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25 Mar 2024

Maritime Partners Hires Two In Executive Leadership Roles

(Photo: Maritime Partners)

Maritime Partners,a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced the addition of Stephen J. Bordes and Greg Chase to its executive leadership team.Bordes joins Maritime Partners as its chief financial officer, and Chase as as the firm’s chief legal officer.Bordes brings to the company more than 20 years of experience in the fields of finance and fund management. Prior to joining Maritime Partners, he served as the CFO for New York-based American Industrial Partners…

15 Jun 2023

HamiltonJet Debuts New Range of Waterjets

(Image: HamiltonJet)

HamiltonJet has unveiled a new range of high-efficiency waterjets, starting with the LTX36 model. Optimized for medium- and low-speed operation, New Zealand-based manufacturer said it has produced the first waterjet to rival the energy efficiency and bollard pull of the best propeller-based systems between zero and 30 knots.Waterjets are among the most efficient propulsion options for going fast due to the absence of hull-appendages and their highly optimized pump geometry, but HamiltonJet CEO Ben Reed noted not everyone wants to go fast.“Our customers’ needs are changing…

26 May 2023

Asian Spot LNG Prices Slide for Fifth Straight Week

© Anatoly Kolodey / Adobe Stock

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

19 May 2023

Asian Spot LNG Prices Slip to Two-year Low

© Nicola / Adobe Stock

Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021, industry sources estimated."Prices continue to linger sub $10 as general demand remains lacking…

27 Feb 2023

USNS Cody, 14th EPF, Christened

Image courtesy Austal USA

Austal USA christened its 14th Expeditionary Fast Transport (EPF), USNS Cody, during a ceremony at its manufacturing facility. Cody is the first EPF Flight II as well as the first Navy vessel to honor the city of Cody, Wyo. The ceremony for the Navy’s first Flight II EPF was well attended by Navy leaders and elected officials. Vice Admiral Francis Morley, principal military deputy to the assistant secretary of the Navy for research, development, and acquisition; Rear Admiral Bruce Gillingham, surgeon general of the U.S.

19 Dec 2022

Shipbuilding: Can I Have A Refund?

© Dmitry / Adobe Stock

In Havila Kystruten AS v Abarca Compania de Seguros AS,¹ in which Watson Farley & Williams LLP represented the successful Norwegian shipowner, an English court has provided helpful and very detailed guidance on a number of issues relating to the parties’ rights to terminate shipbuilding contracts as well as the nature and scope of refund guarantees.BackgroundRefund guarantees are the lifeblood of shipbuilding, providing invaluable security to owners/buyers who must usually cash fund a significant proportion of the price of newbuildings during the construction phase (usually at least 40%)…

10 Aug 2022

Maritime Partners Agrees to Acquire MG Transport

© dvande / Adobe Stock

Maritime Partners, LLC, through its managed funds, has agreed to acquire M/G Transport Holdings LLC, from Auxo Investment Partners LLC and its affiliates. Terms of the transaction were not disclosed, and completion of the acquisition is expected in the third quarter of 2022 subject to customary closing conditions, including receipt of regulatory approvals.Founded in 1968, M/G is a provider of marine transportation services along the West Canal and Lower Mississippi River. Through its fleet of approximately 300 dry cargo barges…

27 Jul 2022

From Surface to Subsea to Space: U.S. Navy Shipbuilding Outlook 2022

The Ford-class aircraft carrier USS Gerald R. Ford (CVN 78) and the Italian aircraft carrier ITS Cavour (CVH 550) transit the Atlantic Ocean March 20, 2021, marking the first time a Ford-class and Italian carrier have operated together underway. (U.S. Navy photo by Mass Communication Specialist 3rd Class Riley McDowell)

As a rudderless U.S. Navy debates maritime strategy, fleet futures and platform performance, America’s naval shipbuilding industry can look forward to another year of relative stasis.Barring a major geopolitical incident or unexpected maritime provocation, government shipbuilding isn’t going to change course. With Admiral Michael Gilday approaching the final “lame duck” year of his four-year term as Chief of Naval Operations and the 2024 election season looming, the prospect for major changes in the Navy’s demand signal seems limited.Aside from the U.S.

06 Jun 2022

Esteban Guerra Named BND Commission Chairman

Esteban Guerra (Photo: Brownsville Navigation District)

Brownsville Navigation District (BND) Commissioner Esteban Guerra was unanimously appointed to serve as chairman of the BND Board of Commissioners during the board’s regular meeting held Wednesday, May 18, 2022.Guerra serves as chairman alongside BND Vice Chairman Ralph Cowen and BND Secretary of the Board John Wood, also unanimously appointed to serve as part of the executive board. Commissioners John Reed and Sergio Tito Lopez round out the board as assistant secretaries.Wood, Commissioner Place 2, and Guerra, Commissioner Place 4, were re-elected to the board in the BND election on May 7.

06 Jun 2022

Port Houston Begins $1 Billion Ship Channel Expansion Project

On display at the event were some of the many vessels keeping the channel safe and efficient, including Great Lakes Dredge and Dock Company’s eco-friendly dredge Carolina, which soon joins the channel work. (Photo: Port Houston)

A $1 billion project to expand the Houston Ship Channel kicked off with an official ceremony last week, leading the way for greater safely, efficiency and economic growth in one of America’s busiest waterways.Known locally as Project 11 because it is the eleventh major construction project of the waterway in its more than 100-year history, the Houston Ship Channel expansion will widen the channel by 170 feet along its Galveston Bay reach, from 530 feet to 700 feet. It will also deepen some upstream segments to 46.5 feet…

10 Mar 2022

All at Sea: Russian-linked Oil Tanker Seeks a Port

A Russian-operated oil tanker that Britain turned away over a week ago has yet to find a port to discharge its cargo, and many other vessels are likely to be in the same position as buyers shun trade deals following Moscow's invasion of Ukraine.On Tuesday, U.S. President Joe Biden imposed an immediate ban on Russian oil and other energy imports and Britain announced soon after that it would phase out the import of Russian oil and oil products by the end of 2022.The European Union has yet to provide clarity on the prospect of a similar ban by the bloc. The European Commission, the EU executive, has only said it would continue to work on further sanctions.Britain on March 1 banned from its ports all ships that are Russian-owned…

10 Mar 2022

Russia's Shipping Trade Slides After Ukraine Invasion

© Valentina / Adobe Stock

Russia's shipping trade has plummeted since Moscow's Feb. 24 invasion of Ukraine and Western sanctions push many foreign companies to suspend sailings, adding further pressure on the country's economy, according to freight data.The world's biggest foreign container lines—including the top three MSC, Maersk, CMA CGM and others such as Hapag Lloyd—have temporarily suspended cargo shipments to and from Russia, while multiple companies including home furnishings firm IKEA have shut stores.Food companies Nestle…

02 Dec 2021

Maritime Partners Acquires J. Russell Flowers

(Photo: Maritime Partners, LLC)

Maritime Partners, LLC, through its managed funds, has acquired from J. Russell Flowers, Inc. and its affiliates, a diversified portfolio of over 1,000 marine vessels operating on bareboat charter. JRF’s fleet includes a variety of towboats, tank barges, hopper barges, and deck barges.With this acquisition, Maritime Partners’ portfolio has grown to approximately 1,600 vessels with an estimated fair market value of $1.2 billion, making the firm the largest lessor of marine equipment in the United States.J. Russell Flowers, Inc.

03 Dec 2021

Sea Machines, HamiltonJet Launch JETsense

Credit: Sea Machines

Sea Machines Robotics and HamiltonJet have launched a new intelligent voyage control product, named JETsense, that uses autonomous navigation, multi-sensor fusion, and computer vision "to move waterjet vessels to the forefront of 21st-century navigation and utility."JETsense utilizes Artificial Intelligence (AI) and advanced autonomy to perceive the domain and maintain precise control of steering and speed during a voyage and re-route to avoid traffic and obstacles while enabling a new level of streaming data to improve on-water operations…

15 Jul 2021

Interview: Ben Reed, Managing Director, HamiltonJet

Ben Reed (Photo: HamiltonJet)

Ben Reed is a mechanical engineer from the U.K. now leading New Zealand-based waterjet manufacturer HamiltonJet as managing director.Raised in Shropshire, Reed graduated from Loughborough University of Technology in 1995 and later became a Chartered Engineer and Fellow of the Institute of Mechanical Engineering. He’s worked for a U.K. gas utility company developing natural-gas-powered engines; Ford Motor Company as a Systems Analyst, and 17 years for Caterpillar UK in diesel engine and transmission development for off-highway machinery and military products…

12 Jul 2021

China Says It 'Drove Away' US Warship

(Photo: Nathan Burke / U.S. Navy)

China's military said it "drove away" a U.S. warship that illegally entered Chinese waters near the Paracel Islands on Monday, the anniversary of an international court ruling that held Beijing had no claim over the South China Sea.The USS Benfold entered the waters without China's approval, seriously violating its sovereignty and undermining the stability of the South China Sea, the southern theatre command of the People's Liberation Army said."We urge the United States to immediately stop such provocative actions…

27 May 2021

CCRI Designated as Maritime Training Center of Excellence

(Photo: CCRI)

Last week, the U.S. Department of Transportation’s Maritime Administration announced the designation of 27 Centers of Excellence for Domestic Maritime Workforce Training and Education (CoE), recognizing community colleges and training institutions that prepare students for careers in the U.S. maritime industry.One of the 27 schools and institutions recognized is the Community College of Rhode Island (CCRI).The designation allows CCRI to work with MARAD to enter into cooperative agreements to help advance recruitment of students and faculty…

22 Feb 2021

HamiltonJet Launches Electro-Hybrid Drive (EHX) Demo Boat

(Photo: HamiltonJet)

Waterjet propulsion specialist HamiltonJet said its new Electro-Hybrid Drive (EHX) demonstrator boat is now in operation, having successfully passed its Maritime New Zealand Certificate of Survey.ARIA, a 15-meter aluminum hydrofoil-assisted catamaran, is fitted with HamiltonJet’s new Electro-Hybrid Drive (EHX) system unveiled last year. According to the manufacturer, the system offers all the advantages of electric drive with the full capabilities of diesel, namely lower CO2 emissions combined with the speed…

18 Nov 2020

HamiltonJet Equips New Whale Watching Vessel

(Photo: HamiltonJet)

Waterjet propulsion manufacturer HamiltonJet said it has once again partnered with Whale Watch Kaikōura on its newest vessel – Te Ao Marama.Te Ao Marama is a 24-meter catamaran designed by Teknicraft and built by Q-West in Whanganui. The bespoke Whale Watch vessel is powered by four HamiltonJet HJ364 waterjets and is equipped with intuitive, next generation AVX controls, which makes it exceptionally maneuverable and safe to operate around marine animals.Te Ao Marama is the ninth Whale Watch Kaikōura vessel to utilize HamiltonJet waterjets.Kauahi Ngapora…

08 Jul 2020

HamiltonJet to Power 48 US Navy RIBs

HamiltonJet will collaborate with rigid inflatable boat manufacturer RIBCRAFT to supply 48 Rigid Inflatable Boats (RIBs) to the U.S. Navy.RIBCRAFT USA was recently awarded a five-year contract to deliver the RIBs custom-fitted for use in explosive ordinance disposal (EOD). The 11-meter vessels will be equipped with twin HJ292 waterjets, blue Arrow control systems and JETanchor technology from HamiltonJet. The contract also requires extensive spare parts and training to be delivered by HamiltonJet.A critical component of the Expeditionary Mine Countermeasures Company…

29 Jul 2020

NZ Companies Collaborate to Build Electric Ferries

Frmo left to right: Ben Reed, Hon Dr Megan Woods and Michael Eaglen (Photo: HamiltonJet)

New Zealand companies HamiltonJet and EV Maritime have signed a Memorandum of Understanding to build advanced composite, battery-powered commuter ferries.Their cooperation was formalized at HamiltonJet’s Christchurch headquarters in May, in the presence of Hon Dr Megan Woods, New Zealand’s Minister of Energy & Resources and Minister of Research Science & Innovation.With the aim of decarbonizing the harbor cities of the world, the firms are seeking to develop one of the world’s first truly high-speed…

19 Jun 2020

HamiltonJet Unveils Electro-Hybrid Drive (EHX)

(Image: HamiltonJet)

Waterjet propulsion specialist HamiltonJet unveiled its new Electro-Hybrid Drive (EHX) system, which it says offers all the advantages of electric drive with the full capabilities of diesel.The system delivers lower fossil fuel consumption (reduced further when dock charging, as infrastructure allows) combined with the speed, maneuverability, efficiency and safety of waterjets, the manufacturer says.With EHX, HamiltonJet delivers the electric motors, power electronics and control system seamlessly integrated with the waterjets, engines, gearboxes or clutches.

01 Dec 2020

Maritime Training: Non-Traditional Maritime Simulation

A screenshot from the RS simulation suite. Image: VSTEP

Our COVID-19 maritime world continues to change as our perspectives on education and training with the availability of online learning and conferencing, an increased use of webinars, and the use of simulation technology must evolve if we are to be able to continue to train and maintain skill sets as we navigate the current and predicted restrictions on movement. Changes made now may eventually become fully integrated in to future iterations of training in many industries.An increasing…