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AGGREGATE MATERIALS

Ingram to sell its Materials Unit

Ingram Industries Inc. of Nashville, Tennessee, and Pine Bluff Sand and Gravel Co. of Pine Bluff, Arkansas, announced today they have entered into an agreement for Ingram to sell its Ingram Materials LLC subsidiary to Pine Bluff. Ingram Materials is one of the nation’s premier producers of fine aggregate used by the construction industry for concrete, asphalt and masonry projects in Middle Tennessee, Western Kentucky and Northern Alabama. Ingram Materials operates three sand dredges on the Ohio River in Paducah, Kentucky, and has distribution facilities in Nashville, Clarksville and New Johnsonville, Tennessee; Paducah, Kentucky; and Decatur and Florence, Alabama. The Ingram Materials business was first established in 1927 by other owners who called it the Ohio River Sand Company. A successor to this business, called the Cumberland River Sand and Gravel Company, was purchased by the Ingram family in 1962 and renamed Ingram Materials. At that time, the business included a large sand yard facility on the east bank of the Cumberland River, visible from downtown Nashville. Ingram Materials relocated its operations to its current Nashville location at Visco Drive in 1997 – to make room for Nashville’s then-new NFL stadium built for the Tennessee Titans. Orrin Ingram, President and CEO of Ingram Industries Inc


Port of Redwood City Reports Tonnage Boost

Image: Port of Redwood City

Coming off of a strong second quarter for cargo tonnage, the Port of Redwood City's tonnage for all commodities in the first half of fiscal year 2013/2014 reached 829,681 metric tons, an increase of 24 percent over the same period last year. Imported sand and aggregates from British Columbia accounted for 642,480 MT, more than 77% of the tonnage for the first half of the fiscal year. This was nearly a 45% increase in the amount from the same period last fiscal year.


TBS International Limited Takes Delivery of Vessel

TBS International Limited has taken delivery of the M.V. Kibishio Maru, which it had previously agreed to acquire, thereby expanding its controlled fleet to 32 vessels. The M.V. Kibishio Maru, renamed the M.V. Aztec Maiden, is a 19,777 dwt multipurpose tweendecker that was built in 1984. TBS agreed on December 29, 2005 to acquire the M.V. Kibishio Maru for $8.1 million. It was delivered in Ho Chi Minh City, Vietnam on May 2, 2006. The acquisition of the M.V


G E Shipping to Buy a Suezmax Crude Carrier

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to join the Company's fleet during the second quarter of FY 2007-08. The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet. The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3


GE Shipping to Buy Bulk Carrier

Great Eastern Shipping Company sai has contracted to buy a modern Supramax dry bulk carrier. The 2001 built ship, of about 52,179 dwt. is expected to join the company's fleet during Q3 FY 2007-08. The rationale behind the purchase of this ship is to consolidate on the dry bulk segment and to participate in the increasing opportunities arising out of strong global commodity demand. The company's current fleet of 46 ships with an average age of 12.2 years aggregates to 3.22 mn dwt


Ultrapetrol Close Sale of US$25-million Notes Issue

Ultrapetrol (Bahamas) Limited an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today the closing of its previously announced sale of $25 million in aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 (the "Add-On Notes"), which were offered as an add-on to its outstanding $200 million aggregate principal amount of 8


GulfMark To Redeem 8.75% Senior Notes Due 2008

GulfMark Offshore, Inc. called for redemption all of its $130,000,000 aggregate principal amount of 8.75% Senior Notes due 2008 that remain outstanding on the redemption date,August 23, 2004. The redemption price is 102.917% of the principal amount of the Notes, or $1,029.17 per $1,000 principal amount of Notes, plus interest accrued and unpaid to the redemption date. On July 2, 2004 the Company commenced a tender offer and consent


Intelsat Announces Proposed Offering of Senior Notes

Intelsat S.A. announced that its subsidiary, Intelsat (Luxembourg) S.A. intends to offer $1,500,000,000 aggregate principal amount of senior notes due 2021.   Intelsat Luxembourg's obligations under the notes will be guaranteed by Intelsat S.A. The net proceeds from the sale of the notes are expected to be used by Intelsat Luxembourg to redeem $915,000,000 aggregate principal amount of its outstanding 11½/12½% Senior PIK Election Notes due 2017 (the "2017 PIK


Ultrapetrol to Refinance, Sells 7 Barges

In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges. Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $200.0 million aggregate principal amount of its senior secured notes due 2021.


Adani Ports Q2 Net jumps 68%

Adani Port

  Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced financial results for the quarter and half year ended September 30, 2014. The company reported a 67.7 per cent rise in consolidated net profit at $ 95.6 million for quarter ended September 30, helped by strong cargo growth volume. The company’s net profit in the corresponding period of the last fiscal stood at $ 56.97 million, APSEZ said in a filing to the BSE.


Baltic Dry Index Weak, Shipping in Troubled Waters

Image: The International Chamber of Shipping (ICS)

 Baltic Dry Index (BDI), which tracks the cost of shipping iron ore, coal, grain and other materials, is continuing to remain weak as Chinese imports of commodities especially iron ore and coal has gone down portraying dark futures for seaborne trade.  


Decision Sciences Awarded $2.1M DoD Contract for Portable Scanner

Image courtesy of Decision Sciences

  Decision Sciences International Corporation (DSIC) today announced it has been awarded a $2.1 million contract by the U.S. Department of Defense (DoD) Combating Terrorism Technical Support Office (CTTSO) to build a new type of portable-electronics scanner for threat detection.  


Australia Favored Foreign Submarines

Australian submariner, Pic by Royal Australian Navy

 The Australian Government was in favour that most submarine building would be done overseas, says a report in ABC.   Cabinet’s national security committee last October favoured Australia’s new submarine fleet being mostly constructed overseas with the Australian Submarine


Scorpio Tankers Secures Loan Duo

Scorpio Tankers Inc. received commitments for two new loan facilities

  Scorpio Tankers Inc. announced today that it has received commitments from two leading European financial institutions for two separate loan facilities of up to $113.2 million in aggregate to partially finance the purchase of four LR2 product tankers that was announced in December 2014.


Aker Philadelphia to Pay Dividend

Photo courtesy Aker  Philadelphia

The Board of Directors of Aker Philadelphia Shipyard ASA yesterday resolved to pay a dividend to the shareholders of AKPS as of expiry of 3 March 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment of previous paid in


NMM lines up Box Buy

Courtesy of Navios Maritime Partners

  Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party


Brightoil Reports Steady Growth in Interim Results

Photo: Brightoil Petroleum

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million


“Jag Arjun” Delivered to Buyers

G E Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1996-built Capesize Dry Bulk Carrier “Jag Arjun” (164,796 dwt) to the buyers on 26th February, 2015. The company had contracted to sell the ship earlier this month.


Hornbeck Completes $114M Sale of OSVs to U.S. Navy

    The HOS Arrowhead in 2010 (Photo courtesy of Military Sealift Command)

  Hornbeck Offshore Services has closed the sale of three 250EDF class OSVs to the U.S. Navy, the company announced today.   The three vessels were sold for cash consideration of $114 million, the company reported. This is expected to result in a gain on sale of assets of


BW LPG Exercises Purchase Option on Vermilion First

Very Large Gas Carriers Courtesy of BW LPG

  BW LPG Limited exercises purchase option over Very Large Gas Carrier Vermilion First. The VLGC Vermilion First has been on a time charter with BW LPG since the acquisition of the charter from AP Moller-Maersk in 2013. The Vermilion First was built in 2010 at Mitsubishi Heavy Industries


Colombia Detains China-Flagged Ship Transporting Explosives to Cuba

The Port of Cartagena (Photo courtesy of the U.S. Trade and Development Agency)

  Colombian authorities detained a China-flagged ship traveling to Cuba for illegally transporting around 100 tons of gunpowder and other materials used to make explosives and arrested the captain, the attorney general's office said.


Newlead Bags Panamax COA

Michael Zolotas, Chairman and Chief Executive Officer of NewLead says -Our strategy for 2015 is to continue to grow our fleet while taking advantage of market opportunities

  NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704


Cosco Boxship Detained Over Illegal Arms

Colombian authorities detained a vessel operated by China's largest shipping group for illegally transporting thousands of cannon shells, about 100 tonnes of gunpowder and other materials used to make explosives, the attorney general's office said.


Bedeschi Bags Cargo Handling Equipment Order

An order for cargo handling equipment to be used on Nautilus Minerals’ production support vessel has been awarded to Italy’s Bedeschi SPA, marking the second major equipment contract to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited.   


Adani, GVK Get Oz Nod for Port Expansion

 T2 area where Abbot Point dredge spoil would be dumped (Map by Queensland Government)

 The Government of Australia has cleared project proposals to expand a port for two coal projects of both Adani Enterprises and GVK Hancock opposed by green groups.   The Labor government in Queensland will allow mining companies Adani and GVK to dredge in Great Barrier Reef waters to






 
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