Industrial Transportation News

Since early Spring 2020, American consumers have received a practical education in supply chain operations. One lesson is that it takes more than simply going online and clicking a “Buy Now” button for goods to show-up on our front porches. While the networks and systems that deliver commodities from around the globe might have been stretched as a result of COVID-19 related impacts, the men and women who move the freight have worked selflessly and tirelessly to meet consumer and manufacturing demand.Early on in the response to COVID-19…

"On 18 June 2018 at 09h30 EST in New York City, the bell rang on the Nasdaq trading floor signifying the first day of trade for Grindrod Shipping Holdings. The seven-storey Nasdaq Tower in Times Square lit up with the Grindrod Shipping logo and displayed Grindrod Shipping’s majestic vessels," said a press release from the company. The separation and listing of the Shipping division on an offshore stock exchange was contemplated for many years. The separate listing will enable shareholders to better understand and evaluate Grindrod Limited’s Freight and Financial Services divisions and better evaluate the separate Shipping business, which will now be listed alongside its peers in an improving commodity cycle.

Advances and developments in heavy lift transportation are allowing shipyards to rethink how, and where, they build and maintain vessels. Utilizing this technology can help a yard expand its order book and improve its bottom line. The use of Self-Propelled Modular Transporters (SPMTs) in shipyards enables a facility to expand its operations in numerous ways, including new building, maintenance and repair or storage. These projects can range from straightforward to complex transport engineering assignments.

The SENER engineering and technology group will celebrate its sixtieth anniversary in 2016. It has grown into a multidisciplinary international group which offers solutions in Aeronautics, Engineering and Construction, and Energy and Environment. SENER was founded on the basis of three important premises: to create high-quality projects, to anticipate the industry’s problems with innovative solutions, and to be independent and flexible in order to adapt to the market’s demands.

New York-listed ship and barge  Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter. The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share. The industrial transportation company posted revenue of $84.6 million in the period. In the final minutes of trading on Thursday, the company's shares hit $1.20. A year ago, they were trading at $2.92. Damian Scokin, Ultrapetrol's President and Chief Executive Officer, stated, "During a first quarter of 2015 that was marked by challenging market conditions for both of our core segments, we continue to believe that there are significant opportunities to unlock Ultrapetrol's full potential.

On June 20, a diverse coalition of 58 national and regional organizations representing a wide array of leading business, maritime and labor organizations signed on to a letter to Senate Commerce, Science and Transportation Committee Chairman John Rockefeller (D-W.Va.) and Ranking Member John Thune (R-SD) urging that the committee mark up and approve S. 2094, a bill that would establish a uniform, science-based national framework for the regulation of ballast water and other vessel discharges. S. 2094, introduced on March 6 by Sens.

On March 13, a diverse coalition of 59 national and regional organizations representing a wide array of business, maritime and labor interests signed on to a letter to Senate Commerce, Science and Transportation Committee leadership, Chairman John Rockefeller (D-WV) and Ranking Member John Thune (R-SD), thanking them for cosponsoring S. 2094, a bill that would establish a uniform national framework for the regulation of ballast water and other vessel discharges, and urging swift Committee consideration and approval. S. 2094, introduced on March 6 by Sens. Mark Begich (D-AK) and Marco Rubio (R-FL), has 23 bipartisan co-sponsors, nearly one-quarter of the Senate.

U.S. Federal Maritime Commissioner Doyle spoke to the Global Shippers Forum in Los Angeles and discussed Ro/Ro price fixing matters; the newly approved cooperation agreement between the ports of Seattle and Tacoma; the first PVO company to take advantage of the alternative bonding mechanisms; China VAT; Commission's 6 (g) Analysis, and the Suez/Panama Canal routes. This past week the Commission unanimously voted to effectively allow the Ports of Seattle and Tacoma to move forward on a cooperative agreement to exchange information and work together to find synergies.

The company informs that the notes were issued for an equal principal amount of 8 7/8% First Preferred Ship Mortgage Notes due 2021, that are registered under the Securities Act of 1933, as amended and expired on January 24, 2014 at 5 p.m. Ultrapetrol add that as of the Expiration Time, holders of $25.0 million aggregate principal amount of the Notes have participated in the Exchange Offer, representing 100% percent of the Notes eligible for exchange. under a registration rights agreement entered into by and among the Company and the initial purchasers of the outstanding notes.

Last week Commissioner William P. Doyle of the Federal Maritime Commission (FMC) briefed the full Commission with a report on his work seeking clarity and certainty on the People’s Republic of China’s (PRC’s) implementation of the Value Added Tax (VAT) as it relates to maritime commerce. Doyle informed the Commission that the Chinese government was expected to clarify its position on the VAT that has confused the shipper and carrier communities. On December 13, 2013, the PRC released Circular 106, which supersedes Circular 37 effective January 1, 2014.

Ultrapetrol (Bahamas) Limited, an industrial transportation company serving marine transportation needs in three markets (river business, offshore supply business and ocean business), announced it has taken delivery of two new Platform Supply Vessels (PSVs) of the 4,500 Class type powered by diesel electric engines, DP2, FiFi1, directly from the building yard in China which have cost about $32 million each. The company initially has funded the vessel purchases with its own cash. Ultrapetrol also exercised an option to purchase a sister vessel on identical terms and conditions. Following delivery of this additional vessel, which is expected in the fourth quarter, Ultrapetrol's PSV delivered fleet will increase to 14 vessels.

Ultrapetrol (Bahamas) Limited an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today the closing of its previously announced sale of $25 million in aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 (the "Add-On Notes"), which were offered as an add-on to its outstanding $200 million aggregate principal amount of 8.875% First Preferred Ship Mortgage Notes due 2021. Ultrapetrol say that they plan to use the net proceeds of the offering for general corporate purposes. As a result of the offering of the Add-On Notes…

Ultrapetrol (Bahamas) Limited, an industrial transportation company serving marine transportation needs in three markets (river business, offshore supply business and ocean business), has  announced that on July 10, 2013 the company will redeem all $180 million of its outstanding 9% First Preferred Ship Mortgage Notes due 2014. The Depository Trust Company (DTC) was advised of the redemption on June 10, 2013. For more information, note holders can contact the paying agent M&T Bank/Wilmington Trust at [email protected].

Following on from an earlier announcement of the US$200-million offering, Ultrapetrol now give provide greater detail. The company has priced the offering of $200 million in aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 (the "Notes"). Notes and related guarantees will be secured by the stock of certain of the Company's subsidiaries and by first preferred mortgages on vessels owned by certain of its subsidiaries. The Notes will be issued at par and are being sold in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act.

In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges. Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $200.0 million aggregate principal amount of its senior secured notes due 2021. The company plans to use the net proceeds of the offering to fully refinance its existing $180 million aggregate principal amount of its senior notes due 2014, as well as for general corporate purposes. Secondly, the company announce the sale of of a further seven tank barges to a third party in Colombia who have exercised their option for these additional barges. The barges are scheduled for delivery at the end of 2013.

Ultrapetrol (Bahamas) Limited, an industrial transportation company serving marine transportation needs in three markets (river business, offshore supply business and ocean business), announced  the appointment of Ms. Cecilia Yad as the Company's Chief Financial Officer, succeeding Leonard J. Hoskinson. Mr. Hoskinson will remain with the Company as Vice President, International Finance. Ms. Yad is a Certified Public Accountant with more than 25 years of finance experience working with diverse multinational companies. Most recently, she was the CFO for Iberia-Latin America of ISS, a Danish-based services company. Prior to ISS, she held planning, accounting and finance executive positions with Clorox, a U.S. consumer goods company where she worked for 10 years.

Transportation company Ultrapetrol (Bahamas) Ltd. regains compliance with the Nasdaq $1.00 per share minimum bid price requirement. Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on which it focuses. It serves the shipping markets for containers, grain and soya bean products, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels.

Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced the sale of 14 wet and dry barges to a third party in Colombia. the end of 2012 and extending through the second quarter of 2013. This sale will provide the Company with proceeds of $20.3m, of which 50% will be advanced by the buyer. With this sale, the yard is fully employed until the end of the first quarter of 2013. In addition, the company provided a brief update on its operations and EBITDA expectations for the remainder of the year.

The Maritime Cabotage Task Force (MCTF) and the National Industrial Transportation (NIT) League have reached agreement on the establishment of a joint working group which will address Jones Act service issues between U.S.-flag carriers and American shippers. The offer of creating such a group was made by the MCTF in a meeting hosted by the NIT League last week in Fort Lauderdale, Fla. At its core, the MCTF offer was an effort to engage the shipper community in a dialogue which goes beyond merely debating the merits of the Jones Act. The objective is to explore common areas of interest between shippers and carriers and to develop operational solutions to logistics problems.

The Administration's proposed tax to pay for harbor dredging is not a viable or equitable solution to funding navigation channel maintenance at the nation's ports, says the American Association of Port Authorities (AAPA). AAPA and others testified at a House Water Resources and Environment Subcommittee Hearing on the Administration's Harbor Services Fund (HSF) proposal, H. R. 1947. The plan creates a new tax on vessels to replace the Harbor Maintenance Tax, the export-tax portion of which was declared unconstitutional by the Supreme Court in 1998. The administration proposal, submitted to Congress, but not yet introduced as a bill, would…

In his address to the Intermodal Association of North America, the National Industrial Transportation League, and the Transportation Intermediaries Association during the Super Session, Economic Turmoil in a Sea of Financial Changes, at the 2009 Intermodal Expo and TransComp Exhibition, Chairman Richard A. Lidinsky, Jr. announced further details of the Commission's plans to undertake a comprehensive study of the impact on the U.S. trades as a result of the elimination of shipping conferences by the European Union (EU). Additionally, the Chairman recognized in his remarks that ports, carriers and other maritime interests are impacted by the on-going global economic downturn, and reiterated the Obama Administration's willingness to assist regulated parties in obtaining financial relief.

The Chamber of Marine Commerce (CMC) sent a letter to the Government of Canada, co-signed by fourteen leading industry associations, supporting government changes to Canada’s system of marine pilotage. • Hon. • Nicole Trépanier, Executive Director, St.

The following are remards by the Honorable Harold J. Creel, Jr., Federal Maritime Commisioner, as prepared for presentation at the International Transportation Management Conference in Houston. It is an honor and a pleasure to be addressing this distinguished conference. As Barry indicated in his opening remarks, this panel will be addressing the following hot topics in ocean transportation: globalization; deregulation; terrorism; new security requirements; antitrust immunity; and NVOCC confidential contracts. I would like to focus my remarks, from a government regulator's perspective, on the latter two topics. I will, of course, attempt to answer any questions you may have on anything that comes up.