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Board Approves

SC Ports to Invest US$123-Million in 2014 Plan

South Carolina Ports Authority (SCPA) Board of Directors approve its fiscal year 2014 financial plan. During its regular monthly meeting, the Board approved the SCPA's fiscal plan for the coming 12 months. From July 1 to June 30, capital spending of $123 million will fund major infrastructure investments such as the new container terminal at the former Navy Base, new equipment to handle the increased size of ships in the port as well as other upgrades to existing facilities.   The largest single area of spending is for the South Carolina Inland Port in Greer, SC, with $29.1 million planned to cover the remaining SCPA share of the project. The new facility is slated for a September 2013 opening. "Our public seaport system is an economic engine, spurring opportunity all across South Carolina," said Bill Stern, chairman of the SCPA Board. "The inland port will further expand the port's connection to the Upstate and will drive job creation and investment to that region." The financial plan also projects a nearly six percent increase in container volume on the strength of new, weekly services commencing this summer and increased volume from existing services.  


Tognum Has a New Major Shareholder

approximately 22% stake in Tognum AG – which it held through the company Seeker Rekees S.à r.l. – to Daimler AG. Daimler’s Supervisory Board approved the acquisition of this shareholding. Furthermore, Daimler AG has informed us that it intends to acquire a blocking minority (25% plus one share) in Tognum AG. The entire transaction is subject to the approval of antitrust and other authorities.


Harvey Gulf Announces Plans for 3 New LNG-Powered Boats

new Harvey Gulf tonnage depiction

Initial deal worth $165 million; $300 million for 6 additional newbuilds and another $500 million for acquisitions also approved.   Harvey Gulf International Marine announced Saturday that it will sign a deal for three LNG vessels to be built by Signal Shipbuilding. At a Harvey Gulf board meeting held on Satruday afternoon, the Louisiana-based operator's management team approved the $165 million deal, said Harvey Gulf International Marine Chairman & CEO, Shane J. Guidry


Board Approves Waterborne Security Barriers

Authorizing the expenditure of Transportation Security Administration (TSA) Port Security Grant Funds, the Board of Harbor Commissioners has approved an agreement with Siemens Building Technologies for waterborne security barriers. The $2.9m design-build agreement includes the design, fabrication and delivery of 10,000 feet of floating security barriers. The Port of Los Angeles is taking the lead on this joint Port of Los Angeles/Port of Long Beach project which was approved in Round 3 of the


Vessels Change on Route

A conventional ferry will replace one of the PacifiCats on the Horseshoe Bay-Departure Bay route starting February 1 to allow the fast ferries to be phased in more gradually, BC Ferries' board chair Michael Francis and president Bob Lingwood announced. The BC Ferries' board of directors has reviewed the fast ferry implementation program, taking into account concerns of reliability, customer issues and financial considerations


NY/NJ Port Authority Launches New Cargo Distribution Plan

Use of Barges, Trains to Move Cargo Will Reduce Truck Traffic, Improve the Environment The Port Authority launched a unique barge and rail cargo distribution network that will provide jobs and economic activity for the region, speed the flow of goods to consumer markets in the region and help reduce highway truck traffic. The Port of Albany will become the first Northeast port to participate in the program. The Port Inland Distribution Network will move containerized cargo by barge or


All Items Approved at Stolt-Nielsen Meeting

Photo courtesy Stolt-Nielsen Limited

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda. The final dividend for 2013 of $0.50 per common share recommended by the Board of Directors on February 7, 2014 was also approved and will be paid on May 8, 2014 to shareholders of record as of April 24, 2014. stolt.com  


Alphatron Introduce Onboard PABX System

Image credit Alphatron Marine

Alphatron Marine introduces the Alphaconnect Hybrid, a type-approved on board Telephone System (PABX) with integrated IP facilities. The new Alphaconnect 48/128 hybrid uses well known Alphaconnect technology in combination with cable saving IP technology to provide internal marine communications. The Alphaconnect Hybrid offers: • 24 DNV approved analogue stations expandable up to 256 • 24 VoIP telephone ports with POE expandable up to 500 and more


NTSB Reauthorization Act Approved

The Senate Commerce Committee has approved S. 579, the National Transportation Safety Board (NTSB) Reauthorization Act of 2003. The bill would authorize appropriations for the NTSB through 2006, including $76.7 million for FY 2003.


GL: New shareholder Structure to Safeguard Independence

At a shareholders' meeting, Germanischer Lloyd's Executive Board announced the successful defense against the hostile takeover bid by a French competitor. The binding purchase offer by the Hamburg entrepreneur G√ľnter Herz, with secure long-term perspectives for the Society, met with the approval of shareholders who were willing to sell. More than 40% of the shares changed hands. The Executive Board of Germanischer Lloyd has already approved the transfer of these registered shares.


Trojan Marinex BWTS Earns USCG AMS Acceptance

Trojan Marinex BWT - 250 Front.jpg

Trojan Marinex ballast water treatment system receives U.S. Coast Guard AMS acceptance for all water qualities Trojan Technologies’ Trojan Marinex ballast water treatment (BWT) product suite is one of the few to receive United States Coast Guard (USCG) Alternate Management System (AMS)


Norman Murray, Petrofac Chairman Quits

File Photo from Petrofac

  Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from the Board and will step down as Chairman with immediate effect for compassionate reasons.


Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta, Italy, data showed on Tuesday. A 445,000-barrel cargo of Canadian Sour grade loaded on the Sifnos


BWTS SeaCURE Gains USCG AMS Acceptance

Ballast water discharge: File photo

Evoqua Water Technologies LLC says that its SeaCURE Ballast Water Treatment System (BWTS) has been granted AMS Acceptance in all salinities. System highlights SeaCURE benefits ship owners by providing a solution that can operate in fresh


Star Bulk to Acquire 34 Drybulk Vessels

Photo: Star Bulk

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp


GasLog Partners' First Option Vessels Acquisition for $328 mi

Image

  GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder


Greece Secures Aid Tranche after Passing Reforms

Euro zone countries have approved the disbursement of a 1 billion euro tranche of aid to Greece after it passed a series of reforms to qualify for the money, the Greek government said on Wednesday. The decision came after lawmakers passed a bill last week to merge public sector pension funds


ST Engineering 2Q 2014 Unaudited Results

Mr TAN Pheng Hock  President & CEO  Singapore Technologies Engineering Ltd

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that the Group posted quarterly revenue of $1.59b for the second quarter ended 30 June 2014 (2Q2014), which is comparable with the prior year’s revenue in the same period.


Capital Product Taps Christodoulou as CEO, CFO

Capital Product Partners L.P. (CPLP) announced the appointment of Petros Christodoulou as Chief Executive Officer and Chief Financial Officer. His appointment will be effective beginning September 1, 2014. Christodoulou will succeed Ioannis Lazaridis


New Fittings in the Georg Fischer Piping System

Photo: W&O

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, announced new fittings for the Georg Fischer SeaCor marine thermoplastic piping system. The addition of Schedule 80 drain waste and vent (DWV)


Hu Hanxiang Quits Sinotrans Shipping Ltd

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The board of directors of Sinotrans Shipping Limited announced that due to retirement, Mr. Hu Hanxiang has tendered his resignations as independent non-executive director, chairman of the remuneration committee and committee member of the nomination committee of the Board of the Company with


Pentair plc 2Q 2014 Sales at $1.9 bi, Down 3%

Pentair plc today announced second quarter 2014 sales of $1.9 billion. Sales were down 3 percent compared to sales for the same period last year. Adjusted second quarter 2014 earnings per diluted share were $1.04, up 13 percent from adjusted EPS of $0.92 in the second quarter of last year.


ACP & New Locks Contractor Set to Complete Canal Expansion

  The Panama Canal Authority (ACP) and the consortium Groups Unidos por el Canal (GUPC) signed today the variation incorporating to the original contract the agreement reached in March for completion of the Third Set of Locks project.


US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to export fuel from the domestic drilling boom to markets in Asia and Europe. Oregon LNG, which is controlled by Leucadia National Corp


FERC Approves Freeport LNG Export Project

file photo: LNG carrier

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission






 
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