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Halter Wins

VT Halter Wins $254m Contract

VT Halter Marine won a contract to build three 330,000-barrel tank barges for Crowley Maritime Corporation's subsidiary, Vessel Management Services Inc. The vessels, which include the cost of owner-furnished equipment, are valued at approximately $254m. They are the largest in Crowley Maritime's history and the fastest in their class. VT Halter Marine is the US operations of ST Engineering's marine arm, Singapore Technologies Marine Ltd (ST Marine). VT Halter Marine currently has three contracts with Vessel Management Services Inc. to build the tugs and 185,000-barrel barges for 10 Articulated Tug Barge (ATB) units, at the total value of approximately $515m. This latest contract will bring the total contractual value with Vessel Management Services to $769m. The 330,000-barrel tank barges for today's contract are similar to the 185,000-barrel barges being built at VT Halter Marine, but they will have about 78 percent more cargo handling capacity. When completed, they will be operated in the US coastwise trade by Crowley Maritime's petroleum services segment. Recent facility improvements, including the extension of the launch system, have enabled the US shipyard to accommodate vessels up to Panamax in size, thereby meeting the rising demand for vessels with higher cargo capacity and deep water capability.


VT Halter Marine and NOAA to Celebrate Keel Laying

VT Halter Marine Inc. and the National Oceanic and Atmospheric Administration will hold a combined keel-laying ceremony on June 15 for two NOAA ships under construction at VT Halter’s Moss Point, Miss., shipyard. Bell M Shimada is the last of four fisheries survey vessels of the same design constructed for NOAA. Ferdinand R. Hassler is a small waterplane area twin hull coastal mapping vessel, the first of its class to be designed and constructed by VT Halter Marine.


VT Halter Marine Secures Contracts Worth $121M

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems) has finalized an agreement with the U.S. Government to complete two contracts, including the construction of a Fisheries Research Vessel for the National Oceanographic Atmospheric Administration (NOAA) and the construction of a Logistic Support Vessel for the U.S. Army. The Agreement, known as a “novation” provides an arrangement for VT Halter Marine to complete the multi-million dollar construction


Bollinger to Acquire Halter Marine

In what amounts to what would be an amazing turn of fortune over a number of years, Bollinger Shipyards, Inc., Lockport, La., has signed a contract, pursuant to approval of the U.S. Bankruptcy Court, to acquire the assets and operations of Halter Marine from Friede Goldman Halter, Inc. Bollinger Shipyards has always been regarded as a well-run builder of quality vessels for the U.S. and foreign markets. However, less than a decade ago


News: World's Largest Dry Transport Vessel Delivered

Heavy transport shipping company Dockwise Shipping B.V. took delivery of the M/V Blue Marlin after her conversion into the world's largest semi-submersible heavy transport vessel able to carry heavy cargoes up to 73,000 tons. After a conversion of three months at the Hyundai Mipo Dockyard Blue Marlin has re-joined the Dockwise fleet with an increased deadweight capacity of 76,061 tons. The beam has been increased by 21 m, which results in an increased unobstructed deck area of 11,227 sq


VT Halter Marine President Skinner Retires

Bill Skinner (Photo: VT Halter Marine)

VT Halter Marine, Inc. (VTHM), a company of Vision Technologies Systems, Inc. (VT Systems), announced a change of senior leadership.   After more than 46 years in the shipbuilding business, including nearly two decades at VT Halter Marine, President and CEO Bill Skinner has announced his retirement. Skinner previously served as President, CEO and Director of ADDSCO Industries (1985-1989), the parent company of Alabama Maritime Corporation


VT Halter Marine Moves Corporate Offices

VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., will relocate its corporate office to its Pascagoula Operations in Jackson County, Miss., effective July 1, 2004. VT Halter Marine currently owns six shipyards in Mississippi, two of which are fully operational. Boyd E. King, Chief Executive Officer stated, “With this move, VT Halter Marine will be more integrated and this will position the company for growth and future facilities expansion


VT Halter Marine To Build Two Additional OSVs

VT Halter Marine To Build Two Additional Offshore Support Vessels VT Halter Marine, Inc. (VT Halter Marine), a subsidiary of VT Systems, Inc. (VT Systems), today announced that Hornbeck Offshore Services, Inc. (NYSE: HOS) has exercised the options for two additional Offshore Supply Vessels (OSV), valued at a total of US$89m with deliveries expected in the fourth quarter of 2014 and first quarter of 2015. VT Halter Marine announced on 18 November last year that it had secured the contract


VT Halter Marine’s Dry Dock Arrives in Pascagoula

Floating Dry Dock transported by a heavy lift vessel from the Philippines arrives in Pascagoula (Photo: VT Halter Marine)

VT Halter Marine Inc, a subsidiary of VT Systems Inc., announced the arrival of a 12,000 MT Floating Dry Dock transported by a heavy lift vessel from the Philippines. The dock dimensions are LOA- 546 FT x B 128.5 FT x D 46 FT. The dry dock is part of an overall expansion plan to the south yard in Pascagoula where VT Halter Marine is adding a repair facility for semi-submersible drilling rigs and Panamax-size ships.


VT Halter Marine Delivers Ocean-Going ATB Tug

Denise A. Bouchard: Photo VT Halter Marine

VT Systems subsidiary VT Halter Marine says it has constructed and delivered the ocean-going 112-ft Articulated Tug Barge (ATB) Tug, 'Denise A. Bouchard', for Bouchard Transportation Co., Inc (Bouchard). Measuring 112 feet by 35 feet by 17 feet, the 4,000hp tug is classed by ABS as A1 Towing Vessel, Dual Mode, and is equipped with an Intercon Coupler System. Construction of the vessel began in March 2013 and the tug was launched in February 2014


WIN WIN: Wind Powered Oil Recovery Concept Progresses

The WIN WIN Concept. (Image: DNV GL)

The DNV GL-led joint industry project, WIN WIN (WINd powered Water INjection), has completed its first phase and determined that wind power could be used to power offshore water injection. The project is currently moving into its second phase


Private Equity Boost for Hyundai Samho

South Korea’s Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), said it has attracted 300 billion ($264 million) won investment via pre-IPO.   Under the agreement signed with Korean private equity firm IMM Private Equity


Hyundai Heavy's New Orders Tallied at USD 2.3 bln

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January – April period, which is the largest ship orders for the comparable period in three years. 


Daewoo Shipbuilding books first Quarterly Profit in 4 years

File Image (CREDIT: AdobeStock / (c) Burnel11)

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd posted its first quarterly profit in more than four years on Thursday, as on-time delivery of higher-margin vessels as well as cost-cutting measures helped the bottom line.  


Samsung Heavy Trims Operating Loss for 2016

Photo: Samsung Heavy Industries

 Samsung Heavy Industries (SHI), South Korea's second largest shipbuilder,  has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction.   SHI ended the year with an operating loss of KRW 147


Hyundai Heavy Back in the Black

Photo: Hyundai Heavy Industries

 The South Korean shipbuilder Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015.  


VT Halter Marine Names Socha Senior VP

Robert A. Socha (Photo: VT Halter Marine)

U.S. shipbuilder VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has appointed Robert A. Socha as Senior Vice President of Business Development and Estimating, effective January 30, 2017.   In his role


Daewoo Shipbuilding Seeking Stake Sale in Non-Core Assets

File Photo: Photo: Daewoo Shipbuilding and Marine Engineering

 South Korea's Daewoo Shipbuilding & Marine Engineering Co (DSME)  is accelerating its move to  sell all non-core assets o beef up its financial status amid concerns over a sharp fall in new orders, Yonhap reported quoting industry sources.     


First LNG-fueled Aframax Tankers Ordered

Image: Hyundai Heavy Industries Group

Hyundai Heavy Industries Group reports $240 million order for the world’s first liquefied natural gas (LNG) fueled aframax tankers   Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114


SM Group Mulls More Takeovers

Photo: SM Line Corp

 South Korea’s Samra Midas Group (SM Group) said that it is looking to acquire some overseas shippers, among other businesses in an effort to expand its foothold in the maritime sector, Yonhap News Agency cited one of the company’s officials.  


Jones Act LNG-powered ConRo Ship Launched

El Coquí launched at the VT Halter Marine shipyard in Pascagoula, Miss. (Photo: Crowley)

Crowley Maritime Corp.’s newest combination container/Roll on-Roll off (ConRo) ship has been launched at the VT Halter Marine shipyard in Pascagoula, Miss. for the Crowley’s service between Jacksonville, Fla., and San Juan, Puerto Rico.  


Daewoo Shipbuilding to Get Fresh $2.6 Bln Bailout

File photo: Daewoo Shipbuilding & Marine Engineering Co Ltd

South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd, which has built up huge losses from offshore projects and risks missing debt repayments.   Daewoo


DSME's Bailout Plan Cleared by Pension Fund

Photo: DSME

 South Korea’s National Pension Service (NPS) agreed to a restructuring of bonds issued by Daewoo Shipbuilding & Marine Engineering (DSME).    Reuters reported that this move is expected to help the world’s largest shipbuilder tide over a financial crisis


Daewoo Shipbuilding Bondholders Okay Bailout Plan

File Image (CREDIT: AdobeStock / (c) Carabay)

Debt-to-equity swap plan is condition of $2.6 bln bailout.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings


Daewoo Shipbuilding unlocks $2.6 bln Bailout

File Image (CREDIT: AdobeStock / (c) Carabay)

Bondholders at final meetings agree to debt-to-equity swap; shipbuilder needs about $400 mln in operating funds by April-end.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity






 
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