Seaspan Orders Five Containerships
Shipowner Seaspan Corporation said it has entered into purchase orders to build five 12,200 TEU containerships. Upon completion and delivery, all five vessels will commence long-term charters with a global liner company and are subject to vessel purchase obligations at the conclusion of the charters.Seaspan, a wholly owned subsidiary of Atlas Corp, said the newbuild vessels are to be financed from additional borrowings as well as cash on hand. This transaction is expected to add approximately $910 million of contracted cash flows over the charter period.Bing Chen, Chairman, President and Chief Executive Officer of Seaspan, commented…
Wärtsilä Extends Service Agreement with WinGD
Wärtsilä said it has signed a 10-year service partnership agreement with the Swiss company Winterthur Gas & Diesel Ltd. (WinGD), a developer of two-stroke low-speed gas and diesel engines used for propulsion power in merchant shipping. The new partnership agreement appoints Wärtsilä as an authorized global service provider for all WinGD products and provides WinGD and its customers continued access to Wärtsilä’s worldwide service network and comprehensive services offering. It…
Corps Selects Weston/Bean for $75M Dredging Contract
Weston Solutions, Inc, and joint venture partner Bean Environmental LLC (Weston/Bean) announced an initial $11.8 million contract from the U.S. Army Corps of Engineers (Corps) - Jacksonville District for dredging and sediment disposal on the Miami River. "The Miami River project epitomizes our approach to the ports and waterways business," stated Patrick G. McCann, WESTON President and Chief Executive Officer. "By delivering integrated dredging, sediment disposal and beneficial use solutions, we provide our clients the services necessary to restore assets to full use, making operations more productive, more competitive, and environmentally sound.
