South Wales maritime engineering company Mustang Marine has rebranded as Mainstay Marine Solutions. The Pembroke Dock based workboat, marine energy device and waterside infrastructure specialist has adopted a new name and corporate image following its first year under new ownership. The company, which was bought out of administration in May 2014 by a group of nine investors, said it has thrived under its new ownership and is on course to double its workforce compared to 12 months ago, increasing from 27 employees in June 2014 to 60 today. “The last 12 months have seen a lot of positive changes for the business, both in its working practices and culture,” said Stewart Graves, managing director of Mainstay Marine Solutions. “The rebranding exercise we’ve carried out has drawn upon those experiences, and the new name, Mainstay Marine Solutions, reflects what we’re about as a business. We’re more than just boat builders – we look to provide solutions to our customers’ workboat, marine energy and waterside infrastructure objectives.” “We already had a proud maritime heritage and a track record for quality craftsmanship. Our focus over the last 12 months has been on extending our reputation for reliability and providing innovative engineering and design solutions to our clients, Graves continued
Kvaerner Masa Yards won a $1.09 billion contract to build two ships for Royal Caribbean Cruises (RCL). The Eagle-type cruise ships are scheduled to be ready for delivery in 2002 and 2003. "The intentional agreement has been signed under the conditions that the yard can finance construction of the ships," Kvaerner said. "Even though Kvaerner has decided to pull out of shipbuilding and concentrate its operations in other fields -- and the process to find a new ownership structure for Kvaerner
Loadmaster International Inc. (LMI) announced a new ownership structure. LMI, with offices in both California and Malmö Sweden, was formerly owned jointly by Herbert Engineering Corp.(HEC) of Alameda, California and Xantic BV of The Hague Netherlands. The Malmö operations LMI AB (former Kockumation) will be acquired by Kockum Sonics, also of Malmö Sweden, and the Alameda operations of LMI will revert to sole ownership as a subsidiary of Herbert Engineering Corp.
Imperial Majesty Cruise Line purchased the S.S. OceanBreeze from Premier Cruise Lines, said President Arthur M. Pollack. The total value of the deal, including the purchase price and planned upgrades to the vessel, is in excess of $16 million. "The purchase of the OceanBreeze reaffirms our commitment to the short-term cruise concept and the South Florida market," said Pollack. The OceanBreeze began to sail under its new ownership on May 20
The majority of the shares of Deltamarin Ltd are to be sold to AVIC International Investments Limited, a publicly listed company on the Singapore Stock Exchange. After the closing of the acquisition, Deltamarin’s existing operations will continue as they are and the business will remain independent keeping the name and the brand of Deltamarin unchanged. The aim of the intended new ownership structure is to enable Deltamarin’s solid growth in the marine and offshore oil and
Marcon International, Inc. of Coupeville, Washington announced the sale of the 3,900BHP, U.S. flag twin screw tug Maria Brusco (ex-Ocean Service) from a U.S. owner to private overseas buyers for transfer to registry under foreign flag. The 127’ x 32’ x 14’ depth tug was originally built in 1967 by Burton Shipyard Inc. in Port Arthur, Texas as Hull 404 for International Bulk Transport of Wilmington
Aker Kvaerner and Aker RGI have entered into an agreement to establish a joint ownership for their wholly owned shipyards in Germany, respectively Kvaerner Warnow Werft and Aker MTW. Among other conditions, the agreement is dependent on approval from Aker Kvaerner's and Aker RGI's lenders. The aim is to implement the new ownership by the end of 2002. Aker Kvaerner will own 40 percent of the two yards. In February Aker Kvaerner and Aker RGI began working closely together in
Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for US$5.3 million. GLDD points out that it retains the right to collect all outstanding accounts receivable and work in process at the date of close
Meercat Workboats have delivered its first vessel under the umbrella of new owners Burgess Marine with the hand-over of a 14m. workboat to Scottish fish farming specialists Dawnfresh Farming. Meercat completed the steel build, named the Falls of Lora, at its facilities in Portchester, Hampshire, and the vessel is now in operation at Dawnfresh’s trout farming operation on Loch Etive, where it is being used for general fish farm maintenance with a particular focus on feeding operations
Davie awarded vessel life extension (VLE) contract for Canadian Coast Guard (CCG) icebreaker vessel Canadian shipbuilder Davie informs it has been awarded a $16 million contract to refit and upgrade the CCGS Henry Larsen, a CCG T1200-Class Icebreaker based in St. John’s, Newfoundland. Medium icebreaker CCGS Henry Larsen is capable of sustained icebreaking and escort operations in the Arctic and Atlantic Region for the winter and summer seasons
NYK has concluded a contract with United Green for partial ownership of a canola flower field along the Sanriku shoreline, an area that suffered extensive damage from the tsunami that accompanied the Great East Japan Earthquake in 2011.
Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months. It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754
The Company: Continental Underwriters, Ltd. is a national, multiline firm for all types of marine coverage. The firm offers both admitted and non-admitted products in all 50 states, packaged in flexible, competitively priced insurance options with broad terms and conditions for even the most
China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong.
Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.7 million and net loss attributed to common stockholders of $7
Russia has submitted its bid for vast territories in the Arctic to the United Nations, AP reported as the Foreign Ministry saying. The ministry said in a statement that Russia is claiming 1.2 million square kilometres (over 463
The Athens, Greece-based DryShips reported a $1.44bn loss in the second quarter but delivered an operational profit that was in-line with expectations. DryShips is an international provider of marine transportation services for drybulk and petroleum cargoes, and through its affiliate
The Suez Canal Container Terminal, located east of the northern entrance of the Suez Canal, at the convergence of the continents of Africa, Asia and Europe, is preparing for an even larger role in global trade as the expansion of the man-made waterway linking the Mediterranean and Red Seas
Carisbrooke Shipping has added eight 8,000 dwt general cargo vessels to its commercially-managed fleet. The vessels, TIP Oslo, TIP Copenhagen, TIP Helsinki, TIP Bremen, TIP Stockholm, TIP Leer, TIP Emden and Cremona, vessels were built between 2003 and 2005
The portfolio of Bremen-based water treatment manufacturer RWO has a new family member. CleanSewage Bio is an attack on the wastewater treatment market, one-side-access to the system gives significant space savings while great efforts were put into an easy and understandable handling concept
Pon Holdings and Parcom Capital announced they have agreed to buy Imtech Marine, the marine division of Dutch engineering services company Royal Imtech who has been declared bankrupt. No monetary figures have been shared. The final details of the takeover are yet to be worked out.
Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market. Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition
Diana Shipping Inc, a global provider of shipping transportation services through its ownership of dry bulk vessels, has chartered out one of its panamax bulkers - Artemis (76,942 dwt, built 2006) - to China Shipping Bulk Carrier.
The Navy will lay the keel for the second Gerald R. Ford-class aircraft carrier John F. Kennedy (CVN 79) Saturday, August 22, 2015 at 10 a.m. John F. Kennedy, designated CVN 79, is the second aircraft carrier to honor President John F
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels