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Cummings (D-Md.) on FY10 Budget Requests

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 Purchased 5,400 of its Common Shares

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.

Minoan Flying Dolphins Acquires 10 More Ferries

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.

GulfMark Options to Build Second Aker Vessel

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

Zim to Buy Cargo Ships for $266.4m

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

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

Cruise Firm Switches to Online Purchasing

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 Buys Towboats, Barges from Coastal

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

Thome Ship Management Selects MarineLink eCommerce


(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

Diana to Acquire Two Post-Panamax Containerships

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

Diana Adds Capesize Dry Bulk Vessel

Diana Containerships Inc., through a separate wholly-owned subsidiary, it has taken delivery of the m/v Hamburg, a 2009-built Post-Panamax container vessel of approximately 6,500 TEU capacity that the Company entered into an agreement to purchase in July 2015.  

Historic Vessel Laser Scanned for Hull Refit

Image: API Services

New York’s Lake George Steamboat Company recently commissioned API Services to laser scan the hull the oldest boat in its fleet, the 107-year-old Mohican.   The original Mohican, in service from 1894 to 1907, was a 93-foot wooden hull vessel

Moose Boats is Keeping Busy

New patrol boat for Placer County Sheriff’s Office (Photo: Moose Boats)

U.S. boat builder Moose Boats announced the delivery of two new vessels, as well as a new build order   Moose Boats, a boat designer and manufacturer in the San Francisco Bay Area, announced two recent vessel deliveries: a M2-35 Catamaran Patrol Boat to the Placer County Sheriff’s

Frontline Reports Strongest 3Q

Frontline has one of the worlds largest fleets of VLCC and Suezmax tankers Credit Frontline

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.

Maritime Security in Focus in the Caribbean

Overlooking Bahia de San Juan, Station San Juan is located just outside the walls of the old city of San Juan, Puerto Rico. (USCG photo)

Maritime Security 2015 Caribbean currently underway in San Juan, Puerto Rico   Puerto Rico, centrally located at the crossroads of the Caribbean, is the location of Maritime Security 2015 Caribbean currently underway in the busy port city of San Juan.  

NAT Adds Two More Tankers

Nordic American Tankers Limited (NAT) has taken delivery of the second of two Suexmax tankers recently purchased secondhand.   The shipper announced in July that it had entered an agreement to acquire two 2010-built ships for delivery in September and October 2015

Ardmore Shipping Announces Secondary Public Offering by GA Holdings

Photo: Ardmore Shipping Corporation

 Ardmore Shipping Corporation announced that GA Holdings LLC intends to offer for sale in an underwritten public offering 4,000,000 shares of the Company's common stock.    The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 600

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

Keel Laid of US Navy’s Future LCS Billings

A welder authenticates the keel by welding the initials of the ships sponsor, Sharla D. Tester, onto the keel plate of the U.S. Navys fifteenth Littoral Combat Ship (LCS), the future USS Billings (LCS 15), in a ceremony held at Fincantieri Marinette Marine in Marinette, Wisconsin. The Keel Laying is the formal recognition of the start of the ship and module construction process. (U.S. Navy photo by Lockheed Martin)

A keel laying ceremony was held Monday for the U.S. Navy’s future USS Billings (LCS 15) at Marinette Marine Corporation shipyard in Wisconsin.   Sharla Tester, Billings' sponsor and wife of Sen. Jon Tester, authenticated the ship's keel

Brazil Port Jam Benefits U.S. Soybean Stakeholders

The congestion at Brazilian grain terminals is worsening and U.S. soybean suppliers may have reason to celebrate. U.S. soybean sales to date in the new marketing year have been rather sluggish, lagging the previous two years by 20 percent.

TransAtlantic Divests Container, Ship Management Operation

Photo TransAtlantic AB

  TransAtlantic AB has reached an agreement to divest the Container Operation to X-Press Feeders and, in a separate transaction, to divest Ship Management operations to AtoB@C. The container operations to be sold consist of TransFeeder North Line

Two More Secondhand Bulkers for Seanergy

Dry bulk shipper Seanergy Maritime Holdings Corp. has taken delivery of two secondhand Capesize dry bulk vessels, renamed M/V Gloriuship and M/V Squireship, to be employed in the spot market.   The 171,314 dwt Gloriuship was built in 2004 by Hyundai Heavy Industries, and the 170

Hapag-Lloyd Posts Third Straight Quarter of Profits

Photo: Hapag-Lloyd

German continuer shipping company Hapag-Lloyd AG recorded its third consecutive profitable quarter, marked by higher transport volumes and reduced shipping costs in the third quarter of 2015.   For the first nine months of 2015, the shipper posted a €6.8 billion revenue, up €1

HII Ship Repair Arm Honored for Green Efforts

Photo: Continental Maritime of San Diego

Continental Maritime of San Diego (CMSD), a ship repair subsidiary of Huntington Ingalls Industries (HII), has been awarded the Blue Sky Award by San Diego County’s Air Pollution Control District APCD for its initiatives targeting reduced air pollution.  

Gibdock Wins Exhaust Scrubber Project

Photo: Gibdock

Gibdock has secured an exhaust gas scrubber retrofit project covering five vessels operated by ship management major Norbulk Shipping and owned by global shipping group Vroon.   The contract represents a sizeable debut in specialized EGS work

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