Port of Corpus Christi Raises USD 216mln for Ship Channel Expansion
Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds. These bonds will be used for both the deepening and widening of the Corpus Christi Ship Channel as well as upcoming capital projects within the Port.Wells Fargo Securities acted as Lead Manager of a syndicate of underwriters including JP Morgan, Citigroup, and Frost Bank.“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds.” said Sean Strawbridge, CEO of the Port of Corpus Christi. “This round of funding will help the Port of Corpus Christi further progress our ambitious…
Port Corpus Christi MD Retires
The Port of Corpus Christi Authority announces the upcoming retirement of Frank Brogan, Managing Director. Mr. Brogan will retire on February 2, 2015. He has been actively involved with the Port for over 40 years. "Frank Brogan has been the grand architect of all the port's significant projects of the last 3 decades! His energy, patience, resourcefulness and incredible talent transformed this port and positioned the region to attract over $32 billion of investment. His stunning accomplishments are balanced by his personal humility - diverting all credit to his staff and others. Although it's 50 years later, he has those same qualities we attribute to the Greatest Generation. Frank's legacy is prosperity for the Coastal Bend," said Judy Hawley, Port Commission Chair.
Gulf Island Fab Sign Bechtel Offshore Cooperation Agreement
Gulf Island Fabrication, Inc. says it has signed a cooperative agreement with Bechtel Oil, Gas, and Chemicals, Inc. to work together to pursue opportunities for offshore projects for the U.S. Gulf of Mexico and abroad. “Gulf Island is excited about the cooperation agreement signed with Bechtel which couples our fabrication expertise and specialized capabilities with one of the most respected EPC companies in the world. Together we offer a new approach to deliver offshore projects which incorporates innovative solutions and flexibility to meet and exceed client expectations and requirements,” said Kirk Meche, President and CEO of Gulf Island Fabrication, Inc.
River Towboat Pair Order for Gulf Island Fab
Gulf Island Fabrication, Inc. (GIFI) informs that through its subsidiary Gulf Island Marine Fabricators, L.L.C., it has signed a contract for the fabrication of two 8,000 bhp twin screw diesel-engined river towboats. Revenue backlog and man-hours associated with this project will be reported in connection with the Company’s announcement of financial results for the quarter ending June 30, 2014. GIFI adds that the contract includes an option (expires March 15, 2015) for a third 8,000 bhp towboat that would be included in backlog upon exercise of the option, should the customer elect to do so. Gulf Island Fabrication, Inc., based in Houston…
Gulf Island Fab Reports Q1 2014 Revenue Increase
Houston headquartered Gulf Island Fabrication, Inc. reported net income of $3.5 million ($0.24 earnings per share) on revenue of $134.7 million for its first quarter ended March 31, 2014, compared to net income of $2.8 million ($0.19 earnings per share) on revenue of $150.4 million for the first quarter ended March 31, 2013. The company had a revenue backlog of $271.4 million and a labor backlog of approximately 2.5 million man-hours at March 31, 2014, including commitments received through April 14, 2014, compared to a revenue backlog of $358.7 million and a labor backlog of 3.3 million man-hours reported as of December 31, 2013. Gulf Island Fabrication…
FERC Approves New LNG Terminal
The Federal Energy Regulatory Commission approved several new natural gas projects, including the construction of a new marine terminal for liquefied natural gas (LNG) and expansion of a previously approved LNG project that will increase and enhance the energy infrastructure in the Gulf Coast region of the United States. The Commission approved a proposal by Corpus Christi LNG, L.P. and Cheniere Corpus Christi Pipeline Company to construct and operate a new LNG terminal and related pipeline facilities near Corpus Christi, Texas. The Commission also approved an amended proposal by Cameron LNG, LLC to expand its facilities in Hackberry, LA to receive larger LNG tankers at its terminal that is currently under construction.
Texas LNG Facility Gets Go Ahead
The Federal Energy Regulatory Commission (FERC) approved an innovative new liquefied natural gas (LNG) terminal and related facilities proposed by Ingleside Energy Center and San Patricio Pipeline to be located in San Patricio County, Texas. The Commission granted Ingleside Energy Center authority under Section 3 of the Natural Gas Act to construct a new terminal designed to provide an option for extracting natural gas liquids in addition to importing, storing and vaporizing one billion cubic feet (Bcf) of gas per day. The project would be constructed on the shoreline of Corpus Christi Bay near Ingleside, Texas, on a site owned by the applicants’ parent company, Occidental Chemical Corp. “I congratulate the Commission staff for processing this application so expeditiously.
