The offshore supply vessel (OSV) industry has emerged from its 2017 trough, thanks in large part to a slight shrinkage of the active fleet, a string of debt restructurings, improved cost management, and an uptick in drilling activity in a few regions. The industry is far from healthy, though, and the climb back to financial well-being will likely be long and unsteady.
Born and raised on the water by entrepreneurial parents, Basjan Faber knew from a young age that his future and fate was in maritime, specifically ship design. Today the CEO leads a vibrant, diverse and fast-growing naval architecture firm that he co-founded with partners in 2007. Headquartered in Amsterdam, C-Job has a unique approach to its business and is expanding its international footprint
Associated Terminals runs an impressive mid-stream cargo handling operation on the Lower Mississippi River, unloading bulk carriers with high-efficiency cranes loading a carousel of barges. Maritime Reporter & Engineering News/MarineLink.com spent some time with Todd Fuller, President, Associated Terminals to discuss the operation.
A ‘work in progress,’ the North American brown water, shallow draft sectors have experienced a tumultuous year of evolution, changing market conditions, a rapidly shifting regulatory environment and new opportunities. Anything but boring; and within the pages of Maritime Reporter’ & Engineering News’ Annual Yearbook, Joseph Keefe, editor of sister-publication MarineNews
France and Italy forged a military shipbuilding alliance on Friday, as state-controlled Naval Group and Fincantieri signed off on a 50-50 joint venture that will bid for Franco-Italian warship projects and sell to the world market.The alliance reflects the two countries' desire to fend off competition in naval shipbuilding from the likes of China, the United States and Russia.
Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority
President Donald Trump is set to meet with Republican senators on Wednesday over a proposal to waive rules that only U.S.-flagged ships can move natural gas from American ports to Puerto Rico and the U.S. Northeast.The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts.
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea.
At the end of December, the U.S. Army Corps of Engineers (ACE) announced its selection of ten dredging projects that will form the core of a pilot program to advance the beneficial use of dredged material.The recent U.S. Army Corps of Engineers’ announcement culminated a program required by Congress, established within the Water Resources Development Act (WRDA) of 2016, specifically Section 1122.
At approximately 6:20 AM this morning, the Office of Congressman Elijah E. Cummings Released the Following Statement:At approximately 2:30 A.M. on Thursday October 17, 2019, Congressman Elijah E. Cummings (MD-07) passed away at Gilchrist Hospice Care, a Johns Hopkins affiliate, due to complications concerning longstanding health challenges. More details will be forthcoming.
ABS has been selected to class two Offshore Supply Vessels (OSV) being retrofitted with a battery/converter system by Harvey Gulf International Marine.The Harvey Energy will become the first ABS-classed dual fuel and battery vessel and the first U.S. flagged OSV equipped with a battery/converter system.
A sunken towing vessel has reportedly discharged oil and is blocking the channel in Pass a Loutre near Venice, La., the U.S. Coast Guard said on Monday.The Coast Guard said it is responding to the incident after having received a report around 2 a.m. Monday that the towing vessel Dejeanne Maria had struck a submerged object and began sinking while pushing two empty dry cargo barges downbound on