The board of Zim Integrated Shipping Services Ltd. has approved the purchase of two container ships for $266.4 million and has option on a third, according Globe Online. The ships will be delivered in early 2010. Last June, the company announced plans to buy eight new container ships for $1 billion from South Korea’s Hyundai Shipyards. This purchase will increase Zim’s fleet by 30%. Source: Globe Online
During the Subcommittee on Coast Guard & Maritime Transportation hearing on President Obama’s Fiscal Year 2010 Budget Requests for the United States Coast Guard, United States Maritime Administration and Federal Maritime Commission, Chairman Elijah E. Cummings made the following opening statement: “The Subcommittee convenes today to examine the fiscal year 2010 budget requests for the Coast Guard, Federal Maritime Commission, and the federal Maritime Administration.
The board of National Shipping Company of Saudi Arabia (Bahri) has approved the purchase of two second-hand very large crude carriers (VLCCs) for $155 million, it said in a bourse statement on Thursday. Bahri will take delivery of the carriers between Jan. 14, 2016 and Feb. 1, 2016, the statement said, adding the financial impact of the ships would appear in its first quarter of 2016 earnings. The ships were purchased from Alpha and Beta VLCC LLC, a subsidiary of Tanker Investment Ltd
Minoan Lines subsidiary Minoan Flying Dolphins added to a recent flurry of vessel acquisition with the purchase of 10 more ferries for an undisclosed amount, bringing its total fleet to 63 vessels. The ferries purchased are: Poseidon Express II, Pegasus, Milos Express, Papadiamantis, Poseidon Hellas, Aeas, Apostolos, Hellas, Aphaea and Aegina. Minoan Flying Dolphins' fleet includes 34 new technology ships, 25 of conventional technology, and four RoRo ships.
Stolt-Nielsen S.A. announces that Stolt-Nielsen Transportation Group Ltd. (SNTG), a 100% owned subsidiary of SNSA, purchased today 5,400 of SNSA Common Shares on the Oslo Børs at an average price of NOK 190.57 per share (approximately $29.69 at the current exchange rate). The shares were purchased in accordance with the repurchase program announced on August 25, 2005, authorizing Company to purchase up to $200 million worth of its Common Shares or related American Depositary Shares.
(Oslo, 16 March 2011) Thome Ship Management, one of the world's leading independent international ship managers, has chosen MarineLink eCommerce provided by EDB ErgoGroup as the sole eCommerce provider for its purchasing operations. The three year contract covers its entire fleet of about 150 vessels. E-business solutions are not new to Thome Ship Management, as the group has been using e-business solutions since 2005
Royal Caribbean Cruises has implemented electronic purchasing technology to cut the $1bn it spends annually on resources for its ships. The cruise operator completed a switch to vendor Ariba’s software technology last month, and is using a web portal to purchase goods ranging from ship parts to food and drink. The firm also hopes to reduce purchasing costs and administration through a managed service contract with Ariba, which will process past invoices and accounts payable data.
Kirby Corp. signed an asset purchase agreement with Coastal Towing, Inc. to purchase from Coastal seven black oil tank barges and 13 inland towboats. The transaction, estimated at $17.1 million in cash, is being financed through Kirby's operating cash flow and available credit under Kirby's bank revolving credit agreement. Kirby and Coastal have also entered into a Barge Management Agreement whereby Kirby will serve as manager of the combined black oil tank barge fleet
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
GulfMark Offshore, Inc. has exercised an option to build a second Aker PSV09 design vessel. This vessel, which will be an identical sister ship to the Aker PSV09 currently under construction in Norway, is a 4,850 deadweight ton, diesel electric powered platform supply vessel. The purchase price for this vessel is approximately $30 million, with delivery currently expected during the third quarter of 2007. GulfMark will be the majority investor in a joint venture for the construction of the
iNavX, the benchmark marine navigation mobile application, in partnership with Fugawi X-Traverse, today launched its chart and map in-app purchase program. Now enabled with one-touch purchase and download, iNavX gives boaters the most streamlined access to the broadest set of marine charts and
With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited. While Europe has been the main buyer region
South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media. According to the shipper, the plan includes details on securing funds from its parent Hanjin Group
India's largest shipping company Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business climate remains grim for the industry across globe mainly because of availability of low-priced assets in the market
Today South Carolina Ports Authority reported 2016 fiscal year-end operating earnings of $39 million, revenues of $211 million and operating expenses of $172 million. "The Port closed the FY2016 books with solid financials, reflecting our commitment to achieving the necessary
National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers. The funding will be provided to National Chemical Carriers by Arab Petroleum Investments Corporation and BNP Paribas in the form
Damen Shipyards Antalya has secured ISO 9001, ISO 14001 and OHSAS 18001 certification, an achievement that coincides with a period of rapid expansion that has seen the addition of three new production halls within the space of two years.
The delivery of two super post-Panamax cranes at South Carolina Ports Authority (SCPA) on Friday marked another step in the port’s push for big ship readiness, to be followed in the coming years by the completion of the Wando Welch wharf project and harbor deepening to 52 feet.
China COSCO Shipping, which owns the world's fourth largest container fleet in terms of capacity, is expected to wrap up the purchase of a majority stake in Greece's largest port, Piraeus Port (OLP), next week, sources close to the matter said on Friday.
The United States Navy and Willard Marine have executed a licensing agreement for a Willard Marine boat design to serve as the guideline for the Navy’s new 11-meter rigid hull inflatable boat (RIB) government design. For 27 years, Willard Marine has designed and built U.S
The UK-based trading arm of Beijing-backed Sinopec will give up the megatanker it booked to park crude in Asia at the onset of the drop in global prices two years ago, sources told Reuters. Unipec UK took over a lease on the TI Europe, one of just two Ultra Large Crude Carriers capable of
Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,” which, once completed, will be the largest passenger vessel ever built in Germany.
India has inked a deal with the US defence and aerospace giant Boeing to procure four more Poseidon-8I (P-8I) long-range surveillance and anti-submarine warfare aircraft ( submarine hunter planes) worth $1 billion. According to industry sources
The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and sell vessels from anywhere via a smartphone or tablet. VSnP can improve brokers’ trading margins through key features
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday. The company's net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342