CGG Wins Creditor Support for Chapter 11 Plan
CGG SA announces that all creditor classes entitled to vote on the chapter 11 plan proposed in the chapter 11 cases commenced on 14 June 2017 in the US Bankruptcy Court for the Southern District of New York by CGG SA’s 14 main foreign, direct and indirect subsidiaries, each a borrower or guarantor in respect of CGG Group’s funded financial indebtedness, have accepted the plan overwhelmingly. Specifically…
Tellurian Fixes Maran LNG Carrier
A wholly-owned subsidiary of Tellurian has entered into a six-month time charter contract with Maran Gas Maritime for a liquefied natural gas (LNG) tanker, the Maran Gas Mystras. Tellurian took delivery of the tanker at Galle, Sri Lanka on October 1, 2017. President and CEO Meg Gentle said, "At Tellurian, we are building a global natural gas business and proactively shaping the company to build long term value amid a robust and dynamic market.
MasterCraft Acquires NauticStar
MasterCraft announced that it has acquired NauticStar, a leading manufacturer and distributor of 18-28 foot, high-quality bay boats, deck boats and offshore center console boats for approximately $79.8 million. Founded in 2002, NauticStar, located in Amory, Mississippi, is privately owned and operated. With more than 15 years of boat manufacturing experience—including a 200,000 square-foot manufacturing facility—NauticStar has a reputation for reliability…
Euroseas Acquires New Vessels
Euroseas announced that it took delivery of M/V EM Athens, a feeder containership of 2,506 teu built in 2000 that the Company agreed to acquire last month from Euromar, a wholly-owned subsidiary of the Company that previously was partially owned by the Company. M/V EM Athens was acquired along with EM Oinousses, a feeder size containership also of 2,506 teu built in 2000. The Company also announced today that it exercised its option to purchase from Euromar two additional container vessels…
Dong Energy Changes Name to Orsted
Following the profound strategic transformation from black to green energy and the recent divestment of the upstream oil and gas production, the name DONG Energy does not fit the company anymore. Consequently, DONG Energy has today called an Extraordinary General Meeting to ask the shareholders of the company to approve a change of the company name to Ørsted. Thomas Thune Andersen, Chairman of the Board of Directors, says: “DONG was originally short for Danish Oil and Natural Gas.
MOL Plan to Build New HQ
MOL Group announced its plans to relocate its corporate headquarters by 2021 to MOL Campus, the company’s new 83,000 sqm office, which will be designed by one of the most renowned architectural studios in the world, the UK-based Foster + Partners. The 120-meter high building, which will be the future workspace for up to 2500 employees, will be located on the banks of the Danube in the southern part of Budapest, close to the current HQ building.
India to Develop Muktyala to Vijayawada Stretch of Krishna River
Indian Vice President Venkaiah Naidu will lay the foundation stone for the development of Muktyala to Vijayawada stretch of Krishna River (National Waterways – 4) today (October 03) in Vijayawada, Andhra Pradesh. He will also inaugurate approximately 415 km of National Highways projects worth Rs 1928.46 crores and lay the foundation stone for another 250 km NH projects worth Rs 2539.08 crores. The Minister of Road Transport & Highways…
Kalmar Key's Open Interfaces for Terminal Automation
Kalmar has announced Kalmar Key, the terminal industry's first automation platform with open interfaces. Kalmar Key provides a common system architecture for building an end-to-end, customised automation platform using Kalmar Terminal Logistics System (TLS) as a basis. The product opens the application-independent core software components of the Kalmar terminal automation system for use by developers, enabling terminal operators to extend their automation systems with any brand of equipment.
GE's Chairman Jeff Immelt Retires
U.S. industrial conglomerate General Electric Co's chairman Jeff Immelt retired earlier-than-expected on Monday, with the company naming Chief Executive John Flannery as his replacement.
Envirocleanse to Install BWTS on CMB Vessel
Ballast water treatment system (BWTS) manufacturer Envirocleanse said it recently signed an Agreement with CMB/Bocimar to install the patented inTank BWTS aboard the Capesize bulk carrier, Mineral New York. The initial installation will be designed as a pilot study to reflect much of CMB's fleet and will include the treatment of a cargo hold being used in part as a ballast tank. Envirocleanse is currently…
Vigor to Build US Army Landing Craft
The U.S. Army has chosen the Vigor design for its Maneuver Support Vessel (Light), MSV(L), a new generation of landing craft to replace the aging LCM-8 Mike boats. “This award is the culmination of a five year process of research and development that first began with Kvichak prior to its merger with Vigor,” said Frank Foti, Vigor CEO. The Vigor MSV(L) design was developed in partnership with BMT following…
Interlake Steamship Joins Green Marine
The Interlake Steamship Company has become the first U.S. Great Lakes ship owner to join Green Marine, a voluntary environmental certification program for the maritime industry in North America. As the largest privately held U.S.-flagged fleet on the Great Lakes, the Interlake Steamship Company is propelled by a long-term vision to make its vessels the most efficient and environmentally responsible in the shipping industry.
CMA CGM to Acquire SOFRANA Unilines
CMA CGM announced it will purchase through its subsidiary, ANL, the majority of the shares in SOFRANA Unilines, a key player in the Pacific Islands regional maritime trade. With operations in the South Pacific region for almost 50 years, SOFRANA Unilines operates directly or in partnership a fleet of 10 vessels on eight trade-lanes, servicing 21 ports in Australia, New Zealand, Papua New Guinea and the Pacific islands.
Locks Failure Highlights US Infrastructure Woes
The Ohio River was closed to commercial navigation on Monday near Brookport, Illinois, after a hydraulic system used to open and close lock gates at lock and dam 53 failed, the Waterways Council said. A queue of more than 65 towboats was waiting to pass through the area on Monday morning, the group said in a news release. The closure was the latest headache for shippers scrambling to haul newly harvested soybeans from Midwest farms to export terminals along the Gulf Coast. U.S.
Yanmar Launches New Diesel Outboard
Following its agreement with German manufacturer Neander Shark for exclusive global distribution of the Dtorque 111 twin-cylinder 50 hp diesel outboard engine, YANMAR MARINE INTERNATIONAL (YMI) has announced the official launch of this new propulsion product. The compact Dtorque 111 is designed to revolutionize the small workboat market where its expected lifespan of well over 10,000 hours at least doubles that of any comparable outboard gasoline engine.
71% of New Box Ships Exceed IMO’s 2025 EEDI -Study
A new study has revealed that nearly three-quarters (71 percent) of all new containerships, which emit around a quarter of global ship CO2 emissions, are already in compliance with the post-2025 requirements of the International Maritime Organization’s (IMO) Energy Efficiency Design Index (EEDI). The study, based on analysis of the IMO’s own data and conducted by Transport & Environment (T&E), a founding member of the Clean Shipping Coalition (CSC)…
More Fuel on the Way to Puerto Ricans
Puerto Rico Governor Ricardo Rossello reported progress in getting fuel supplies to the island's 3.4 million inhabitants on Monday as they faced a 13th day largely without power after the U.S. territory was devastated by Hurricane Maria. "We've been increasing the number of gas stations that are open," Rossello said at a news briefing, with more than 720 gas stations now up and running. Puerto Rico…
Damen Hires Trevisan as Sales Director, Cruise Newbuilds
Damen Shipyards Group has appointed Andrea Trevisan as its new Sales Director Cruise New Building, as the company plans to further expand its standing in the flourishung expedition and small size cruise vessels market. Trevisan will oversee Damen’s global commercial and marketing activities with regard to new build cruise vessels. “I will be a sort of Damen brand ‘ambassador’ for the cruise industry…
Royal IHC to Build Reel Lay Vessel for Subsea 7
Royal IHC and Subsea 7 have signed a contract for the design and build of a high specification reel lay vessel capable of installing complex rigid flowlines including pipe-in-pipe systems. IHC said it has worked in close cooperation with Subsea 7 to incorporate several innovative features to make this one of the most technologically advanced vessels to date. The vessel’s compact dimensions are facilitated by the creative positioning of its three engine rooms and main reel…
Taking the Guesswork out of Navigating Tropical Cyclones
StormGeo's shipping division (formerly AWT), a provider of fleet optimization services, fleet performance and onboard voyage management software, has introduced…