Latest news with #ROV
Indian Express
14-05-2025
- Indian Express
Ahmedabad: Teenager drowns while swimming in water-filled hole in Sabarmati riverbed
A 13-year-old boy drowned while swimming in a water-filled section of the Sabarmati river, which has been running dry in the city for a week following the closure of sluice gates of Vasna Barrage for repair and maintenance work. Officials of the Ahmedabad Fire and Emergency Services (AFES) told The Indian Express that 13-year-old Mohammad Hasnain Mohammed Asif Sheikh, resident of Sadar Bazaar, had visited this particular water hole along with some friends to cool off on Tuesday afternoon. However, when he did not return home and his family members asked his friends, it came to light that Sheikh had not surfaced from the water. The fire department was informed around 4.30pm following which emergency vehicles from Naroda and Shahpur fire stations reached the spot and, along with the River Rescue Team, began searching for the boy. However, the overgrowth in the area made it near-impossible to conduct operations, said an official. Around 8.30 pm, the fire department contacted a private company which had, during Fire Safety week in April, exhibited their Underwater Remotely Operated Vehicle (ROV), the purchase of which is still under consideration. The team arrived with the ROV which has sonar, underwater cameras and lights as well as a crab arm to catch hold of objects. 'The ROV was deployed and within an hour, operators saw the outline of the boy's body at a depth of about 12 feet of water. The ROV latched on to the body and brought it out of water,' said a fire department official. An Accidental Death (AD) report was filed at Riverfront East police station. Notably, the cutting-off of the water supply coupled with the intense May heat has ensured that Sabarmati river bed has mostly dried up in the city, leaving behind sludge, silt and debris that the civic authorities mean to clean, starting Thursday. There are parts of riverbed that have sharp drop-offs and mini lakes of sorts, some more than 12-15 feet deep, containing water that is yet to evaporate or be cleared out during the cleaning process.
RNZ News
30-04-2025
- Science
- RNZ News
Our Changing World: Fiordland's underwater world
[picture id="4K88JHC_Prof_James_Bell_diving_to_photograph_Fiordland_black_coral_Credit_Matteo_Collina_jpg" crop="16x10" layout="thumbnail"] Photo: Matteo Collina Follow Our Changing World on Apple , Spotify , iHeartRadio or wherever you listen to your podcasts The lights of the remotely operated vehicle, or ROV, scan the cliff-like reef of Doubtful Sound, illuminating coloured blobs, cup-shaped sponges and branched corals hidden in the gloom. Aboard DOC's research vessel Southern Winds , Professor James Bell of Victoria University of Wellington is hunkered over the controls, in full concentration mode. Out of the darkness, a large tree-like black coral appears. Misleadingly named, these corals have black or brown skeletons with bright white feathers erupting off their branches. These white filamentous structures are the coral's polyps. This coral is a few metres across and likely many years old, as they are very slow growing. Some dead branches are adorned with colourful sponges and sea squirts (ascidians). Fishes dart and school among the coral's 'foliage'. The ROV is used to take footage of corals at depth. Photo: James Bell Providing habitat is one of the key ecosystem roles of these black corals, says James. "They are like little oases of life and biodiversity." This is one reason why he and his team are studying these strange organisms. Typically, black corals live in much deeper parts of the ocean around Aotearoa. However, Fiordland's unique ecosystem means they are found in the sounds at much shallower depths. Fiordland's abundant rainfall sweeps through the rich leaf litter of the steep forest-clad slopes, collecting tannins - a type of chemical found in woody plants and wine. This tannin stains the freshwater brown like tea, and once it reaches the fiord, it forms a layer on top of the denser seawater, essentially blocking out some of the light. Doubtful Sound. Photo: Claire Concannon / RNZ In these medium-light conditions, seaweed struggles to grow and instead there are 'animal-dominated' reefs. The steep rocky sides of the fiords are littered with slow-growing filter-feeding creatures including sponges, black and red corals, sea pens, sea fans, and sea squirts. Since 2018, a team led by James has been documenting the habitat of the outer, middle and inner areas of some fiords. The work, contracted by DOC, aims to discover what lives there, and how things are changing over time. Down to 25 metres depth is the domain of divers equipped with cameras. They take a series of photographs along the reef that are later analysed to identify the species and figure out how much of the area they are covering. For deeper spots, down to 200 metres, the researchers use the ROV. The team use an ROV to survey deeper habitats. Photo: Matteo Collina And on this trip to Doubtful Sound, PhD candidate Miriam Pierotti is also taking samples of black corals from different areas, for her research into coral resilience. Dry suits are the gear of choice in Fiordland. After donning merino layers, and pushing the air out of her sealed suit, Miriam grabs some plastic baggies and bright yellow labels. With her dive partner, Eva Ramey, she uses the labels to mark corals she is sampling - snipping a 'branch' from the large structures to place in a bag. Black corals are protected under the Wildlife Act, but Miriam has a permit to do this work. Miriam Pierotti, Matteo Collina and Dr Alice Rogers talk pre-dive. Photo: Claire Concannon / RNZ Then, she uses tinfoil to create a makeshift lab to process her samples at the back of the boat. She carefully slices small fragments of each coral sample and stores them in vials for future genetic analysis. While Miriam works, the next dive team has gone below. Matteo Collina and Dr Alice Rogers take hundreds of pictures of the marked corals, and precise GPS markings. By stitching together the photos they can recreate a 3D model of the black corals as they appear on the reef - a process called photogrammetry. Miriam Pierotti processes coral samples onboard. Photo: Claire Concannon / RNZ By combining the genetic analysis and the photogrammetry, Miriam hopes to recreate a 'family tree' of the corals. This will help her understand how the next generations are faring and how far coral larvae could be travelling within the fiords. Both are important for understanding how resilient the black corals might be to local disruptions, like landslides. Another potential disruption of interest is ocean warming. By taking live black coral samples back to the Victoria University of Wellington Coastal Ecology Lab, PhD candidate Amber Kirk is investigating how they respond when the temperature is ramped up. In 2022, a long-lasting marine heatwave resulted in sea temperatures 4.5C above average for the sounds. This team documented [ mass sponge bleaching events] as a result, and some subsequent sponge death. But it's unclear how the black coral coped. Amber Kirk monitors the black corals in the lab. Photo: James Bell In the lab, when Amber ramped up the heat to the same temperatures experienced in that heatwave, some of the corals died, but others hung on. She's now investigating how the black corals responded physiologically, and whether the microbes associated with them have changed - something they have observed in certain sponge species in response to heat. Sign up to the Our Changing World monthly newsletter for episode backstories, science analysis and more.
Yahoo
21-02-2025
- Business
- Yahoo
Oceaneering International Inc (OII) Q4 2024 Earnings Call Highlights: Record Revenue and ...
Order Intake: $2.9 billion in 2024. Share Repurchase: Approximately $20 million in shares repurchased. ROV Uptime Rate: 99% at year-end 2024. EBITDA Margin (SSR): Improved by 361 basis points, exiting 2024 at 36%. Quarterly Revenue: Highest since Q4 2015. Adjusted EBITDA: Surpassed $100 million for the first time since Q2 2016. Net Income (Q4 2024): $56.1 million or $0.55 per share, a 26% year-over-year increase. Consolidated Revenue (Q4 2024): $713 million, 9% higher year-over-year. Operating Income (Q4 2024): $77.9 million, 64% higher year-over-year. Adjusted EBITDA (Q4 2024): $102 million, a 35% increase year-over-year. Cash from Operating Activities (Q4 2024): $128 million. Organic Capital Expenditures (Q4 2024): $34 million. Free Cash Flow (Q4 2024): $94.5 million. Cash Balance (End of 2024): $498 million. SSR Operating Income (Q4 2024): $63.5 million, 26% higher year-over-year. ROV Revenue Per Day Utilized: $10,786, a 12% year-over-year increase. Manufactured Products Revenue (Q4 2024): $143 million, 8% increase year-over-year. OPG Revenue (Q4 2024): $184 million, 14% increase year-over-year. Consolidated Revenue (Full Year 2024): $2.7 billion, a 10% increase from 2023. Operating Income (Full Year 2024): $246 million, a 36% increase from 2023. Adjusted EBITDA (Full Year 2024): $347 million, a 20% increase from 2023. Free Cash Flow (Full Year 2024): $96.1 million. 2025 Revenue Growth Projection: Mid- to high single digits. 2025 EBITDA Guidance: $380 million to $430 million. 2025 Free Cash Flow Projection: $110 million to $130 million. Warning! GuruFocus has detected 3 Warning Sign with PRMB. Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Oceaneering International Inc (NYSE:OII) recorded a notable order intake of $2.9 billion in 2024, reflecting strong customer confidence. The company achieved its highest quarterly revenue since the fourth quarter of 2015 and surpassed $100 million in adjusted EBITDA for the first time since the second quarter of 2016. OII reported a 26% year-over-year increase in net income for the fourth quarter of 2024, with consolidated revenue up by 9%. The Subsea Robotics (SSR) segment saw a 361 basis point improvement in EBITDA margin year-over-year, exiting 2024 at 36%. Oceaneering International Inc (NYSE:OII) demonstrated a strong commitment to safety, achieving a 56% reduction in high potential incidents in 2024. The manufactured products segment experienced a decline in operating income margin to 3% due to a reserve taken on an umbilical project. The book-to-bill ratio for the full year of 2024 was lower than expected at 0.97, compared to 1.31 in 2023. Integrity Management and Digital Solutions (IMDS) saw a decrease in operating income margin from 5% to 3% in the fourth quarter. Aerospace and Defense Technologies (ADTech) experienced a decline in operating income margin to 10% due to changes in project mix. Cash flow from operations declined by $6.7 million in 2024 compared to 2023, attributed to increased net working capital and cash taxes. Q: The upward progression of your ROV average revenue per day has been impressive. Has the increase in pricing been driven more by drilling support or vessel-based work? Do you expect a flattish trajectory or surpassing $11,000 a day as we move through the year? A: The pricing improvements are coming from both drilling support and vessel-based work. We expect activity to be flattish, but we anticipate further price realization through 2025, despite flat days. We continue to demonstrate value with 99% uptime, which supports price improvements over time. - Roderick Larson, President, CEO Q: Your book-to-bill ratio for manufactured products was about 1 times for 2024, a decrease from 1.3 times in 2023. Is there any guidance for orders or book-to-bill for this year? A: We haven't provided specific guidance for book-to-bill, but our sales pipeline remains healthy, indicating our belief in future orders this year. - Roderick Larson, President, CEO; Alan Curtis, CFO Q: How do you factor potential downtime or white space on rigs into your ROV utilization assumptions for 2025? A: Our plan assumes flattish rig activity. We've grown our market share in Brazil, which provides some protection against white space. The Petrobras contracts have become more favorable, allowing us to gain better pricing and market share. - Roderick Larson, President, CEO Q: Can you update us on the progress of outsourcing manufacturing for mobile robotics forklifts and discussions on incremental orders? A: The outsourced manufacturing is progressing well, and we are satisfied with the quality. We are monitoring the pipeline and customer schedules, aiming to convert trial-level buyers into larger volume buyers. - Roderick Larson, President, CEO Q: What are the drivers for margin improvement in the manufacturing products segment? A: Margin improvement is driven by better price backlog, efficient operations, and continuous throughput in factories. Improved margins are expected as long lead materials are received, and daily throughput helps absorb overhead costs. - Roderick Larson, President, CEO; Alan Curtis, CFO Q: Could you elaborate on the strength in the OPG segment for Q4 and expectations for 2025? A: The OPG segment benefits from light well intervention work, which is cost-effective for customers and offers high margins for us. We see growth opportunities in reworking infrastructure in the Gulf of Mexico and West Africa, which stabilizes the OPG business. - Roderick Larson, President, CEO Q: Can you discuss the vessel class ROV market supply/demand and multiyear opportunities? A: Utilization in the vessel class where we are mostly deployed has been strong. We see opportunities in multipurpose service vessels and ROV support vessels, with good utilization levels. - Roderick Larson, President, CEO Q: Have you seen more M&A opportunities in the last six to nine months, and what are you looking for in potential acquisitions? A: We are seeing more M&A opportunities and are looking for disruptive technologies where we can be the best owner. The acquisition of GDi is an example, as it complements our ROV business and offers significant value. - Roderick Larson, President, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
