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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

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

Container Growth Up at GPA

Photo: GPA

Geargia Port Authority Executive Director Curtis Foltz reported a 16.6 percent calendar year to date increase in container volumes, as well as capital projects necessary for future growth.    The Port of Savannah has moved 2.55 million twenty-foot equivalent container units since the start of the calendar year, an additional 365,097 TEUs. Twenty-foot equivalent container units grew by 4.4 percent (13,353 TEUs) in August alone, for a total of 315,175 TEUs.  

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

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.

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.  

Globus Maritime Mulls 1-for-4 Reverse Stock Split

Photo: Globus Maritime Limited

 Globus Maritime Limited, a dry bulk shipping company, announced that its Board of Directors has determined to effect a 1-for-4 reverse stock split of the Company's common shares.    At the Company's annual general meeting of shareholders on September 8, 2016

TraPac to Double Terminal size at Oakland Port

If approved, 14-year lease would add two ship berths, 57 acres of land Photo Port of Oakland.

TraPac, LLC has reached agreement to nearly double its marine terminal size at the Port of Oakland.  Wilmington, CA-based TraPac said today it plans to lease an additional 57 acres and two vessel berths on the Port’s Outer Harbor.

Liberia provides lead with BWMS proposal to IMO

David Pascoe Liberian Registry

The Liberian Maritime Administration is to introduce a proposal to the meeting of the IMO Marine Environmental Protection Committee (MEPC70) in London on 24 October to allow certain ships additional time beyond 2020 to install adequate ballast water management systems as required under the Ballast

Moody's: Ratings of Overseas Shipholding on Review for Downgrade

Photo: OSG

 Moody's Investors Service, has placed the ratings of Overseas Shipholding Group, Inc. (OSG) under review for downgrade, including its B2 corporate family and Caa1 senior unsecured ratings, and the B1 and Ba2 senior secured debt ratings of its subsidiaries, OSG Bulk Ships, Inc

New Inland Port Planned in South Carolina

Plans to develop South Carolina’s second inland port in Dillon were announced by the South Carolina Ports Authority (SCPA) in a move that aims to support growth of intermodal container volumes and expand access to markets in neighboring states and throughout the Northeast and Midwest

Dryships Announces Deleveraging Transaction

File photo: Ocean Rig Corcovado and Ocean Rig Olympia naming ceremony at Samsung Heavy Industries

 DryShips Inc., owner of drybulk carriers and offshore support vessels,  announces deleveraging transaction and vessel sale.   It has reached an agreement with Sifnos Shareholders Inc. (sifnos) to convert $8.75 million of outstanding principal amount  

Rickmers Maritime Trust May Face Liquidation

Image: Rickmers Trust Management Pte. Ltd

[ Updated ] The Singapore-based Rickmers Maritime Trust has come to a sitatuation where the choice is between restructuring the securities in the company to less than half their current value or shutting down.  So it has warned the investors that if its proposed debt restructuring

Alfa Laval BWTS: USCG Type Approval Application Filed

Alfa Laval PureBallast BWTS (Photo: Alfa Laval)

After completion of land-based tests with marine, brackish and fresh water – all using the current ballast water treatment system design – a test report package for PureBallast has now been finalized by the independent lab DNV GL

India Proposes New MCA for Port Sector

Nitin Gadkari, Union Minister of Road Transport & Highways and Shipping. Photo: Official FB Page

 India's Shipping Ministry on Thursday proposed a new model concession agreement (MCA) to attract more private sector investments in the development of port infrastructure.     The proposed MCA will replace the existing agreement which came into existence in January 2008

Baltic Exchange Shareholders Approve Singapore Exchange Takeover

Baltic Exchange shareholders on Monday approved an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal that will give SGX access to the multi-billion-dollar freight derivatives market.

DNV GL Approves Modification for Semi-Submersible Rigs

Photo: COSL Drilling Europe AS

 Following the accident involving COSLInnovator on 30 December 2015, some 100 semi-submersible rigs approved by DNV GL will be reviewed.    Preliminary assessments indicate that a limited number of rigs will be subjected to modifications or operational limitations.  

Merger Unites Canada/US Shipping Voices

The Baie St. Paul discharges stone in August 2015 at the construction site of the new Champlain Bridge in Montreal. (Photo: Canada Steamship Lines/Mario Faubert)

The Chamber of Marine Commerce will assume the assets, liabilities and staff of the Canadian Shipowners Association (CSA) following a new merger agreement that aims to create a united voice for commercial shipping in Canada and the United States.  

Hajioannou Takes on Safe Bulkers Newbuilds

Courtesy Safebulkers

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr

GPA adds 100 acres Auto Processing Space

The Port of Brunswick is the nations fastest growing autoport.  With 652 acres of auto processing space available for development, Brunswick is poised for continued expansion. Find print quality images here. (Georgia Ports

At the annual State of the Port address hosted by the Brunswick-Golden Isles Chamber of Commerce Wednesday, Georgia Ports Authority Executive Director Griff Lynch announced a 100-acre expansion of the Colonel's Island auto terminal, and welcomed Logistec's announcement of the completion of 221

Western India Shipyard for Sale

Photo: Western India Shipyard

 ABG Shipyard Ltd, which was one of the largest shipbuilding company in the country operating in the private domain, has decided to divest its entire stake in its subsidiary Western India Shipyard Ltd (WIS).     The company’s board has agreed to invite suitable bid from the

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