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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


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.


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


Hajioannou Takes on Safe Bulkers Newbuilds

Courtesy Safebulkers

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr. Polys Hajioannou, the Chairman of the Board and the Chief Executive Officer of the Company. Each vessel is scheduled to be delivered in the first quarter of 2017.


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


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


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.


Iron Ore Carrier for Kobe Steel Named Shinzan Maru

ShinzanMaru, a newbuilding iron ore carrier that will sail under a long-term transport contract with Kobe Steel, Ltd.  Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that on October 27, a naming ceremony for the Shinzan Maru, a newbuilding iron ore carrier that will sail under a long-term transport contract with Kobe Steel, Ltd., was held at the Hiroshima Shipyard of Imabari Shipbuilding Co., Ltd.


Damen Unveils New Dredgers

Image: Damen

Damen Shipyards Group has introduced its new line of Trailing Suction Hopper Dredgers (TSHD), comprising of the Marine Aggregate Dredger (MAD) 4000 and 5600 vessels.   Designed in collaboration with Maritime Design and Engineering Services (MD&ES)


ICC, DRD Team Up to Shed Light on Arbitration

ICC Global Headquarters Photo ICC

The International Chamber of Commerce (ICC) has announced it has entered into a cooperation agreement with Dispute Resolution Data (DRD) – a research service for international commercial arbitration and mediation. Under the terms of the agreement


TEN Announces Four New Time Charter Contracts

Photo: Tsakos Energy Navigation Limited

 Tsakos Energy Navigation Limited (TEN), a leading diversified tanker owner, has announced new time charter contracts for four vessels, an aframax, two panamaxes, and a handysize product tanker, all to major end users.    The average contract length of all four fixtures is 14


Teekay Completes Norwegian Bond Issuance

Courtesy Teekay

Teekay LNG Partners L.P. announced that it has issued NOK 900 million in new senior unsecured bonds that mature in October 2021 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately USD 110 million


Austal Wins USN LCS Support Contract

Courtesy Austal

The U.S. Navy has awarded a contract to Austal Limited USA to provide engineering and management services support of the Post Shakedown Availability for Independence-variant Littoral Combat Ship (LCS) Gabrielle Giffords (LCS 10).   The US$12 million cost-plus-award-fee order adds to Austal


Guinea Opens Box Port in UAE Bauxite Complex

Guinea opened a new container terminal on Wednesday, part of a bauxite complex being developed in the West African country by Abu Dhabi investment fund Mubadala. Mubadala signed a $5 billion agreement with Guinea in 2013 to develop a bauxite mine


Retlif Opens Composites Testing Lab

(Image: Retlif Testing Laboratories)

Retlif Testing Laboratories, an independent global provider of EMI/EMC and Environmental (ESS) testing and compliance services, has launched its new dedicated Composites Testing Laboratory.     The result of three years of planning


DryShips Sells 5 Vessels

Image: DryShips

 DryShips Inc., an international owner of drybulk carriers and offshore support vessels, has sold five of its Panamax vessels for an aggregate gross price of $29.4 million.   Company has Sold its two Panamax vessels Amalfi and Samatan, along with their associated bank debt


Diana Shipping Abandons Kamsarmax Order

Courtesy Diana Shipping

 Diana Shipping Inc.  today announced that, through a wholly-owned subsidiary, it provided a notice of cancellation of the shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd


India: Sops for Coastal Shipping of Fertilizers

Indian Shipping Minister Nitin Gadkari. Photo: Official Twitter Page

 The policy for reimbursement of freight for movement of phosphatic and potassic (P&K) fertilizers under the Nutrient Based Subsidy (NBS) Policy and for urea has been extended to movement by coastal shipping and inland water transportation.   


TraPac Selects NASCENT Technology’s Automated Gate System

Photo: NASCENT

 NASCENT Technology, a leading provider of gate automation and related technologies, has announced that it has been selected by TraPac, LLC. to provide the automated gate system and OCR portals for their gate expansion in the Port of Oakland, CA.   


Next Step for Ship Recycling in Bangladesh

Photo: International Maritime Organization (IMO)

 International Maritime Organization (IMO)’s work to promote safe and environmentally sound ship recycling made further progress this week (6-8 November) in Dhaka, Bangladesh, where a roundtable meeting of donors discussed next steps in IMO’s SENSREC project.   


Damen Dredging Equipment Officially Reopened

Kommer Damen (Photo: Damen)

Kommer Damen, Chairman of the Damen Shipyards Group, officially reopened the offices of Damen Dredging Equipment (DDE) in Nijkerk on November 9 following an extensive refit and extension.   Among the facility’s improvements, the building now provides visitors with a complete


Dynagas, Gazprom in New Long-term Time Charter Contract

Photo: Dynagas LNG Partners

 Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy.   The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150






 
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