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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


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


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.


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


Great Lakes Iron Ore Trade Up 13 PCT in October

LCA Logo.jpg

Iron ore shipments on the Great Lakes totaled 5.7 million tons in October, a decrease of 11 percent from September, but an increase of 13 percent compared to a year ago.   October loadings also were up 7.2 percent compared to the month’s 5-year average. Shipments from U.S. ports totaled 5.1 million tons, an increase of 18 percent compared to a year ago.  However, loadings at Canadian ports slipped 16.3 percent from a year ago. Through October the iron ore trade stands at 48


CACI Named MSC Logistics Prime Contractor

MSC RoRo: Photo courtesy of MSC

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide Logistics Services (WLS) contract. The five-year (one base plus four option years) multiple-award indefinite


Revision Proposed for Fishing Vessel Cargo Regs

The U.S. Coast Guard (USCG) proposed revisions to its regulations for commercial fishing vessels carrying flammable or combustible liquid cargos in bulk. The proposed revisions would reflect a 1984 statutory change that eliminated fishery-specific and geographical limitations on a statutory


MV Cape Ray Signals DTRA 'Mission Complete'

DTRA Seal

The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.S. Strategic Command Center for Combating Weapons of Mass Destruction (DTRA/SCC-WMD) is pleased to


Star Bulk to Acquire 34 Drybulk Vessels

Photo: Star Bulk

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp


Blue Denmark in Focus

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  Danish Maritime Authority (DMA) has brought out new marketing material depicting their strong and open maritime cluster, focusing on quality shipping, health, safety and the environment. Together with stakeholders from Blue Denmark, the DMA has developed new


GasLog Partners' First Option Vessels Acquisition for $328 mi

Image

  GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder


JA Moody, Viega Strike Distribution Deal

JA Moody, a national distributor for product lines in the navy and commercial marine marketplace, is now a Viega Marine Distributor for the U.S. shipbuilding and offshore markets. Founded in 1899, The Viega Group manufactures and distributes plumbing, heating and pipe joining systems


COSCO Zhoushan to Build Two Panamax Bulkers

Bulk carrier anon: File photo

COSCO Corporation (Singapore) says that its subsidiary COSCO (Zhoushan) Shipyard has secured a contract valued over USD56 million from an Asian buyer to build two 64,000 dwt bulk carriers. The two vessels are scheduled for delivery in 4Q2016 and 1Q2017 respectively.


AMSEC Wins Two US Navy Contracts

Huntington Ingalls Industries (HII) announced today that its AMSEC LLC subsidiary has been awarded two contracts in support of the United States Navy. Naval Sea Systems Command in Washington, D.C., awarded a contract to AMSEC for technical and logistical support services


COSCO to Build Four Subsea Service Vessels for MSS

A Maersk OSV: File photo

COSCO Corporation (Singapore) says that its subsidiary COSCO (Dalian) Shipyard has secured the 4 ship construction contracts from  Maersk Supply Service AS (MSS) which are worth over US$470-M (excluding owner furnished equipment). MSS has also secured options for two additional subsea supply


DEKRA Acquires NDT, PI & Microscopic Operations of DNV GL

  The international expert organisation DEKRA has taken over the Plant Integrity (PI), Non Destructive Testing (NDT) and Microsopy operations from DNV GL (formerly KEMA) and as such is expanding its industrial operations in the Netherlands


Adani Ports PAT for Q1FY15 Increases by 36%

Adani & SEZ

  Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced financial results for the quarter ended June 30, 2014. Consolidated cargo handled by the company was 33.83 MMT in Q1FY15, an increase of 27%, over corresponding quarter last year


Fortis Earns $47 mi in the 2Q 2014

  Fortis Inc. achieved second quarter net earnings attributable to common equity shareholders of $47 million, or $0.22 per common share, compared to $54 million, or $0.28 per common share, for the second quarter of 2013.  For the first half of 2014


Redwood City Sees Cargo Movement Boost

CSL Tacoma (Photo courtesy of the Port of Redwood City)

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction in the Bay Area and the high quality of building materials from British Columbia


Danaos Corporation 2Q and 1H 2014 Results

Danaos Corporation

  Danaos Corporation ("Danaos") (NYSE: DAC), a leading international owner of containerships, today reported unaudited results for the period ended June 30, 2014. Highlights for the Second Quarter and Half Year Ended June 30, 2014:






 
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