U.S. Courts confirm Marco Polo Seatrade Chapter 11 protection and frees vessel. The New York Court supervising the reorganisation of Marco Polo Seatrade and its group affiliates has rejected the motions filed by the Royal Bank of Scotland and Credit Agricole seeking to dismiss the group's US Chapter 11 filings. Both lenders had asserted that Marco Polo Seatrade was not eligible for Chapter 11 protection and had indeed initiated its Chapter 11 case in bad faith. The court rejected all of the lenders' arguments. Antonio Zacchello, MD of Marco Polo Seatrade, says, "We are delighted that the court has confirmed that we acted in accordance with the law and in good faith in starting our Chapter 11 proceedings. We now look forward to developing the Chapter 11 reorganisation plan, preferably on a consensual basis with our lenders and creditors that will enable us to emerge from Chapter 11 as a strong and healthy competitor in the global shipping market." Marco Polo Seatrade has reached an agreement with Credit Agricole to release the 115,000 dwt aframax tanker Montiron from arrest and return it to operations. Credit Agricole’s arrest of the Montiron on July 21, 2011 was one of the precipitating factors for Marco Polo's Chapter 11 filing. Marco Polo Seatrade is confident that it can resume its day-to-day activity in the pool within the next few days. This consensually resolves the litigation begun by Marco Polo against Credit Agricole relating to the release
Marco Group International, a service and equipment provider for the surface preparation industry, has launched its redesigned Marco.us website. The focus of the website’s redesign was to simplify navigation and enhance functionality. The site includes a new, modern visual design, redefining the Marco brand. The site also includes expanded product information, including part number listings and schematic drawings, simplified navigation to get to information in two clicks or less
MARCO Shipyard Seattle has signed a contract to construct a third Millennium Class tractor tug for Harley Marine Services. Measuring 105 ft. (32 m), the multipurpose tug will be identical to its sisterships, Millennium Falcon and Millennium Star, delivered in February and August 2000, respectively. Construction of the tug is ongoing, with delivery planned for March 2002. Similar to its predecessors, the MARCO-designed tug will have an overall beam of 37 ft. (11
PacFish Shipyard acquired shipyard marine equipment at the MARCO Shipyard auction on the Lake Washington Ship Canal, including a Wheelabrator sandblast cabinet with 6-ft. rotary table, equipped with dust collector and re-useable shotblast for zero discharge to the environment. Big Bertha, MARCO’s classic 150-ton Denison hydraulic steel press, was one item that generated bidding action from a shipyard in Anacortes. Shipyard General Manager Doug Dixon was determined to keep Big Bertha on the
Kongsberg Maritime Ship Systems (KMSS) has been awarded the contract to upgrade the fire detection system on the M/V Marco Polo. The cruise vessel is owned by Norwegian Cruise Line/Orient Line in Miami, a part of Star Cruises. The contract includes 1500 Detectors, 800 ‘smart buzzers’ and the Autromaster 5000 Color Graphic Workstation. The Autromaster 5000 offers a color graphic indication, monitoring and control system that has been approved by the maritime authorities and classification
Marco Polo Seatrade and its affiliated companies have obtained final approval of their Plan of Liquidation from the New York Bankruptcy Court overseeing the Chapter 11 case. The plan was unanimously approved by all Marco Polo creditors, and the Court entered the final order at the confirmation hearing held today. Antonio Zacchello, managing director of Marco Polo Seatrade, says, “Our companies worked hard with the banks and our creditors to devise a Chapter 11 Reorganisation
El Paso Energy Partners, L.P. and Cal Dive International, Inc. announced that they have signed a letter of intent to form a 50-50 venture to construct, install, and own a deepwater production hub platform and associated facilities primarily for Anadarko Petroleum Corporation's Marco Polo field discovery at Green Canyon 608 in the Gulf of Mexico. The companies anticipate that the facilities will be completed and online in 2004.
From the left: Marco Fassone, Juventus Chief Sales & Marketing Officer; Nicola Legrottaglie, Juventus player; Jean-Claude Blanc, Juventus President & CEO; Pier Luigi Foschi, Costa Crociere Chairman & CEO, Claudio Ranieri, Juventus Manager, Gianni Onorato, Costa Crociere President.
Kvichak Marine Industries is currently constructing a run of approximately 30 rapid response oil skimmers fitted with Marco Pollution Control CL-1 Filterbelt oil recovery modules for customers responding to the Gulf oil spill. The Kvichak/Marco Filterbelt is suited for high volume recovery of the oil types encountered in this spill. Kvichak is expecting over 100 skimming vessels utilizing the Filterbelt to be in operation on this spill in the coming weeks
The 175,343 gt 'CMA CGM Marco Polo' owned by CMA CGM Group joins the UK ship register. The first in a series of three new 16,000 TEU container ships, for the CMA CGM group to serve on the Asia-Europe routes, the ship was built in Korea by Daewoo Shipbuilding & Marine Engineering Co Ltd, and is almost a quarter of a mile long. The new vessel is also designed with cutting edge technology for high levels of performance, safety and environmental protection
The American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, praised yesterday’s Senate introduction of a bill calling for the enactment of a uniform national standard for the regulation of ballast water and other vessel discharges
On March 13, a diverse coalition of 59 national and regional organizations representing a wide array of business, maritime and labor interests signed on to a letter to Senate Commerce, Science and Transportation Committee leadership, Chairman John Rockefeller (D-WV) and Ranking Member John Thune
A $73.2 million investment strengthens DIS’ fleet newbuilding strategy d’Amico International Shipping (DIS), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers Limited (Ireland) entered
Intesa Sanpaolo, through the Merchant Banking Management of its Corporate and Investment Banking Division, and VEI Capital, investment company of Palladio Finanziaria in the Private Equity Mid-Cap segment, have agreed to buy a stake in RINA S.p.A
Greenpeace in a 'Tweet' report their ship, 'Arctic Sunrise', boarded in the Pechora Sea by the Russian Coast Guard, and the 25 crew arrested and locked in a room, following a protest against Gazprom's Arctic drilling operations. The Greenpeace website carried information that by means of a
Greenpeace International activist Frank Hewetson (U.K.) has been refused bail by the Regional Court of Murmansk in Russia, bringing the number of rejected bail appeals to 10. Activist Marco Weber (Switzerland) also appeared in court today, but his appeal hearing was postponed until October 21 due
The U.S. Coast Guard rescued three people Monday after their 68-foot fishing vessel started to sink 36 miles southwest of Sanibel Island. A member of Sea Tow Marco Island contacted Coast Guard Sector St. Petersburg watchstanders reporting they overheard a crewmember aboard the Cheyenne call out
Greenpeace International said it has already posted bail for nine of the Arctic 30, but does not expect them to be released before the weekend. Lawyers say they are making bail payments - set at 2 million rubles (€45,000) for each detainee - as quickly as they can.
Transas Marine has won the Italian tender of "Consorzio degli armatori del mediterraneo" for supply of navigation equipment for 64 vessels. "Consorzio degli armatori del mediterraneo" is the Italian Shipowners Research Consortium which consists of 6 shipowners (Augusta Due
Following the signing of a memorandum of understanding (MOU) earlier this year, VEEM Ltd. has now agreed territories and principle responsibilities with the Italian marine equipment distributor SAIM Group. SAIM Group will be responsible for increasing awareness of the Australian engineering
Swedish business software applications company IFS say they have been selected by dredging vessel, mining & equipment firm IHC Merwede to support its key business processes. The contract licenses are worth approximately EUR 2 million. IFS Applications will be implemented as IHC
Private Maritime Security Company (PMSC) Aspida Maritime Security said it has opened a new office in Copenhagen, adding to its locatons in London, Athens and Seoul. “Our presence in Denmark will improve the quality of service offered to our current Danish customers and ultimately serve
Pompe Garbarino S.p.A., an Italian manufacturer of centrifugal and positive displacement pumps for marine, naval and industrial fields prepare and release the technical manuals according to Shipdex Protocol . Shipdex is the customization for the shipping community of the international S1000D
FloScan’s new ABS-certified stainless steel flowmeters were tested on the F/V North American powered by a CAT 399 1125hp main engine. The North American is 110’ Marco-built crab boat once featured in the popular Deadliest Catch TV Series.
A cruise ship passenger has died and another was airlifted to hospital after the 22,000-tonne cruise ship 'Marco Polo' was hit by a freak wave in the English Channel during the recent storm. The cruise ship operators, Cruise & Maritime Voyages (CMV) confirm that after a freak wave hit