The European Patent Office has granted M Ship Co., LLC, a patent for its revolutionary M-hull technology.
The maritime research and design firm also has entered into a Collaborative Research and Development Agreement (CRADA) with the Space and Naval Warfare Systems Center (SPAWAR) in San Diego. The European patent, titled “M-Shaped Boat Hull,” granted on Sept. 24, extends M Ship’s technology reach to Europe, offering new military, commercial and recreational markets for the proprietary M-hull technology. Under the terms of the agreement with SPAWAR, M Ship and SPAWAR will share information as it relates to the development of M Ship’s proprietary M-hull technology for unmanned surface vehicle applications. The patented M-hull technology is available only from M Ship Co., LLC., through licensing or construction agreements. The technology or specific vessel designs may be purchased by government and military agencies from M Ship Co. under sole-source acquisition contracts.
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Saturday, October 25, 2008
Globus announces sale of M/V "Ocean Globe"
Globus Maritime Limited announced that in light of the prevailing market conditions it has renegotiated the Memorandum of Agreement with Romanos Maritime Ltd.
Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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US rig count down by 14
The number of rigs actively exploring for oil and natural gas in the US was down by 14 this week to 1976. Of the rigs running nationwide, 1529 were exploring for natural gas and 423 for oil.
Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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World's first CNG propelled container feeder ship launched
Shanghai: This week has seen a dramatic ship design first come to fruition.
The Jenjosh Group launched the world's first compressed natural gas propelled container feeder ship from a small yard along the Yangtze. The NP Jenjosh is the first in a series to be commissioned by the pioneering Singaporean company and built at Wuhu Dajiang shipyard. A proud Capt Jimmy Ng, managing director of Jenjosh, relayed by email: 'The world's first CNG propelled container feeder vessel is born.'
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The Jenjosh Group launched the world's first compressed natural gas propelled container feeder ship from a small yard along the Yangtze. The NP Jenjosh is the first in a series to be commissioned by the pioneering Singaporean company and built at Wuhu Dajiang shipyard. A proud Capt Jimmy Ng, managing director of Jenjosh, relayed by email: 'The world's first CNG propelled container feeder vessel is born.'
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Independent assessments question Ukrainian Navy
The Ukrainian Ministry of Defense claims to have 40 combat ships in its Navy, but independent assessments are questioning this number.
Diesel submarine ‘Zaporozhye’ has experts dismissing its suitability in combat operations. It has stayed near the pier since 1997, and has been undergoing lengthy repairs. ‘Hetman Sagajdachny’, often classified as a frigate, also misses the mark. It was originally built as a border patrol ship for marine regiments of the soviet border guards, but it does not have the fire capabilities of modern anti-submarine patrol ships. The ship also does not have the anti-ship missiles of today’s frigates. Other frigates ‘Nikolaev’, ‘Dnepropetrovsk’ and ‘Sevastopol’ are also becoming out of date, making them increasingly difficult to integrate into a combat unit.
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Diesel submarine ‘Zaporozhye’ has experts dismissing its suitability in combat operations. It has stayed near the pier since 1997, and has been undergoing lengthy repairs. ‘Hetman Sagajdachny’, often classified as a frigate, also misses the mark. It was originally built as a border patrol ship for marine regiments of the soviet border guards, but it does not have the fire capabilities of modern anti-submarine patrol ships. The ship also does not have the anti-ship missiles of today’s frigates. Other frigates ‘Nikolaev’, ‘Dnepropetrovsk’ and ‘Sevastopol’ are also becoming out of date, making them increasingly difficult to integrate into a combat unit.
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