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AGGREGATE MATERIALS

Ingram to sell its Materials Unit

Ingram Industries Inc. of Nashville, Tennessee, and Pine Bluff Sand and Gravel Co. of Pine Bluff, Arkansas, announced today they have entered into an agreement for Ingram to sell its Ingram Materials LLC subsidiary to Pine Bluff. Ingram Materials is one of the nation’s premier producers of fine aggregate used by the construction industry for concrete, asphalt and masonry projects in Middle Tennessee, Western Kentucky and Northern Alabama. Ingram Materials operates three sand dredges on the Ohio River in Paducah, Kentucky, and has distribution facilities in Nashville, Clarksville and New Johnsonville, Tennessee; Paducah, Kentucky; and Decatur and Florence, Alabama. The Ingram Materials business was first established in 1927 by other owners who called it the Ohio River Sand Company. A successor to this business, called the Cumberland River Sand and Gravel Company, was purchased by the Ingram family in 1962 and renamed Ingram Materials. At that time, the business included a large sand yard facility on the east bank of the Cumberland River, visible from downtown Nashville. Ingram Materials relocated its operations to its current Nashville location at Visco Drive in 1997 – to make room for Nashville’s then-new NFL stadium built for the Tennessee Titans. Orrin Ingram, President and CEO of Ingram Industries Inc


Marine News Boat of the Month: February 2017

Image: Damen

Damen’s All New Marine Aggregate Dredger   Damen Shipyards Group recently unveiled a new line of Trailing Suction Hopper Dredgers (TSHD). The new product range, comprising of the Marine Aggregate Dredger (MAD) 4000 and 5600 vessels, was introduced in response to extensive market research and customer consultation. The MAD vessels are potentially important to an aggregate industry that, today, faces rising demand and an aging fleet


Ultrapetrol to Refinance, Sells 7 Barges

In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges. Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today its intention to offer to sell, subject to market and other conditions, $200.0 million aggregate principal amount of its senior secured notes due 2021.


Ultrapetrol Close Sale of US$25-million Notes Issue

Ultrapetrol (Bahamas) Limited an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced today the closing of its previously announced sale of $25 million in aggregate principal amount of its 8.875% First Preferred Ship Mortgage Notes due 2021 (the "Add-On Notes"), which were offered as an add-on to its outstanding $200 million aggregate principal amount of 8


Port of Redwood City Reports Tonnage Boost

Image: Port of Redwood City

Coming off of a strong second quarter for cargo tonnage, the Port of Redwood City's tonnage for all commodities in the first half of fiscal year 2013/2014 reached 829,681 metric tons, an increase of 24 percent over the same period last year. Imported sand and aggregates from British Columbia accounted for 642,480 MT, more than 77% of the tonnage for the first half of the fiscal year. This was nearly a 45% increase in the amount from the same period last fiscal year.


Hajioannou Takes on Safe Bulkers Newbuilds

Courtesy Safebulkers

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr. Polys Hajioannou, the Chairman of the Board and the Chief Executive Officer of the Company. Each vessel is scheduled to be delivered in the first quarter of 2017.


TBS International Limited Takes Delivery of Vessel

TBS International Limited has taken delivery of the M.V. Kibishio Maru, which it had previously agreed to acquire, thereby expanding its controlled fleet to 32 vessels. The M.V. Kibishio Maru, renamed the M.V. Aztec Maiden, is a 19,777 dwt multipurpose tweendecker that was built in 1984. TBS agreed on December 29, 2005 to acquire the M.V. Kibishio Maru for $8.1 million. It was delivered in Ho Chi Minh City, Vietnam on May 2, 2006. The acquisition of the M.V


G E Shipping to Buy a Suezmax Crude Carrier

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to join the Company's fleet during the second quarter of FY 2007-08. The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet. The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3


Star Bulk Carriers Raises $51.5mln

Pic: Star Bulk Carriers Corp

 Star Bulk Carriers Corp announced the execution of agreements with affiliates of Oaktree Capital Management, L.P. and Senator Investment Group LP to sell Oaktree and Senator an aggregate of 6,310,272 of its common shares, at a purchase price of $8.154 per share.    The private placement, which is scheduled to close by early February 2017, is expected to result in aggregate gross proceeds to Star Bulk of approximately $51.5 million.   


Scorpio to Sell Two MR Product Tankers

Photo: Scorpio Tankers Inc

Scorpio Tankers, provider of marine transportation of petroleum products, announced that it has reached an agreement with an unrelated third party to sell two of its 2013 built MR product tankers (STI Sapphire and STI Emerald) for approximately $56.4 million in aggregate.  The sales are expected to close in June 2017 at which time the Company will repay the outstanding secured debt for these vessels of $27.6 million in aggregate.   


Liberian Registry No 1 Choice for Greek Shipping

Image: Liberian Registry

 Liberia has confirmed its position as the leading flag of choice for Greek ship owners and operators, according to statistics produced by the independent research and information organisation Marine Information Services (MIS) in Greece.  


Safe Bulkers Expands Fleet

Photo: Safe Bulkers, Inc.

 Safe Bulkers, in its Q1 financial results annoucements said that with the latest addition of Pedhoulas Rose, its fleet has increased to 38 dry bulk vessels. In January 2017, the company took delivery of Pedhoulas Rose (Hull No. 1146), a 82,000 dwt, newbuild Kamsarmax class vessel. 


GOGL Adds Dry Bulk Vessel

Golden Shui. Photo: Golden Ocean Group Ltd

 Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of a dry bulk which it bought in March 2017.   On 14 March 2017, GOGL announced that it has entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction where the


Scorpio Tankers Merges with Navig8 Product Tankers

Photo: Scorpio Tankers Inc

 Scorpio Tankers has entered into definitive agreements to merge with Navig8 Product Tankers  and acquire Navig8’s 27 operating product tankers.   Subject to the terms and conditions of these agreements, Scorpio will acquire four LR1 tankers prior to the closing of the


Maintenance Dredging Underway at Port of Cape Town

The Isandlwana, a Trailing Suction Hopper Dredger. (Photo: TNPA)

Transnet National Ports Authority (TNPA)’s Dredging Services division has embarked on a $ 1.1 million maintenance dredging campaign at the Port of Cape Town to restore the design depths inside Duncan dock. The maintenance campaign, which began on March 8, 2017


Diana Prices USD 70 mln Public Offering

Photo: Diana Shipping Inc

 Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels,  announced that it has priced its previously announced underwritten public offering of 17,500,000 common shares, par value US$0.01 per share, at a price of US$4.00 per share.   


Hunter Buys Five Capsize Bulkers

Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated


ABS Leads Ballast Water Management Workshop

Photo courtesy of ABS

ABS, a provider of classification and technical services to the marine and offshore industries, hosted a Ballast Water Management (BWM) Workshop for ship owners with BWM systems installed onboard their vessels. The full-day session covered a range of issues, including installation


Hyundai Heavy Sails Back to Profit in Q1

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) has posted a net profit of KRW462.3bn ($409.6m) for the first quarter of 2017, making it the fifth consecutive quarterly profit for the group.   This represents a surge of 90% from the previous corresponding quarter. However, sales fell 1.9 percent to 10


New Dredger for North American Sand & Gravel Operation

RISD350 dredge (Photo: Rohr-Idreco)

Rohr-Idreco recently completed installation of a RISD350-M 14” (350 mm) electric dredge for application in the sand & gravel market.   The customer needed a new and efficient deep-digging electric dredge. As Rohr-Idreco is a manufacturer of modular dredges with the latest


Another Dry Bulk Ship Delivered to Golden Ocean

Golden Ocean Group Limited has taken delivery of dry bulk vessel Q Kennedy, to be renamed Golden Kennedy.    The vessel is the third of 16 dry bulk vessels recently acquired by Golden Ocean in an all-share transaction where the company will issue in aggregate 17


Navios Readies for Rickmers Vessel Acquisition

Photo: Rickmers Trust Management

 Navios Maritime Containers announced that it has agreed with investors to sell approximately 15 million of its shares for an aggregate of approximately $75 million of gross proceeds at a subscription price of $5.00 per share.  Navios Containers intends to use the proceeds to acquire


GOGL Takes Two More Vessels from Quintana

Image: Golden Ocean Group Ltd

 Golden Ocean Group (GOGL)  said it has taken delivery of additional two vessels, Q Myrtalia and Q Shea, from Quintana Shipping  in exchange for 1.95 million consideration shares.   A statement from the company said: "Reference is made to the stock exchange notice dated


Eagle Bulk Takes Delivery of Stonington Eagle

Photo:  Eagle Bulk Shipping

Eagle Bulk Shipping has taken delivery of the M/V Stonington Eagle, the third of nine Crown-63 Ultramax dry bulk sister vessels acquired from Greenship Bulk Trust for an aggregate price of $153 million. With the addition of the M/V Stonington Eagle


Dynagas Closes USD 480mln Term Loan B

Photo: Dynagas

 Dynagas LNG Partners, an international owner and operator of liquefied natural gas (LNG) carriers, announced  the closing of a USD 480 million Senior Secured Term Loan B facility (the "Term Loan B") by its wholly-owned subsidiary, Arctic LNG Carriers Ltd.  






 
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