VT Halter Marine won a contract to build three 330,000-barrel tank barges for Crowley Maritime Corporation's subsidiary, Vessel Management Services Inc. The vessels, which include the cost of owner-furnished equipment, are valued at approximately $254m. They are the largest in Crowley Maritime's history and the fastest in their class. VT Halter Marine is the US operations of ST Engineering's marine arm, Singapore Technologies Marine Ltd (ST Marine). VT Halter Marine currently has three contracts with Vessel Management Services Inc. to build the tugs and 185,000-barrel barges for 10 Articulated Tug Barge (ATB) units, at the total value of approximately $515m. This latest contract will bring the total contractual value with Vessel Management Services to $769m. The 330,000-barrel tank barges for today's contract are similar to the 185,000-barrel barges being built at VT Halter Marine, but they will have about 78 percent more cargo handling capacity. When completed, they will be operated in the US coastwise trade by Crowley Maritime's petroleum services segment. Recent facility improvements, including the extension of the launch system, have enabled the US shipyard to accommodate vessels up to Panamax in size, thereby meeting the rising demand for vessels with higher cargo capacity and deep water capability.
VT Halter Marine Inc. and the National Oceanic and Atmospheric Administration will hold a combined keel-laying ceremony on June 15 for two NOAA ships under construction at VT Halter’s Moss Point, Miss., shipyard. Bell M Shimada is the last of four fisheries survey vessels of the same design constructed for NOAA. Ferdinand R. Hassler is a small waterplane area twin hull coastal mapping vessel, the first of its class to be designed and constructed by VT Halter Marine.
Heavy transport shipping company Dockwise Shipping B.V. took delivery of the M/V Blue Marlin after her conversion into the world's largest semi-submersible heavy transport vessel able to carry heavy cargoes up to 73,000 tons. After a conversion of three months at the Hyundai Mipo Dockyard Blue Marlin has re-joined the Dockwise fleet with an increased deadweight capacity of 76,061 tons. The beam has been increased by 21 m, which results in an increased unobstructed deck area of 11,227 sq
In what amounts to what would be an amazing turn of fortune over a number of years, Bollinger Shipyards, Inc., Lockport, La., has signed a contract, pursuant to approval of the U.S. Bankruptcy Court, to acquire the assets and operations of Halter Marine from Friede Goldman Halter, Inc. Bollinger Shipyards has always been regarded as a well-run builder of quality vessels for the U.S. and foreign markets. However, less than a decade ago
VT Halter Marine, Inc. (VTHM), a company of Vision Technologies Systems, Inc. (VT Systems), announced a change of senior leadership. After more than 46 years in the shipbuilding business, including nearly two decades at VT Halter Marine, President and CEO Bill Skinner has announced his retirement. Skinner previously served as President, CEO and Director of ADDSCO Industries (1985-1989), the parent company of Alabama Maritime Corporation
VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems) has finalized an agreement with the U.S. Government to complete two contracts, including the construction of a Fisheries Research Vessel for the National Oceanographic Atmospheric Administration (NOAA) and the construction of a Logistic Support Vessel for the U.S. Army. The Agreement, known as a “novation” provides an arrangement for VT Halter Marine to complete the multi-million dollar construction
VT Halter Marine To Build Two Additional Offshore Support Vessels VT Halter Marine, Inc. (VT Halter Marine), a subsidiary of VT Systems, Inc. (VT Systems), today announced that Hornbeck Offshore Services, Inc. (NYSE: HOS) has exercised the options for two additional Offshore Supply Vessels (OSV), valued at a total of US$89m with deliveries expected in the fourth quarter of 2014 and first quarter of 2015. VT Halter Marine announced on 18 November last year that it had secured the contract
VT Halter Marine Inc, a subsidiary of VT Systems Inc., announced the arrival of a 12,000 MT Floating Dry Dock transported by a heavy lift vessel from the Philippines. The dock dimensions are LOA- 546 FT x B 128.5 FT x D 46 FT. The dry dock is part of an overall expansion plan to the south yard in Pascagoula where VT Halter Marine is adding a repair facility for semi-submersible drilling rigs and Panamax-size ships.
VT Systems subsidiary VT Halter Marine says it has constructed and delivered the ocean-going 112-ft Articulated Tug Barge (ATB) Tug, 'Denise A. Bouchard', for Bouchard Transportation Co., Inc (Bouchard). Measuring 112 feet by 35 feet by 17 feet, the 4,000hp tug is classed by ABS as A1 Towing Vessel, Dual Mode, and is equipped with an Intercon Coupler System. Construction of the vessel began in March 2013 and the tug was launched in February 2014
VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., will relocate its corporate office to its Pascagoula Operations in Jackson County, Miss., effective July 1, 2004. VT Halter Marine currently owns six shipyards in Mississippi, two of which are fully operational. Boyd E. King, Chief Executive Officer stated, “With this move, VT Halter Marine will be more integrated and this will position the company for growth and future facilities expansion
Korea Development Bank has offered a conditional credit line of 50 billion won ($45 million) to help ease supply-chain disruptions caused by the collapse of Hanjin Shipping Co, says a report in Reuters. An estimated $14 billion of cargo was trapped on Hanjin ships when the world's
Parent group transfers $36 mln to troubled shipper. It may cost over $150 mln to unload stranded cargo. The chairman of Hanjin Group transferred 40 billion won ($36 million) to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said
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Korean Air Lines, the biggest shareholder of Hanjin Shipping, has approved a plan to provide a loan of 60 billion won ($54.16 million) to the troubled shipper. The support will be offered on condition of securing Hanjin Shipping's Long Beach Terminal as collateral, Korean Air said.
A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said, making it likely the nation's largest shipper is headed for bankruptcy as it is dragged down by a deep global industry downturn.
The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to postpone debt repayments to foreign creditors made significant progress, says the cash-strapped firm.
South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME), faced with risks of being delisted from the stock market due to capital erosion, is seeking measures for survival, says a report in Korea Times. DSME has fallen into the state of complete capital impairment
Aulong Shipbuilding, a joint venture company formed by Austal Limited and Guandong Jianglong Shipbuilding of Zhuhai, China, has won the first ferry contract to build a 42 metre high speed aluminium ferry for Chinese mainland operator Blue Sea Jet.
Damen Shipyards Sharjah (DSS) in the United Arab Emirates has won a contract to build a shallow draught, self-propelled Jack-up Pontoon 3526 for the UAE-based contractor Aqua Diving Services Ltd. Once delivered, it will be used primarily to deliver offshore support services
Satellite communications and network service provider SpeedCast International Limited announced its acquisition of WINS Limited, a Europe-based provider of broadband satellite communications and IT solutions for the maritime sector.
The Seoul Central District Prosecutors’ Office summoned the chief financial officer (CFO) of Daewoo Shipbuilding & Marine Engineering Co. (DSME ) today (Friday) over his alleged involvement in the financially troubled company’s accounting fraud.
According to a latest report in Korea Times, South Korea's biggest container carrier Hanjin Shipping's efforts to settle the rescheduling deadlines for financing ships and reducing charter fees before the end of July has not yet be resolved.
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has received a 200 billion won (US$179.2 million) order to build two oil tankers for Singapore-based oil and gas transporter BW Group. According to Yonhap
Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else. According to Korea Herald, the country's No.1 shipping line has come under growing pressure from its creditors to secure more money
Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario.