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 Masa Yards is ongoing-- we welcome the deal," Kvaerner Chief Executive Kjell Almskog said. Almskog said the deal boosted the yard's current order book to 19.9 billion crowns from 10.8 billion crowns. "Such an order book will secure the yard in years ahead, independently of ownership structure," Almskog said.
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
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.
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
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
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
Pump upgrade reduces total cost of ownership through diagnostic capabillity and variable speed drive ALLMIND will protect a pump, maximises efficiency, lower energy usage and lower maintenance and spare parts costs, claims manufacturer Colfax Fluid Handling (a business of Colfax Corporation a leader in critical fluid-handling, transfer solutions for the commercial marine, defense, oil & gas, power and industry).
Canadian entrepreneur Elizabeth Boyd has purchased Nautican, a manufacturer of high-performance integrated propulsion units and hydralift skegs. Ms. Boyd is a naval architect and engineer and has worked with many marine industry service providers. Founded in 1972 by Josip Gruzling, Nautican pioneered the use of hydrofoils to increase efficiency, and conducted groundbreaking research in hydrodynamics, naval architecture and computing
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
Bergen Group has decided to divest the company’s activity at Hanøytangen. Sale agreements have been concluded with Semco Maritime for the operational activity and with Hellik Teigen AS for the real estate. The total transaction price is set to NOK 245 million.
The Meyer family, operating the shipbuilding company Meyer Werft in Germany, and the Finnish State acquired Turku shipyard from STX Europe in September 2014. Meyer Werft took up 70 percent of the shares, and the State of Finland purchased 30 percent of the share capital through the Finnish
Germany's family-owned Meyer Werft shipyard is buying the Finnish state out of Turku shipyard in southwestern Finland, the government said on Wednesday. Meyer Werft and the government last year bought the troubled shipyard from Korean trade and ship corporation STX
Nordic American Offshore Ltd. (NAO) informs that it has agreed with the Norwegian based Vard Aukra shipyard to extend the delivery of two platform supply vessel (PSV) newbuildings, originally scheduled to be delivered in mid-2015. Under the new agreement
VesselVanguard has come up with a new mobile app that gives boat owners an easier way to understand and manage all of the various maintenance requirements for their vessel and its systems and equipment. The app provides a simple, streamlined gateway for VesselVanguard subscribers to access
The Board of Directors of Robert Allan Ltd. have accepted the announcement from Ken Harford, P. Eng. of his intention to retire in June, 2016 after eight years of leadership at Robert Allan Ltd. “Having completed the ownership transition from Rob Allan and his family to a group of
A North Korea shipping company has been renaming and reflagging its vessels so it can evade an arms embargo, a UN report has said. The effort by Pyongyang-headquartered Ocean Maritime Management Company, Ltd. is detailed in the report by a panel of experts that monitors sanctions on
The European shipping industry contributed an estimated €147 billion to the EU’s GDp in 2013, according to a recent study The European Community Shipowners' Association (ECSA) presented the results of a recent update of the Oxford Economics study on the economic value of the EU
VesselVanguard announced today a new partnership with Hatteras Yachts to provide a five-year subscription for its award-winning maintenance management solution to every buyer of a new Hatteras convertible or motor yacht. Hatteras owners will be among the first to have access to two
The European Community Shipowners' Associations has released the results of a recent update of an Oxford Economics study on the economic value of the EU shipping industry which highlights the industry’s contribution to the European Union's economy based on new data.
A consortium led by Fiera Axium Infrastructure Inc. has acquired a 100% ownership interest in Montreal Gateway Terminals from Morgan Stanley Infrastructure Partners for an undisclosed amount, reports WSJ The consortium includes Desjardins Group
Australian marine pilotage company Australian Reef Pilots (ARP) has been bought by a consortium of its employees. ARP, which services shipping through the Great Barrier Reef, has been sold by the private Brisbane-based company Torres Industries to a group of ARP executives and reef pilots
Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri and Meyer Werft to each build next-generation cruise ships for Carnival Corporation through two separate, long-term partnerships
Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own China Crane Investment Holdings Limited (China Crane), an investment company, which has owned 18
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM Los Angeles, a 2006-built Panamax container vessel of approximately 5