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
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
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
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
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
New tractor tug Delta Linda, delivered to Baydelta Maritime, by MARCO Shipyard Seattle, is virtually identical to another tug of the same name built for Baydelta two years ago. Since her delivery in November 1997, the first MARCO-built Delta Linda has been renamed and placed on long-term charter, and the new Delta Linda is her replacement. Like her predecessor, the new tug is 105 ft. long, with a beam overall of 36.8 ft. and a draft of 13-17 ft.
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
Officials said seven are dead and two missing after the containership Jolly Nero crashed into a control tower in the Italian port of Genoa late Tuesday night. Rescue workers continue to search the rubble for survivors while divers scour the surrounding waters.
Kvichak Marine Industries, Inc. recently delivered fifteen 30’ Rapid Response Skimmers to the U.S. Navy. With the addition of these skimmers the Navy will be operating over 85 Kvichak-built skimmers worldwide as the Navy’s tier one response asset.
The 400-tonne keel section for the cruise ship has been laid in the building dock at the Monfalcone shipyard in Italy. The 3,611 passenger vessel, due to be launched in March 2015, will be the flagship of the P&O Cruises fleet, as well as the largest ever constructed for the British market
Nor-Shipping announced the nominees for the 2013 Nor-Shipping Awards which recognize achievements in three different areas – energy efficiency, innovative ship design and young entrepreneurship. HRH Crown Prince Haakon of Norway will present the awards when they are announced at the Opening
Globe Wireless and Arimar have announced that they have entered into a long-term cooperation agreement to provide Globe Wireless products and services to Italian flagged vessels. As part of this agreement, Arimar will act as the billing agent for Globe Wireless Italian flagged
Your Road Service at Sea (R) Reaches Milestone Worth Celebrating. For three decades Captain Joe Frohnhoefer and his wife Georgia of Sea Tow Services International have leveraged their greatest strengths-- Captain Joe's in-depth knowledge of the sea and Georgia's meticulous attention to
Marco Wirén appointed Chief Financial Officer, Executive Vice President & member of the Wärtsilä Corporation Board of Management. Mr Wirén (47), M.Sc. (Econ.) has broad-ranging experience of financial management and international business management
CMA CGM, announced that passengers cabins are now available on board the massive CMA CGM Marco Polo containership (16 020 TEUs). These original cruises offer travelers the possibility to live a unique experience by discovering oceans, seas and continents to the beat of international trade and
The crew on the Abeille Bourbon successfully completed towing operations on the CMA CGM Marco Polo, the jewel in CMA CGM’s crown and the largest containership in the world (capable of carrying up to 16,020 TEUs(*)), as part of an exercise organized by the Atlantic French Maritime Prefecture
Contship Italia Group to implement Navis SPARCS N4 Terminal Operating System (TOS) at five of its terminals. Navis, a part of Cargotec Corporation announce that Contship Italia Group (CSI) group will implement Navis SPARCS N4 at its five terminals
Responders prepare salvage, firefighting & pollution contingencies for a tug and barge that allided with a pipeline near Bayou Pero, south of New Orleans. The fire reportedly has reduced in size by approximately 30 percent, and there are no reports of oil in the water
Responders continued to monitor and prepare salvage, firefighting and pollution contingencies for a tug and barge that allided with a pipeline near Bayou Perot 30 miles south of New Orleans Wednesday. All crew members were able to exit the tug; the captain reportedly suffered second to
The largest ship ever built by the Italian group, & the future Carnival flagship, is launched at Fincantieri’s Monfalcone shipyard. Delivery is scheduled for spring 2014, while sister ship, “Royal Princess”, launched in August 2012
CMA CGM Marco Polo's sistership, enters CMA CGM’s Asia - Europe Trade. The CMA CGM Group announced that the CMA CGM Alexander Von Humboldt, second of the world's largest and state of the art containership’s series, begins its first voyage today, Friday
Bechtel launched a new research initiative to improve the safety of mooring large cargo ships off the coast of West Africa. The combination of heavy ocean swell, squalls and shallow coastlines can create unpredictable conditions which limit the number of dry bulkers that can be moored safely in