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New Ownership

Mainstay Marine Looks Ahead Following Rebrand

Stewart Graves, Managing Director of Mainstay Marine Solutions outside the companys build hall on Pembroke Dock (Photo: Mainstay Marine Solutions)

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

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

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.

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

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

Genting HK to Buy Lloyd Werft Shipyard

Photo: Lloyd Werft

Genting Hong Kong has agreed to acquire the Lloyd Werft shipyard in Bremerhaven, Germany, in a deal that will see the company invest €17.5 million for a 50 percent ownership of the land and 70 percent of the new build business. The acquisition remains subject to final purchase conditions.   Genting, a corporation primarily involved in the cruise, hospitality, leisure and entertainment businesses, is the owner Star Cruises and a major shareholder in Norwegian Cruise Line

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

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

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

Davie Wins Icebreaker Life Extension Work

Photo: Davie

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

Maersk Orders BWTS for 7 Newbuilds

Image: DESMI Ocean Guard

DESMI Ocean Guard A/S to supply ballast water treatment systems to a series of new container vessels to be built at COSCO Zhoushan shipyard in China, for Danish shipper Maersk Line.   DESMI Ocean Guard announced that its RayClean ballast water treatment system (BWTS) has been selected for

Diana Shipping Nets $ 17.4 mln 3Q Loss

Courtesy Diana Shipping

  Diana Shipping Inc. today reported a net loss of $17.4 million and net loss attributed to common stockholders of $18.8 million for the third quarter of 2015, compared to net income of $7.7 million and net income attributed to common stockholders of $6

McAllister Towing – 150 Years of Family Business

McAllister Towing – 150 Years of Family Business (Photo: Greg Trauthwein)

“Early in 1864, a young man names James McAllister stood on board a sailing vessel where he served as a mate. The boat was about to set sail from the Red Bay of Cushendall … (James) did not know that this would never be home again.”  

Scripps Sells Oceanographic Research Vessel

New Horizon (Photo: Marcon International)

Purpose-built oceanographic research and survey vessel New Horizon has been sold from the Scripps Institute of Oceanography to private interests, announced ship broker Marcon International, Inc.   New Horizon will continue to work under her new ownership as a U.S

Sale of Diana Containership Falls Through

Courtesy Diana Containerships

  Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today reported that the previously announced sale of the 2001-built Panamax container vessel “Cap Domingo” will not proceed

Andersen will be CEO of Hempel

Henrik Andersen

  Hempel A/S announced that CEO Pierre-Yves Jullien will be succeeded by Henrik Andersen, Group COO of ISS A/S, by March 1st 2016.   Henrik Andersen has been with ISS A/S since 2000, since 2011 as Member of the Executive Board, first as Group CFO and from 2013 Group COO

SeaDek Now Employee-owned

SeaDek Marine Products, a producer of marine non-skid products, has become an employee-owned company.   The company’s principal owners Kurt Wilson, Jim Wilson, Jason Gardner and Chuck Yates have extended ownership to more than 70 full-time staff members through the implementation of

NYK Charters 2 LNG Carriers for Freeport LNG Project

  Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc. In addition, one of the joint-venture companies

Danaos buys 3 Boxships via new JV

Photo Danaos Corporation

  Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially

Radio Holland Revamps Cruise Ship Bridge

Photo courtesy of Radio Holland

Holland America Line’s cruise ship MS Noordam recently underwent a 10-day dry-dock period, during which it was fit with a customized bridge from Radio Holland. The work on Netherlands-flagged MS Noordam included refitting the navigation and bridge systems to improve working conditions in

Year Zero for ECDIS Compliance

(Image: Simrad)

The right product for the right application is a familiar claim from marine equipment supplier Simrad, but, when compliance with International Maritime Organization (IMO) requirements is at stake, it is a call demanding an immediate response.  

DP World's Southampton Licence Extended

DP World Southampton

  DP World Limited announces that it has agreed with Associated British Ports (ABP) to extend the license agreement for DP World Southampton for a further 25 years until 2047.   Simultaneously, DP World announces that it has acquired the remaining 49% stake in DP World Southampton

Diana Shipping Acquires Capesize Bulker

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that yesterday it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Churchill Bulker

Seaspan Reports Strong Revenue Growth

Photo: Seaspan Corporation

 Seaspan Corporation, a large owner of containerships that charters vessels to liner companies, improved its revenue as well as net result in the first nine months of 2015, a development mainly attributed to new ships delivered this year, notes management.  

Diana Shipping Continues Charter with RWE

m/v Maia (Photo: Diana Shipping)

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 has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany

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