Troms Offshore Management AS

Salvors finished cutting and lifting the first section of the capsized car carrier Golden Ray on Sunday, and the section was carried by barge to a local site for further sea fastening before transport to Louisiana for recycling.Delays during the first round of cutting operations, including those caused by a passing tropical storm and equipment issues, are among a string of setbacks to impact one of America's most complex salvage projects. But the response team hopes that lessons learned along the way will help to streamline the work ahead. “This is our first major milestone in the removal operation.

How have major events such as the U.S./China trade war, oil price fall and COVID-19 impacted Twin Disc’s commercial marine business to date, and what adjustments have you made in response?These are the three things that I’ve been highlighting in employee communications and with investors over the last few months. For us, COVID was just the third punch after the other two. China is typically our second largest market after the U.S., and we lost lots of orders to our competitors as the trade war started to affect us. It’s rebounding a little, but it definitely impacted our sales into China. The Russia/OPEC oil price war didn’t help either.

German shipowner Oldendorff Carriers said the first of its four Newcastlemax newbuilds on order at China's Hantong Shipyard was named on Monday. The new 208,000 dwt bulk carrier Henry Oldendorff is scheduled to be delivered on Thursday. The newbuild, along with sister vessel Hugo Oldenodrff due to be handed over in the first quarter of 2021, have been sold to subsidiaries of ICBC Financial Leasing with five + five + two years bareboat charter back to Oldendorff Carriers on an index-linked floating rate basis.The series' third and fourth vessels Heide Oldendorff and Hauke Oldendorff will be owned by Oldendorff and are due for delivery in June and August/September 2021 respectively.

BW LPG has entered into memorandums of agreement (MOA) to sell two very large gas carriers (VLGC) BW Confidence and BW Cedar, the Singapore-based shipowner announced Monday.BW Confidence was built in 2006 and has a carrying capacity of 83,270 cubic meters. The sale is expected to generate approximately $36 million in liquidity and an expected net book gain of approximately $4 million. The sale and delivery of the vessel to its new owner is expected to be completed in the first quarter of 2021.BW Cedar was built in 2007 and has a carrying capacity of 82,260 cubic meters. The sale is expected to generate a net book gain of approximately $3 million.

Mutual P&I insurer The Standard Club said it has enhanced its data and insight capabilities as part of a two-year upgrade program."We have looked hard at how we can use technology and data to better serve our members, with a particular focus on supporting risk selection and pricing, and on delivering new member services," said Dipo Oyewole, the Standard Club’s Performance and Strategy Director.The data upgrade program has enabled the club to improve its modeling of risk through application of advanced modeling techniques and new data sources, it said.