Board Approves

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. Tognum’s Board of Management welcomes this decision of Daimler and EQT. CEO Volker Heuer stated: “We are delighted that Daimler AG fully supports Tognum’s growth strategy – as a reliable business associate and now also as a strategic investor. EQT was the optimal partner for the implementation of our corporate strategy focused on profitable growth and today’s independence. Less than one year after the initial public offering, the previously open question of what would happen to EQT’s remaining stake has been successfully resolved. With Daimler as a strategic anchor investor, the independence of the company that was achieved through the IPO has now been secured long term in the interests of our customers and shareholders.”

Harvey Gulf Announces Plans for 3 New LNG-Powered Boats

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

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

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.

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

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 Günter 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.

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

Nordic American Tanker AGM Results

Nordic American Tankers Limited announced the official results of its 2011 Annual General Meeting, held on June 1, 2011 at 10:00 a.m. in Hamilton, Bermuda.  The following resolutions were approved with more than the necessary majority required for each: 1. All of the nominees of the Board of Directors were approved to serve until the next Annual General Meeting of Shareholders; 2. Deloitte AS was approved as the company's independent auditors until the close of the next Annual

Alphatron Introduce Onboard PABX System

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