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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.


Redwood City Reports Strong Cargo Volumes

Photo: Port of Redwood City

Port of Redwood City reports fiscal year cargo movement fourth highest in modern history   After three years of annual double digit growth in Port of Redwood City tonnage from 2012-2014, the fiscal year 2015 Port tonnage declined slightly by 3.8 percent.  


New Standard for Offshore O&G Project by DNV GL Led JIP is Cost Saving

DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering Company (DSME) and Samsung Heavy Industries (SHI) that will establish a new international

  Variations in owner, operator and regulatory requirements during engineering and construction phases at South Korean shipyards present a huge challenge for operators and drive up costs. DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI)


Vale Coal Stacker Collapses at Mozambique Port

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale, which is aiming to start coal shipments in the third quarter of this year, three sources told Reuters on Monday. The giant piece of machinery


Self-lubricating Bearing Polymer: Safe, Easy to Machine

Photo: Vesconite

Many plastics and metallic alloys present machining challenges as some deform and are difficult to maintain exacting tolerances, while others require strict and costly adherence to environmental regulations. Vesconite claims to solve these issues with a high-performance bearing polymer that is


Cheniere’s Maiden LNG Spot Deal At $7.20/MMBtu

Image: Sabine Pass LNG terminal

 Cheniere concluded its maiden LNG spot trade earlier this week at for late-July delivery to an Asian buyer, reports Platts quoting a source with direct knowledge of the deal.   Sources told Platts that the maiden trade was completed at $7


Barge Ballast Pumps Run Smooth with Vesconite

vesconite.jpg

Vertical turbine pumps keep barges trimmed and balanced by moving water ballast. Bearing failure at this critical time is not an option. Vesconite Hilube, an internally-lubricated polymer that can be used in wet and corrosive conditions, outperforms traditional bushing materials


American Boatbuilders Association Select IMTRA

  IMTRA, the leading manufacturer and importer of quality marine products, announced today its selection by the American Boatbuilders Association (ABA) as a Supplier of Choice for lighting products. With a focus on service and product development


JNPT Installs ECIL's Radiological Detection Equipment

Neeraj Bansal, Chairman in-charge JNPT (left) receiving the Radiation Detection equipment from P. Sudhakar, CMD, ECIL (right) in the presence of Dr. R.K.Sinha Chairman, AEC and Secretary, DAE)

  P.Sudhakar, Chairman & Managing Director, Electronics Corporation of India Limited (ECIL) handed over a critical homeland security system - Radiological Detection Equipment (RDE) to Neeraj Bansal, Chairman In charge, Jawaharlal Nehru Port (JNPT), Mumbai in presence of Dr. R.K


2GO Mulls 25% Hike in its Revenue

Image:  2Go Group

 2GO Group, Inc. plans to boost profit by a quarter this year amid a sanguine outlook on its logistics, distribution, and express courier businesses, a company official said.   The company has set a P1.1-billion ($0.04billion) net income target this year


Videotel Secures NMA Approval

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  Videotel, the leading international provider of e-Learning maritime training solutions and a company of KVH Industries, Inc., has received the approval of the Norwegian Maritime Authority (NMA) for its security training courses. Videotel’s “Maritime Security Awareness


Marine Construction: Equipment Drives Efficiency

When the crew at O’Quinn Marine Construction put its new JCB telehandler to use, they were amazed at its ability to maneuver around small areas while easily lifting up to 14,000 lbs. (Photo: JCB North America)

Driving over a bridge, walking on a pier or even docking a boat are activities most people take for granted. Have you ever given any thought to how those structures are constructed over water with the ability to last for generations?  


GE Shipping to Raise Funds via NCD

Pic: Great Eastern Shipping Company

 Great Eastern Shipping Company (GE Shipping), India’s largest private shipping company, is planning to raise up to Rs 500 crore ($79 million) through non-convertible debentures (NCDs) on a private placement basis, says PTI.  


Golar Acquires Financing for GoFLNG

Golar LNG

  Golar LNG Limited announced today that it has received an underwritten financing commitment for its first GoFLNG project from CSSC (Hong Kong) Shipping Co. Ltd ("CSSCL") in relation to a conversion financing and sale and leaseback transaction for the GoFLNG Hilli.


Ledcor Adds Six New Cargo Barges

Photo courtesy of Ledcor Group

The Ledcor Group of Companies announced that it has taken delivery of six new cargo barges to serve clients in southwest B.C. Ledcor said its marine division has grown significantly since its inception in 2012 and is on target to double its fleet size by 2016


Golar Receives Financing Commitment for GoFLNG Hilli

Golar LNG Limited has received an underwritten financing commitment for its first GoFLNG project from CSSC (Hong Kong) Shipping Co. Ltd (CSSCL) in relation to a conversion financing and sale and leaseback transaction for the GoFLNG Hilli, the company announced today.  






 
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