Marine link
 

MARCO

Court Confirms Marco Polo Seatrade Chapter 11 Protection

U.S. Courts confirm Marco Polo Seatrade Chapter 11 protection and frees vessel. The New York Court supervising the reorganisation of Marco Polo Seatrade and its group affiliates has rejected the motions filed by the Royal Bank of Scotland and Credit Agricole seeking to dismiss the group's US Chapter 11 filings. Both lenders had asserted that Marco Polo Seatrade was not eligible for Chapter 11 protection and had indeed initiated its Chapter 11 case in bad faith. The court rejected all of the lenders' arguments. Antonio Zacchello, MD of Marco Polo Seatrade, says, "We are delighted that the court has confirmed that we acted in accordance with the law and in good faith in starting our Chapter 11 proceedings. We now look forward to developing the Chapter 11 reorganisation plan, preferably on a consensual basis with our lenders and creditors that will enable us to emerge from Chapter 11 as a strong and healthy competitor in the global shipping market." Marco Polo Seatrade has reached an agreement with Credit Agricole to release the 115,000 dwt aframax tanker Montiron from arrest and return it to operations. Credit Agricole’s arrest of the Montiron on July 21, 2011 was one of the precipitating factors for Marco Polo's Chapter 11 filing. Marco Polo Seatrade is confident that it can resume its day-to-day activity in the pool within the next few days. This consensually resolves the litigation begun by Marco Polo against Credit Agricole relating to the release


Marco Launches New Website

Photo: Macro

Marco Group International, a service and equipment provider for the surface preparation industry, has launched its redesigned Marco.us website. The focus of the website’s redesign was to simplify navigation and enhance functionality. The site includes a new, modern visual design, redefining the Marco brand. The site also includes expanded product information, including part number listings and schematic drawings, simplified navigation to get to information in two clicks or less


Sembcorp - Marco Polo Dispute Update

Image: PPL Shipyard Pte Ltd

 Rig-builder Sembcorp Marine (SembMarine) is currently embroiled in a dispute with Marco Polo Marine over a US$214.3 million rig construction contract that Marco Polo wants terminated.   In a statement on Monday, Macro Polo reiterated its position that it is not obliged to take delivery of the rig, as Sembcorp Marine unit PPL Shipyard had failed to comply with certain contractual obligations.   


PacFish Acquires Equipment from MARCO Auction

PacFish Shipyard acquired shipyard marine equipment at the MARCO Shipyard auction on the Lake Washington Ship Canal, including a Wheelabrator sandblast cabinet with 6-ft. rotary table, equipped with dust collector and re-useable shotblast for zero discharge to the environment. Big Bertha, MARCO’s classic 150-ton Denison hydraulic steel press, was one item that generated bidding action from a shipyard in Anacortes. Shipyard General Manager Doug Dixon was determined to keep Big Bertha on the


Marco Polo Seatrade Exits Chapter 11

Marco Polo Seatrade and its affiliated companies have obtained final approval of their Plan of Liquidation from the New York Bankruptcy Court overseeing the Chapter 11 case.   The plan was unanimously approved by all Marco Polo creditors, and the Court entered the final order at the confirmation hearing held today. Antonio Zacchello, managing director of Marco Polo Seatrade, says, “Our companies worked hard with the banks and our creditors to devise a Chapter 11 Reorganisation


MARCO Shipyard To Construct Third Millennium Class Tractor Tug

MARCO Shipyard Seattle has signed a contract to construct a third Millennium Class tractor tug for Harley Marine Services. Measuring 105 ft. (32 m), the multipurpose tug will be identical to its sisterships, Millennium Falcon and Millennium Star, delivered in February and August 2000, respectively. Construction of the tug is ongoing, with delivery planned for March 2002. Similar to its predecessors, the MARCO-designed tug will have an overall beam of 37 ft. (11


Damen Performs Cruise Ship Maintenance

Photo: Damen

Astor and Marco Polo receive refurbishment and class survey work   Damen Shiprepair & Conversion has recently carried out a number of cruise ship repair and refurbishment projects in the Netherlands, including Astor and Marco Polo, both operated by Cruise & Maritime Voyages. The vessels have been at Damen Shiprepair Vlissingen (DSV) for a wide-ranging program of scheduled and unscheduled work. Damen carried out its scope within a tight timeframe so that both ships were ready for


KMSS To Upgrade System on M/V Marco Polo

Kongsberg Maritime Ship Systems (KMSS) has been awarded the contract to upgrade the fire detection system on the M/V Marco Polo. The cruise vessel is owned by Norwegian Cruise Line/Orient Line in Miami, a part of Star Cruises. The contract includes 1500 Detectors, 800 ‘smart buzzers’ and the Autromaster 5000 Color Graphic Workstation. The Autromaster 5000 offers a color graphic indication, monitoring and control system that has been approved by the maritime authorities and classification


Kvichak Constructs Skimmers for Gulf Spill

Photo courtesy Kvichak Marine

Kvichak Marine Industries is currently constructing a run of approximately 30 rapid response oil skimmers fitted with Marco Pollution Control CL-1 Filterbelt oil recovery modules for customers responding to the Gulf oil spill. The Kvichak/Marco Filterbelt is suited for high volume recovery of the oil types encountered in this spill. Kvichak is expecting over 100 skimming vessels utilizing the Filterbelt to be in operation on this spill in the coming weeks


World's Largest Container Ship Flies Red Ensign

CMA CGM Marco Polo: Photo credit UK MCA

The 175,343 gt 'CMA CGM Marco Polo' owned by CMA CGM Group joins the UK ship register. The first in a series of three new 16,000 TEU container ships, for the CMA CGM group to serve on the Asia-Europe routes, the ship was built in Korea by Daewoo Shipbuilding & Marine Engineering Co Ltd, and is almost a quarter of a mile long. 
 The new vessel is also designed with cutting edge technology for high levels of performance, safety and environmental protection


Rolls-Royce, Inmarsat Sign Ink Energy Management Deal

Photo courtesy of Rolls-Royce

Rolls-Royce and Inmarsat have signed a Letter of Intent (LOI) to have the option to make the company’s Energy Management system available via Inmarsat Maritime’s Fleet Xpress high-speed broadband service.   With data collected from a multitude of ship control systems and


CMA CGM Organized Towing Exercise

Photo taken from CMA CGM Video

 The Maritime Prefecture of the Channel and the North Sea, in liaison with the CMA CGM Group and Les Abeilles (Bourbon Group), organized a towing exercise between a large container ship, the CMA CGM Marco Polo, and the Abeille Languedoc, including an ‘intervention’


d'Amico Tankers Updates Ship Sales and Purchases

Photo: ​ d’Amico ​Società di Navigazione SpA

 In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea, to Sea World Tankers a client of Sea World Management SAM, for a consideration of US$ 13.5 million each.   


ABS Issues Software Quality Assessment in Asia Pacific

ABS has issued the first Integrated Software Quality Management (ISQM) Product Design Assessment (PDA) Certificate in the Asia-Pacific region for Industrial Control Systems software to Singapore-based Excel Marco, a solutions provider for process automation and safety systems for the marine and


CMV's Columbus Prepped for Summer Cruising

Photo: DSR

Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion, said it has completed maintenance and repair works on the newest member of CMV’s fleet, the cruise ship Columbus. The full work scope was concluded within a tight timescale


SHIPS Act: 355 Ship Navy Gets Legislative Mandate

COVER PG MR March.jpg

The push to rebuild the U.S. Navy received a boost today when U.S. Senator Roger Wicker, R-Miss., and Congressman Rob Wittman, R-Va., introduced bicameral, bipartisan legislation that would make it the policy of the United States to achieve the Navy’s requirement of 355 ships


Italian Maritime Robotics Expert Bags DNV GL Award

(From left to right) Christian Cabos, Head of Department Information Management Technologies at DNV GL – Maritime, Marco Bibuli, Researcher at the Italian research centre CNR-ISSIA, and Volker Bertram, COMPIT Coordinator and Project Manager Engineering Services Newbuilding at the DNV GL Maritime Academy, at the COMPIT awards ceremony in Cardiff. (Credit: Felix Selzer). Photo: DNV GL

 Marco Bibuli was announced as the winner of the DNV GL COMPIT Award 2017 for smart underwater robotics, which took place in Cardiff this year.    The Italian maritime robotics expert, working at the Italian research center CNR-ISSIA in Genova


Marco Polo Seeks Protection from Creditors

Photo: Marco Polo Marine Ltd

 The Board of Directors of Marco Polo Marine informed that PT Marcopolo Shipyard (PTMS), has filed an application to place itself under a Penundaan Kewajiban Pembayaran Utang (PKPU) suspension of debt payment plan in accordance with Law on Bankruptcy and Suspension of Debt Payment.  


Marco Polo Marine Seeks Suspension

Image: Marco Polo Marine Ltd

Singapore-listed shipping services company Marco Polo Marine requested a trading suspension following an "increasing number" of demand letters from creditors.   In a stock exchange announcement, the company said: "Though the company is not of the present view that a failure


Navios Selects Preferred Scrubber Supplier

 Navios Selects DuPont as Preferred Scrubber Supplier   Navios ShipManagement Inc., a member of Navios Group, has issued a letter of intent endorsing DuPont Clean Technologies as the preferred supplier of exhaust gas cleaning systems (EGCS) for its vessels


Marine Professionals commemorates 20th anniversary

MPI 20th Anniversary Logo

Marine Professionals Inc. (MPI) is marking its 20th year in business, kicking off a year-long commemoration with a new celebratory logo and a secondary, complementary visual.  The anniversary logo symbolizes MPI’s success over the past 20 years


Marco Polo Marine Revenue Drops for Q1

Photo:  Marco Polo Marine Ltd

 Marco Polo Marine Group  Group recorded a revenue of S$11.4 million in Q1FY2017, a decrease of 33% from that of S$17.0 million in Q1FY2016.   Relative to Q1FY2016, the Ship Chartering Operations’ revenue of the Group decreased by 31% to S$4.4 million in Q1FY2017


Cruise & Maritime Voyages selects Damen

Marco Polo at DSAm Photo Damen

Damen Shiprepair Amsterdam (DSAm), part of Damen Shiprepair & Conversion (DSC), has completed maintenance works on cruise vessels Marco Polo and Magellan. Both vessels are operated by British based Cruise & Maritime Voyages (CMV), part of the Global Maritime Group


D’Amico Sells Two MR Vessels

Photo: d’Amico ​Società di Navigazione SpA

 D’Amico International Shipping (DIS) announced that its operating subsidiary d’Amico Tankers (Ireland) sold MT High Endurance and MT High Endeavour, two vessels in favour of Sea World Tankers a clients of Sea World Management SAM, for a consideration of US$ 13.5 million each.


Troll Solution Wreck Removal Completed

(Photo: Ardent)

A stricken jack-up has been removed from the Mexican seabed in close proximity to a well head platform, making for the largest wreck removal project completed in 2016.   Weighing approximately 7,000 tons, the jack-up Troll Solution, contracted to operate in Pemex's Abkatun-Pol-Chuc shallow






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright