases both safety on-board and the lifespan of the equipment.â â explains Sergio MeekelâŠ
Damen Delivers Ice Class Tug to Lithuania
The Damen Shipyards Group has delivered an ASD Tug 2810 ICE to Klasco Towage Assistance, an affiliate of Klaipeda Stevedoring Company (KLASCO). The largest tugboat service provider in the Port of Klaipeda (Lithuania), this is the companyâs first purchase of a Damen tug, although it also currently charters a Damen 3110 from the Klaipeda State Seaport Authority, the builder noted. Named the Klasco-3âŠ
Shell Charters Regalia in 2016
Prosafe announced it has signed a contract worth approximately $24 million with Shell U.K. Limited for the provision of the Regalia semi-submersible accommodation vessel at the Brent C platform in the U.K. sector of the North Sea. The short duration contract commencing in the second quarter of 2016 will provide dynamically positioned (NMD3) gangway connection for the duration of the project. The contractâŠ
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