Medina International Holdings, Inc. (Pink Sheets: MIHI), a manufacturer of specialized search and rescue boats, announced that it has completed the acquisition of Harbor Guard Boats, Inc. Harbor Guard Boats, Inc. manufactures fire rescue, rescue and patrol boats. Harbor Guard Boats, Inc. had sales of approximately $693,455, $575,110 and $1,478,479 for the years ended April 30, 2007, 2008 and 2009 respectively. President of Medina International Holdings, Inc., Daniel Medina stated that, "This acquisition complements our existing fire, rescue and patrol boat division, adding several high-end, proprietary hull designs that have proven extremely popular." Chief financial officer of Medina International Holdings, Inc. Rao Mankal commented, "This acquisition represents a significant step forward in increasing our product line. We have now expanded our capabilities from 12-ft up to 37-ft boats, thereby giving us a presence in the larger boat market." Albert Mardikian, Chief Executive Officer of Harbor Guard Boats, Inc. said, "I am enthusiastic about this merger. The combined entity of Harbor Guard and Medina International will be the leader in Homeland Security fire, rescue and patrol boats and watercrafts. As part of a publicly traded company our opportunities will expand and our access to additional capital to take advantage of these opportunities will increase." (www.medinamarine.com)
Fishing Holdings, LLC, a manufacturer and marketer of fiberglass fishing boats owned by an affiliate of Platinum Equity, announced its acquisition of Triton Boats from Brunswick Corporation. Terms of the transaction are not disclosed. Triton founder Earl Bentz will join Fishing Holdings and resume his role at the helm of Triton Boats. Additionally, several key members of Triton's executive management and sales representative group will remain on board the Triton team and will continue to
Carolina Skiff, LLC announced that it has become the nation’s number-one fiberglass boat builder, based on new boat state registrations compiled by Statistical Surveys, Inc. for the year ending December 31, 2012. Holding the industry’s top spot in fiberglass boat sales in the saltwater, fiberglass, outboard-powered category since 1997, Carolina Skiff is now the number-one fiberglass boat builder in America, covering all fiberglass boat types (freshwater and saltwater)
Two extreme AC72 foiling catamarans with wing sails went head-to-head at over 40 knots in San Francisco Bay, California. The teams were competing in the 2013 Americas Cup Challenge which took place from September 7-21, 2013. Anyone watching the first few days of Americas Cup sailing will know that it looked like Emirates Team New Zealand had a seemingly untouchable lead – then out of the blue Oracle Team USA completed one of the greatest comebacks in sport to win the 34th
It looks like a typical Gulf of Mexico double-rigged shrimp trawler. However at 110 by 28-ft she will be bigger than most shrimpers. Like her sister, the Poncho, delivered in 2009, the new vessel is also built with robust framing and extra power. Like the Poncho, the as yet unnamed vessel, will be trawling for scrap metal, old tires and any other scrap is at the site of a decommissioned oil rig. The work, mandated by U.S
Saab TransponderTech has been awarded a contract to provide Orkney Island Harbor Authorities with an ARS system that includes AIS functionality. The system boasts a base station implemented into the VTS system delivered by Navtek from Norway and mobile transponders to the pilot boats and tug boats in that region. The mobile transponders also hold special applications with alarm functionality for emergencies as well as administrative functionality for piloting
Marine shipping company Chuan Hup Holdings expects a new contract to ship coal to Indonesia to contribute significantly to group earnings in 2001, according to a company official. Chuan Hup reportedly has a fleet of about 145 barges, tug boats and other vessels, but would have to add to that to service the new contract. The current estimate calls for about 20 new barges and tug boats.
Washington State Ferries officials presented their idea of what the future holds for the Kingston ferry terminal. Ridership on the Kingston-Edmonds route is expected to increase by 70 percent in the next 25 years. Although vehicles will play a role in that increase, passenger-only service will likely see an even greater boost, the North Kitsap Herald reported. A third boat will be added to the Kingston-Edmonds route in the summer of 2010 and year-round in 2012
Burger Boat Company announced that Bill Bitner has joined the Burger Executive Team as the new Vice-President/General Manager. Bitner has previously held positions as Allied Signal-Honeywell Aerospace Division and most recently, from Rolls-Royce Aerospace where he served as Vice President/General Manager for the last five years. Bitner holds an MBA in Global Management, Lean Manufacturing Certification and an Executive MBA Certification.
"My dad, Earnest, Sr., has been in the marine business for over 50 years," says Ernest Dean, Jr. of Nassau, in the Bahamas. At the end of September, Dean Jr., who has a couple of decades in the business himself, will take delivery of a new boat named for his late brother Gurth Dean. The boat will fill a position in the family's mail and general cargo business, left vacant by the loss of a vessel last fall. Currently building at Rodriguez Boatworks in Bayou LaBatre, Ala
Vessels are stacked as Gulf oil operators retrench and day rates fall. In the Gulf of Mexico, vessels serving offshore oil-and-gas exploration and production are being stacked or idled as the rig count there declines. Oil companies are retrenching while crude prices remain weak
Europe’s commercial marine and workboat exhibition held in a working port, Seawork International, has released its plans for demonstrations, launches and conferences. Organizers say Voith will announce a new marine propulsion system that produces more thrust
Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines. “Mercury Marine’s 2.0 diesel engines are ideal for smaller vessels such as the Coast Guard Cutter Boat ATON Medium
Hundreds of protesters marched through the streets of Myanmar's largest city of Yangon on Wednesday to denounce foreign criticism of the country's treatment of stateless Rohingya Muslims. About 300 people, led by about 30 Buddhist monks, shouted slogans against the United Nations and Western
Japanese shipbuilding and maritime transport company Tsuneishi Holdings has expressed a commitment to invest up to $40 million to open ship repair services in Indonesia, reports The Jakarta Globe. The Hiroshima Prefecture-based company plans to invest US$40 million in a
The University-National Oceanographic Laboratory System (UNOLS) informs it is seeking nominations to fill a Fleet Improvement Committee (FIC) Chair position. The position, which becomes vacant in Fall 2015, would see the selected candidate assume leadership after the 2015 Annual UNOLS
The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm to 36 percent will help restructure the business. It has finalized an overall plan for the development of its
At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying dozens capsized on Saturday off the coast of Monastir ... Naval forces rescued 49 Tunisian migrants and recovered five bodies
The Coast Guard is responding to a fishing boat taking on water 130 miles east of Nantucket, Massachusetts, Saturday. At about 12:45 a.m., the fishing vessel Athena’s crew reported to Coast Guard Sector Southeastern New England watchstanders in Woods Hole, Massachusetts
Myanmar's navy found a boat carrying more than 200 Bangladeshis, the government said on Friday, after the military chief said some migrants landing in Malaysia and Indonesia this month are pretending to be Rohingya Muslims so they can get U.N. aid.
Navios Maritime Holdings, vertically integrated seaborne shipping and Logistics Company, slumped to a loss in the Q1 although the result beat by $0.10 per share the average estimate of analysts who had forecast red ink for the dry bulk company.
Malaysian Prime Minister Najib Razak said on Thursday he had ordered the navy to conduct search and rescue missions for thousands of migrants adrift at sea as Thailand's prime minister said his country would not provide shelter. Southeast Asia is battling a migrant crisis that has seen hundreds
More than 900 migrants were rescued in one day from three overcrowded boats en route to Europe from North Africa, an Italian coast guard official said on Thursday. One body was recovered. All the rescues were carried out on Wednesday, the official said
According to The China People's Daily, Indonesia has just sank a large Chinese vessel and 40 other foreign ships caught fishing in The South China Sea. The Jakarta Post cited Maritime Affairs and Fisheries Minister Susi Pudjiastuti as saying that the Gui Xei Yu 12661
Rhode Island based shipbuilder Blount Boats signed a contract with Rhode Island Fast Ferry for the construction of a crew transfer vessel (CTV) that will operate for Deepwater Wind Block Island, the shipbuilder announced today. The 21-meter aluminum vessel was designed by South Boats IOW