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First Year

ACL Announces Three Year Agreement for Employees and Teamsters Local 89

American Commercial Lines Inc. announced that the company has secured a three year agreement for its shipyard employees with the General Drivers, Warehousemen & Helpers (Teamsters), Local Union No. 89. The three year agreement, which was ratified by over 95% of the voters, provides for first year wage increases ranging from 5% to 18% for various job positions resulting in an overall average wage increase of approximately 11%.


O'Gara Wins Navy Satellite Deal

SatCom Group Holdings PLC, a reseller of mobile satellite communications, said its subsidiary O'Gara Satellite Systems Inc has won a 5-year contract, worth 10m in the first year, from the US government to supply satellite airtime to the US Navy. O'Gara, which is one of the five companies in the world certified as a Defense Information Technology Contracting Organization (DITCO) awardee, won the contract following a tender


Star Bulk Announces Charter

Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its capesize vessel Star Sigma. The three-year charter will commence in April 2009 when the current one-year time charter at a gross daily rate of USD 100,000 will expire. The three-year charter has gross daily charter average rate of $63,000 staggered as follows: USD 69,000 for the first year (April 2009-April 2010), USD 63,000 for the second year (April 2010-April 2011) and USD 57


Star Bulk Announces Charter

Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its Supramax vessel Star Gamma. The new three-year time charter to Korea Line will commence in February 2009 when the current one-year time charter to TMT, at a gross daily rate of USD 28,500, will expire. The new three-year charter with Korea Line has a gross daily average rate of $38,000 staggered as follows: USD 45,000 for the first year (February 2009-February 2010), USD 38


Northrop Grumman Awarded $58.4M Navy Contract

The U.S. Navy has awarded Northrop Grumman Corporation a $58.4m contract to continue life cycle engineering and technical services in support of the Navy's fleet of USS Ticonderoga (CG 47) class Aegis guided missile cruisers. The company's Ship Systems sector will perform the work in Pascagoula, and provide waterfront support in various U.S. Navy ports. This is projected to be a five-year program. The contract award is for the first year; four one-year options are to follow


Lockheed Martin Wins $17.4M Contract

Lockheed Martin Corp. won a $17.4 million contract from the Navy to support a program that oversees all technical products for submarine combat systems. Under the contract, Lockheed Martin of Bethesda, Md., will handle systems engineering, testing, integration and maintenance for Navy submarine combat systems, as well as new Virginia Class submarines. The contract, which is funded for the first year, includes options for up to 10 years


Panama Canal Practices Emergency Oil Spill Techniques

Oil spill emergency response teams gathered at the Panama Canal to attend the sixth International Mobilization, Preparedness & Response Exercise, held Dec. 4-6. During the event, the Panama Canal Authority (ACP) worked with various non-profits to test its emergency response system in affiliation with local and international organizations. MOBEX’s goal is to evaluate the Canal’s response mechanism for large oil spill accidents and measure the ACP’s ability to alleviate the


Marathon Ashland Petroleum Garners USCG Award

Marathon Ashland Petroleum LLC’s (MAP) Marine Transportation group has received the U.S. Coast Guard’s prestigious William M. Benkert Award for Environmental Excellence. Accepting the silver award on behalf of MAP Marine Transportation was Bruce Tilton, manager, Marine Transportation. “This is indeed an honor, and we are truly thrilled to receive this award, says Tilton. “Because this is the U.S. Coast Guard’s premier national award, recognizing marine environmental excellence


Odfjell, Ceres To Merge Chem Tanker Fleets

Norway's Odfjell ASA and Greece's Ceres Hellenic Shipping will merge their chemical transport assets to create the world's largest fleet of clean tanker tonnage. The transaction, a combined $360 million investment, will create a combined fleet of 92 ships, of which 49 would be wholly or partly owned, company officials said. Odfjell will issue 4.9 million shares to Ceres, worth about $121 million, in exchange for nine chemical tankers totaling 335,000 dwt and four ships totaling 160


Exhaust Manifold Catalyst System Completes Trial on Tug

New V-CAT Manifold_092711-01.jpg

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


Carnival's $85M DR Facility to Begin Receiving Guests in October

The site plan for Carnivals Amber Cove facility (Photo courtesy of Ambercove.com)

Carnival Corporation today announced it will begin welcoming guests at its new $85 million Amber Cove port in the Dominican Republic beginning in October 2015. The facility, which represents the largest cruise industry investment ever made in the Dominican Republic


Cold Kills 29 on Italian Coast Guard Boats

Twenty-nine migrants died of hypothermia aboard Italian coast guard vessels on Monday after being picked up from a boat adrift near Libya, reigniting criticism of the government's decision to end a full-scale search-and rescue mission last year.  


Euronav Pays Bond to Buy 15 Maersk Tankers

Photo: Euronav NV

Euronav NV will repay the US$235 million bond issued to finance the acquisition of 15 VLCC oil tankers from Maersk Tankers Singapore, following a closure of its Initial Public Offering (IPO) of ordinary shares on the New York Stock Exchange.


Euronav’s $235m Maersk Venture

Euronav’s $235m Maersk Venture.

  Euronav NV announces today that following the closing of its Initial Public Offering (“IPO”) of its ordinary shares on NYSE, the Company will repay the USD 235.5 million bond issued to partly finance the acquisition of 15 VLCCs from Maersk Tankers Singapore Pte Ltd announced on


Liberian Registry Launches Green Ship Initiative

Scott Bergeron (Photo courtesy: Liberian Registry)

“We have launched a new initiative to help shipowners improve their green credentials and meet other corporate social responsibilities," said Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the registry


Cutlass Express 2015 Commences

Indian Ocean nations and several international organizations gather for the beginning of the fourth iteration of the multinational maritime Exercise Cutlass Express, Jan. 28, 2015.

  Maritime forces from East Africa, South Africa, Europe, Indian Ocean nations, the United States and several international organizations began the fourth iteration of the multinational maritime Exercise Cutlass Express, Jan. 28, 2015.


Investment Impact in Inland Waterways System

National Waterways

  The National Waterways Foundation (NWF) has commissioned and released a two-year, ground-breaking study by the University of Tennessee and the University of Kentucky, “Inland Navigation in the United States: An Evaluation of Economic Impacts and the Potential Effects of


Study Examines Impacts of Inland Waterway Investment

File photo

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment and the need for and benefits of an accelerated program of waterways system improvements that sustain and create American jobs.


Mustang Marine Launches Recruitment Drive

Stewart Graves, managing director, and Rita Beard, safety officer, observing work being carried out by Benjamin Cardew, Paul Hethrington and Richard Davey on the 20m BMT Nigel Gee design wind farm support vessel (Photo courtesy of Mustang Marine)

Mustang Marine, which is under a new ownership and management structure after being bought out of administration in May 2014 by a group of nine investors, has completed a broad range of orders in what was a successful second half of 2014, the company reports


MLC2006 Impact: 113 Ships Detained

August 20, 2014 marked the first anniversary of the entry into force of the Maritime Labor Convention (MLC, 2006). During these first 12 months 113 ships were detained by one of the Paris MoU Authorities for MLC-related deficiencies. This represents 17


Italy Rescues Another Abandoned Migrant Ship

As many as 450, including women and children, on board. Ship being taken to Italian port. A ship carrying hundreds of migrants has been abandoned by its crew in rough seas in the Mediterranean off Italy's south coast in the second such incident in three days


Update: Migrants Arrive in Italy on Packed Cargo Ship

Almost 1,000 migrants arrived in Italy on a cargo ship on Wednesday after apparently being abandoned by its crew in the Adriatic Sea, the Italian Red Cross said.   The mainly Syrian migrants were bundled off the Blue Sky M when it arrived in Italy in the early hours of the morning after it


Lower Oil Prices Start to Pinch Oklahoma State Revenues

  The plunge in oil prices is starting to hurt Oklahoma's energy-related revenues and if the price remains low, could hit income and sales tax revenues if energy workers have less money to spend, the state's treasurer said on Friday.


Overwhelming Support for ‘Hit the HMT Target!’

Habor Maintenance underway at Port of Long Beach

Today, the American Association of Port Authorities (AAPA) applauded a “Dear Colleague” letter to the leadership of the Senate Committee on Appropriations that was signed by 22 senators, urging appropriators to meet the dredging funding commitments made in the 2014 Water Resources


Ocean Rig's $120m Loan Agreement with DryShips

Ocean Rig UDW

Ocean Rig UDW Inc. a global provider of off-shore contract drilling oil services, today announced the following: On November 18, 2014, Ocean Rig’s $120 million loan to its majority shareholder, DryShips Inc. (―DryShips‖), was approved by a special committee of Ocean Rig’s Board of






 
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