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New Ownership

KMY Wins Two-Ship Order From RCL

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.


Premier's S.S. OceanBreeze Sold To Imperial

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


Kockum Sonics Acquires LMI

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.


AVIC International will Acquire Deltamarin

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 Sells 3,900BHP Tug Overseas

Photo: Marcon

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 Delivers First Workboat Under New Ownership

Falls of Lora is now in operation with Dawnfresh Farming

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


Kvaerner, RGI to Establish Joint Ownership for Shipyards

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


Colfax Fluid Handling Introduce ALLMIND Pump System

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).


Nautican Under New Ownership

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


GLDD Sells Historic Demolition Business

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


Sri Lanka Backs China Port City Deal After Threat to Cancel

Sri Lanka's cabinet said on Thursday it would allow a $1.5 billion "port city" deal with China to go ahead, apparently dropping its earlier threats to cancel the project, approved by the last government. Cabinet Spokesman Rajitha Senaratne said new President Maithripala Sirisena would


VesselVanguard Debuts App for iPad

Image: VesselVanguard

  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


Fitzpatrick Appointed President of Robert Allan

Mike Fitzpatrick

  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


North Korea Reflags Ships to Evade Sanctions

North Korean leader Kim Jong-Un (Pic: Democratic Peoples Republic of Korea)

 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


Since 1927, The Damen Way

Damen Stan Patrol vessel

Damen is a ubiquitous name in global ship and boatbuilding, delivering its unique brand with customary style and flair from ports of call around the world. For insights on the company’s long, colorful history and its bright future, we received insights from Arnout Damen, COO.  


Mustang Marine Launches Recruitment Drive

Stewart Graves, managing director, and Rita Beard, safety officer, observing work being carried out by Benjamin Cardew, Paul Hethrington and Richard Davey on the 20m BMT Nigel Gee design wind farm support vessel (Photo courtesy of Mustang Marine)

Mustang Marine, which is under a new ownership and management structure after being bought out of administration in May 2014 by a group of nine investors, has completed a broad range of orders in what was a successful second half of 2014, the company reports


Lakes Defend US Build Requirement of Jones Act

Jim Weakley (Photo courtesy of LCA)

An effort to remove the U.S.-build requirement from the Jones Act is being soundly rejected by Great Lakes Maritime Task Force, the largest labor/management coalition ever assembled to promote shipping on America’s Fourth Sea Coast. The Task Force said it sees no benefit to allowing


Noreco, North Energy Agree Asset Transfer on PL484

Logo

  Norwegian Energy Company ASA (Noreco) has agreed to transfer its 30 per cent ownership in PL484 in the Norwegian Sea to North Energy ASA (North). The transfer is subject to government approval. Further, the companies have agreed that Noreco, under certain conditions


Wärtsilä, CSSC to Commence 2-stroke Joint Venture

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The joint venture agreement between Wärtsilä and China State Shipbuilding Corporation (CSSC) for the takeover of Wärtsilä's two-stroke engine business, which was announced in July 2014, has now been finalized. The required government and merger control approvals having been


New Satellite System to Track Illegal "Pirate Fishing"

About 20 percent of the world's fishing catch is taken illegally by poachers, experts estimate, but a new satellite tracking system launched on Wednesday aims to crack down on the industrial-scale theft known as "pirate fishing."


Satellites to Track Illegal 'Pirate Fishing'

File photo

About 20 percent of the world's fishing catch is taken illegally by poachers, experts estimate, but a new satellite tracking system launched on Wednesday aims to crack down on the industrial-scale theft known as "pirate fishing."  


Sri Lanka Softens Stance on China Port City dealD

Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd, softening its pre-election threat to scrap the project.   New Prime Minister Ranil Wickremesinghe, before last month's presidential vote


Hiab Debuts Biggest Crane - HIAB X-HiPro 1058

HIAB X-HiPro 1058

Hiab, part of Cargotec, is set to launch the biggest crane to date in its high capacity range, the HIAB X-HiPro 1058. This signposts the first in a series of launches, as Hiab prepares to deliver major quality, performance and economy improvements across its heavy lift range.  


MOL, Mitsui Ink Charter Deal

Courtesy  Cameron LNG

  Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This is the third newbuilding vessel chartered by Mitsui & Co., following a contract signed last September 26 for two carriers


Kalmar New Reachstacker to Boost Performance

The New Gloria Reachstacker

  Kalmar, part of Cargotec, has announced the launch of its new Gloria reachstacker specifically designed for empty and semi-laden container handling. With the ability to handle all types of containers, flat racks and single loads of up to 10 tonnes






 
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