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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.


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


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


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


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.


Omega Approves a Shareholder Rights Plan

Omega Navigation Enterprises, Inc. announced that its Board of Directors has approved a shareholder rights plan designed to enable the company to protect shareholder interests in the event an unsolicited attempt is made for a business combination with or takeover of the Company. The Company believes the shareholder rights plan will enhance the Board's negotiating power on behalf of shareholders in the event of an unsolicited business combination or takeover attempt


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


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  


Singapore Approves Danelec New-Generation VDR

The Maritime and Port Authority of Singapore has issued a certificate of approval for the Danelec DM100 VDR for installation on ships under the Singapore registry. The Singapore approval follows on the type approval and European Union Wheelmark certification for the Danelec DM100 issued by the


Mexico's Lower House Pass Energy Reform Bills

  Committees in Mexico's lower house on Saturday approved laws fleshing out a landmark energy reform that seeks to drive private investment into the long-shuttered sector. The so-called secondary laws, which detail the implementation of the constitutional energy reform passed last year


Diana Shipping Invests in Diana Containerships

diana shipping logo.png

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships Inc. for an aggregate purchase price of $40 million.


Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30, 2014 and 2013 For the three months ended June 30, 2014, the Company had a net loss of $0.6 million, or $0


Scorpio Tankers Update Finance & Newbuilding News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers inform of a new $150 million stock buyback program; initial purchasers' exercise of their option to purchase additional $60 million in convertible senior notes due 2019, and newbuilding vessel deliveries. Main points follow: New $150 Million Stock Buyback Program


New Compliance Challenges for Tanker Owners

Herbert-ABS says use of an approved damage stability computer program is the “only logical option” to meet new International Maritime Organization (IMO) Damage Stability Regulations requirements for onboard damage stability verification.


Danelec DM100 VDR Type Approved to New IMO Standard

Danelec-Marines DM100-VDR Type Approved by BSH

Danelec Marine A/S announced introduction of their new-generation DM100 VDR, the first VDR on the market to be type-approved and Wheelmarked under the new IMO standard. The DM100 VDR has been type approved by Bundesamt für Seeschifffahrt und Hydrographie (BSH) in Germany.  


MMX Board Approves Lease, Possible Sale of Corumba Iron Ore Mine

Brazil's MMX said late Wednesday it approved the lease and possible sale of its Corumba, high-grade iron ore unit, part of efforts to raise cash and restructure the troubled mining company controlled by Brazilian tycoon Eike Batista. The Rio de Janeiro-based company


Ocean Safety’s New Lifejacket to Make SMM Debut

The inflated K2 275N twin chamber lifejacket with AQ40L light and Kannad R10 SRS.

Ocean Safety’s new commercial twin chamber lifejacket range, the K2 275N, will be making its SMM debut in September. At SMM the K2 will be offered in an enhanced professional package. The K2 already includes a powerful AQ40L light as standard and now has the optional addition of the


Vic-Press Receives Five New Type Approvals

Vic-Press (Image courtesy of Victaulic)

Approvals from ABS, BV, DNV, Korean Register and Lloyd’s Register add to previous GL approval Victaulic, a manufacturer of mechanical pipe-joining systems, has received type approvals from American Bureau of Shipping (ABS), Bureau Veritas (BV), Det Norske Veritas (DNV)


Zim Line Debt Restructuring Plan to Proceed

Zim container ship in terminal: Photo Zim Line

Israel's Finance Ministry and Israel Corp have reached a compromise regarding the government's "golden share" in the country's biggest shipping company Zim, paving the way for a $3 billion debt restructuring plan to move ahead. The government last week appealed an Israeli court ruling


Transocean to Appoint Miller to Board

Transocean Ltd. said it is to convene an Extraordinary General Meeting (EGM) of Shareholders September 22, 2014, in Zug, Switzerland, to approve Miller's appointment as follows: Assuming Miller is elected by shareholders at the EGM, the board intends to designate him as Vice Chairman.


New Ship Security Officer Training

Rood Boven Groen has increased its training portfolio by adding the third security training: Ship Security Officer according to STCW’78 including the 2010 Manila amendments. This course has been recently approved by the Netherlands Shipping Institute.


Harbor Commission Approves Port Budget - Long Beach

Capital improvement projects move ahead with $579 million in funding for Long Beach Port

  The Long Beach Board of Harbor Commissioners on Monday, July 14, approved an $858 million budget for the Port of Long Beach in the upcoming fiscal year, with two-thirds of the spending set aside for a robust building and modernization program.


Volumes Up for Cleveland’s New Liner Service

Cleveland Europe Express shows major increase in volume, while established maritime and development finance revenues also up substantially The Port of Cleveland announced that its Cleveland-Europe Express, the dedicated monthly liner service that launched in April






 
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