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 President has requested just under $9.5 billion in fiscal year 2010 to fund the U.S. Coast Guard. This request would provide an increase of approximately $371 million – 4.1 percent – over the service’s enacted fiscal year 2009 budget. The President has requested $6.55 billion for Coast Guard operating expenses in fiscal year 2010, an increase of more than $361.2 million – 5.8 percent – over the fiscal year 2009 enacted level. The President has requested just under $1.4 billion to fund all planned Coast Guard capital acquisitions in fiscal year 2010, an approximately $100.6 million decrease from the fiscal year 2009 appropriated level. Of this requested amount, $1.05 billion is requested for the Deepwater program, an approximately $72 million increase from the enacted funding for fiscal year 2009.
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.
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
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.
(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
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
Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg. The 2008-built Rotterdam and 2009- built Hamburg are both of approximately 6,500 TEU capacity, and the purchase prices are $37.5 million and $38.5 million, respectively
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.
Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75
Advanced Polymer Coatings (APC) has signed a contract with Scot Tanker, based in Istanbul, Turkey, for up to eight chemical tanker retrofits using the patented MarineLine polymer cargo tank coating system. These eight chemical ships became available on the market and were purchased by
Financing the Municipal, Tax-Exempt Workboat Sector. Poring over any of the many marine publications that seemingly arrive daily in your mailbox or inbox, you can get an idea of the depth and breadth of the current state of U.S. commercial marine vessel shipbuilding
The Georgia Ports Authority achieved record container volumes in 2015, Executive Director Curtis Foltz reported to the GPA board Monday. Over the last calendar year, the Port of Savannah moved an all-time high 3.73 million twenty-foot equivalent container units, an increase of 391,356 TEUs
The media in Tehran said on Saturday that Japan plans to extend a contract to purchase crude oil from Iran. Shana news agency – affiliated to Iran’s Ministry of Petroleum – has reported that Japan’s contract will be extended until April 2017.
French container shipping group CMA CGM bought an additional 2.4 million shares in takeover target Neptune Orient Lines (NOL) from the open market on Thursday at $1.235 and $1.24 per share, says a report in the Business Times.
Two cargoes of Argentine wheat were scheduled to arrive at port in Wilmington, North Carolina, shipping data showed on Friday, indicating a rare situation where U.S. buyers actually find it cheaper to purchase imported grain than abundant domestic supplies.
Saam Smit Towage, a joint venture between SAAM S.A. and Royal Boskalis Westminster N.V. providing towage services in Mexico, Canada, Panama and Brazil, announced it has invested in fleet renewal in Canada and Panama. The company’s Canadian arm has taken delivery of newbuild tug SST
China Merchants Holdings (International) Company Limited, has announced that it has signed a share subscription agreement with Dalian Port (PDA) Co., under which Dalian Port will issue 1.1bn new shares to China Merchants for HK$4.3bn ($554m).
The U.S Navy has awarded General Dynamics Electric Boat an $89.8 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy’s Ohio Replacement submarine and the Royal Navy’s Successor-class ballistic-missile submarine
Port and Shipping Minister Arjuna Ranathunga said he plans to bring the Colombo Port to be among the top 20 global container ports. He said every possible step has been taken to facilitate all employees and staff of the institution to perform their fullest duty towards Sri Lanka Ports
The Islamic Republic of Iran Shipping Lines (IRISL) is seeking to open bureaus across Europe, says its Managing-Director Dr. Mohammad Saeidi. IRNA reports Saeidi as saying that once the arbitrary sanctions on Iran are lifted, Iranian-flagged ships can travel between Iranian and
Singapore Subsidiary and Shenzhen Brightoil Shipping yesterday entered into the Vessels Acquisition Agreement, pursuant to which Shenzhen Brightoil Shipping agrees to sell, and Singapore Subsidiary agrees to purchase ten Vessels for a total cash consideration of US$84,000
Art Anderson Associates informs it has been awarded a five year Blanket Purchase Agreement (BPA) for program and project management as well as other services supporting the Marine Engineering Branch for oceanographic and fisheries research ships and small vessels operated by the National Oceanic
Chinese shipping major Sinotrans has signed with Greek shipowner Dynagas and China LNG Shipping (CLNG) for the joint purchase of five Arctic-class LNG carriers from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).