ESCO MARINE

Five More to Leave MarAd Reserve Fleet

Five ships moored in Virginia, California, and Texas will be headed to recycling yards under contracts announced today by the U.S. Department of Transportation’s Maritime Administration. Two of the ships are from the Suisun Bay Reserve Fleet in Benicia, Calif.; two are from the Beaumont Reserve Fleet in Texas; and one is from the James River Reserve Fleet in Newport News, Va. Maritime Administrator Sean T. Connaughton siad that plans worked out with Congress called for the removal of at least 13 ships from the fleet sites in 2006, and that the agency has almost doubled that number, removing 25. The ships scheduled for recycling include the Vulcan, a former Navy repair ship built in 1941, which will leave the James River site to be dismantled at Bay Bridge Enterprises, LLC, of Chesapeake, Va., under the terms of a contract worth $494,000. In 1978, the Vulcan was the first Navy ship on which women were deployed, except for hospital ships. The two ships from Suisun Bay are Queens Victory, a 1945-vintage Victory Ship, which will go to Esco Marine, Inc., of Brownsville, Texas, under terms of a contract work $1,180,000, and Jason, a Navy repair ship built in 1943, which will go to Marine Metal, Inc., of Brownsville, to be dismantled at a cost of $1, 426,035. The two ships from Beaumont will go to Esco Marine: Maumee, a tanker built in 1956, will be dismantled at a cost of $405,726, and Maryland, a container ship built in 1963

82nd Vessel Departs James River Reserve Fleet

The Resolute is scheduled to depart the James River Reserve Fleet Thursday, August 6, 2009 at 10:00 a.m. in transit to Esco Marine, Inc., in Brownsville, Texas for recycling.  Resolute, a partial container/ break-bulk ship built in 1980, brought a purchase price of $90,726. The vessel is expected to pass under the James River Bridge approximately two hours after the departure.  However, be advised that tow times and passage times vary widely depending on weather and other conditions

MarAd Disposes of More Ships

Three ships will leave the James River Reserve Fleet this summer, thanks to domestic ship dismantling contracts announced today by U.S. Maritime Administrator Captain William G. Schubert. Marine Metals of Brownsville, TX, has been awarded three contracts valued at $3.1 million to dismantle the American Banker, the Mormacmoon, and the Santa Cruz. All three ships are considered high-priority vessels for dismantling and recycling.

Resolve Marine Assists in Sinking USS Oriskany

With a blast that echoed across the waters of the Gulf of Mexico, the USS Oriskany began her 36-minute-long descent into the depths of the blue waters some 25 miles off the coast of Pensacola, Fla., May 17. An estimated 250 vessels filled with spectators encircled the near 900 foot-long decommissioned Navy aircraft carrier to witness its historic plunge into 212 feet of water to begin her new life as an artificial reef as part of the Navy’s new initiative to dispose of several such vessels

Wood Jr. Appointed Chairman at American Superconductor

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, announced the appointment of John W. Wood Jr. as chairman of the Board, effective August 16. He replaces former chairman and company founder, Gregory J. Yurek, who retired as chief executive officer earlier this year. Wood, 67, has been an independent director of AMSC since 2006. Prior to joining AMSC’s Board, Wood was chief executive officer of Analogic Corporation

News: Buzzards Bay Spill Much Larger than Initially Reported

The Coast Guard was notified by Bouchard Transportation that the amount of oil spilled into Buzzard's Bay on April 27 was approximately 98,000 gallons, not the 14,700 gallons Bouchard had originally reported. "Obviously, the difference is significant, and like everybody else, we want to know why," said Captain Mary Landry, the coast Guard federal on scene coordinator for the spill response. "It will definitely be part of our investigation into what happened that night."

Drew Marine Acquires Chemring Marine

Affiliates of Drew Marine (“Drew Marine”) have reached a definitive agreement with Chemring Group PLC (“Chemring”) to acquire Chemring’s maritime interests (“Chemring Marine” or the “Company”) for a cash consideration of £32 million, subject to standard closing adjustments.  Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety (“DMSS”).   

GE Marine, Ingeteam Marine Partnership

GE Marine, a unit of GE Transportation, signed a business cooperation agreement with the Marine division of Ingeteam, a company headquartered in Spain that specializes in electronic control system automation and application engineering in the marine, industry, railway traction and renewable energy fields. The agreement will include joint marketing, sales efforts and technology development in the marine space for a variety of vessels

AfrikDelta Marine Ltd, To Offer Marine and Offshore Services

For 10 years, the Jagal Group has been in partnership with Lamnalco Limited in Nigeria. This partnership was designed to meet the industry's need to provide a world class service and deliver on the local content and cabotage requirements. A new company has been established. AfrikDelta Marine Ltd (ADML).   AfrikDelta Marine Limited (ADML) is a wholly owned indigenous company and is backed by Jagal Group's 40 years of experience in fabrication, manufacturing

Global Marine Sold to Bridgehouse Marine Ltd.

Global Marine Systems Limited (Global Marine), a subsidiary of Global Crossing Inc, and a provider of subsea engineering solutions, has been sold to Bridgehouse Marine Ltd. Bridgehouse Marine is a specialised business that acquires and manages companies providing marine services to the telecommunications and energy industries. Andy Ruhan, Bridgehouse Capital's Managing Director and an investor in Bridgehouse Marine, will become the Chairman of Global Marine