Latest news with #MarineServices
Yahoo
14-07-2025
- Business
- Yahoo
Tidewater (TDW): Among the Energy Stocks that Gained This Week
The share price of Tidewater Inc. (NYSE:TDW) surged by 9.13% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. A fleet of offshore supply vessels and tugs carrying materials to an oilrig in the distance. Tidewater Inc. (NYSE:TDW), together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. Tidewater Inc. (NYSE:TDW) garnered increased investor attention this week after the company announced the closing of a $650 million offering of 9.125% senior unsecured notes due 2030, using the proceeds to repay existing debt and fund the redemption of outstanding bonds. Moreover, the company reported that it had entered into a new $250 million revolving credit facility, further bolstering its financial flexibility and positioning in the offshore support vessel industry. While we acknowledge the potential of TDW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None.
RNZ News
07-07-2025
- Business
- RNZ News
Wanganui-Manawatu Sea Fishing Club leader raises alarm over seabed mining project
Jamie Newell, diving off South Taranaki, says large areas of one of New Zealand's most important fisheries could be wiped out by seabed mining. Photo: Supplied The commodore of the Wanganui-Manawatu Sea Fishing Club is raising the alarm over a seabed mining project he never believed would happen. "With it being turned down by the Supreme Court and there being a court-ordered environmental hearing, I never, ever thought it would get to this point," Jamie Newell told Local Democracy Reporting. The Whanganui diver, fisherman and business owner said large areas of one of New Zealand's most important fisheries could be wiped out by an Australian miner's desire to mine minerals off the South Taranaki coast. Trans Tasman Resources (TTR) wants to extract up to 50 million tonnes a year of seabed material a year. It would recover an estimated 5 million tonnes of vanadium-rich titanomagnetite concentrate and then dump unwanted sediment back into the sea. TTR withdrew from an environmental hearing to apply for marine consents via the coalition government's new fast-track approvals regime. Newell, who manages family-run fishing and outdoors business Marine Services Whanganui, said low reefs in the South Taranaki Bight would be smothered by the dumping of 45 million tonnes a year of "dredge tailings" for 20 years. Recreational fishers and local businesses could be left reeling for decades, he said. "That's extremely concerning. I'm extremely worried for what that sediment would do to our marine environment and how dramatically it could change recreational fishing off there." Newell said he feared the impact of silt pollution on precious reef life. "I was brought up diving the coastline and my father dived it as well. I've done a lot of exploratory diving out to 45m. I've seen personally how clear it is out there - and I'm worried. "We have some very diverse ecosystems off this coastline - some of the most scenic you could ever hope to see. The reef life is some of the best in the world. "It's a very unreal place, one of the only places we have like this in the whole of the North Island. "You can be out there with 60 to 100 kingis swimming around you, being inquisitive. No movie could ever replicate that." Wanganui-Manawatu Sea Fishing Club commodore Jamie Newell. Photo: Supplied Over the past six or seven years, Newell has mapped many of the reefs he's dived using new marine electronics. "The detail we can see now is far beyond what we've been able to see before. You can know every rock and gully and face on those reefs." Pumping 90% of the extracted materials back into the ocean would result in a huge volume of displaced sediment, he said. "Niwa and TTR have done research around and inland of that area, but I've yet to see any research on the reefs downcurrent of there - the ones that will be affected. "Most of the tailings will follow the east to west currents and flow back to Whanganui. "TTR knows there will be problems in those areas, so they've left that research undone." TTR proposes mining from waters 20m to 50m deep, between 22km and 36km offshore. While inner reefs were quite tall, with faces 5m to 15m high, and would not be as affected by the dredging, some deeper reefs were low and flat, lying only about a metre and a half high. "It won't take much at all to cover them." Ocean contours dropped off into a hole about 30-40m lower than the dredging zone, he said. "That's one of our main reef structure areas. The silt's going to settle on that area between the mining zone and the back of Graham Bank, and it will hit all the reefs there." Jamie Newell and partner Melissa Churchouse. Newell says dredging tailings will wipe out a swathe of the area's reef fisheries. Photo: Supplied Newell said from a depth of around 30m, wave action did not disturb the seabed. "Pumping silt back onto it will silt up reefs that don't naturally get silt on them." Niwa had reported that tailings dumped into water 35-70m deep would move up to 20km from the mining site and Newell feared the sediment would cover a swathe of low-lying reef structure. "Reef life will lose its habitat. The tailings are going to wipe out a large part of our reef fisheries, the likes of our blue cod, terakihi and hāpuka. It's where 90 percent of our terakihi get caught. "Our numbers of snapper and crayfish and kingis are recovering and growing faster than ever. We have an exceptional recreational crayfishery here. What's this going to do to them?" Newell has been with the sea fishing club in Whanganui for more than 10 years. "At no point has TTR engaged with us. We have more than 250 members, all fishing in that area. We would be the largest recreational user of the fishing grounds east of the seabed mining zone. "They've never talked to us. As part of a consent process, I would have thought that would have been part of what you'd need to do." Newell said smothering reef fisheries would affect his and other businesses. "If people can't go out to catch a feed of fish as easily, they're going to stop trying. We'll lose customers if the habitats are no longer there, and there will be flow-on effects for other businesses. "We've been a family business for 34 years. We employ 22 staff - that's 22 families that rely on our business." Newell has raised his concerns with Whanganui MP Carl Bates. He called a fishing club meeting on Thursday to discuss the issue and spoke with Infrastructure Minister Chris Bishop during the Minister's visit to Whanganui on Friday. Bishop is one of the ministers overseeing the Fast-track Approvals regime. LDR is local body journalism co-funded by RNZ and NZ On Air
Mid East Info
08-05-2025
- Business
- Mid East Info
BAHRI REPORTS FIRST QUARTER 2025 RESULTS WITH 18% NET PROFIT GROWTH - Middle East Business News and Information
Q1 2025 EBITDA of SAR 1.20 billion (+14% YoY) and net profit of SAR 533 million (+18% YoY), reflecting resilience across its core shipping businesses amid prevailing market headwinds, and supported by a profit turnaround in Integrated Logistics, new earnings from Marine Services, and increased contributions from associates. Continued fleet expansion and modernization program with seven vessels added, bringing the owned fleet to the 100-vessel milestone. Net debt-to-EBITDA of 1.85x, supported by sustained profitability and a resilient balance sheet. Riyadh, Kingdom of Saudi Arabia – May 2025: The National Shipping Company of Saudi Arabia ('Bahri' or the 'Company', 4030 on the Saudi Exchange), the Kingdom's leading shipping and logistics provider, announced its financial results for the first quarter of 2025 reporting an 18% increase in net profit to SAR 533 million, compared to the same period in 2024, primarily driven by margin expansion offsetting lower revenues in its oil transport business, continued resilience of its chemicals and dry bulk shipping segments amid prevailing market headwinds, a turnaround to profitability of its integrated logistics business, additional earnings from its new desalination barges, and increased contributions from associated companies. Eng. Ahmed Ali Al Subaey, Chief Executive Officer of Bahri, commented: 'Our first quarter results highlight the resilience of Bahri's diversified business portfolio, as we achieved strong earnings growth despite challenging market conditions. Our Oil and Dry Bulk businesses delivered positive EBITDA growth, while optimization efforts in our Chemicals business partly mitigated the impact of market normalization. Likewise, profitability improvements in our Integrated Logistics business, along with strong earnings contributions from our affiliate Petredec Group, validated the effectiveness of our strategy to expand beyond our core shipping businesses and unlock value in complementary sectors. Furthermore, we are scaling up our new desalination business in the Kingdom, and expanded our global presence with the opening of our Singapore office, bringing us closer to our Asia-Pacific customers. During the first quarter, we had a net addition of four modern vessels to our operating fleet, while three other vessels were added soon after quarter-end, bringing our fleet to the 100-vessel mark. Our disciplined approach to fleet expansion and modernization ensures we remain well-positioned to act decisively in the vessel market as attractive opportunities arise. In the face of ongoing global trade and economic uncertainty, Bahri's diversified platform and operational agility continue to underpin our resilience. We are firmly focused on delivering value-accretive growth for our shareholders while playing a central role in transforming the Kingdom's shipping and logistics sector in support of Vision 2030.'
Hi Dubai
18-04-2025
- Business
- Hi Dubai
DP World Unveils Eco-Friendly Vessel at Jebel Ali Port
DP World has officially welcomed the latest addition to its Marine Services fleet, the DP World Jebel Ali, marking its maiden call at its namesake, Jebel Ali Port. The DP World Jebel Ali is a Sapphire 5300 compact gearless container vessel, equipped with advanced maritime technologies aimed at improving cargo handling efficiency, reducing operational costs, and supporting a more sustainable shipping industry. Its compact design allows greater manoeuvrability, making it ideal for accessing smaller ports and inland terminals — a move that opens up new opportunities for expanding regional and global supply chains. To commemorate the vessel's inaugural call, senior executives from DP World and Unifeeder hosted a special reception at Jebel Ali Port, highlighting the port's continued importance in facilitating global trade. The vessel will be deployed on Unifeeder's Asian Gulf ISC Service (AGI), further boosting the network's connectivity. Designed with sustainability in mind, the DP World Jebel Ali is expected to save approximately 1,700 metric tonnes of bunker fuel annually, resulting in a 15–20% reduction in carbon emissions on its designated routes. Ganesh Raj, Global Chief Operating Officer of Marine Services at DP World, noted, 'The addition of the DP World Jebel Ali to our fleet strengthens our commitment to providing agile, efficient services that deliver value to our customers. This state-of-the-art vessel will help reduce our environmental impact while enhancing our network, which plays a critical role in regional and global supply chains.' News Source: Emirates News Agency
Trade Arabia
18-04-2025
- Business
- Trade Arabia
DP World's latest vessel makes maiden call at Jebel Ali Port
DP World has welcomed the latest addition to its Marine Services fleet, with the DP World Jebel Ali making its maiden call at its namesake, Jebel Ali Port. DP World Jebel Ali is a Sapphire 5300 compact gearless container vessel with cutting-edge maritime technologies designed to enhance cargo handling efficiency, reduce operational costs and contribute to a more sustainable maritime industry. To commemorate the maiden call, DP World and Unifeeder senior management hosted a special reception at Jebel Ali Port, underscoring the port's pivotal role in global supply chains, said DP World in a statement. DP World Jebel Ali will be integrated into Unifeeder's Asian Gulf ISC Service (AGI). The vessel's compact design allows for greater manoeuvrability and access to smaller ports, including inland terminals, opening new opportunities to expand supply chain networks. The vessel is expected to save approximately 1,700 metric tonnes of bunker fuel annually, leading to 15 to 20 percent reduction in carbon emissions for its intended routes, it stated. Ganesh Raj, Global Chief Operating Officer of Marine Services, said: "The addition of the DP World Jebel Ali to our fleet strengthens our commitment to providing agile, efficient services that deliver value to our customers."
