Maersk Line Completes Recapitalization
Maersk Line, Ltd has completed a recapitalization of its U.S. flag container fleet. The effort involved an investment of nearly $400m for the purchase and reflagging of nine ships into the U.S. registry. In keeping with its commitment to provide world-class U.S. flag transportation services, MLL's recapitalization plan called for the company to remove nine older, smaller ships from its U.S. fleet and replace them with larger, faster and more modern U.S. flag tonnage. All nine of the reflagged ships are enrolled in the Maritime Security Program. "This additional capacity and capability, paired with the optimization and expansion of our U.S.
Maersk Lines Replacing Nine MSP Vessels
Maritime Administration officials said that Maersk Lines, Limited, a U.S.-flag vessel operator and Maritime Security Program (MSP) contractor for the U.S. government, are in the process of replacing nine of its militarily-useful, U.S.-flag containerships in the MSP with nine newer and more efficient ships. The Maritime Administration manages the MSP, which leverages commercially viable, militarily-useful, privately-owned vessels and inter-modal assets to meet national defense and other security requirements. Maersk’s 2008 request for the change was approved and coordinated with the Department of Defense’s U.S. Transportation Command after the Maritime Administration found that the proposed replacement vessels met or exceeded the eligibility requirements of the Maritime Security Program.
MarAd Approves Ship Sales and Transfers
The Maritime Administration (MarAd) has approved three vessels sale and transfer under section 9 of the Shipping Act, of 1916, as amended. MarAd has given approval to Industrial Resources, Inc., of Clear Lake, Washington to sale the fishing vessel MOMMA, to Front Street Management LLC of Vancouver, Washington and transfer of said Vessel to Panamanian registry and flag. The fishing vessel was built in 1945. MarAd has given approval to Maersk Lines, Limited, of Norfolk, Va., to sell the container RoRo’s MAERSK ALASKA and MAERSK ARIZONA, to Ignazio Messina and C.S.P.A. of Genoa, Italy and transfer of said Vessels to Italian registry and flag. Both container ships were built in 1976.
