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Corporation Announces News

13 Oct 2015

Market Growth to Bring More Carnival Ships to China

Rendering of Princess Cruises’ new China-based cruise ship, Majestic Princess. (Image: Princess Cruises)

The Chinese cruise market, expected to become the world’s largest based on surging demand for cruise vacations by Chinese travelers, will see the arrival of two additional cruise brands in 2017 as Carnival Corporation & plc further expand its operations in the nation. Carnival Cruise Line and AIDA Cruises will join Costa Cruises and Princess Cruises in the Chinese market, making Carnival Corporation the first company to operate four brands in China, the company said today in announcing its plans for further development in China.

24 Apr 2015

Algoma Central Orders New Great Lakes Ships

Equinox Class ship Algoma Harvester entering harbour at Port Colborne (CNW Group/Algoma Central Corporation)

Algoma Central Corporation announced that it has acquired a 2009-built handy size self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Limited. The vessel is being renamed the Algoma Integrity. In addition, the company announced that that it has signed contracts with a subsidiary of Uljanik d.d. of Croatia, for the construction of two new Equinox Class 650 foot self-unloading dry bulk lake freighters. These contracts are contingent on the delivery by the shipyard of acceptable security for construction installments required under the contracts.

18 Jul 2014

Algoma Christens Equinox-class Laker on Arrival

Algoma Central Corporation announces the arrival in Canada and the christening of its second Equinox Class bulk cargo vessel, the 'Algoma Harvester'. The christening took place at Pier 26 South in Hamilton Harbour before an audience that included local dignitaries and members of the marine industry. Mrs. Kathy Baske, wife of Jim Baske, the President and CEO of ArcelorMittal Dofasco imparted the traditional blessing. As is customary for these ceremonies, a bottle of champagne was broken against the bow of the ship, a banner revealing the ship's name was unveiled, and Father David Mulholland of the Mission to Seafarers offered prayers and other words of inspiration to the Canadian crew of the ship. Alogma explains that the  Equinox-Class represents the next generation of Great Lakes - St.

08 May 2014

Navios Sells VLCC, Charters out Tanker Newbuild

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Jupiter, a new building MR2 product tanker of 49,999 dwt, was delivered today from a South Korean shipyard. The Nave Jupiter has been chartered-out for two years to a counterparty at a base rate of $14,319 per day (net) plus 50% profit sharing. The charterer has been granted an option for an additional year at a base rate of $15,306 (net) per day plus 50% profit sharing. The Nave Jupiter is expected to generate an annual base EBITDA of $2.8 million and an aggregate base EBITDA of $5.7 million, assuming operating expense approximating current operating costs and 360 revenue days per year.

20 Apr 2014

Terex Corporation Announces Q1 2014 Financial Results

Terex Corporation (NYSE:TEX) will release its first quarter 2014 financial results on Wednesday, April 30, 2014 after market close. conference call to review the financial results on Thursday, May 1, 2014 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. A simultaneous webcast of this call will be available on the Company’s website, www.terex.com. To listen to the call, select “Investor Relations” in the “About Terex” section on the home page and then click on the webcast microphone link. Participants are encouraged to access the call 10 minutes prior to the starting time. The call will also be archived on the Company’s website under “Audio Archives” in the “Investor Relations” section of the website.

08 Jul 2013

Navios Buys Tankship, Extends Charter on Another

Tankship 'Nave Orion': Photo courtesy of Navios

Greece-based Navios Maritime Acquisition Corporation announces delivery of a MR2 product tanker & 1-year charter extension for a chemical tanker. Navios Acquisition also announced that it has agreed to extend the existing charter on the Chemical Tanker Nave Polaris for one additional year ending in Q3 2014 at the increased base rate of $12,188 with 50% profit sharing. Following the delivery of the Nave Equinox, Navios Acquisition will have 25 vessels in the water. The company has contracted 87.5% and 51.8% of its available days on a charter-out basis for 2013 and 2014, respectively.

24 Jul 2012

Navios Provides Fleet Update; Announces New Charters

Navios Maritime Acquisition Corporation Announces Charters for Four LR1 Product Tankers; Fleet Coverage of 98.7% for 2012 and 75.7% for 2013. Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced today that it has chartered out four newbuilding LR1 product tankers. The four LR1 vessels -- Nave Cassiopeia, Nave Cetus, Nave Rigel and Nave Atropos -- have been chartered out to a high-quality counterparty for one year at a rate of $11,850 net per day plus 50% profit sharing. Navios Acquisition anticipates that these four vessels together will generate a total base EBITDA of approximately $6.3 million (assuming operating expense approximating current operating costs and 360 revenue days per year).

22 Jun 2012

Hess & PETRONAS to Develop Offshore Malaysia

Hess Corporation announces that it has signed agreements with PETRONAS to develop the North Malay Basin, located offshore peninsular Malaysia. “The North Malay Basin Integrated Gas Development Project is consistent with our strategy to invest in long life, low risk reserves with attractive returns and exploration upside. The agreements creating the North Malay Basin Integrated Gas Development Project include amendments to the existing Production Sharing Contract for Block PM302, which is operated by Hess. The amendments enlarge the contract area to include nine discovered fields in the North Malay Basin for production of natural gas. PETRONAS has also awarded Blocks PM325 and PM326B to Hess and PETRONAS Carigali that will be explored, appraised and developed.

16 Mar 2012

SLSDC Announces "Pacesetter" Ports

Saint Lawrence Seaway Development Corporation Announces Pacesetter Award Winners for 2011 Navigation Season. The Saint Lawrence Seaway Development Corporation (SLSDC) today announced the four winners of its prestigious Robert J. Lewis Pacesetter Award for the 2011 navigation season. This annual award is presented to U.S. Great Lakes ports that register an increase in international cargo tonnage shipped through the Seaway over the previous navigation season. “The strong numbers realized last year by these Great Lakes ports represents a positive snapshot of the upward turn in U.S.

03 Feb 2012

Kirby Announces 2011 4Q & FY Numbers

Kirby Corporation Announces Record 2011 Fourth Quarter and Year Results. Kirby Corporation ("Kirby") (NYSE: KEX) today announced record net earnings attributable to Kirby for the fourth quarter ended December 31, 2011 of $56.2 million, or $1.00 per share, compared with $31.6 million, or $.59 per share, for the 2010 fourth quarter. Consolidated revenues for the 2011 fourth quarter were a record $550.1 million compared with $286.3 million reported for the 2010 fourth quarter. The 2011 fourth quarter results included a $2.7 million before taxes, or $.03 per share, multi-year income tax refund, a $1.25 million before taxes, or $.01 per share…

16 Dec 2011

Kirby Expands With Three New Units

Kirby Corporation Announces Purchase of Three Coastwise Tank Barge and Tug Units; Purchased Seaboats, Inc. coastwise tank barge fleet consisting of three 80,000 barrel tank barge and tug units for $42.3 million in cash. Kirby Corporation has announced the purchase of the coastwise tank barge fleet of Seaboats, Inc. and affiliated companies consisting of three 80,000 barrel coastwise tank barge and tug units for $42.3 million in cash. The three coastwise tank barge and tug units currently operate along the East Coast and have an average age of five years. Financing of the purchase was through Kirby's $250 million revolving credit facility.

10 Oct 2011

Exhaust Manifold Catalyst System Completes Trial on Tug

New Exhaust Manifold V-CATTM Catalyst System from MIRATECH Successfully Completes One Year Trial on Harbor Tug. MIRATECH Corporation announces a successful first year demonstration of its new, patented V-CATTM Integrated Diesel Oxidation Catalyst System on a vessel powered by two EMD 12-645 roots blown diesel engines in service in California. MIRATECH Corporation, in partnership with Foss Maritime Company, has now successfully completed the first year of a three-year program to demonstrate emissions reduction from the M/V Brynn Foss (Figure 1.)…

03 Oct 2011

Liberty Maritime Corporation Announces Change in Union Affiliation

Philip J. Shapiro, President and CEO of Liberty Maritime

Liberty Maritime Corporation (Liberty Maritime) of Lake Success, New York today announced that it has entered into a new collective bargaining agreement with the American Maritime Officers (AMO) union under which the AMO will provide U.S. citizen licensed deck officers and engineers to Liberty Maritime for the operation of five U.S.-flag dry bulk carriers effective October 1, 2011. Those vessels had previously been subject to a collective bargaining agreement between Liberty Maritime and the Marine Engineers Beneficial Association, District No. 1-PCD (MEBA), which expired September 30, 2011.

18 Aug 2011

Hendry Corporation Announces Receipt of $1 Million Marad Grant

Hendry Corporation is proud to announce that it received a $1 Million grant under the Maritime Administration Assistance to Small Shipyards Grant Program. Hendry Corporation appreciates the efforts of Congresswoman Castor, Congressman Nelson, Congressman Bilirakis, and Mayor Bob Buckhorn. The MARAD funds, along with Hendry’s capital contribution of $1.6 Million, will be used to construct a 1200-ton floating dry-dock. The construction will create 25 new high-paying shipyard jobs. Once completed, the new dry-dock will increase Hendry’s capacity and efficiency in servicing its customers, including the United States Coast Guard. The construction and eventual operation of the dry-dock will result in a significant economic impact for the Port of Tampa and our local economy.

11 May 2011

General Maritime Corporation Announces Q1 2011 Results

General Maritime Corporation (NYSE: GMR) today reported its financial results for the three months ended March 31, 2011. Excluding the $3.3 million non-cash loss relating to the disposal of vessels and vessel equipment as well as the $1.8 million impairment of goodwill and $0.1 million other income, the Company recorded a net loss of $26.5 million or $0.31 basic and $0.31 diluted loss per share for the three months ended March 31, 2011, compared to net loss of $9.3 million or $0.17 basic and $0.17 diluted loss per share for the three months ended March 31…

28 Apr 2011

Kirby Corporation Announces 2011 First Quarter Results

Houston, Texas (April 27, 2011) – Kirby Corporation (“Kirby”) (NYSE:KEX) today announced net earnings attributable to Kirby for the first quarter ended March 31, 2011 of $32.4 million, or $.60 per share, compared with $24.7 million, or $.46 per share, for the 2010 first quarter. The 2010 first quarter net earnings included a charge for retirements and shore staff reductions of $4.1 million before taxes, or $.05 per share. Kirby’s published 2011 first quarter earnings guidance range was $.56 to $.61 per share.

01 Oct 2001

OMI Corporation Acquires Vessels and Charters

OMI Corporation announces an agreement to acquire four product tankers from two other ship owners for approximately $120 million cash in aggregate. Two of the vessels are 35,000 dwt built in South Korea in 2000. One vessel was delivered on September 10, and the other was delivered on September 30. Both vessels will be chartered back to the owner for five years. The other two vessels are 37,000 dwt product carriers under construction in South Korea. Upon delivery in November 2001 and March 2002 the vessels will commence three-year time charters.

06 Nov 2003

Bosch Rexroth Accounces Retirement of Michael Bickel

Bosch Rexroth Corporation announces the retirement of Michael Bickel, vice president and general manager of the company’s Mobile Hydraulics manufacturing facility in Wooster, Ohio, effective January 1, 2004. Bickel began working at the Wooster site in 1965 as a machine operator. He left the position when he was drafted into the U.S. Army. Following a tour of duty in Vietnam, Bickel returned to his position and attended night school, earning an associate degree in industrial engineering from North Central Technical College. He held a number of engineering and sales positions before assuming his current position as vice president and general manager of the Wooster facility.

22 Dec 2003

Todd Shipyards Corporation Announces Dividend

Todd Shipyards Corporation announced that at a meeting conducted on December 17, 2003, its Board of Directors declared a dividend of ten cents ($0.10) per share to be paid March 23, 2004, to all shareholders of record as of March 8, 2004. The Company had previously announced its intent to pay a dividend of ten cents ($0.10) per share payable on December 23, 2003, to all shareholders of record as of December 8, 2003, and quarterly thereafter. Todd Shipyards Corporation is traded on the New York Stock Exchange (symbol TOD). Its wholly owned subsidiary, Todd Pacific Shipyards Corporation, performs a substantial amount of repair and maintenance work on commercial and federal government vessels engaged in various seagoing trade activities in the Pacific Northwest.

20 Jan 2004

Three Exec Appointments at Newport News

Northrop Grumman Corporation announces the following three executive appointments in its Newport News sector: Becky Stewart, currently vice president, Surface Ship and Submarine Fleet Maintenance Program has been named head of the Submarine Program; Irwin F. Edenzon, currently vice president, Business and Technology Development, has been named vice president, Technology Development and Fleet Support; and John J. promoted to vice president, Business Development. All appointments are effective Feb. 1, 2004. Grumman corporate vice president and president of the Newport News sector. As vice president, Submarine Program, Becky Stewart will be responsible for all new submarine construction projects.

02 Jan 2002

Crowley Announces Management Team for Petroleum Services Group

Crowley Maritime Corporation announces the appointment of Bruce Barto to vice president and general manager of its newly formed Petroleum Services group based in Seattle. Barto has profit and loss responsibility for Petroleum Services and reports directly to Tom Crowley Jr., chairman, president and CEO of Crowley Maritime Corporation. Reporting to Barto are Bruce Harland who has been promoted to director, operations and will be relocating from Houston to Seattle; Jim Dwight, sales manager, Alaska; Royal Harris, manager, pricing; Chris Dugan, sales manager, oil transportation; and Hugh Stepaniuk who has been promoted to director, finance.

18 Dec 2001

OMI Corporation Announces Vessel Sale

OMI Corporation announced that it has sold the Soyang, one of its Suezmax tankers, to Jacob Tankschiffahrtsgesellschaft GmbH & Co. KG and agreed to time charter the vessel back for a period of five years. The company has options to extend the time charter and to repurchase the vessel at the end of the time charter. The transaction results in a gain of approximately $5 million dollars, which will be realized over the term charter. The transaction has increased the company’s cash by approximately $20 million after repayment of the debt allocable to the vessel. Craig H. Stevenson, chairman, chief executive and president OMI commented that “in potentially prolonged weak markets…

30 Jan 2002

Philadelphia Gear Gets Offshore Contract

Philadelphia Gear Corporation announces an agreement with the Rowan Companies, Inc., of Vicksburg, Miss., to supply propulsion reduction gearing for the Gorilla VIII drill rig. Gorilla VIII is the latest addition to Rowan’s line of self-propelled jack-up drill rigs. Philadelphia Gear will provide Rowan with marine reduction gears, model 84 DHMGH. The gearing will be used to transmit 1500 hp from each of 4 variable speed DC motors at 1050 RPM to a fixed pitch propeller turning 280 RPM in the twin-screw installation. The gear drives for port and starboard, which are identical in this application, will be arranged for motors spaced 84 in. apart, two forward of the gears and two aft.

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