Corporate Groups News

The Biden administration recently issued a sweeping Executive Order [1] aimed at protecting and enhancing competition, and the transportation sector—including air, ocean, and rail—is among the industries specifically identified and likely to see heightened antitrust scrutiny under the new directives. This executive action was soon followed by the long-awaited announcement of Biden’s pick to lead the U.S. Department of Justice’s Antitrust Division (Division), Jonathan Kanter, who…

Hamburg Süd christened the “Polar Mexico” container ship in the Mexican port of Veracruz on the weekend.The sponsor of the “Polar Mexico” is Claudia Dávila, wife of Carlos Ayala, Logistics and Distribution Director of Alpek Polyester, which is a subsidiary of the Alfa Group, one of the largest corporate groups in Mexico.The Mexican economy is strong in the fruit sector as well as in other industries with high import and export volumes, such as automobile manufacturing, chemicals and brewing.

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court receivership on Wednesday after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels. Banks led by state-run Korea Development Bank (KDB) withdrew backing for the world's seventh-largest container carrier on Tuesday, saying a funding plan by its parent group was inadequate to tackle debt that stood at 5.6 trillion won ($5 billion) at the end of 2015. Hanjin Shipping, South Korea's biggest shipping firm…

As you read this, there are two beautiful new Skipperliner luxury charter vessels "wintering" in New Orleans and will be available for tours during the annual PVA Maritrends meeting in early February. After that they will complete their delivery run down the Mississippi River, into the Gulf of Mexico through the Panama Canal and up the West Coast of the United States to southern California. Their trip began 1500 miles upriver at Skipperliner's factory in Lacrosse, Wisc. in December. Pacific Avalon Yacht Charters of Newport Beach, Calif. owns the two vessels and will put both of them into service this spring. The 128-ft. Ambassador will work out of the homeport of Newport Beach, while the 148-ft. Majestic will dock in San Diego, Calif.

Austal USA has signed a contract with Cloud Nine of New York to construct a 135 ft. dinner cruise monohull. This is the second sale by Austal USA to the New York market this year and will further showcase the company’s ability to deliver a high quality, customised product. Austal’s Managing Director, Bob McKinnon said the sale of the new monohull is a strong indication of the immediate success of Austal USA in delivering vessels to the US domestic market. “We are very pleased to see that orders for Austal USA are progressing well,” McKinnon said. Cloud Nine specialise in offering private, luxury dinner cruises for social and corporate groups and have developed a large base of repeat customers.

Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea, is quipped as a remotely operated vehicle vessel to perform subsea construction work globally. It has been awarded a three-year contract by Canyon-Offshore, Inc. Trico is scheduled to take delivery of a second 279-ft. PSV in September 2002. It also expects to take delivery of three new generation 155-ft.

The passenger vessel industry continues to be mired in a construction malaise with high-speed passenger only ferries and more conventional passenger auto ferries the only bright spot. The epicenter of the passenger vessel ferry business is the New York City metro area where dozens of new ferries have been added to replace the PATH and other subway lines destroyed in the 9/11 terrorist attacks. Suddenly "the way to work" for thousands of commuters was severed. Recent deliveries into the area include five 79-foot catamarans for NY Waterway. They are single deck, 149-foot passenger only ferries. The company also has purchased two 340-passsenger fast ferries from NY Fast Ferry. The ramp up in New York City ferry services has not been without difficulties, however.

Austal USA launched its fifth vessel from its yard in Mobile, Ala., a 135-ft., monohull, on March 31. This vessel, to be delivered in May to Cloud Nine of New York, is the second dinner cruise yacht built at Austal’s shipbuilding facility. The vessel’s owner, New York-based Cloud Nine, specializes in offering private, luxury dinner cruises for social and corporate groups and has developed a large base of repeat customers. It currently operates an 85-ft., dinner cruise monohull and this new, larger Austal USA vessel, will enable the company to cater to larger corporate groups and add their signature touch of freshly made dinners prepared onboard: all meals are cooked by their chef in the well equipped galley below decks. A dumb-waiter then brings meals up to a feature buffet.