WATERFRONT PROPERTIES

Composite Holdings Acquires Land for Marine Vessel Manufacturing

On 22 February, EPS Corporation’s 50-percent owned Composite Holdings Inc. (CHI) acquired approximately 37 acres and some 141,000 SF of marine composite manufacturing facilities, located off the Barge Canal on Merritt Island, Florida. This Merritt Island acquisition, combined with the 2008 acquisition of 50 percent of CHI and its over 13 acres and 89,000 SF of marine manufacturing capacity on the Indian River in Titusville, Florida, provides EPS and its affiliate CHI about 50 acres of Florida waterfront property and over 230,000 SF of modern marine composite manufacturing facilities. “EPS is excited about this investment in the area. We expect great things moving forward with our line of marine vessels, which will be manufactured at these facilities,” said Mr. Francesco A. Musorrafiti, EPS Chairman and Chief Executive Officer. All inquiries regarding EPS Hovercrafts and marine vessels can be made by contacting hovercraft@epscorp.com.  

Giant Container Terminal Expansion for U.S. Port

Global Container Terminals Inc. unveils multi-million dollar expansion plan to develop a container terminal in  Port Of New York & New Jersey Global Container Terminals Inc., a leading North American marine terminal operator with facilities on both coasts, has unveiled final plans for a multi-million dollar expansion project to develop a 70-acre technologically advanced container terminal on the Bayonne, NJ, waterfront

Curaçao to Host 2003 Convention in September

Agustin Díaz, deputy general manager of the Curaçao Ports Authority, Inc., was installed as Chairman of the Board of the American Association of Port Authorities (AAPA) during the September 26th Annual Membership Meeting at The Breakers in Palm Beach, FL. Díaz succeeded as Chairman of the Board Dick Steinke, Executive Director of the Port of Long Beach. “We’re pleased to have Agustin lead the Association on behalf of AAPA’s Latin American delegation,” said Kurt J. Nagle, AAPA President

NWF Study: Many Beneficiaries of Waterway System

Barge Transport Claims Only a Portion of the Benefits Our Navigable Waterways Make Available to the Nation.   The National Waterways Foundation (NWF) has produced a new brochure – “Waterways: Vital to the Nation” – capturing the key findings of the January 2011 study, “Toward a Full Accounting of the Beneficiaries of Navigable Waterways,” by the University of Tennessee Center for Transportation Research

Marine Hwy Fleet Builder Seeks Shipyard Site

Santa Maria Shipowning & Trading, based in Santa Rosa, California, is looking to purchase or lease a 15 or more acre industrial site with 600 feet of waterfront property and a minimum shoreline depth of 15 feet. The site will be used to build and launch a fleet of fuel-efficient, ocean-going container ships as part of the proposed Marine Highway Initiative (MHI) that will remove 20,000 daily truckloads off U.S. highways, transferring the cargo onto 66 new American-built ships

Austal USA to be Contracted for Littoral Combat Ship

The U.S. Navy has awarded a team that includes Austal USA, a $79 million contract to develop a final design for the Littoral Combat Ship (LCS), along with options to build two ships. Total contract value including both shipbuilding options is $536 million. With its unrivalled expertise in large, high-speed aluminum vessels, Austal, as the designer and builder of the proposed LCS vessels, is a major contributor to the team which is led by General Dynamics-Bath Iron Works

Carnival to Build and Operate Cruise Terminal in Honduras

Carnival Corporation & plc has signed an agreement to build and operate a cruise terminal on the island of Roatan, Honduras. Development of the facility - to be called "Mahogany Bay - Roatan" – is expected to start in fall 2007 and be completed by summer 2009 at a cost of $50m. The cruise facility will be situated on 20 acres on the Roatan waterfront and will consist of a two-berth cruise terminal capable of accommodating super post-Panamax vessels and up to 7,000 passengers daily.

Ground Broken on New Shipyard

As part of its continuing plans for diversification and expansion The Great Lakes Towing Company, a 106-year old tug company, now a multi-faceted marine transportation and ship and boat repair business, will construct a new $3,500,000 headquarters building and state-of-the-art shipyard complex on its present 6-acre deep waterfront property in the Old River Channel of the Cuyahoga River in Cleveland, Ohio. Located at the foot of West 45th Street on Division Avenue

U.K. Property Tax Changes Affect Shipping Interests

International accountant and shipping consultant Moore Stephens said many overseas companies, including some connected to shipping interests, will be among those affected by draft legislation from the U.K. government proposing changes to the taxation of U.K. residential property valued at £2m or more. Among other things, companies resident outside the U.K. will, for the first time, be liable to capital gains tax (CGT) on such property, with effect from April 6, 2013.

Harvey Gulf Lease Property at Port of Fourchon

Harvey Gulf International Marine, Inc., has completed the leasing of property in the Port of Fourchon for the support of operations in the deep waters and the shelf of the U.S. Gulf of Mexico. Harvey Gulf plans to upgrade the existing property to support their fleet of offshore towing, supply and diving vessels with Dynamic Positioning Capability. This property will also be capable of supporting other operators in the U.S. Gulf of Mexico