MODUTECH MARINE

Navy Accepts Fifth USS Arizona Memorial Ferry

The Navy officially accepted delivery of the fifth USS Arizona Memorial passenger ferry boat from Modutech Marine Inc. of , June 25. This vessel is one of six boats being procured to replace the existing ferry boats that have reached the end of their service life. The boats, procured for the National Park Service by the U.S. Navy's Program Executive Office (PEO) Ships, serve as a ferry service to shuttle visitors to and from the memorial, and continue to support the U.S. Navy's commitment to the National Park Service, as they tell the compelling stories of the Dec. 7, 1941, attack on . The new 78-ft. vessels are constructed of fiberglass and can accommodate up to 149 passengers and three crew members. The new boats use a combination of clean fuel technology propulsion systems, including EPA Tier 2 compliant marine diesel engines, exhaust and fuel system treatments, and biodiesel fuel. This will significantly reduce the "carbon footprint" of the passenger service provided at the national memorial. The ferries also comply with applicable Federal Passenger Vessel Accessibility Guidelines, improving accessibility. PEO Ships is responsible for the development and acquisition of U.S. Navy surface ships, and is currently managing the design and construction of 11 major ship classes and a wide range of small boats and craft

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”).   

Yank Marine Upgrades Marine Travelift Hoist at Tuckahoe Yard

A new 300 mt marine lift for Yank Marine is being installed at its Tuckahoe, NJ shipyard. This new 300 metric ton marine lift was transported from Marine Travelift in Sturgeon Bay, Wisconsin on ten trucks and is currently being erected on site. It was purchased using a $961,676.00  grant from the Maritime Administration under the Assistance to Small Shipyards Grant Program, and will replace Yank Marine Inc.’s  existing 200 metric ton Marine Travelift.

Marine Software Ltd Delivers Marine Planned Maintenance

U.K.-based software house Marine Software Ltd has successfully delivered its DNV type approved Marine Planned Maintenance system on QinetiQ’s Trimaran demonstrator vessel R.V. Triton . This innovative test vessel comes after ten years of research and is the largest motor powered trimaran demonstrator ever built, also being the worlds first of class ship based on this new concept triple-hull design. QinetiQ, formerly known as the Defense Evaluation and Research Agency ( DERA )

Harley Marine was Pivotal Private Equity Speaker at Marine Money

Harley Franco, Founder and Chairman of Pacific Coast operator Harley Marine Services, Inc., was a pivotal private equity speaker at a recent Marine Money conference held in New York City. Mr. Franco represented the private equity position on a finance panel consisting of public maritime companies including Overseas Shipholding Group and Horizon Line. In his presentation, Mr. Franco outlined the various finance structures utilized which enabled him to remain private

Sumitomo And Mitsui Finalize Merger Conditions

Sumitomo Marine & Fire Insurance Co. and Mitsui Marine & Fire Insurance Co. on Tuesday announced terms under which they will merge next October, creating Japan's largest non-life insurer with assets of 5.7 trillion yen ($51.6 billion). In a joint statement, the companies said 1.09 Mitsui Marine shares will be allocated for one Sumitomo Marine share. The merged entity will be named Mitsui Sumitomo Insurance Co. with Mitsui Marine president Takeo Iguchi and Sumitomo Marine president

PFI Marine Electric in Dutch Harbor Year Round

Pacific Fishermen Shipyard and Electric, LLC (PFI Marine Electric) announced that it will now be providing year round marine electrical services in Dutch Harbor, Alaska, as well as the Puget Sound area, maintaining marine electricians on site 24/7. Seattle’s PFI Marine Electric shares facilities with Dutch Harbor’s Lunde Marine Electronics to provide marine electrical services in Alaska along with Lunde Marine’s electronic services

IMUA Names Award-winning Marine Underwriter

Gina Domitrovich, AMIM, Senior Marine Underwriter, AIG Global Marine & Energy, is the first recipient of the new American Marine Claims Award, by Inland Marine Underwriters Association’s (IMUA). The award presentation was made closing ceremonies during IMUA"s 83rd Annual Meeting held in Buckhead, Atlanta, GA. As the winner of the American Marine Claims Award, Ms. Domitrovich will receive a $2,000 cash award and a stipend towards attendance at the International Marine Claims

News: New Marine Diesel Regs Adopted by EPA

Last month the Environmental Protection Agency (EPA) announced that it is adopting emission standards for new marine diesel engines that will be installed on vessels flagged or registered in the U.S. While the new regulations apply mainly to large oceangoing ships, they are merely the first strike in a series of moves designed to reduce emissions from all marine vessels The near-term, Tier 1 standards in this rule are equivalent to the internationally negotiated emission limits for oxides

Cummins,CitiCapital Launch Alliance for Finance

Cummins Inc. and CitiCapital have reached an agreement to promote a co-sponsored marine finance program. Under the agreement customers who purchase Cummins engines for various commercial vessels will receive exclusive finance products provided by CitiCapital. This agreement demonstrates the cooperative efforts of both companies by bringing together the premier manufacturer of marine engines and the world's largest financial services conglomerate. The agreement will initially cover the U.S