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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

EDB+ErgoGroup.png

(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


E-Procurement Streamlined via the Cloud

Joseph E. Royce, CEO of MPS, aims to enhance the purchasing cycle via its cloud-based Direct Connect  e-procurement trading platform.

Marine Procurement Solutions (MPS) has built an electronic platform that aims to enhance the purchasing cycle for the maritime industry. MPS provides software, consultancy services and other customized solutions through its Direct Connect e-procurement trading platform that is designed to unite buyers, vendors and other members of the supply chain via a cloud-based interface that allows users to electronically process requests for quotations, purchase orders


New Standard for Offshore O&G Project by DNV GL Led JIP is Cost Saving

DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering Company (DSME) and Samsung Heavy Industries (SHI) that will establish a new international

  Variations in owner, operator and regulatory requirements during engineering and construction phases at South Korean shipyards present a huge challenge for operators and drive up costs. DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI)


DryShips Announces Write-Off of Receivables

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, has announced  the agreement with one of its charterers to write-off about $16


Scorpio Tankers to Acquire Product Tanker

Courtesy Scorpio Tankers

  Scorpio Tankers Inc. announced today that it has entered into an agreement to purchase an MR product tanker. The Company reached an agreement with an unrelated third party to purchase an MR product tanker that was built in 2014 at SPP Shipbuilding Co., Ltd


Transas' iSailor App Gets Android Debut

Image: Transas

Transas’ chart plotter and AIS Viewer navigation app iSailor, available to iOS device users since 2010, is now also available in an Android version.   Described as an easy-to-use navigational system for amateur seafarers, Transas said iSailor is used by hundreds of thousands of


New Courses Offer Online Electrical Safety Training

AVO Training announces nine-module online training course series “Arc Flash Electrical Safety” with NFPA 2015; now available for purchase   AVO Training Institute released its new complete nine-module online course series entitled “Arc Flash Electrical Safety”


Røkke is CEO of Akastor ASA

Kristian Rokke

Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke


Brakes on Thai Plan to Buy Submarines

Pic: Chinese Military

 The proposal to buy three Chinese submarines has been put on hold and would not be put into consideration by the Cabinet yet, said Deputy Prime Minister General Prawit Wongsuwan.   Prawit said this month the navy had approved a 36 billion baht ($1


MMC Ups Stake in NCB

Image: MMC Corp Bhd

 MMC Corp Bhd has bought a further 9.08% stake in logistics and port operator NCB Holdings Bhd, boosting its shareholding to 30.13% as it seeks to remain a key player in the ports industry in Malaysia.   In a filing with Bursa Malaysia yesterday, MMC's wholly-owned subsidiary


Platts acquires Petromedia

Matt Cape, CEO, Petromedia

  Platts, a leading global energy, metals, petrochemicals and agriculture information provider, announced today that it has acquired Petromedia, a specialist provider of news and analysis for the shipping and oil industries. The purchase helps extend Platts coverage beyond traditional marine


Bugsier's First Order with Damen

ASD 2411 - Artist Impression

  BugsierReedereican look back on a history that spans over a century. The company, with the largest tug fleet under German flag,will celebrate their 150th anniversary in 2016, and will also mark the delivery of the newly purchased Damen ASD 2411


Höegh LNG - LNG Libra sold

LNG carrier LNG Libra

  Höegh LNG Holdings Ltd. has sold the LNG carrier LNG Libra (built 1979) to a Chinese energy company for around USD 20 million. The Company has received 15% of the purchase price and will receive the remaining 85% by the end of the first quarter 2016


BW Group Buys Dorian Stake

Photo: Scorpio Tankers Inc.

 Scorpio Tankers Inc has agreed to sell its 6 million common shares of Dorian LPG Ltd to BW Euroholdings Limited, a wholly owned subsidiary of BW Group Limited, for a purchase price of $15.34 per share.    The shares will be sold pursuant to an effective resale registration


BHP to Spend $240 mln on Iron Ore Tug-Boat

Port Hedland. Photo: BHP Billiton

 BHP Billiton plans to construct a new eight pen tug harbour at Hunt Point in Port Hedland, as well as purchase six additional tugs, for $US240 million ($A326 million).   The investment will also include an upgrade of workshop facilities


BHP Will Beef Up Hedland Port, Acquire Tugs

BHP Billiton said on Tuesday it will spend $240 million upgrading its marine iron ore facilities in Western Australia. The funds will be used to purchase six tug boats and build a new tug harbor in the Port Hedland Port, with construction due to be completed in the September 2016 quarter.


BHP Billiton Injects $240m into Port Hedland

  BHP Billiton has approved $240 million (BHP Billiton share) to purchase six additional tugs and construct a new eight pen Tug Harbour at Hunt Point in the Port Hedland Port. The investment will also include the upgrade of workshop facilities






 
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