Tidewater Inc. announced today a second quarter net loss for the period ended September 30, 2011, of $4.9 million, or $0.09 per share, on revenues of $250.9 million. For the same quarter last year, net earnings were $19.4 million, or $0…
Transocean Files Motion for Summary Judgment in U.S. Federal Court to Compel BP to Honor Its Contractual Indemnity Obligations Transocean Offshore Deepwater Drilling Inc. (TODDI), a subsidiary of Transocean Ltd., today filed a motion for…
The Bureau of Ocean Energy Management (BOEM) approved a supplemental Exploration Plan (EP) submitted by BP for deepwater oil and gas activities. BOEM conducted a site-specific Environmental Assessment (EA) of the activities described in the plan…
Netherlands law firm AKD has appointed Jan Kromhout as a partner in its shipping and offshore team.Jan began his career in Rotterdam with the law firm Nauta Dutilh. In 2005 he joined the leading operator in the international market for heavy marine transport…
The St. Lawrence Seaway Management Corporation (SLSMC) is pleased to announce that its unionized employees, members of the Canadian Auto Workers (CAW) union, ratified a three-year labour agreement covering a period extending from April 1, 2011 to March 31…
The U.S. Coast Guard has announced a series of public meetings to receive comments on a notice of proposed rulemaking entitled “Inspection of Towing Vessels” that was published in the Federal Register on August 11, 2011. As stated in that document…
A two-day underwater examination conducted by Transocean (NYSE: RIG) (SIX: RIGN) and the US Coast Guard (USCG) on October 4th and 5th confirmed that there are no hydrocarbons leaking from of the sunken Deepwater Horizon or the riser, the pipe…
“We have reached the end of our tether on piracy,' ICS Chairman tells India Shipping Summit. “The world community cannot tolerate the abuse and the killing of seafarers,” ICS Chairman Spyros M Polemis told seafarers and maritime industry professionals in India today (Oct 11th)…
MEBA accuses operator of creating labor dispute and delaying important cargoes. AMO enters into new collective bargaining agreement with Liberty. On Monday, Liberty Maritime Corporation announced that it had entered into a new collective…
In the last few days the number of pirate attacks off the coast of Somalia has increased highlighting the fact that now the monsoon is weakening, the pirates are once again ready to attack merchant ships transiting through the Indian Ocean. MC Northwood's Chief of Staff…
Two Somalis Sentenced to Life in Prison for Acts of Piracy Against the S/V Quest. Muhidin Salad Omar, a/k/a “Muhiyaden Salad,” a/k/a “Gurdan,” a/k/a “Gardan,” a/k/a “Gurden,” a/k/a “Muhdin,” a/k/a “Dudan,” 30, and Mahdi Jama Mohamed, a/k/a “Mahdi…
New Capital Structure Provides Opportunity for Significant Deleveraging. Horizon Lines, Inc. (NYSE: HRZ) today announced that it has completed a comprehensive refinancing of the company's entire capital structure. The new capital structure…
Omega To Continue To Operate in the Ordinary Course of Business. Omega Navigation Enterprises Inc. (ONAVQ) announced today that, in connection with its Chapter 11 proceedings in Houston, Texas, the Court has granted the continuing use of cash collateral through December 12…
THE London P&I Club has warned that shipowners face a significant increase in exposure to claims and fines levied against them in jurisdictions which suffer from a combination of high interest rates and a reputation for protracted legal proceedings…
Liberty Maritime Corporation (Liberty Maritime) of Lake Success, New York today announced that it has entered into a new collective bargaining agreement with the American Maritime Officers (AMO) union under which the AMO will provide U.S. citizen…
