What You & Your CFO Should Know
Richard J. Paine, Sr. is the President of Marine-Finance.Com, a maritime consulting firm specializing in the financing and leasing of commercial marine vessels and other equipment. He can be reached at [email protected] or 516-431-9285. That glimmer on the horizon that you see is the first indication of a return to some normalcy in the marine lending marketplace. But don’t confuse it with a full-fledged sunrise, it is far from that. It is merely a tease, a harbinger of things to come.
Bourbon $545M Deal for 16 Supramax Carriers
Bourbon announced that its subsidiary Setaf SA has signed a $545m sale agreement for 16 bulk carriers with U.S. group Genco Shipping and Trading Ltd. The closing is expected by end of July 2010.
Fifth USS Arizona Memorial Ferry Boat for Navy
The Navy officially accepted delivery of the fifth USS Arizona Memorial passenger ferry boat from Modutech Marine Inc. of Tacoma, Wash., June 25. This vessel is one of six boats being procured to replace the existing ferry boats that have reached the end of their service life. The boats, procured for the National Park Service by the U.S. Navy's Program Executive Office (PEO) Ships, serve as a ferry service to shuttle visitors to and from the memorial, and continue to support the U.S.
Huntingford, Davenport Join Capilano Maritime
Capilano Maritime Design Ltd., a naval architecture design firm based in North Vancouver, BC, Canada announced that John Huntingford has recently joined the firm as Senior Structural Designer. Huntingford gained experience in the maritime industry as an Outfit Designer for Kvaerner Masa Marine where he worked on design projects for the State of Maine and Alaska, as well as patrol vessels for Australia.
Virtual Christening of UOS Atlantis
"I hereby christen you UOS Atlantisand wish you always calm seasons." With these words and a bursting champagne bottle, Gesine Frerichs, assistant to the management of Hartmann Offshore GmbH, performed the honors at the ‘Virtual Christening’ of Hartmann’s newly build MOSS 424-type Anchor Handling Tug Supply vessel at Nautitec's Transas Full Mission Bridge Simulator in Leer, Germany. The UOS Atlantis is the first in a series of AHTS vessels currently under construction.
This Day in Coast Guard History – June 29
1820-On 29 June 1820 the Revenue cutter Dallas captured the 12-gun brig-of-war General Ramirez, which was loaded with 280 slaves, off St. Augustine. "On the 28th ultimo…
This Day in Naval History – June 29
1925 - Ships and men from 11th and 12th Naval Districts assist in relief after earthquake at Santa Barbara , CA 1950 - Truman authorizes sea blockade of the Korean coast 1950 - USS Juneau fires
Fugro Renewables Measures Underwater Noise
Teaming up with JASCO Applied Sciences, Fugro, an underwater acoustics company, is now providing measurement of underwater noise and allied consultancy. The new service will be launched at RenewableUK Offshore Wind 2010 (Liverpool, 29-30 June). The measurement of underwater noise, created during construction and operation of wind farms and tidal turbines, is an important component of any EIA and is…
Engine Troubles Lay Up USCG Cutter Polar Sea
The U.S. Coast Guard announced an unexpected engine casualty aboard Coast Guard Cutter Polar Sea, one of the service’s three polar icebreakers, will prohibit the icebreaker from getting underway for its fall 2010 Coast Guard Arctic patrol and will most likely keep the cutter from providing standby capability for Operation Deep Freeze to support the resupply of McMurdo Station, Antarctica. Polar Sea will likely be in a maintenance status and unavailable for operations until at least January 2011.
Genco to Acquire 16 Supramax Vessels
Genco Shipping & Trading Limited (NYSE:GNK) announced that it has entered into an agreement with Bourbon SA to acquire 16 Supramax vessels, including two newbuildings…
Venezuela Considers Restarting Caribbean Natural Gas Drilling
According to a June 26 report from Reuters, Venezuela is studying offers to restart drilling at an offshore natural gas well in the Caribbean Sea after an exploration platform sank there last month…
Historic UK Ship to Become Floating Museum
According to a June 27 report from The Press Association, a historic vessel - thought to be the world's last complete steamcoaster - will be lifted on to a floating…
Transas Simulators for Intership Navigation
Transas Marine, Hamburg (Germany), has been awarded the contract for two simulation systems that will be delivered and installed onboard two ships operated and owned…
Thölin General Manager, Alfa-Laval, Marine & Diesel
Joakim Thölin was appointed General Manager, Segment Marine & Diesel at Alfa Laval AB, effective as of April 1, 2010. He will be based in Tumba, Sweden, and he replaces Peter Carlberg who has taken up the position as Managing Director of Alfa Laval KK, Seoul Korea. Joakim Thölin joined Alfa Laval in 1993 and has since held international management positions in Peru, USA, Korea and most recently as…
Navigating Obstacles: Short Sea Shipping
Short-sea shipping, also referred to as the “Marine Highway” and, in some cases, “coastal shipping,” is the subject of more studies than we can list. Whatever the label, the concept refers to an initiative to get freight off our roadways, which are at capacity, and onto our waterways, which have to yet to be tapped to their potential. More than likely you’ve heard about the promises of this mode of transport…
Storm May Thwart BP Well Containment
According to a June 25 report from the Houston Chronicle, a tropical weather system heading for the Gulf of Mexico threatened to halt operations at the BP well leak…
T&T Marine Response Service Agreement
T&T Marine Salvage, a provider of maritime support services, announced an exclusive cooperative services agreement with OSROCO and Unitek to provide oil spill response services in Guam…
Interview: Bareksten of CHS, Fortune 100
In the June edition of MarineNews, Jim Bareksten, Director, Government Affairs, CHS, Inc. spoke about the challenges facing his industry. CHS is a diversified energy, grains and foods company, a Fortune 100 company using river barges to transport some of its product. How did your company/the industry weather 2009? CHS performed very well during our fiscal 2009, in fact we recorded our fourth-best results in the 80 years since this cooperative business was founded.
This Day in Coast Guard History – June 28
1946- Peacetime cruises for the cadets of the U.S. Coast Guard Academy at New London Connecticut, were revived. (Source: USCG Historian’s Office)
This Day in Naval History – June 28
1794 - Joshua Humphreys appointed master builder to build Navy ships at an annual salary of $2,000.
