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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.


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


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.


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


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


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


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


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.


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


Trelleborg Debuts New Dredging Hose in China

Photo: Trelleborg

Trelleborg’s engineered products operation is now manufacturing a pre-bend rubber dredging hose in China – the only one of its kind available in the country, according to the manufacturer.   Currently exclusive to Trelleborg’s Chinese manufacturing operation


Negative Outlook for Global Shipping Industry: Moody’s

Photo: Global Shippers Association (GSA)

 Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative.   "The negative outlook reflects our expectation that earnings will worsen, with freight rates likely to remain depressed amid ample supply," says Mariko Semetko


Suezmax Tanker Delivered to NAT

Nordic American Tankers Limited (NAT) has today taken delivery of Nordic Castor, the second of four secondhand Japanese-built Suezmax tankers acquired in May 2016. The first of the four vessels, Nordic Luna, was delivered June 1, and the third vessel is expected to be delivered near the end of


ABS Group Signs on Elba LNG Project

ABSG Consulting Inc., a subsidiary of ABS Group of Companies, Inc. (ABS Group), has been contracted by Kinder Morgan, Inc. to develop a Maintenance and Integrity Program for the liquefied natural gas (LNG) regasification terminal at Elba Island (Elba LNG Project) near Savannah, Georgia.  


Dredging Begins in Milford Harbor

Photo by Milford Mayors Office

 The U.S. Army Corps of Engineers will be dredging MIlford Harbor over the next two weeks, says a press release from Milford Mayor Ben Blake’s office.   Army Corps will be using a 150-foot vessel called the Currituck, which is a special purpose dredge barge.  


Port of Little Rock Reports Strong May Volumes

Photo: Little Rock Port Authority

The Port of Little Rock has reported 73,000 net tons of total barge tonnage in May. Dock activities compared favorably over the previous year with Logistic Services, Inc. (LSI) handling 228 barges during the first five months of the year. 350


Rapido Gee: 42m Utility Vessel Delivered

Photo: Incat Crowther

Rapido Gee, a 42m steel monohull utility vessel, has been delivered and is currently in transit to the Middle East. The vessel will be operated by Rashied Marine Services in the service of offshore platforms.   Designed by Incat Crowther and built by Strategic Marine


Safety Boost with ABS Guidance for Developing Processes, Procedures

New guidance answers industry demand for help in creating, implementing, and maintaining safe and effective technical instructions. Photo ABS

ABS has published the ABS Guidance Notes on the Development of Procedures and Technical Manuals, providing clients with best practice methodologies for developing instructional materials. “Input from ABS clients and maritime industry groups along with data gathered through the ABS Mariner


Panama Canal Expansion: Test Runs Begin

Photo: Panama Canal Authority

Initial test runs through the expanded Panama Canal began Thursday as tugs led a bulk carrier into the first set of locks on the Atlantic side of the canal, AP reports.   Chartered to perform the test operation is the 836-foot-long bulker Baroque


Seawater Carbon Capture Process Receives US Patent

Rear Adm. Mat Winter, chief of naval research, holds a press conference at the ONR exhibit during the 2016 Sea-Air-Space Exposition. (U.S. Navy photo by John F. Williams)

The Electrolytic Cation Exchange Module (E-CEM), developed at the U.S. Naval Research Laboratory (NRL), provides the Navy the capability to produce raw materials necessary to develop synthetic fuel stock at sea or in remote locations.   


Safe Bulkers Reports Q1 Loss

Photo: Safe Bulkers Inc.

 The Athens, Greece-based  Safe Bulkers Inc. (SB) on Thursday reported a loss of $17.8 million in its first quarter. The shipping company posted revenue of $24.7 million in the period.    It has a loss of 25 cents per share


G E Shipping Acquires Secondhand VLGC

Photo Courtesy G E Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Very Large Gas Carrier “Jag Vidhi” (1996 built) of about 76,931 cbm. The company had contracted to buy the vessel in April 2016. With the inclusion of the vessel


Nordic American Tankers Expands Suezmax Fleet

Nordic American Tankers Limited (NAT) has taken delivery of Suezmax tanker Nordic Luna, the first of four secondhand sister vessels purchased as part of the company’s plans for fleet expansion.   The second vessel is expected to join the NAT fleet in mid-June


G E Shipping delivers Crude Carrier “Jag Laxmi” to Buyers

Jag Laxmi Photo G E Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1999 built Aframax Crude Carrier “Jag Laxmi” to the buyers.  The vessel was contracted for sale in April 2016. The Company’s current fleet (excluding “Jag Laxmi”) stands at 31 vessels


Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Photo: Mermaid Maritime

 Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached an agreement with builder China Merchants Industry Holdings to postpone the delivery dates for its new assets currently






 
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