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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. This new finance vehicle, coupled with strong and positive banking relationships, allowed the corporate growth necessary to stay private with no ownership effect. “Being a privately held company enables us to take advantage of opportunities presented to us today, which position us for tomorrow.” stated Mr. Franco. “We can take a long term view, rather than engage in the ‘quarterly earnings frenzy’, and also avoid the onerous expense and unnecessary time drain of Sarbanes-Oxley requirements. Remaining private lets us be flexible, utilize sound small company economics, and retain control of our operations”. He added “Right or wrong, the decision is mine.”


Yank Marine Upgrades Marine Travelift Hoist at Tuckahoe Yard

Yank Marines New Travelift: Photo credit Yank Marine

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.


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”).   


Insights: Steve Dickey, Global Marine Market Director, Sherwin-Williams Marine Coatings

Stephen F. Dickey, Market Director – Global Marine for Sherwin-Williams Protective & Marine Coatings

If lifecycle asset management is at the very forefront of an economically driven shipping company, then marine coating have to be a part of that discussion. That, in part, is because the global regulatory scheme is now impacting everything from marine propulsion, vessel discharge protocol, ballast water management and everything in between. The fact that marine coatings can be at the very heart of any and all of these discussions shouldn’t surprise anyone. Stephen F


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 )


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


MN 100: Donjon Marine Co., Inc.

J. Arnold Witte, Sr. (Headshot).jpg

100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812  Email: info@donjon.com Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co., Inc. offers the marine community full-service solutions to meet every need in the field of marine salvage, dredging, material recycling and related services. Founded in 1964, Donjon Marine’s principal business activities were marine salvage, marine transportation, and related services


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


ZF Marine Named Supplier of the Year

Mercury award.jpg

ZF Marine has been chosen as one of Mercury Marine’s suppliers of the year. Each year Mercury Marine evaluates over 1,500 suppliers, and selects only 12 to receive this award.  AJ Halavacs, Pleasure Craft Segment Manager, and John Shea, Account Manager, both from ZF Marine were on hand to receive the award from Mercury Marine.  It was presented last month at the Mercury Marine Supplier Conference in Sarasota. Fla


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


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Transas Installs ECDIS Simulators at Romanian University

Photo: Constanța Maritime University

Romanian university Constanța Maritime University will provide ECDIS training in accordance with the STCW 2010 requirements    Transas Marine has installed the ECDIS simulator class at the Constanța Maritime University (CMU), one of the first maritime schools in Romania to launch


US Obamacare Impacts the Global Marine Industry

The Affordable Care Act (ACA), otherwise known as Obamacare, the recent healthcare plan in the United States, is affecting the international superyacht industry, according to yacht insurance expert Eva Maria Karlsson of Superyacht Insurance Group (SYIG).


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

 Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Becker Marine Delivers Rudder for Largest Containership

CSCL GLOBE

Becker Marine Systems delivers rudder for the largest container ship in the world   At 19,000 TEU, the largest container ship in the world is now picking up speed – with a high-performance rudder from the Hamburg-based company.  


GE Gas Turbine Powers Australia’s Largest Warship

Canberra Class Amphibious Assault Ship concept (Image: RAN)

GE Marine’s LM2500 aeroderivative marine gas turbine now powers the Royal Australian Navy’s (RAN) recently commissioned HMAS Canberra Landing Helicopter Dock (LHD) ship, the first of two LHDs to be introduced into the RAN fleet.  


Kraft Power Named Distributor for Scania USA

Engine room of a rescue boat powered by two Scania 16-litre marine engine. (Photo courtesy of Scania)

Continuing its North American service network expansion, Scania has named Kraft Power as its newest marine distributor.   Kraft Power is now a Scania marine distributor for Florida, Georgia, Bermuda and the Bahamas, representing Scania’s latest marine engine platform: 9-, 13-


YANMAR Debuts EPA Compliant Commercial Engine

6AYAM-ET (Photo: YANMAR)

YANMAR America has introduced its new EPA Tier III compliant commercial marine diesel engine.   Rated at 755 mHP and 1,900 RPM, the new 20.38-liter 6AYAM-ET uses a fully mechanical control system for easy servicing and reliable performance, the manufacturer said.  


First ShipArrestor System Delivered in Norway

The ShipArrestor lassoes a target vessel during a trial

Following a full product trial in New Zealand, the Norwegian Coastal Administration (NCA) has signed its acceptance of the first of two ShipArrestor systems from Miko Marine, making Norway the first country with a system that gives it the ability to protect its shores from the danger of drifting


Crewboat Sold to European Buyers‏

Patrice Tide

  Marcon International, Inc. of Coupeville, Washington infomred that Tidewater Marine International Inc. has sold their 41.2m x 8.2m x 3.5m depth / 2.38m draft, high-speed, aluminum crew / supply vessel “Patrice Tide” to private European operators


Higgins Named CEO of Nichols Brothers Boat Builders

Gavin Higgins (Photo: NBBB)

Gavin Higgins has been appointed Chief Executive Officer of Ice Floe LLC dba Nichols Brothers Boat Builders (NBBB), the company announced today.   Effective immediately, Higgins replaces Matt Nichols, one of the company’s founders who has served as CEO of NBBB since February 2012


RV Sikuliaq: Modern Electric Propulsion & Power Management

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While ships have used electricity to help power vessels for a long time, new and sophisticated diesel-electric technologies are making serious gains in efficiency, noise and environmental impact, and is becoming the propulsion system of choice for some high profile names. 


Rolls-Royce Unveils Gas Turbine Service and Test Facility

Photo: Rolls-Royce

Vice Admiral Simon Lister, Chief of Materiel (Fleet), Defense Equipment and Support, opened a new gas turbine testing center last week at the Rolls-Royce facility at Filton, Bristol, U.K.   The Rolls-Royce Test Facility now includes a new WR-21 Test Cell


Wärtsilä Acquires L-3 Marine Systems International

Wärtsilä Corporation is to acquire L-3 Marine Systems International from NYSE-listed L-3 Communications Holdings Inc. L-3 Marine Systems International (L-3 MSI) is a business sector within L-3’s Electronic Systems business segment primarily focused on the commercial ship industry


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners






 
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