TMM Lines has taken delivery of the 3,200teu TMM Guanajuato. It was built by China Shipbuilding Corporation in Kaohsiung, Taiwan.The TMM Guanajuato is a sister ship of the TMM Colima which was delivered to the line in October. A third sister ship, the TMM Yucatan, is due for delivery in January 2003.The new ships are all part of the TMM Lines strategy to constantly upgrade its equipment, especially its container and ship fleets. "These new ships are larger, faster and even more efficient and reliable," says Juan Manuel Gonzalez, Senior Vice President. "We have also expanded our routes and upgraded other services, especially those available through the website."The TMM Guanajuato will begin operations on the Mexico-Asia Express service, before transferring to the Gulf-Mexico-Americas service in early February.The ship has 400 reefer slots and so it is particularly suited to carrying the wide range of temperature-controlled cargo from the East Coast of South America to the Gulf of Mexico.The Gulf-Mexico-Americas service operates a weekly fixed day service over two loops, calling at Veracruz, Altamira, Houston, New Orleans, Miami, Port of Spain, Salvador, Rio De Janeiro, Vitória, Santos, Buenos Aires, Rio Grande, Itajai and Puerto Cabello.
Mexico's Transportacion Maritima Mexicana SA said it is in a solid financial position and would have no problem paying off $142 million in senior unsecured notes due Oct. 16. Responding to a downgrade in its local and foreign currency corporate debt and unsecured senior debt to B plus from BB minus by Standard & Poor's, TMM said it could reassure debt holders and stock holders it would continue to post improved cash flow
The deployment of the 4,050teu Aguascalientes on the Mexico-Asia Premier service completes TMM's newbuild program on the transpacific. The ship, on long-term charter, joins the TMM Monterrey and four other sister ships on the weekly Mexico-Asia Premier service. It is the last of the series of newbuilds, both owned and chartered, which we have taken delivery of in the last 18 months. The 3,200 teu TMM Yucatan, TMM Colima and TMM Guanajuato, all owned ships
Canadian Pacific Limited has agreed to acquire the outstanding 50% of the Americana Ships joint venture from its partner, Transportacion Maritima Mexicana SA de CV of Mexico. CP Ships and TMM formed Americana Ships in January 1999 as an equal partnership. TMM has now decided to narrow its strategic focus to concentrate on its other activities. Completion of the transaction, which is subject to regulatory approval, is expected early in the new year
Canadian Pacific Limited has agreed to acquire the outstanding 50 percent of the Americana Ships joint venture from its partner, Transportacion Maritima Mexicana SA de CV of Mexico. CP Ships and TMM formed Americana Ships in January 1999 as an equal partnership. TMM has now decided to narrow its strategic focus to concentrate on its other activities. Completion of the transaction, which is subject to regulatory approval, is expected early in the new year
Shipping company TMM Lines appointed Hesco Agencies Ltd. as its new shipping agent in Japan in a move to strengthen operations with the Asian region. As of August 10, Hesco will replace Nippon Maritime Co., TMM's previous shipping agency in Japan. TMM Lines and two other shipping lines were partially owned by Mexico's Transportacion Maritima Mexicana but were sold to its partner Canadian Pacific Ltd. in the year's first quarter. Hesco is a wholly owned subsidiary of the Ben Lines Group.
Grupo TMM reported its financial results for the fourth quarter and 12 months of 2007. Comparing the fourth quarter of 2007 with the fourth quarter of 2006, TMM reported the following results: -- Revenues of $84.4 million, up 29.0 percent from $65.4 million -- Transportation income of $5.5 million, up 103.7 percent from $2.7 million -- Operating margin of 6.5 percent, up 2.4 percentage points -- EBITDA of $14.2 million, up 105.8 percent from $6.9 million
According to reports, Houston-based marine services company Seacor Holdings Inc. on Monday said it has sold five vessels and its 40 percent stake in Maritime Mexicana SA de CV to diversified transportation company Grupo TMM SA for $57 million. Seacor, which serves the offshore oil and gas industry, said the five ships are working under time-charter contracts supporting drilling activity in the Gulf of Mexico. Mexico's Grupo TMM has flagged the ships as Mexican.
CP Ships Limited has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. TMM Colima is the third new containership to be delivered under CP Ships' four-year $800 million ship replacement program. It was preceded by sister ship Lykes Ranger delivered in June 2002 and Contship Aurora delivered in September 2002. It is being deployed in the Asia-Americas trade lane.
Grupo TMM has initiated discussions with holders of its outstanding 9½ percent Notes due 2003 and 10¼ percent Notes due 2006 (the Notes) and their representatives (the Bondholders) in order to encourage the formation by the Bondholders of an informal committee to engage the company in negotiations over the terms of a consensual restructuring of the Notes.
Following the opening of the legal entity in Brazil last year, SpecTec is happy to announce the official inauguration of its 25th office worldwide, in Rio de Janeiro that took place on 12th May. The office is located in one of the newest and most beautiful areas of Rio, Barra de Tijuca
UBM Live, organizers of Cruise Shipping Miami 2011, updated the conference schedule of the 27th annual exhibition and conference, which is scheduled for March 14-17, 2011, at the Miami Beach Convention Center: Monday, March 14 World Cruise Tourism Summit Workshops
Horizon Shipbuilding, Inc., Bayou La Batre, Ala., has met a major corporate milestone by delivering the M/V John Grimsley #59 on Saturday, October 10, 2009 and the M/V Isla San Luis on Tuesday, October 13, 2009. The M/V John Grimsley #59 designed by John Gilbert
Jose F. Serrano, chairman and chief executive officer of Grupo TMM, said, "Despite weak global economic conditions, in the third quarter of 2008 TMM reported a revenue increase of 24.1 percent, net income of $14m and earnings per share of $.25
Lloyd’s Register Central and South America Ltd., celebrated the grand opening of its new office with more than 100 clients, employees and local government officials in attendance. After 16 years in its original Veracruz location, Lloyd’s Register’s move to a new
John "Jock" Newbold died Saturday, April 12, in New York. He was among the most well-known and highly respected figures in shipping and financial circles. Jock was most recently a Non-Executive Director of Castalia Partners Limited and also a member of the Advisory Board of Castalia
At the recent Board of Directors and Council meetings of the international classification society ABS, 26 prominent members of the shipping and offshore industries were elected as new members of the society, as well as a new member elected to its technical committee and two corporate officer
Grupo TMM, S.A. reported earnings of $0.41 per share for the fourth quarter of 2005 compared to a loss of $1.62 per share a year ago, and earnings of $3.02 per share for the full year of 2005 compared to a loss of $1.80 per share in the same period of last year
Canada Maritime's new weekly transpacific service has started off with the first Canada Maritime Asian export containers being shipped on TMM Guadalajara from Shanghai. On arrival at the Fraser Surrey Dock within the Fraser River Port south of
Ships Limited has taken delivery of the 3200 teu Lykes Ranger. It is the first in a series of new geared containerships being built under the company's $800 million ship replacement program and was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan.
RTM STAR Center® has been awarded a contract to perform a simulator-based study by TMM (Transportacion Maritima Mexicana), in cooperation with various cruise lines to investigate access by conventionally propelled vessels, as well as AZIPOD® propelled vessels at the inside berth (eastern side of
CP Ships and its partners in the Grand Alliance have reached agreement with Cosco, K Line and Yang Ming to form the Atlantic Space Charter Agreement. As a result of the agreement, which is subject to regulatory review both in the U.S. and EU, one weekly string of five ships with 2
CP Ships, one of the world's top ten container shipping companies, has reached agreement with Dannebrog of Denmark to acquire Caribbean/Latin American market specialist Nordana Line. The acquisition includes Nordana's business and services and its 10,000 teu container fleet
CP Ships has signed an agreement with FastShip to assume commercial and marketing management for FastShip's TransAtlantic services. London-based CP Ships is the TransAtlantic's largest container service operator with twelve separate loops, and the seventh largest world-wide
CP Ships has taken the next step in its major fleet re-building program by signing a contract with China Shipbuilding Corporation of Taiwan for the construction of five geared 3,200 TEU containerships. They are designed to be employed in CP Ships' South American services