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Business Enterprises News

08 Aug 2023

Hornblower Secures New NYC Ferry Operating Contract

© jjfarq / Adobe Stock

New York City has awarded Hornblower Group a new contract to continue as operator of the NYC Ferry service after the deal was put up for rebid.The 38-vessel NYC Ferry system is the nation's largest passenger-only ferry fleet, serving about 7 million riders annually with six routes that collectively span 70 nautical miles and touch all five city boroughs.Hornblower, which has served as NYC Ferry's operator since the service was launched in 2017, was awarded the new contract from…

22 Jun 2022

Port Houston Awards $450 Million in Contracts for Channel Expansion

(Photo: Port Houston)

The Port Commission of the Port of Houston Authority met in a special session and awarded two of the largest contracts in the organization’s history. The Commission approved the staff’s recommendation to award Weeks Marine and Curtin Maritime Corporation contracts totaling $430 million to complete the remaining Galveston Bay segments of the Houston Ship Channel expansion project.“It’s an exciting day for Port Houston and the entire region and the millions of people who rely on the Houston Ship Channel for their livelihood and to bring them essential goods,” Chairman Ric Campo said.

07 Apr 2022

US Offshore Wind: Figuring Out the Business

© Collin Gravois / Adobe Stock

If awards were given for dominating the sustainable energy spotlight, offshore wind (OSW) would surely be in line for top honors.Consider:Big money: BOEM’s February sale of New York Bight offshore wind development rights drew a record $4.37 billion in developers’ bids. Not only is that real money, but just as critically, “This week’s offshore wind sale makes one thing clear: The enthusiasm for the clean energy economy is undeniable and it’s here to stay,” exclaimed Interior Secretary Deb Haaland.Off Broadway: In January…

22 Mar 2022

Reach Subsea Set to Complete Acquisition of iSurvey

©Reach Subsea

Norway-based subsea services company Reach Subsea is set to close the acquisition of the offshore survey company iSurvey, first announced in mid-February.As previously reported, Reach Subsea said on February 17 it had agreed to buy the offshore survey services firm iSurvey in a transaction valued NOK 135 million. Separately, it was announced that Wilhelmsen had acquired a 21% stake in Reach Subsea.The company at the time said that the transaction would be settled through the issuance of 33.8 million shares in Reach…

04 Mar 2022

South Brooklyn Marine Terminal to Become an Offshore Wind Hub

Artist rendering of wind turbine staging operations (Image: Equinor)

The storied South Brooklyn Marine Terminal (SBMT) complex in Brooklyn, N.Y. will be transformed into a major regional hub for offshore wind under a new agreement signed Thursday.Energy companies Equinor and bp said they reached a deal with terminal operator Sustainable South Brooklyn Marine Terminal (SSBMT) and New York City Economic Development Corporation (NYCEDC) to transform the terminal into an offshore wind port for staging and assembling offshore wind technology components for the Empire Wind and Beacon Wind projects and for the growing U.S.

23 Jul 2020

New York Launches Up To 2,500MW Offshore Wind Solicitation

Illustration only - Credit: Peterjohn Chisholm/AdobeStock

New York Governor Andrew M. Cuomo on Tuesday announced offshore wind solicitation aimed at developing up to 2,500 Megawatts of renewable energy and complementary multi-port infrastructure investment.The solicitation includes a multi-port strategy and requirement for offshore wind generators to partner with any of the 11 prequalified New York ports to stage, construct, manufacture key components, or coordinate operations and maintenance activities."New York's second offshore wind solicitation seeks up to 2…

18 Aug 2019

Spectrum is Now TGS

Norwegian seismic player TGS-NOPEC Geophysical Company (TGS) has completed its acquisition of Spectrum, creating a global multi-client geophysical data provider.TGS first announced its intent to acquire Spectrum on 2 May 2019, said a press release from TGS.Completion of the acquisition and the merger plan has today been registered with the Norwegian Register of Business Enterprises. As a consequence and following the issuance of 16,076,047 consideration shares to the former shareholders of Spectrum, the new share capital of TGS is NOK 29,680,959.25 divided on 118,723,837 shares each with a nominal value of NOK 0.25.Commenting on the acquisition, Kristian Johansen, CEO of TGS, said, “We are pleased to have formally closed the transaction to acquire Spectrum.

11 Dec 2018

Belships Completes Merger with Lighthouse Group

Norway-based  bulk ship operator and management company Belships has finalized its merger with Lighthouse Group after receiving an approval of the merger plan by the extraordinary general meeting (AGM)."All the conditions for the completion of the merger, including the expiry of the creditor notice period, have been fulfilled and the Merger has been registered as completed by the Norwegian Register of Business Enterprises today on 10 December 2018," said a press statement.Belships ASA has upon completion of the merger issued 127,765,993 consideration shares to the shareholders of the assigning companies, and following the issuance there are 175,117,993 shares outstanding in Belships ASA, each with a nominal value of NOK 2.

16 May 2018

Statoil ASA Changes Name to Equinor ASA

CEO Eldar Sætre (Photo: Equinor)

Equinor ASA (OSE: EQNR, NYSE: STO), the new name of Statoil ASA, was approved by the annual general meeting yesterday, May 15, 2018, and the new name has now been registered in the Norwegian register of business enterprises (Foretaksregisteret). The company's shares will from May 16, 2018 (inclusive) be quoted on Oslo Børs with the new name and the new ticker EQNR. Implementation date for the new ticker EQNR for the company's American Depository Receipts (ADRs) on New York Stock Exchange is expected to be May 17, 2018 at the earliest. ISIN number is unchanged.

14 May 2018

Statoil Name Change Expected in May

Photo: Jan Arne Wold / Woldcam

Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA, at the company's annual general meeting on May 15.The company said in March it intends to change its name to reflect its move to become a broad energy company.The company expects to implement the name change from (and including) May 16, 2018. This entails that May 15, 2018 is expected to be the last day of trading on Oslo Børs under the ticker “STL”. From May 16, 2018 (inclusive)…

28 Dec 2017

Maritime's Digital Transformation & Simulation-based Training

The Kognifai digital platform is a set of tools built on modern Cloud technology providing access to KONGSBERG and third-party simulation solutions. (Image: Kongsberg)

Nearly 200 delegates from across the world gathered in Den Haag, The Netherlands in September 2017 to hear about the latest developments in maritime training based on state-of-the-art simulation technology. The three-day Kongsberg UC2017 International Maritime Simulation User Conference brought attendees up to date on developments in digitalization, maritime training, navigation technology, maritime operations simulation and the use of virtual reality in training. Tom Mulligan reports.

14 Nov 2017

Havila Shipping Hikes Capital

Havila Shipping has made a stock exchange announcement about expected debt conversion to shares according to subscription rights issued as a part of the restructuring of the company. The Norway-based offshore company announced about sale of vessels. The vessels were delivered to new owner on 9th and 10th November. The company received on 13 November 2017 exercise notices for 60,909,975 subscription rights related to remaining debt after sale of MV “Posh Vibrant” and MV “Posh Virtue”. At the same time the company received exercise notice from Havila Holding AS for subscription of 63,296,375 shares by conversion of part of convertible loan (Anti Dilution Protection Loan).

02 Feb 2015

Support to Cyprus Shipping Industry

Cyprus President  Nicos Anastasiades reiterated his Government’s strong support towards the shipping industry and determination to introduce those mechanisms necessary to further enhance it. “I understand from Minister Demetriades that the study is nearing completion and I am, therefore, eager to learn about its findings and see a well-structured `Shipping Strategy` being designed, in order to take Cyprus Shipping into the future” he added. Nicos said he was grateful to the shipping industry, which had managed to help support the economy through the crisis. The sector had managed to escape the brunt “through fully utilizing the comparative advantages Cyprus offers to the shipping industry”.

26 Sep 2014

Aker Solutions Demerger Registered

Photo: Aker Solutions / Rolf Estensen

The consummation of the demerger of Aker Solutions ASA (the existing Aker Solutions) was registered with the Norwegian Registry of Business Enterprises after the close of trading on the Oslo Stock Exchange on September 26, 2014. The separation of Aker Solutions into two independent companies was announced on April 30 and approved by shareholders on August 12, 2014. The completion of the demerger involves changes to the share capital, the registration of new boards of directors, changes in company names and trading tickers and adoption of new articles of association, as outlined below.

03 Sep 2014

Panama Canal Infrastructure to be Valued by VRC

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams, power plants and other structures of the canal for insurance purposes. This is VRC’s second valuation engagement with the authority. In 2004, VRC was engaged to provide a comprehensive valuation in connection with financing the Canal’s expansion. “We are very pleased to once again work with the Panama Canal Authority,” said Richard Nordberg, Managing Director. In its 100th year, the Panama Canal is still considered one of the largest and most difficult engineering projects ever undertaken.

11 Jul 2014

Demerger Proposed at Aker Solutions

Photo: Aker Solutions

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation. Aker Solutions Holding ASA - a subsidiary of Aker Solutions ASA established for the purposes of the demerger…

22 Oct 2013

Port of L.A. SBE Program Reports Strong Participation

Photo: Port of Los Angeles

The Port of Los Angeles Small Business Enterprise (SBE) Program awarded $97.6 million in contracts to small businesses during the 2012/2013 fiscal year of the $405.9 million that was awarded in construction and professional service contracts by the Port during the period. “Small businesses represent an important and valuable resource in our community,” said Los Angeles City Councilman Joe Buscaino, whose 15th District includes the Port. The Port's SBE Program was created in 2007…

01 Oct 2013

MES Asia Launched in Singapore

Mitsui Engineering & Shipbuilding Co., Ltd., Tokyo JAPAN, with president Mr. Takao TANAKA (MES) established a subsidiary company in Singapore Mitsui Engineering & Shipbuilding Asia Pte. Ltd. (MES Asia) , fully owned by MES to enhance and expand their business dynamically on October 1, 2013. Rapidly growing ASEAN countries still continuously necessitate for AS (After-sale Service) business for machineries in marine and land use, LSS (lifecycle solution service) business and EPC (engineering, procurement and construction) business for chemical plants, especially for existing MES local customers.

19 Dec 2012

Cleveland-Cuyahoga County Port Approves 2013 Budgets

2013 budgets approval reflects strong financial performance & commitment to investments tied to its Strategic Action Plan. In 2013, the Port intends to continue improving its business lines by attracting more projects to its Foreign-Trade Zone and development finance programs, and strategically enhancing the financial performance of the maritime operation. As a result, operating revenues are expected to increase 18 percent next year, and the Port will be positioned to target more resources to strategic initiatives without significantly increasing overall operating expenditures. “Both our results this year and the budgets for next year demonstrate our management team’s fiscal discipline,” said Port Chair Bob Smith.

27 Aug 2012

Barloworld Logistics Ramping Up Middle East Ops

Frank Courtney, Barloworld Logistics Chief Executive for EMEA region.

Middle East contract logistics market to sustain 6.9 percent average growth to reach over USD 3.7 billion in 2015; Barloworld Logistics intensifies growth plans in Middle East, anchored on integrated smart supply chain solutions. Barloworld Logistics, a provider of logistics and supply chain management solutions, has announced that it is intensifying its growth plans in the Middle East as the region’s contract logistics services market expects to sustain a 6.9 per cent compound annual growth rate (CAGR) from 2011 to 2015, according to a study by Transport Intelligence.

19 Dec 2011

SUNY Maritime Seeks Bidders for Water Barge

SUNY Maritime College is requesting sealed bids from bidders to purchase a Water Barge named the SUNY No. 1 (a/k/a/ EX-Water Barge No. 42) in its current “as-is, where-is” condition at its current mooring. The minimum bid price for the  sale of this Water Barge is $25,000. The Water Barge is located at Olivet Pier - SUNY Maritime College - 6 Pennyfield Avenue - Bronx, NY 10465. Bidders who would like to receive the Notice of Sale should email their information (name, e-mail, address, phone, fax, etc.) to [email protected] . It is the State University of New York’s policy to take affirmative action to ensure that New York State…

12 Jun 2012

MItsubishi Pair at UN's Rio+20 Conference

Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Corporation (MC) will hold a joint exhibition introducing their diverse business operations and products at the Japan Pavilion, a side event of Rio+20, the United Nations Conference on Sustainable Development getting under way in Rio de Janeiro, Brazil, on June 20. More than 20 business enterprises will exhibit at the pavilion. MHI and MC's joint concept will be "realization of a low-carbon society through the creation of smart communities." Both companies will introduce a wide range of their business operations and products. In business relating to energy and the environment, using panel displays and video presentations MHI will introduce its gas turbine combined cycle (GTCC) systems…

17 Aug 2012

INSIGHTS: from Crowley's Todd Busch

Todd Busch: SVP and General Manager, Technical Services at Crowley Maritime Corporation. Todd Busch joined Crowley as an ordinary seaman in 1986, earning his masters’ license working aboard company tugboats before coming ashore in 1994 as a tug dispatcher. Since then, he has held a variety of positions with increasing responsibility within the firm. Today, the 24-year Crowley veteran is a member of the company’s senior leadership team, reporting directly to Crowley CEO Tom Crowley. Based at Crowley’s headquarters in Jacksonville, FL, he is responsible for several of the company’s business enterprises including the project management organization PMOrg (known as Crowley solutions), as well as subsidiaries Titan Salvage, Jensen Maritime Consultants, and Intrepid Ship Management.