Marco Polo

Marco Polo Seatrade Gets Bank Backing

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.

First Middle East Call for Juggernaut Containership

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

BV Classes World's Largest Containership

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

Cal Dive Completes Marco Polo and Gunnison Loan Facilities

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 Awarded TLP for Anadarko Field

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

Report Compares Inland Waterways Markets, Tech and Policies

"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. “Benchmarking conferences were held in Pittsburgh in 2005 and in Brussels, Belgium Europe in 2006

First Voyage for CMA CGM Alexander Von Humboldt

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

Regional Report: Pacific Coast

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

MARCO Signs Contract with S.F. Bar Pilots

MARCO Shipyard Seattle is scheduled to design and build a duo of 104 ft. pilot station boats for the San Francisco Bar Pilots. With construction to commence soon, the design portion of the project is near completion. The first vessel is set for delivery before year-end, with the second to follow in early 2001. Comprised of steel, the twin-screw vessels will replace the two existing station boats in the Bar Pilots' five-vessel fleet

MARCO Signs Contract With S.F. Bar Pilots

MARCO Shipyard Seattle is scheduled to design and build a duo of 104 ft., (31.7 m) pilot station boats for the San Francisco Bar Pilots. With construction to commence soon, the design portion of the project is near completion. The first vessel is set for delivery before year-end, with the second to follow in early 2001. Comprised of steel, the twin-screw vessels will replace the two existing station boats in the Bar Pilots' five-vessel fleet