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 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
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 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
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.
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
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
The U.S. Coast Guard issued a Notice stating that it received an application from the Prince William Sound Regional Citizens’ Advisory Committee (PWSRCAC) for recertification under the Oil Terminal and Oil Tanker Oversight and Monitoring Act of 1990. Comments on this application should be submitted by February 1. 70 Fed. Reg. 2181 (HK Law).
Private maritime security provider AdvanFort announced that it will commence a restructuring program to implement rigid quality control for its PCASPs, meant to ensure that the company complies fully with all regulations in the maritime security industry.
U.S. utilities have withdrawn a record amount of natural gas from underground storage to meet heating and power needs during an extremely cold winter, but gas producers say they are confident they can rebuild inventory. By Eileen O'Grady
Reuters - Bulgaria, heavily dependant on Russia for gas and oil, will estimate its own reserves and seek alternatives to cope with any worsening of the Ukrainian crisis, it said on Tuesday. Bulgaria imports over 70 percent of its energy resources
The Federal Maritime Commission (FMC) granted a passenger vessel operator a decrease in the amount of financial responsibility it is required to maintain to reimburse passengers when an operator fails to perform cruises as contracted.
By Balazs Koranyi, Reuters Norway has cut the time its biggest gas field will operate at a reduced capacity by several months after Statoil tested repairs on a faulty compressor, which kept output down during the peak winter months, gas system operator Gassco said.
The McLean Group announced that it acted as the exclusive mergers and acquisitions (M&A) advisor to 3 Phoenix, Inc. (3 Phoenix) in its sale to Ultra Electronics Holdings plc (Ultra) for an initial cash consideration of $70 million. Additional payments of up to $17 million will be due subject
State University of New York Maritime College (SUNY Maritime) announced several scholarship availabilities. The Fort Schuyler Maritime Alumni Association, Inc. (FSMAA) is offering $3,000 scholarships to First Class Cadets making both cruises and $1
I must admit that exploring the historical nature of our business is one of my favorite endeavors, and this month we are pleased to continue our series of articles in celebration of our 75th anniversary. Patricia Keefe again graces our pages with her overview of the creation and fate of what is
China’s Ministry of Finance and State Administration of Taxation released Circular 106 last December, expanding its value-added tax (VAT) pilot program to additional industries. The circular also made significant updates to the VAT treatment of services related to the international
William Wachel has been named a Senior Supervising Engineer, Ports and Marine, in the Houston office of Parsons Brinckerhoff, a global infrastructure strategic consulting, engineering, and program/construction management organization. In his new position
New explanation issued from China on definition of “agents” in Circular 106. Industry briefing scheduled for March 6, 2014 concerning the latest information on China’s Value Added Tax regime and its impact on the maritime industry.
President Barack Obama last week announced 11 nominations to key Administration posts. Among them was William P. Doyle, who currently serves as a Commissioner of the Federal Maritime Commission. William P. Doyle currently serves as a Commissioner on the Federal Maritime Commission (FMC)
The Marine Spill Response Corporation (MSRC) and Alaska Maritime Prevention and Response Network (Network) have formed a "Strategic Alliance" to support Non-Tank Vessels (NTVs) in meeting new Federal regulations and enhance oil spill response in Western Alaska and Prince William Sound
The 27th International “What if?” Workshop has brought data farming experts together at the National Defence University in Helsinki, Finland. Data farming is a way to conduct operational analysis through modeling and simulation, high performance computing to build scenarios
Flir Systems say that William A. Sundermeier, President of the Company's Government Systems Division, has resigned to pursue other personal and business opportunities. Thomas A. Surran, most recently President of the Company's Commercial Systems Division