Kvaerner North American Construction Inc. (a subsidiary of Kvaerner) has executed agreements today, with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent bankruptcy cases of Longview Power, LLC. Under the agreements, Kvaerner North American Construction Inc. will receive an aggregate amount of USD 48 million from various parties. In consideration, Kvaerner North American Construction Inc. will settle certain claims and release the Mechanics' Liens filed against the Longview power plant properties in Maidsville, West Virginia, and will waive all objections in the ongoing Longview Power, LLC bankruptcy proceedings. The settlement is subject to approval in the bankruptcy proceedings. The approval is expected to take place in January 2015 with the receipt of the above-referenced amounts anticipated to occur in February 2015. The financial effects of the agreement will be recognised in Kvaerner's first quarter 2015 accounts. The main financial effects will be reduction of retained assets in the group's balance sheet of USD 48 million. The agreements, upon approval, significantly reduce Kvaerner's uncertainty regarding the final financial outcome of the arbitration and resolve all counterclaims from Longview Power, LLC.
Captain Casey M. Herschler Joins North American Marine Consultants. Captain Casey M. Herschler has been named Director of New Business Development for North American Marine Consultants. Capt. Herschler will be responsible for developing new business ventures including new vessel and barge construction as well as conducting vessel, structure, facility and cargo surveys, insurance assessments and monitoring new construction, conversion and repair processes for clients.
K-Sea Transportation Partners LP, said it signed a $40m contract extension for barge construction with the manufacturing arm of American Commercial Lines. The company said the construction of four 50,000 barrel tank barges will begin in first quarter of 2009, with delivery of the first vessel scheduled for December of that year. The three other vessels will be completed in three month increments after that, K-Sea said. The contract extends the barge construction agreement through 2010.
Members of the American P&I Club have elected the first director to come from The People’s Republic of China (PRC). At the annual meeting in New York, Lianyu Zhu of CCCC International Shipping Corporation, Tianjin, was elected to the board for the forthcoming year. Mr. Zhu’s company is a subsidiary of China Communications Construction Company, a major state-owned enterprise (SOE) which is, among other things, the largest port construction and design company in the PRC
Great Lakes Shipyard contracted by Interlake Steamship Company to perform winter work services on two vessels. Two more vessels have arrived: Interlake Steamship vessels, the ATB Dorothy Ann and the Pathfinder, are in Cleveland and docked at Great Lakes Shipyard's facility. A variety of work is to be done, including: miscellaneous steel work, generator maintenance, main drive unit maintenance, and other miscellaneous tug and barge repairs and maintenance.
American Commercial Lines Inc. (ACL) has invested in a 30 percent stake in a newly formed entity with environmental services contractor Summit Contracting, Inc. The financial terms of the investment were not disclosed but are not material to the company. The new company, Summit Contracting, LLC will provide emergency response, environmental remediation, industrial and civil construction services. In addition to continuing to service its established customer base of major transportation
Braemar LNG BV, the wholly owned subsidiary of Braemar Shipping Services PLC, has issued a sub-license to FSP LNG BV for the design and construction of a new Flat-panel, Semi-membrane, Prismatic-shaped (FSP) containment system, under the terms of the license it holds with General Dynamics NASSCO to utilize its patents in the design and construction of FSP LNG containment systems. FSP technology has been developed for marine LNG transport and can also be used in a range of
The House Armed Services Seapower and Expeditionary Forces Subcommittee received testimony on the Federal Ship Loan Guarantee Program, also known as Title XI, which facilitates financing of commercial ship construction in U.S. shipyards. Cynthia L. Brown, President of the American Shipbuilding Association, testified on the importance of funding and improving the program to increase commercial ship construction in the U.S.
Jeffrey Schechtman has been named Deputy Regional Business Manager for the Southeast region of Parsons Brinckerhoff, a global infrastructure strategic consulting, engineering and program/construction management organization. In his new position, Schechtman will work with managers in the nine states that comprise Parsons Brinckerhoff’s Southeast region to enhance relationships with key clients, expand business development opportunities, and invigorate marketing and pursuit efforts
All American Marine, Inc. is pleased to announce their latest vessel contract awarded by the Port of Los Angeles Harbor Department for a new dive and patrol catamaran. The 65’ x 24’ aluminum catamaran will be used by the LA Port Police dive team and will feature Teknicraft Design’s signature hull shape and hydrofoil technology. The design of the vessel is based upon the previously built R/V Shearwater and R/V Fulmar
The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines, reports AFP. The pods could launch surveillance drones in the air or at sea or
While Austal USA based in Mobile, Alabama, still accounts for the lion’s share of revenue (more than 80%) of the Australian based company, the entire corporation has been making waves of late delivering latest technology to naval fleets around the globe.
The four gates for the Deurganck dock lock in the port of Antwerp will begin their journey from China at the beginning of April. The gigantic gates are being built by the Chinese steel constructor ZPMC, together with the trolleys on which the gates will ride
Maher Terminals Holding Corp., the operator of the Port of Prince Rupert’s Fairview Container Terminal, today announced its decision to proceed with expansion of the 7-year-old facility, increasing its container capacity by 500
The $50 billion Nicaragua Canal scheme promises to bring huge economic benefits to Central America's poorest country. But environmentalists and peasant farmers strongly oppose the project. And many are wary of the Chinese company that is to construct the canal.
Troy Container Line launches new direct import service from Port Kelang to NYC American-owned NVOCC Troy Container Line today announced a new direct LCL import service from Malaysia to New York. The company said it will now offer an enhanced import logistical solution from Port
Debris from Japan's 2011 tsunami will continue to litter the North American coastline over the next three years, with everything from refrigerators to lumber and sports balls still floating offshore in the Pacific, an expert said on Tuesday.
Chinese officials have confirmed that the country is currently building a second aircraft carrier, say local media. The People’s Daily, the Communist party mouthpiece, quoted top officials as confirming the craft’s construction
Damen licenses another U.S. shipbuilder Robert E. Derecktor Inc. and Damen Shipyard Group have entered into a license agreement authorizing Derecktor to act as an official builder of Damen designs. The agreement will see Derecktor offer its customers pilot boats and wind farm
Global coatings producer Hempel announced today that it has closed its previously announced acquisition of Jones-Blair Company, a North American protective and waterproofing market supplier. Terms of the acquisition were not disclosed.
When it comes to shipbuilding, welding is the most vital and fundamental manufacturing process in the construction of ships and metal hull boats. At the 2015 American Welding Society’s (AWS) 9th semiannual shipbuilding conference to take place April 7-8, in Virginia Beach, Va
Sanmar AS, a tugboat operator and builder in Turkey, has invested in another shipyard. The new shipyard is located in Altinova, where construction has already begun on several vessels. When totally completed, the new shipyard will be approximately 50,000m2 in total, of which 26
On Saturday, March 7, General Dynamics NASSCO hosted a keel laying ceremony for the first ECO tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. San Diego's First Lady, Mrs. Katherine Faulconer, was the honoree for the ceremony.
China’s Foreign Minister Wang Yi said his country has every right to carry out construction and develop land around disputed islands and reefs in the South China Sea. The construction was necessary and not a sign its policy toward the region was changing
An international consortium of environmental scientists has expressed strong concern about the impact of a controversial Central American canal across Nicaragua. The leading researchers from 18 institutions in the United States and Central and South America -- have voiced