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
Terminal Pacífico Sur Valparaíso in Chile recently purchased three Ship-to-Shore container cranes (STS) from Irish based Liebherr Container Cranes Ltd. These cranes have an outreach of 62 m and a safe working load of 65 t under twin lift spreader. These are the largest container cranes that Liebherr has ever manufactured for the west coast of South America. The cranes allow the terminal to meet shipping companies’ newest requirements
The Crossover ball joint is a new dredge ball joint that provides optimal flow performance, its manufacturer VOSTA LMG said. Through computational fluid dynamics (CFD) the frictional losses and turbulence have been reduced. Conventional dredge ball joints act like a ball valve when tilted
Sound Oil, the Mediterranean focused upstream oil and gas company, announced the appointment with immediate effect of Marco Fumagalli as a Non Executive Director of the Company following the institutional investment announced on 25 April 2014.
CMA CGM Group is now offering genuine cruises aboard its biggest vessels, the new 16,020 TEUs containerships, such as the CMA CGM MARCO POLO or the CMA CGM ALEXANDER VON HUMBOLDT. These giants of the seas (365 meters long, which is equivalent to more than 4 soccer fields)
Last week, the Transportation Security Administration began nationwide implementation of a program that reforms the burdensome process by which mariners and other transportation workers receive required Transportation Worker Identification Credentials (TWIC)
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
Peru awarded a $182.4 million contract for the construction and operation of a maritime port to a consortium of Brazilian and Spanish companies, the government said on Wednesday. Consorcio Paracas beat out two other bidders on the project, including a local unit of APM Terminals
Six U.S. senators urged their colleagues on Friday to support legislation reaffirming U.S. support for freedom of navigation, saying they consider China's recent actions in the South China Sea troubling. China this week accused Vietnam of intentionally
Italy's Saras urged Europe to take steps to restore the competitiveness of the region's refining sector after it posted an 85 percent slump in its core earnings in the first three months due to weak refining margins. Europe's refining sector is facing growing pressure from increasing
Over the last weekend (May 9-11, 2014), 12 cruise ships visited the Port of Hamburg and were counted in total with 27 sail-by passages in front of the Landungsbrücken pontoons. Overall, 37,000 cruise passengers were handled during the three days of celebration
d’Amico International Shipping S.A. (DIS) an international marine transportation company operating in the product tanker market, inform of the launch of two additional MR “ECO” vessels built at Hyundai Vinashin Shipyard Co., Ltd. (Vietnam). MT High Sun
A consortium formed by units of local builder Grana y Montero and Germany's Oiltanking won a 20-year contract for managing five fuel terminals in Peru, Grana y Montero said on Wednesday. The consortium will invest about $225 million in the project
The Korean Maritime University (KMU) and the Korean Marine Electronics Industry Promotion Association (MEIPA) received a one day technical seminar about Shipdex and the process of importing Shipdex data into SpecTec’s Computerized Maintenance Management System (CMMS), AMOS
Ukrainian government troops and pro-Russian separatist forces on Sunday fierce fighting, which makes the Ukrainian authorities to make further unilateral ceasefire declared by pressure. Meanwhile, Russian President Vladimir Putin urged the Ukrainian authorities to negotiate with the
MacGregor, part of Cargotec, has secured a contract with the Marco Polo Shipyard Pte Ltd with its facilities in Batam, Indonesia, to supply deck equipment for two 76m, 9,000kW anchor handling tug supply (AHTS) vessels with bollard pulls of 150 metric tons, to be constructed for Marco Polo Marine