Real Estate Development News

National Rivers Hall of Fame will honor marine towing industry veterans Peter Stephaich and Joseph H. Pyne during the Annual Waterways Symposium hosted by Waterways Council, Inc. in St. Louis, Mo., in November.Stephaich, the current Chairman and CEO of Blue Danube Incorporated and Campbell Transportation Company, Inc., and Pyne, Kirby Corporation’s former CEO, will receive the Hall's Achievement Award, given to individuals making significant contributions to America’s waterways and barge industry.Having served the river industry for over 30 years…

French container shipping group CMA CGM is pursuing a plan to rebuild Beirut's port within three years, despite political deadlock in Lebanon that has prevented decisions on the port since a blast last August, a company executive said.A chemical explosion at the port killed 200 people and destroyed entire neighborhoods, deepening Lebanon's worst political and economic crisis since the 1975-1990 civil war.CMA CGM's plan, first outlined to Lebanese authorities in September, envisages the reconstruction of damaged docks and warehouses…

A real estate development company is looking for a U.S. city to become the new home for one of America's most historic ocean liners.Having reached a deal with the ship’s nonprofit owner last year, RXR Realty has been developing a plan to restore the famed SS United States and this week issued a Request for Expressions of Interest (RFEI) seeking a permanent waterfront location where America’s Flagship, once restored, will be able to relive its former glory.At the time of its launch in 1952…

Friedman is Port of Cleveland's President & CEO. At its 2018 Spring Conference on March 20, the American Association of Port Authorities (AAPA)—the unified and recognized voice of seaports in the Americas—elected William D. Friedman, president and chief executive officer for Northeast Ohio’s Cleveland-Cuyahoga County Port Authority, to serve as the association’s chairman of the board for the 2018-19 activity year that begins in October. Mr. Friedman is slated to be installed as chairman for a one-year term on the final day of AAPA’s 2018 Annual Convention, set for Oct. 7-10, in Valparaiso, Chile. He will assume the AAPA chairmanship from Steve Cernak, chief executive and port director for Broward County, Fla.’s Port Everglades, who began his one-year term on Oct. 4, 2017.

Mapping and shaping the growth of marine hybrid means many things to different stakeholders. The journey leads us all to the same place. If you follow the advancements in automotive design, the term or tag “hybrid” has come to define the alternative energy movement on our roads and highways. HEV autos have moved past Ford and GM in Detroit and into the hands of contemporary entrepreneurs and inventors the likes of Tesla’s Evan Musk or Dr. Victor Wouk. BMW, Ferrari, Bentley and…

South Carolina Ports Authority (SCPA) posted 10 percent container growth in 2015, a year highlighted by strong volumes and significant progress on the harbor deepening project. SCPA handled 144,718 twenty-foot equivalent units (TEUs) in December, pushing total container volume to 1.97 million in 2015. As measured in pier containers, or total boxes handled, SCPA's two container terminals moved 1.12 million boxes in 2015, an increase of 9.54 percent over 1.02 million containers handled last year.

Randa Coniglio has been named president and CEO of the San Diego Unified Port District. After a nationwide search for a new president and CEO, the Port decided Monday to stay in-house and name Coniglio to the post. Coniglio, who would be the port's first female CEO in its 52-year history, will replace interim chief John Bolduc, the agency's police chief, who took over last year when Wayne Darbeau was fired over a scandal involving a summer job for his son with a port tenant. "Randa is a focused, diligent and highly creative leader who consistently delivers strong outcomes," said port Chairman Dan Malcolm. The 15-year veteran port official…

After an uneven couple of years punctuated by struggling economic factors worldwide, maturing markets and some highly publicized accidents and illnesses, the cruise industry is hoping to find a little “double happiness” from the rapidly growing Chinese market – enhanced profits and renewed market growth for both operators and builders. For its part, the Chinese government is betting on a triple payout:  it hopes to serve a growing middle class (estimated at a potential 300 million market) and its desire for cruising vacations…

MOU will explore both Port & Destination Development and Ship-Owning joint ventures with the goal of potentially launching China’s first world-class domestic cruise brand. Carnival Corporation & plc has  signed a memorandum of understanding (MOU) with China Merchants Group (CMG) to explore the possibility of two joint ventures designed to accelerate the development and growth of the overall cruise industry in China. Ship-Owning Joint Venture: Carnival Corporation and CMG will explore a joint venture that would own and operate its own cruise ships as part of the first-ever domestic Chinese cruise line specifically targeted to the Chinese market.

The “I Dig Long Beach” tree-planting project funded by a Port of Long Beach grant is doing more than greening neighborhoods and building community pride – it’s also providing a chance for local businesses to participate. When more than 100 people gathered on Saturday, September 20, at Los Cerritos Park in the Bixby Knolls area of Long Beach for the planting of 60 trees, they were joined by Port of Long Beach contractor Edgemoor Infrastructure and Real Estate, who deployed one of its 2,500-gallon water trucks to assist with watering the saplings. Each of the young trees needs 15 gallons of water upon planting to ensure a healthy start and successful growth.

With oceans considered by many as one of the last frontiers, the American Bar Association's new book “Zoning the Oceans: The Next Big Step in Coastal Zone Management’’ is intended to help experts and government planners use zoning as a vehicle for ocean development and management. It is claimed to be the first book to focus on new and emerging state ocean zoning programs in the context of recent developments in offshore coastal zone regulation at the state and federal levels, say the publishers.

With oceans considered by many as one of the last frontiers, a new American Bar Association book will help experts and government planners use zoning as a vehicle for ocean development and management. “Zoning the Oceans: The Next Big Step in Coastal Zone Management’’ is the first book to focus on new and emerging state ocean zoning programs in the context of recent developments in offshore coastal zone regulation at the state and federal levels. The timely and relevant book delves into a wide range of coastal zone management issues…

Members of the American Great Lakes Ports Association (AGLPA) elected new leadership at their annual summer meeting held this year in Oswego, New York. The new president is William Friedman, President & CEO of the Cleveland-Cuyahoga County Port Authority. Dean Haen, director of the Brown County Port & Solid Waste Department in Green Bay, will serve as vice president. The secretary-treasurer position will be held by Paul LaMarre, port director at the Port of Monroe (Michigan). The term of office is two years. Friedman became president and CEO of the Cleveland-Cuyahoga County Port Authority in June 2010. He has more than 25 years of experience in port management, real estate development, international supply chain and multimodal distribution.

The Colliers International report, "CapEx or Capsize," underscores the idea that cities need to spend the capital to upgrade their ports, or risk "capsizing" their economies. Report author, KC Conway, notes that America needs $3.6 trillion in funding for infrastructure by 2020 to remain competitive in light of the upcoming Panama Canal expansion. "This is 'make-it-or-break-it' time for North America's port cities," said KC Conway, chief economist for Colliers International in the U.S. "Changing trade patterns and evolving e-commerce trends will present great economic opportunities for the cities that that invest CapEx in their transportation infrastructure.

InterManager, the international trade association for in-house and third party ship managers, has today appointed Gerardo Borromeo as its new President with immediate effect. Mr Borromeo, who was elected unopposed [October 11] InterManager AGM in Copenhagen, succeeds Alastair Evitt, Managing Director of Meridian Marine Management, who has completed his two-year term of office. The AGM also voted in four new Vice Presidents to focus on specific areas of InterManager business. They are: Alex Albertini (Marfin Management) who takes up the role of Treasurer…

INDIANAPOLIS (March 21, 2011) – Gov. Mitch Daniels recently reappointed two key leaders for the Ports of Indiana commission, as Marvin Ferguson and Greg Gibson were each called to serve another term. “Our commission includes some of Indiana’s finest business minds,” said Ports of Indiana CEO Rich Cooper. “The governor did our ports another huge favor by reappointing these two men. Ferguson is the longest-serving member on the board, now in his 19th year with the Ports of Indiana. In the organization’s 50-year history, only three out of 37 total commissioners have served longer.

Thomas J. Kinton Jr., the chief executive officer and executive director of the Massachusetts Port Authority, a 1,200-person agency with more than $500 million in annual revenue derived from owning and operating Boston Logan International Airport, two other airports, the public terminals in the Port of Boston, and hundreds of acres of real estate, announced in a letter to employees that he was retiring from the Authority to pursue other interests. With Kinton’s departure, effective June 1, Massport will lose a leader with unrivaled understanding of Massport and how its facilities operate. The Winchester, Mass. resident came to Massport in 1976 filling a temporary job in the engineering department…

On July 14, 2009, Yan Yanovsky, Managing Director and Member of the Boards of Directors of United Industrial Corporation (OPK) and B.T. Ahn, Executive vice-president of Hyundai Heavy Industries (HHI) signed a cooperation agreement in the field of shipbuilding. The main purpose of this agreement is to establish a cooperation which will include the mutual developing of shipbuilding projects, equipments and the designing of vessels. According to this agreement Hyundai Heavy Industries, as a partner of OPK, will provide a support in the construction of new shipbuilding facilities, shipyard management and in the building of specific types of vessels, including gas-locomotives.

Trailer Bridge, Inc. announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to the Company’s Board of Directors. The amendment with GE Capital waives past non-compliance with certain covenants and establishes new financial covenants that the Company is confident it will remain in compliance with. Trailer Bridge has a $15 million revolving credit facility, with actual draws determined by a borrowing base formula. At March 31, 2002, the amount outstanding under this facility was $4.7 million. The Company also has approximately $10.3 million outstanding under a term loan facility with GE Capital. The Company also announced that Peter S. Shaerf has joined the board and that Malcom P. McLean, Jr., Greggory B. Mendenhall and F.

The Lasco Logger Pool, already one of the world’s largest logger fleets, just got bigger, with the announcement that two of SINCERE STEAMSHIP CORP.’s newly built logger ships, the Alpha Venture and the East Tender, have been placed in the Lasco Logger Pool. SINCERE, a management company in Taipei, TAIWAN, operates thirteen ships in its fleet, including seven newbuildings, committed two new “Kanda 28’s” to the Pool, which is commercially managed by Lasco. SINCERE will perform its own technical management of its vessels. In commenting on the announcement, Mr. Kenneth M. Novack went on to call attention to Lasco’s constant efforts to improve its capabilities to make forward fixtures and reduce ballast legs, aggressively positioning cargo opportunities.

Kosnac Floating Derrick Corp. of Staten Island, NY took delivery of the 2,700 hp June K, the company's first twin-screw tug and its first new build after three generations of Kosnac family management. "We took everything we learned from 75 years of using other peoples' boats in New York waters," said Capt. The 78 x 26 x 10.5-ft. tug, with twin CAT 3512B diesels and a 9-ft. draft, was built by A&B Shipyard, Amelia, La. It is the first of three in Kosnac's current building program. Intended principally for ship handling and assist work, barge towing and dredge assist, the June K's draft is shallow enough to navigate the many creeks and estuaries throughout the Port of New York region.

Kosnac Floating Derrick Corporation of Staten Island, NY has taken delivery of the 2700 horsepower June K, the company's first twin-screw tug and its first new build after three generations of Kosnac family management. "We took everything we learned from 75 years of using other peoples' boats in New York waters," said Capt. Fred Kosnac, "and put it into a design specifically adapted to the wide-ranging conditions of New York harbor and the rivers that flow into it." The 78 x 26 x 10.5-foot tug, with twin CAT 3512B diesels and a 9-foot draft, was built by A&B Shipyard, Amelia, La.

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced two transactions to reduce its future financial commitments and improve its financial strength. These transactions include: the disposal of three Capesize newbuildings, and the cancellation of the acquisition of nine Capesize vessels (including five newbuildings) previously agreed to by the company. These two transactions will reduce the company's capital expenditure commitments by over $1.5b in initial transaction value. In addition, during this period of lower freight rates and an impaired credit market, the company will suspend dividend payments on its common stock.