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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.


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 )


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


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


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


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


Jurong Shipyard Chooses AVEVA Marine

AVEVA Group plc (LSE:AVV), providers of engineering design and information management solutions for the plant, power and marine industries, announced that Jurong Shipyard, a subsidiary of Sembcorp Marine has selected AVEVA Marine (12 Series) as their engineering and design solution for major marine and offshore projects. Jurong Shipyard has a long standing relationship with AVEVA. AVEVA Marine (12 Series), is the most modern offering of AVEVA’s marine solutions and has the ability


Reflex Marine Launches Service Center

Nord Marine Services Ltd 155.JPG

Reflex Marine, producer of the industry-leading Frog and Toro personnel carriers and expert in marine personnel transfer, continues to expand its global network of Accredited Service Centres (ASCs) with the launch of its latest Center in Canada. Nord Marine Services Ltd, a supplier of marine safety equipment, has been appointed to operate the new Accredited Service Center in Mount Pearl, Newfoundland.  As a result Canadian operators will be able to access local maintenance


Virtual AIS Beacons Employed in MH370 Search

Image courtesy of Vesper Marine

Vesper Marine, a manufacturer of marine safety products and virtual Aids to Navigation (ATON), announced that its Virtual AIS Beacons are employed in the search for lost Malaysian airliner MH370 in the southern Indian Ocean. The international search team is a closely coordinated effort between


NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals, rail facilities and various depots in Portland, Seattle and Tacoma


Boater Rescued from Sailboat Blaze

USCG photo

The U.S. Coast Guard assisted with the rescue of a boater Monday after the man's 33-foot sailboat caught fire five miles west of Windmill Point in the Chesapeake Bay. Watchstanders at Coast Guard Sector Hampton Roads received a VHF-FM channel 16 broadcast from Brown at approximately 10:40 a.m


VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine – Crowley Team

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered, combination Container Roll-On/Roll-Off (ConRo) vessels for Crowley following the signing of the contract


TRIYARDS Buys into Aluminium Shipbuilding Expertise

Built by Strategic Marine

  TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products and clients with its latest acquisition of experienced shipbuilding and fabrication companies


B COOL Acquires MEMAC

Image courtesy of B COOL A/S

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine rooms and other technical plants of the ships. B COOL A/S said it has acquired MEMAC


WWII Wrecks Found off North Carolina

The German U-576 departs Saint-Nazaire, France, on the Atlantic coast, circa 1940-1942. The submarine was sunk in 1942 by aircraft fire after attacking and sinking the Nicaraguan freighter Bluefields and two other ships off North Carolina. (Credit: With permission from Ed Caram)

German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered two significant vessels from World War II’s Battle of the Atlantic. The German U-boat 576 and the freighter Bluefields were


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


Sunken Barge Salvage Stops Traffic on Chicago River

The U.S. Coast Guard said it is restricting vessel traffic on the Chicago River to allow for salvage of a sunken barge. All cargo has been removed from the sunken barge in the Chicago River between the Lake and Randolph Street bridges and divers are currently in the water to conduct a survey of


NMEA Awards Top Electronic Makers

Marine electronics experts named 11 products in nine categories as winners of the 2014 NMEA Product Awards. Once again, Furuno USA was named Manufacturer of the Year--Support.      The winners were announced at the National Marine Electronics Association (NMEA) International


Georgia Delegation visit Naval Academy "NYVaptsarov"

Georgia Delegation

  From 15 to 17oktomvri 2014. Naval Academy "N. Vaptzarov "hosted a delegation from Georgia led by prof. Sharabidze Irakli - Rector of the State Maritime Academy, city. Batumi, Georgia. Between the two schools of 20.09.2014g


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


Alu Design to Create Next Generation of Marine Chairs

There’s a new designer in the driving seat at Alu Design. Per Ivar Selvaag, the former Lead Designer at BMW Group and Chief Designer of Peugeot’s concept car division, has signed an agreement with the Kristiansand, Norway-based company to design its marine pilot and operator chairs.


US Navy Orders Demonstration Craft from Willard Marine

Photo courtesy of Willard Marine, Inc.

Willard Marine, Inc. (WMI) announced it has been selected through a solicitation process to supply a demonstration model of a new, advanced combatant craft for the U.S. Navy under an SBIR contract modification awarded to Structural Composites, Inc.


Court Dismisses Boating Industry’s Challenge to EPA Misfueling Rule

The National Marine Manufacturers Association (NMMA) said it is disappointed with the U.S. Court of Appeals decision released on Tuesday, October 21, 2014 for the D.C. Circuit to dismiss the recreational boating industry’s challenge of the Environmental Protection Agency’s (EPA) rule






 
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