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Court Confirms Marco Polo Seatrade Chapter 11 Protection

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 Launches New Website

Photo: Macro

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 To Construct Third Millennium Class Tractor Tug

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 Acquires Equipment from MARCO Auction

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 Polo Seatrade Exits Chapter 11

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


Sembcorp - Marco Polo Dispute Update

Image: PPL Shipyard Pte Ltd

 Rig-builder Sembcorp Marine (SembMarine) is currently embroiled in a dispute with Marco Polo Marine over a US$214.3 million rig construction contract that Marco Polo wants terminated.   In a statement on Monday, Macro Polo reiterated its position that it is not obliged to take delivery of the rig, as Sembcorp Marine unit PPL Shipyard had failed to comply with certain contractual obligations.   


KMSS To Upgrade System on M/V Marco Polo

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


Kvichak Constructs Skimmers for Gulf Spill

Photo courtesy Kvichak Marine

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


World's Largest Container Ship Flies Red Ensign

CMA CGM Marco Polo: Photo credit UK MCA

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


Damen Performs Cruise Ship Maintenance

Photo: Damen

Astor and Marco Polo receive refurbishment and class survey work   Damen Shiprepair & Conversion has recently carried out a number of cruise ship repair and refurbishment projects in the Netherlands, including Astor and Marco Polo, both operated by Cruise & Maritime Voyages. The vessels have been at Damen Shiprepair Vlissingen (DSV) for a wide-ranging program of scheduled and unscheduled work. Damen carried out its scope within a tight timeframe so that both ships were ready for


Vigor Introduces Freezer Longliner Design

(Image: Vigor)

Vigor will unveil its new 142’ Freezer Longliner designed specifically for North Pacific fishing at this year's Pacific Marine Expo in Seattle, Wash.   Based on an existing design by Marco Marine, the 142’ x 33.6’ x 14’ vessel has a fish hold capacity of 14


Cruise Season at Lerwick Ends on New Highs

Photo Courtesy Lerwick Harbor

Lerwick Harbor has logged its best cruise season yet, with the Shetland port setting four new records in 2016 – and three expected to be broken again next year. The season closes tomorrow, Thursday 6 October, with another visit by the Cruise & Maritime Voyages-operated Marco Polo


Scrubbers Set to Help Shippers Meet the New Sulfur Cap

The 0.5 percent global sulfur cap by 2020 requires marine industry action. “By 2025, up to 20 percent of the global fleet could have [scrubber] technology installed,” estimates DuPont Clean Technologies Marine Business Development Manager, Europe, Marco Dierico


Tersan Shipyard Orders Deck Equipment

Courtesy PALFINGER MARINE

PALFINGER MARINE and Harding Safety recently signed a contract to provide lifesaving equipment and cranes for two fishing vessels being built in Tersan Shipyard. Each vessel will be equipped with two PALFINGER MARINE knuckle boom cranes, one A-frame fast rescue boat davit, and one fast rescue boat


IRClass Backs India’s Efforts to Cut Emissions

The Indian Register of Shipping (IRClass), a ship classification society, has issued a ringing endorsement of the COP21 agreement at the United Nations Climate Conference in Paris.   Arun Sharma, CMD, IRClass represented the voice of the Indian Shipping fraternity at the recently concluded


Cruise Ship Marco Polo Leaves Damen Shiprepair

Photo: DSV

Damen Shiprepair Vlissingen (DSV), part of Damen Shiprepair & Conversion (DSC), has said farewell to Marco Polo, the 800 passenger cruise ship owned by Global Maritime and operated by Cruise & Maritime Voyages.   Launched in 1964 as the Aleksandr Pushkin


Simonetti Appointed VP, Contship Italia Group

Marco Simonetti Courtesy Contship

Effective 1 February 2016, Marco Simonetti assumes the position of Vice President for Developments and Reorganization at Contship Italia Group. The internal re-organization is in line with Contship’s response to evolving challenges of the container business and the Group’s


Recent Vessel Sales - February 2016

Vessel sales for February 2016 (as of March 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age) - Price in Millions USD   Bulk Carriers 2/22 - ID MERMAID - 27,015 - 01 - (15) - $2.1


D’Amico Buys Product Tanker from Itself

Photo courtesy D’Amico

D’Amico Tankers Limited (Ireland) will acquire the product tanker Cielo di Milano (launched in 2003 by Shina Shipbuilding shipyard (South Korea) from its Italy-based sister company d’Amico Shipping Italia for $14m. “The purchase need arises from the characteristics of the


Heinrich Ahlers Retires from Buss Group

Heinrich Ahlers (Photo: Buss Group GmbH & Co. KG)

Heinrich Ahlers has wrapped-up his remaining responsibilities at the Buss Group, and will begin his retirement shortly before his 65th birthday. He had already relinquished his role as CEO of Buss Port Logistics to his successor Marco Neelsen October 1, 2015.  


Quartet of Cruise Records in Prospect for Lerwick

Cruise passengers at Victoria Pier Courtesy Lerwick Port

The first cruise ship arrival of the year will enter Lerwick Harbour this weekend at the start of a record-breaking season which is expected to see the most passengers and vessels yet at the Shetland port, along with the highest gross tonnage of cruise ships, including the biggest vessels to date


OceanSaver Completes USCG Testing

OceanSaver informs it has finalized all testing required for the U.S. Coast Guard (USCG) type approval application of ballast water management systems.   OceanSaver concluded testing along the Pacific coast of North America in close cooperation with ship owner CSL


Legendary Maritime Trades: Focus on the Spice Trade

Photo: CMA CGM

 While the Silk Road initiated trade between the East and the West starting in the 4th Century BC, the first traces of spice trading, which the Romans loved so much, seem to appear as early as the 1st Century.    Over the centuries, and in response to wars and invasions


Marco Polo Appoints Adviser for Business Review

Photo: Marco Polo Marine Ltd.

Singapore's Marco Polo Marine Ltd, whose business includes building and chartering ships, said it has appointed KPMG Services as an adviser to conduct an independent business review of the company.   The company, which has S$50 million ($37.19 million) worth of notes maturing on Oct


Jan De Nul NV expands Jamaican Port

CSD Marco Polo & SHB Concepción

Jan De Nul NV is part of a consortium that is responsible for the expansion of the port of Kingston. In 25 months the access channel and the port basin will be deepened, and the berths on the existing quay walls will be reinforced and renovated






 
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