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.
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
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.
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.
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
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.
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
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
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
Project will enhance wharf, rail and yard infrastructure to optimize terminal operations The Port of Los Angeles will begin construction this summer on a two-year project to improve the marine container terminal operated by Yusen Terminals LLC
The U.S. Fish and Wildlife Service authorized the nonlethal, incidental, and unintentional take of small numbers of polar bears and Pacific walrus that result from Shell’s exploratory drilling activities in the Chukchi Sea. The agency gave authorization despite finding information
After signing an order for the construction of five new ships two weeks ago, the Italian shipowner Grimaldi Group has signed another contract for the construction of three new PCTC-type ships (Pure Car and Truck Carriers) at the Chinese Jinling shipyard
Green Marine, a North American environmental certification program for the marine, port and terminal industry, officially recognized the Port of New Orleans recently as a certified Green Port. The Port of New Orleans is the 8th U.S. Port to reach certification in the voluntary environmental
International P&I insurer continues positive trend into 2015 The American Club reported solid progress during 2014 at the annual meeting of its members held in New York today. Despite a challenging economic climate, the club’s business had developed favorably
BOEM and Association of American State Geologists to collaborate on offshore marine minerals and oil and gas information sharing The Bureau of Ocean Energy Management (BOEM) and the Association of American State Geologists (AASG) have signed an agreement to foster interaction
Newport News Shipbuilding to host ground-breaking ceremony for aircraft carrier and submarine production facility Huntington Ingalls Industries' Newport News Shipbuilding subsidiary will hold a ground-breaking ceremony for its new Joint Manufacturing and Assembly Facility (JMAF) on Monday
One of the world's premiere ship repair facilities, ASRY based in Bahrain, unveils its move into new vessel construction. ASRY signed an agreement with the Bahrain Coast Guard to design and construct a new Landing Craft for the transport of vehicles, potable water, and fuel
Webb Institute presented Thomas B. Crowley, Jr., CEO and Chairman of the Board of Directors at Crowley Maritime (Oakland, CA), with an Honorary Doctorate of Commercial Science degree at Webb Institute’s 119th commencement on Saturday, June 20th.
The Port of Bellingham is poised to change the layout of 7.66 acres of industrial property in Fairhaven and build new infrastructure to support the expansion of two major waterfront employers, All American Marine and Fairhaven Shipyard. “All American Marine and Fairhaven Shipyard provide
“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in
Harvey Gulf continues growth despite industry downturn; new affiliate Harvey Shipyard Group acquires Gulf Coast Shipyard Group Harvey Gulf International Marine (HGIM) is launching a new affiliate, Harvey Shipyard Group, to manage its shipbuilding assets, the company announced today
Ceremony signals the start of construction for the second SEA-Vista ECO Tanker to be constructed at the General Dynamics NASSCO shipyard in San Diego. General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, signaled the start of construction for the second of three 50
Aker Philadelphia Shipyard ASA has appointed Jan Ivar Nielsen as Chief Financial Officer effective September 2015. Since 2009, Nielsen has held the position of CFO of VARD Holdings, a publicly listed global designer and builder of offshore and specialized vessels with 10 facilities
The mantra of recent times has been the worldwide trend to ‘mega’. Mega container ships created the need for mega ports which required mega dredging projects. These in turn demand mega dredging vessels. All this is true but disregards another development: the consolidation of the major