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Grand Banks

Grand Banks Yachts Moves

Grand Banks Yachts has moved its worldwide offices to Seattle while worldwide sales headquarters remain in the company’s long-standing Norwalk, Conn. Facility. Global marketing services, headed by recently-appointed VP Marketing Rob Livingston, are now situated at 2100 Westlake Avenue North, Suite 107, Seattle 98109, located directly on the west side waterfront of Lake Union. Vice President of Sales Ed Roberts continues to manage the Norwalk offices, overseeing worldwide sales along with the American service support staff. Grand Banks also maintains both west coast and European sales offices.


First Orphan Basin Oil Exploration for mid-August

In mid-August, Chevron Canada will drill the first exploratory well in the Orphan Basin. According to industry experts, the exploration of the Orphan Basin could mean the beginning of a new and potentially lucrative phase of Newfoundland and Labrador’s offshore oil industry. The basin is in an area that has not been explored before, where the weather is harsh and the water is deep. However, the potential is massive — the Orphan Basin could hold more oil than the Jeanne D'Arc Basin on the


Halifax Wins Another Order

Halifax Shipyard won another offshore contract. The Irving Shipyard in Halifax, Nova Scotia has landed a contract to modify and refit the Glomar Grand Banks semi-submersible drill rig. The work will be completed at the Irving facility in Woodside. The job, which was commissioned by Global Sante Fe of Houston, Texas, will employ 350 people for a minimum of three months starting in January. The Rig will tie up at Woodside Facility on the December 19, and prepare for the upgrade


GlobalSantaFe Reports 2Q Earnings

GlobalSantaFe reported net income for the quarter ended June 30, 2002, of $73.4 million, or $0.31 per diluted share, on revenues of $501.7 million, versus $84.3 million and $0.69 per diluted share for the corresponding 2001 quarter. For the six months ended June 30, 2002, GlobalSantaFe reported net income of $150.5 million, or $0.63 per diluted share, on revenues of $990.4 million. This compares to net income of $125.0 million, or $1.03 per diluted share, for the six months ended June 30, 2001


Grand Circle Cruises Buys 'MV Corinthian'

MV Corinthian: Photo courtesy of Grand Circle

Vince Cook, CEO of Grand Circle Cruise Line, informs that the company has acquired the 'M/V Corinthian', a 98-passenger, ocean-going vessel that currently operates in Antarctica.  They had chartered the ship for the past year and intend to expand the Corinthian's operations with the launch of three new small ship cruise itineraries in 2015. The ship was acquired for an undisclosed price from Travel Dynamics International, an operator of educational programs aboard small cruise ships


International Ice Patrol Opens Annual Ice Season

A Coast Guard International Ice Patrol team conducts initial ice patrols for the 2015 ice season on Feb. 5, 2015. The International Ice Patrol opened the annual ice season on Feb. 3, 2015. (U.S. Coast Guard photo contribute

The U.S. Coast Guard International Ice Patrol opened the annual ice season February 3 to detect and track icebergs in the North Atlantic Ocean. The IIP deployed its first Ice Reconnaissance Detachment (IRD) to Newfoundland, Canada, to meet with Canadian partners and to conduct the initial aerial patrols of the season. The IIP conducts iceberg reconnaissance using HC-130J Hercules aircraft from U.S. Coast Guard Air Station Elizabeth City, North Carolina


Cruise Ships Prepare for Hurricane

Five Miami-based cruise ships have changed their itineraries to avoid Tropical Storm Chris. Forecasters have issued a hurricane watch for the southeastern Bahamas and the Turks and Caicos islands as Tropical Storm Chris threatens to intensify. Royal Caribbean's 3,114-passenger Navigator of the Seas, which plans to return to Miami by August 5, skipped a visit to St. Maarten and will arrive in Nassau on August 4, a day earlier than planned


Grand Alliance Enhances Routes

Grand Alliance enhances its Mediterranean-Asia loop M to include port call at Busan Grand Alliance is adjusting its service between the Mediterranean and Asia (EUM) in response to the increasing cargo volume. Busan will be included as a port of call in the service loop, and an additional eighth vessel will be deployed for the service. Ships deployed in EUM will be in an average capacity of approx. 6,500 TEU, replacing the


Rotkirch Named Chairman and CEO of Grand Bahama Shipyard

markdacunha-brochure2-3187web.jpg

Carl-Gustaf (Calle) Rotkirch, a 32-year maritime industry veteran, has been named Chairman and Chief Executive Officer of the Grand Bahama Shipyard, Ltd., effective August 1, 2008.  In this capacity, Rotkirch will oversee all operations of the shipyard, which is one of the largest cruise ship repair facilities in the world; Grand Bahama Shipyard services more than 100 cruise ships, cargo vessels, tankers, and naval vessels annually


International Ship Masters’ Association 2011 Convention Complete

New officers (both elected and appointed):  Front, L to R:  (Elected Officers) Grand Secretary-Treasurer George Skuggen, Grand 2nd Vice President Rebecca Hancock, Grand President Tom McMullen, Grand 1st Vice President Seann ODonoughue;  Back, L to R: (Appointed officers) Grand Marshal Joe Walters, Grand Chaplain Camilla Ross, Grand Warden Mark Stevenson, Grand Sentinel Mike Pratt. Photo courtesy the ISMA

The 121st annual convention of International Ship Masters’ Association (ISMA), held in Detroit, Mich., concluded on Saturday, February 12, 2011. Newly-elected officers were installed on Friday, February 11: Grand President: Thomas McMullen, of Livonia, MI Grand 1st Vice President: Seann O’Donoughue, of Owen Sound, ONT Grand 2nd Vice President: Rebecca Hancock, of Traverse City, MI Grand Secretary-Treasurer: George R. Skuggen, of Avon Lake, OH  


Hellenic Ship Finances Look Up

Photo Credit: Iolcos Hellenic Maritime Enterprises

The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013. Petrofin Research in its latest annual research says that drawn loans are up by 2


CSD, Cosco JV to Buy Vale's Bulk Carriers

Ma Zehua (Chairman of Cosco Group),  Xu Lirong (Chairman of China Shipping Group) Murilo Ferreira (President&CEO of Vale) and Gurinder Singh(Director of Shipping & Distribution of Vale) attended the Signing Ceremony and signed the agreement on behalf of each party. Photo by Cosco

 China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them.   CSD and Cosco’s bulk shipping division Cosco Bulk Shipping holds 49% and 51% equity


HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter. Germany's Manager Magazin reported earlier on Thursday that the city of Hamburg was


HSH Nordbank Looking to Split Off Bad Shipping Loans

Image: HSH Nordbank

 HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, reports Reuters.   The city of Hamburg was willing to inject billions of euros in


PSA Starts Expansion Work on 2m teu Panama Terminal

Image: PSA Panama International Terminal (PPIT)

 Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific.   It has started on the expansion after being granted approval by the National Assembly


Jeffersonville Port Sets Quarterly Shipping Record

The Port of Indiana-Jeffersonville recorded the highest quarterly shipments in its 30-year history during the first quarter of 2015. Cargo volume exceeded 800,000 tons, up 10 percent from the previous record set in the first quarter of 2014.  


Topaz Energy and Marine Secures $550m Facility

Topaz Energy and Marine, an offshore support vessel company, announced a new $550 million facility.   The facility is arranged over three tranches. The first is a conventional and Islamic senior secured, term loan of $350 million over seven years which will be used principally to repay


Antwerp Port Creating Additional Space

Courtesy Antwerp Port

  With growth of 5.9% the port of Antwerp has got off to a strong start in 2015. In terms of container handling (in TEU) Antwerp even achieved growth of 9.5% in the first three months of this year. The 2M alliance of MSC and Maersk which last year opted resolutely for Antwerp is of course


Aker Philadelphia to Pay Dividend

Aker Philadelphia Shipyard

  On 6 May 2015, the Board of Directors of Aker Philadelphia Shipyard ASA resolved to pay a dividend to the shareholders of AKPS as of expiry of 12 May 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment of previous


Dry Bulk Shipping to Stay Low

Image by China COSCO Bulk Shipping (Group) Co., Ltd

 Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg.   Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer.


DP World to price $500 mln Bond

DUBAI, May 11 (Reuters) - Dubai's DP World has released initial price guidance for a $500 million bond expected to be sold on Tuesday, a document from lead managers showed. The deal is earmarked to price in the area of 180 basis points over midswaps


Balearia Requests US-Cuba Ferry License

Photo courtesy of Balearia

Balearia has requested a license to operate between the U.S. and Cuba from the U.S. Treasury Department, after both countries' announcement of the reestablishment of diplomatic relations. The shipping company is awaiting an official response from the U.S


Autodesk Bulgaria Shipbuilding Seminar

SSI announced it will host the Autodesk Bulgaria Shipbuilding Seminar for shipbuilders, naval architects and marine engineers to learn about the challenges facing the shipbuilding industry in Bulgaria and find out how Autodesk's Extended Digital Prototyping solutions


Sainty Marine in Troubles Waters

 Image: Sainty Marine

 Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts.   Shenzhen-listed Sainty Marine has also announced that it has reached an agreement with Dutch ship investment firm, Universal Marine


Cruise Season Kicks Off in Portland, UK

Eurodam (Photo: Portland Port)

Portland Port celebrated the launch of its 2015 cruise program receiving more than 4,000 passengers over the early May Bank Holiday weekend.   Royal Caribbean Cruise Lines’ Serenade of the Seas made her inaugural call on the Saturday and Holland America Lines’ Eurodam returned






 
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