General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE:GD) , has been awarded a $940m contract from the U.S. Navy for the construction of two T-AKE dry cargo-ammunition ships and to purchase long-lead construction materials for two additional T-AKE ships. Under the contract, NASSCO receives full funding for the construction of USNS Washington Chambers (T-AKE 11) and USNS William McLean (T-AKE 12). Earlier this year, NASSCO received a total of $200m to purchase the long lead materials for these ships. Construction of the Washington Chambers and the William McLean is scheduled to begin in the first and fourth quarters of 2009, respectively. The new contract also provides $200m for procurement of T-AKE 13 and 14's engines and other components that have significant manufacturing lead times. A contract that fully funds both ships is expected by February 2010. Construction of the unnamed thirteenth and fourteenth ships is scheduled to begin in the second and fourth quarters of 2010, respectively. "This contract award permits General Dynamics NASSCO, our team of suppliers and subcontractors to maintain an efficient schedule to build these highly-capable Navy auxiliary ships at the best value to the U.S. government," said Frederick J. Harris, president of General Dynamics NASSCO.
Trailer Bridge, Inc. announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to the Company’s Board of Directors. The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the Company is confident it will remain in compliance with. Trailer Bridge has a $15 million revolving credit facility, with actual draws determined by a borrowing base formula
The debate surrounding the cost to value of advnanced tractor tugs is ongoing in the marine business, as most normal operations do not always require the swift manuevers and brute strength these vessels posses. Some owners say the tugboats as “overkill”, and bemoan the higher cost of maintenance in comparison to traditionally driven boats. When an incident such as the one that was recently logged in the Prince William Sound of Alaska happens, though
The History of Containerization Foundation, in cooperation with the Containerization & Intermodal Institute and the Smithsonian Institution, will host the official Gala Celebration marking the 50th anniversary of containerization on April 27 in Washington, DC. On April 26, 1956, the converted tanker IDEAL-X departed Newark, New Jersey en route Houston, Texas carrying 58 aluminum truck bodies in frames installed atop its deck
American Bridge/McLean Pier 11 Constructors, a Joint Venture, Williamsburg, Va., is being awarded a $35,000,000 (first increment) firm-fixed price contract for demolition and replacement of Pier 11 at Naval Station, Norfolk. This contract will be incrementally funded with the initial funding today; the total contract amount is not to exceed $91,552,110. Work will be performed in Norfolk, Va., and is expected to be completed by April 2008. Contract
The Port Authority of Allegheny County’s Board of Directors today voted to hire Ellen McLean as CEO of the transit agency. McLean’s contract is effective February 1 and extends for three years, with options to extend the agreement for up to two additional years. McLean currently is the Interim CEO and previously served as the Authority’s Chief Finance Officer. “Ellen is the right person at the right time for Port Authority
Bay-Houston Towing Co. announced that it has purchased the tractor tug C-TRACTOR 1 from Alpha Marine Services. The tug, which will be renamed the WILLIAM M, will be based in Corpus Christi, TX. The WILLIAM M is a true tractor design, with the Ulstein drive units located forward. This allows the twin EMD 16-645 engines to generate 110,000 pounds of bollard pull both ahead and astern. Her design speed is 12 kts.
1799 - William Balch becomes Navy's first commissioned Chaplain. (Source: Navy News Service)
The Coast Guard announced Wednesday the launch of its third Sentinel-class, Fast Response Cutter, the William Flores, at Bollinger Shipyards, Lockport, La. The launch of the William Flores into the waters of Bayou Lafourche marks a production milestone as the Fast Response Cutter readies for sea trials, delivery, crew training and eventual commissioning.“The Coast Guard’s new Fast Response Cutters are national assets
Bel-Ray Company Inc. said it has appointed the Marine Markets West, LLC as sales representative in the Western United States and British Columbia in Canada, and was selected for the William F. Miller agency for representation in the Southeastern region of the United States Marine Markets West will represent Bel-Ray in territories, such as Alaska, Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming and British Columbia, while William F
Federal Maritime Commissioners Richard A. Lidinsky, Jr. and William P. Doyle met with transportation officials from China on January 14, 2015 in Washington, D.C. Members of the delegation included Professor Yu Shicheng, Chairman of the Shanghai Maritime University Council and Director of the
The Coast Guard Cutter William Trump was commissioned during a ceremony at Coast Guard Sector Key West Saturday Jan. 24, 2015. The Trump is the 11th fast response cutter in the Coast Guard fleet. Rear Adm. Jake Korn served as the presiding official at the Cutter William Trump
Britain said on Monday it would ban fracking in national parks, reversing a policy announced last year, in a concession to the opposition Labour Party which had called for tighter controls to be written into law. "We have agreed an outright ban on fracking in national parks
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three decades as rates for all the four vessel types continued to flounder. The overall index
Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger Chief Operating Officer, Ben Bordelon: “We are extremely happy to announce the delivery of the latest FRC built by
OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday. Henrik Pedersen said the takeover by Alba Tanker ApS, which has the trustees of the bankrupt company on its board
Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th year since the founding of the company, 55 years of continuous general cargo liner service from FALLine and 50 years since the
The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) said on Sunday the price of oil had fallen further than market fundamentals would have dictated. Speaking at an event in Dubai, Abdullah al-Badri added that the November meeting which ruled out a cut
Vistronix has acquired the Agency Consulting Group (ACG). The McLean Group's Aerospace, Defense & Government Services (ADG) practice served as the exclusive mergers and acquisitions (M&A) advisor to ACG. Founded in 2004 and based in Columbia, MD
Study shows Port of Virginia’s economic impact is statewide and significant; 374,000 jobs, $60 billion in spending The Port of Virginia continues to be a significant economic force in the Commonwealth’s economy, according to an economic impact study conducted by The College of
Commissioner William P. Doyle’s in a statement today said, "I am voting to take no further action on the Hanjin/UASC/CMA CGM/CSL Vessel Sharing and Slot Charter Agreement. This agreement is scheduled to become effective on January 2, 2015."
Capt. Panagiotis N. Tsakos named Connecticut Maritime Association 2015 Commodore; award to be presented March 25, 2015 at the conclusion of the CMA's Shipping 2015 Annual Conference and Exposition Capt. Panagiotis N. Tsakos, Founder of the Tsakos Group
A Turkish research vessel will continue searching for oil and gas off Cyprus, Turkish Cypriot authorities said on Tuesday, extending a simmering standoff between rival sides on the ethnically-split island over offshore gas reserves.
Alaska Marine Lines has filed with the Surface Transportation Board to decrease the fuel surcharge from 31% to 29% on shipments to, from and within Central Alaska and Prince William Sound locations. The line has also filed to decrease the fuel surcharge from 14% to 7% on shipments to
The U.S. Navy and Japanese authorities are working to refloat a Military Sealift Command vessel after it ran aground Thursday off the coast of Okinawa. The Sgt. Matej Kocak, a Military Sealift Command ship led by a civilian crew, ran aground off the coast of Uruma at 11:30 a.m