Marco Polo Seatrade has received court approval to obtain fresh financing from Royal Bank of Scotland, one of its senior lenders. The New York Court supervising the reorganisation of Marco Polo approved today new financing to be provided by the Royal Bank of Scotland. This financing is being provided on a fully consensual basis and resolves the various objections that were filed to Marco Polo’s original financing motion. This Court approval and the Court’s previous approval of the use of cash collateral ensures that Marco Polo will be able to continue to fulfil all charter contracts and to pay its expenses in the ordinary course of business. It also ensures that Marco Polo will be able to take advantage of profitable new charters. Post-petition financing from one of its senior lenders is a significant step towards Marco Polo’s focus on a plan to emerge from Chapter 11 as a strong and healthy competitor in the global shipping market.
Khorfakkan Container Terminal (KCT) became the first terminal operator in the Middle East to handle the world’s largest container ship, 'CMA CGM Marco Polo'. With a length of four standard football pitches (396 metres), 54 metres beam and requiring a draft of 16m, Khorfakkan is one of the few ports in the world able to accommodate Marco Polo’s massive 16,020 TEU capacity, reports 'The Gulf Today'. The ship's arrival at KCT was marked with a presentation from Gulftainer to
Cal Dive International, Inc. announced that it has completed project financing to fund its share of the cost to construct production facilities at the Marco Polo and Gunnison Deepwater fields. Deepwater Gateway LLC, a joint venture owned by El Paso Energy Partners, L.P. and Cal Dive, has secured a $155 million commitment to fund 70 percent of the estimated total cost of the Marco Polo tension leg platform (TLP). As a 50% owner of Deepwater Gateway
MODEC International LLC has entered into a letter of intent with El Paso Energy Partners, L.P. for the engineering, procurement and construction of the hull, mooring and production riser system for the world’s deepest tension leg platform (TLP). The TLP is expected to be owned by EPN and Cal Dive International, Inc. and is planned to serve as a production hub at Green Canyon 608 in the Gulf of Mexico initially for Anadarko Petroleum Corporation’s Marco Polo field discovery
Bureau Veritas has classed what is currently the largest containership in the world. Built by DSME (Daewoo Shipbuilding and Marine Engineering) in South Korea for French operator CMA-CGM, CMA CGM Marco Polo is the first in a series of three 16,000 teu vessels which will each be named after great explorers. The CGM Marco Polo - 396 metres long and 54 metres wide with a draft of 16 metres - is equipped with the latest cutting-edge environmental technology
A cruise ship passenger has died and another was airlifted to hospital after the 22,000-tonne cruise ship 'Marco Polo' was hit by a freak wave in the English Channel during the recent storm. The cruise ship operators, Cruise & Maritime Voyages (CMV) confirm that after a freak wave hit their cruise ship m/s Marco Polo in the English Channel during heavy weather, the ship is now in home port, London Tilbury.
Seattle's MARCO shipyard has been completing a rush job for Great Lakes Towing affiliate TUGZ International and is expected to have three new tractor tugs ready for christening by February 13. At the same time, the yard has just started to cut steel for two slightly larger tractors being built for San Francisco-based BayDelta. The latter will measure 105 ft. and will be powered by twin Caterpillar diesels of 4,400 combined hp driving Ulstein Z-drive units fitted with high-performance Nautican
"Inland Waterways and the Global Supply Chain" an International Conference Report on "SmartRivers 2006" is currently available at the Port of Pittsburgh Commission website www.port.pittsburgh.pa.us. SmartRivers is a coalition to benchmark best practices for inland waterways, on both sides of the Atlantic, and to help those waterways better integrate themselves into the global supply chain. â€œBenchmarking conferences were held in Pittsburgh in 2005 and in Brussels, Belgium Europe in 2006
CMA CGM Marco Polo's sistership, enters CMA CGM’s Asia - Europe Trade. The CMA CGM Group announced that the CMA CGM Alexander Von Humboldt, second of the world's largest and state of the art containership’s series, begins its first voyage today, Friday, April 19th in Pusan, South Korea. Built by DSME (Daewoo Shipbuilding and Marine Engineering) in South Korea, this giant of the seas, owned by CMA CGM, displays exceptional dimensions: 396 meters long
Sandy Hurricane relief and maritime support charity, Virginia's House of Hope, celebrated its accomplishments and raised funds for the future at their recent polo match benefit. This was its first summer event and was held at Conyers Farm, Greenwich CT, on July 14th., with more than 200 friends and supporters of VHH in attendance. In addition to enjoying the graceful and exciting competition between two internationally ranked teams, and petting the horses
Pompe Garbarino S.p.A., an Italian manufacturer of centrifugal and positive displacement pumps for marine, naval and industrial fields prepare and release the technical manuals according to Shipdex Protocol . Shipdex is the customization for the shipping community of the international S1000D
Norway-based shipping company Fjord Line’s Stavangerfjord represents a new-generation of advanced and environmentally friendly Cruise Passenger Ferry with outstanding passenger facilities in order to operate both as a day and night ferry
FloScan’s new ABS-certified stainless steel flowmeters were tested on the F/V North American powered by a CAT 399 1125hp main engine. The North American is 110’ Marco-built crab boat once featured in the popular Deadliest Catch TV Series.
A $73.2 million investment strengthens DIS’ fleet newbuilding strategy d’Amico International Shipping (DIS), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers Limited (Ireland) entered
Following the reorganization of Eni’s Gas and Power activities, approved by the Company's Board of Directors, the Business Unit Optimization and Trading will be renamed Business Unit Midstream and a new Business Unit Downstream Gas and Power has been created.
Fugro Seastar AS announced that CMA CGM Marco Polo has been fitted with Marinestar maneuvering system to assist in berthing and navigation. The satellite aided navigation technology is based on composite GPS and GLONASS constellations and measures precise speeds at the bow and the stern together
Marlink has been chosen by the CMA CGM Group, the world’s third largest container shipping group, to upgrade the majority of its fleet to WaveCall, Marlink’s standardized Ku-band VSAT service. In combination with the XChange solutions platform from Astrium Services
Marco Group International, a service and equipment provider for the surface preparation industry, has launched its redesigned Marco.us website. The focus of the website’s redesign was to simplify navigation and enhance functionality.
Bechtel, the global engineering, construction and project management company, has created a design for ports that they say has potential to transform shipping in Africa. The Multi-User Offshore Hub is designed for two or more users and consists of an offshore
Greenpeace in a 'Tweet' report their ship, 'Arctic Sunrise', boarded in the Pechora Sea by the Russian Coast Guard, and the 25 crew arrested and locked in a room, following a protest against Gazprom's Arctic drilling operations. The Greenpeace website carried information that by means of a
Greenpeace International activist Frank Hewetson (U.K.) has been refused bail by the Regional Court of Murmansk in Russia, bringing the number of rejected bail appeals to 10. Activist Marco Weber (Switzerland) also appeared in court today, but his appeal hearing was postponed until October 21 due
The U.S. Coast Guard rescued three people Monday after their 68-foot fishing vessel started to sink 36 miles southwest of Sanibel Island. A member of Sea Tow Marco Island contacted Coast Guard Sector St. Petersburg watchstanders reporting they overheard a crewmember aboard the Cheyenne call out
Transas Marine has won the Italian tender of "Consorzio degli armatori del mediterraneo" for supply of navigation equipment for 64 vessels. "Consorzio degli armatori del mediterraneo" is the Italian Shipowners Research Consortium which consists of 6 shipowners (Augusta Due
Swedish business software applications company IFS say they have been selected by dredging vessel, mining & equipment firm IHC Merwede to support its key business processes. The contract licenses are worth approximately EUR 2 million. IFS Applications will be implemented as IHC
Private Maritime Security Company (PMSC) Aspida Maritime Security said it has opened a new office in Copenhagen, adding to its locatons in London, Athens and Seoul. “Our presence in Denmark will improve the quality of service offered to our current Danish customers and ultimately serve