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Fording News

21 Oct 2021

MAN Supplies Engines for German Customs Vessels

The FPB 23 customs vessel in the Tamsen Maritim shipyard (Photo: Tamsen Maritim)

MAN Engines said it is supplying engines for German customs vessels for the first time in the history of the Federal Republic of Germany.The vessels, which are being built at Tamsen Maritim in Rostock, are also the first suitable for fording to be used by the customs authorities. The shallow 1.2 meter draft with a 23 meter length greatly reduces the risk of running aground at low water levels."The new vessels provide significant added value in the calm waters of the North Sea and at low tide.

06 Jul 2004

The Empire State Navy

Of all the waterways in fable and lore, the Erie Canal is famed least for its maritime nature. Lake Superior may have swallowed the Edmund Fitzgerald, and the North Atlantic holed the Titanic, but they sing of the Erie Canal for a mule named Sal. The triumph of the canal was over land, not water. Fully 363 miles long, scaling mountains 500 ft. above sea-level with 83 locks, fording natural rivers on aqueducts or "water bridges," it was a pick and shovel and trowel job of a stupendous scale, so grandiose that some called it madness. Yet the original "Clinton's Ditch" helped write the destiny of North America, so greatly that in return it required expansion and major rebuilding twice, within its first ninety years.

15 Feb 2001

S&P Cautions On CP Ship After The Split

Standard & Poor's placed its triple-'B'-corporate credit rating on CP Ships Holdings Inc. and its triple-'B'-minus corporate credit and senior unsecured debt ratings on Legacy Hotels Real Estate Investment Trust on CreditWatch with negative implications. The CreditWatch placements follows Canadian Pacific Ltd.'s announcement that it intends to split into five separate companies (see related press release). Under the proposal, PanCanadian Petroleum, Canadian Pacific Railway, CP Ships, and Fording would become publicly traded companies, each separately owned, operated, and capitalized. Canadian Pacific would then be left with its sole remaining holding of a 100% interest in CP Hotels, constituting the fifth separate company.

14 Feb 2001

Canadian Pacific To Split Up

Canadian Pacific Ltd., one of Canada's biggest and oldest companies, said it would split into five publicly traded firms, a move aimed at shedding a conglomerate discount that had dogged its stock. Besides CP Rail, Canada's No. 2 railway, Canadian Pacific owns 86 percent of cash-rich PanCanadian Petroleum Ltd., the country's top oil and gas explorer and producer, as well as Fording Coal Ltd., CP Ships, a global shipping firm, and CP Hotels. Canadian Pacific, the C$18-billion ($12-billion) transport, energy and hotel concern best known for its national railway, which tied the vast country together in the 19th century, had long been viewed as ripe for breakup because the sum of its parts were seen to be worth more to investors than the whole.