Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Atm News

02 Jun 2021

Eagle Bulk Buys Modern Ultramax Duo for $44M

For illustration only - An Eagle Bulk Shipping vessel / Credit: Eagle Bulk Shipping

The U.S.-based dry bulk shipowner Eagle Bulk Shipping said Wednesday it had bought two high-spec 2015-built scrubber-fitted Ultramax bulk carriers for $44 million.The vessels, which will be renamed the M/V Antwerp Eagle and M/V Valencia Eagle, are of the SDARI-64 design and were constructed at Jiangsu Hantong Ship Heavy Industry Co. The company expects to take delivery of both ships during the third quarter of 2021.Eagle Bulk Shipping said it would fund the acquisition will with cash on hand, which includes equity issued under the company’s ATM program.

02 Jul 2020

Thai Project Turns Fishing Nets into Virus Protection Gear

Illustration; An abandoned fishing net stuck on a tropical coral reef - Credit: whitcomberd/AdobeStock

Thai fisherman Anan Jaitang used to pile tattered nylon fishing nets on the beach after hauls of wriggling crabs tore them beyond repair, but most of the nets wound up in the sea, threatening to entangle turtles and choke coral reefs.Now, Anan and others have an alternative that's not only lucrative and environmentally friendly but will help Thailand battle the coronavirus pandemic.A new community-based project is paying small-scale fishermen 10 baht (32 cents) per kilogram of discarded nets…

29 Oct 2018

Antwerp Port Test Center for Drones by SAFIR Consortium

The SAFIR consortium, a group of 13 public and private organisations, has been selected by Single European Sky ATM Research Joint Undertaking (SESAR JU) to demonstrate integrated Drone Traffic Management for a broad range of drone operations in Belgium.Antwerp Port Authority said in a press release that  the goal of the SAFIR project is to contribute to the EU regulatory process for drones and drive forward the deployment of interoperable, harmonised and standardised drone services across Europe.The SAFIR consortium (Safe and Flexible Integration of Initial U-space Services in a Real Environment) consists of the following organisations: Unifly, Amazon Prime Air, Belgocontrol, DronePort, Proximus, the Port of Antwerp, Helicus, SABCA, Elia, High Eye, C-Astral, Tekever and Aveillant.

24 Jul 2018

TOP Ships Terminates ATM Program

TOP Ships, an international owner and operator of modern announced that, effective immediately, it is terminating the equity distribution agreement with Maxim Group LLC providing for the “at-the-market” equity offering program (ATM Offering).The international owner and operator of modern, fuel efficient "ECO" tanker vessels currently focusing on the transportation of petroleum products also announced that it is in discussions and has received indicative terms from financial institutions for the financing of the M/T’s Eco California, Eco Bel Air and Eco Beverly Hills, which are expected to be delivered in January, April and May 2019 respectively…

20 Jul 2018

Cochin Port to Roll-out New Cruise Terminal

A new Cruise Terminal having facilities to handle 5000 tourists will come up at Ernakulum Wharf of Cochin Port, India by February 2020. Cochin Port Trust has issued work order to the contractor today for commencing the construction of the new Cruise Terminal.The facilities inside the Terminal, having 2253sq mtrs area, would include passenger lounge, crew lounge, 30 immigration counters, 8 customs clearance counters, 7 security check counters, Wi-Fi, tourist information counter, duty free shopping, souvenir/artefact/curio shops, medical care, book store, mini conference hall, gaming zone, ATM/bank services, foreign exchange counter, cafeteria…

11 Oct 2017

A Business Park Made of Shipping Containers

Container King of Dallas has recently signed a deal with local developer Ron Sturgeon to build 38 innovative, eco-friendly, state-of-the-art commercial spaces made from shipping containers. Box Office Warehouse Suites is due to open in the Alliance commercial real estate area in Texas. Sturgeon explained the process: "We sandblast them, paint them nice and pretty, bring in a professional design firm, tastefully add paneling, floors, ceilings, windows, and carpeting, and before you know it you have industrial space perfect for small businesses, and the beauty of it all, besides being inexpensive, is its flexibility. If you need more space we simply attach another container and instantly your work space is doubled in size. "We see this as the future of construction," Sturgeon said.

05 Jul 2017

Seanergy Maritime Reports Q1 Results, Acquires Vessel

For the quarter ended March 31, 2017, Seanergy Maritime Holdings Corp generated net revenues of $13.3 million, a 90% increase versus the same period 2016. As of March 31, 2017, stockholders’ equity was $26.7 million and cash and cash equivalents, including restricted cash was $6.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “In March 2017, pursuant to our prudent fleet expansion plan, we agreed to acquire another modern Capesize vessel. The vessel recently commenced its 12-18 months’ time charter with a major European utilities company at a strong gross rate of $16,200 per day. The Partnership is expected to generate approximately $8.8 million of gross revenue, assuming the full 18 months employment.

12 Aug 2016

Euroseas Reports Loss

Euroseas Ltd has announced its results for the three and six month period ended June 30, 2016 as well as certain fleet updates. Total net revenues of $7.3 million. Net loss of $19.2 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $19.6 million or $2.42 loss per share basic and diluted. The results include an impairment charge of $14.0 million on our "Investment in joint venture". Adjusted net loss attributable to common shareholders1 for the period was $0.51 per share basic and diluted. An average of 11.4 vessels were owned and operated during the second quarter of 2016 earning an average time charter equivalent rate of $7,373 per day.

26 Dec 2014

7th World Travel Award for DP World

consecutive year, at the prestigious World Travel Awards 2014. As the opening of the ultra-modern third cruise terminal was inaugurated by its namesake, His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, over 300 top decision makers in global travel and tourism were gathering at the 21st World Travel Awards celebration hosted in Anguilla. Mina Rashid, now home to the “Hamdan Bin Mohammed Cruise Terminal”, the world’s largest single cruise facility, has been voted the World’s Leading Cruise Port, winning against some of the finest cruise port operators from around the globe, including Jamaica, Rio de Janeiro, South Africa, Mexico, Seychelles, USA, Portugal and Singapore.

24 Dec 2014

The OBA ShipCheck Fluids Analyzer

Privately held, American-based On-Site Analysis, Inc. (OSA), a manufacturer of high-tech, on-premise, automated fluids analysis equipment, has now expanded into the maritime industry with the introduction of the OBA ShipCheck, an on-board analyzer. With a physical footprint of just four square feet and weighing only 95 pounds, and using the same ASTM methods as outside labs, the OBA ShipCheck conducts diagnostic fluids analysis for marine engine lubricants, marine grease and gear lubricants, generators, hydraulics, air compressors, scrape down oils and many more fluids.

01 Apr 2014

AMSA Seeks Input from SAR Equipment Providers

The Australian Maritime Safety Authority (AMSA) made an announcement inviting input from potential service providers into the research phase of its Search and Rescue (SAR) Equipment Support Services Tender. AMSA outsources all SAR logistics, maintenance and training support services to a contractor, and its current contract will expire in 2015. Potential service providers who could offer equipment support and maintenance services for AMSA’s upcoming SAR Equipment Support Services Tender are encouraged to contact AMSA in writing to provide information about how they could deliver this service. The new SAR Support Service Contractor will be required to provide AMSA with part or all of a complete logistics…

23 Jan 2013

Crew Cashcard a Continuing Success

Image credit CrewCashCard

Over 100,000 seafarers currently committed to the CrewCashCard, with a total potential of 1.5-million more to come. CrewCashCard eliminates many well-known pain points for both ship owners and their respective crew. Immediate benefits are achieved from bypassing the traditional practice of cash payroll payment distribution at ports of call. Benefits for the seafarers include safety and better funds security, immediate availability of funds, electronic bill payments, money transfer services and access to cardholders’ services.

07 Sep 2012

Globe Wireless Announces CrewCash and ShipMoney

Globe Wireless announced an exclusive worldwide sales and marketing relationship with CrewCash, LLC (CrewCash), a payments company offering comprehensive prepaid solutions to the commercial maritime industry. CrewCash and ShipMoney is a new prepaid Visa® card program for captains and crew members. The program provides a very efficient and cost effective alternative to the delivery of currency to ships. It is based on reducing the number of cash deliveries and the amount of cash held onboard, thereby significantly reducing costs.

22 May 2012

Maritime Security & The Useless TWIC

Port workers in Wilmington, Del. become the first workers in the nation to enroll in the Transportation Workers Identity Credential (TWIC) program. (Port of Wilmington Photo)

Experience has clearly shown that the concept that the issuance of high-tech biometric transportation security cards, called the Transportation Worker Identification Credential or TWIC, could achieve these goals was fatally flawed from the beginning. With visions of al Qaeda terrorists lurking on US waterfronts and in the bowls of U.S.-flag vessels, Congress in 2002 included in the Maritime Transportation Security Act (MTSA) a requirement that unescorted access to secure areas in U.S.

06 Oct 2010

Tsakos Energy Navigation Quarterly Dividend

Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced that its Board of Directors has declared a regular quarterly dividend of $0.15 per share of common stock outstanding payable on October 26, 2010 to shareholders of record on October 22, 2010. The stock will trade ex-dividend on October 20, 2010. Including the above distribution, TEN will have distributed $8.475 per share in dividends to its shareholders since the Company was listed on the NYSE in March of 2002. The listing price was $7.50 per share taking into account for the 2-1 share split of November 14, 2007. In addition the Company announced the conclusion of the ATM program. The last trade of shares under the program was on May 3, 2010.

06 Aug 2010

Tsakos Energy Navigation Q2 Results

Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) reported results (unaudited) for the second quarter and first half of 2010. Revenues, net of voyage expenses and commissions, were $83.3 million in the second quarter of 2010 compared to $88.6 million in the second quarter of 2009 primarily reflecting a slightly smaller fleet. Despite improved rates for crude carriers, the Company's product carriers achieved lower rates than in the second quarter of 2009, as did its LNG carrier. On average, TEN deployed 45.0 vessels versus 46.0 vessels in the prior year quarter. Fleet utilization remained high at 97.8%, the same level as in the second quarter of 2009. The average daily time charter equivalent rate per vessel was $22,059 down from $22,890 in the 2009 second quarter.

29 Dec 2009

FESCO Transports 2014 Olympics Equipment

Photo courtesy Bradley Communications

FESCO Logistics, a provider of worldwide logistics services and a division of FESCO North America, delivered a 100-ton roadheader to Novorossiysk, Russia for transshipment to Sochi, Russia for construction of the site of the 2014 winter Olympics. The Alpine Miner ATM 105-IC is a boom-type roadheader of the 100-ton class. The piece of equipment is used for mechanized tunneling in hard and abrasive rock formations. The cargo was loaded onto a MAFI trailer, secured by 15 chain lashings, in Baltimore, Md.

28 May 2009

Dryships Completes “ATM” Equity Offering

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced the completion of the ATM Equity Offering in which the company raised gross proceeds of approximately $475m since commencing the offering pursuant to the prospectus supplement filed on May 7 2009. Merrill Lynch & Co. acted as sales agent in the offering. Following the completion of the program, the Company has approximately 257,645,000 common shares outstanding. George Economou, Chairman and Chief Executive Officer of the Company commented, “We have successfully completed our latest $475 million equity offering in market conditions where many established companies are struggling to raise capital.

03 May 2009

Dryships Reports 1Q Results

DryShips Inc. (NASDAQ: DRYS), a provider of marine transportation services for drybulk cargoes and offshore oil deep water drilling, announced its unaudited financial and operating results for the three month period ended March 31, 2009. For the first quarter of 2009, the Company reported a net loss of $101.8 million or $0.93 basic and diluted loss per share. Included in the first quarter results are a loss related to contract termination fees and forfeiture of vessel deposits of $166.2 million or $1.53 per share, a non cash gain of $8.7 million or $0.08 per share associated with the valuation of the Company’s interest rate swaps, amortization of stock based compensation of $9.3 million or $0.09 per share…

26 Mar 2009

Dryships 4Q & Year End Operating Results

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, announced its unaudited financial and operating results for the fourth quarter and year ended December 31, 2008. Financial Highlights: For the fourth quarter of 2008, the company reported a loss of $1.02 billion or $18.42 per share. Included in the fourth quarter results are a non-cash loss of $700.5 million or $12.68 per share related to the impairment of goodwill associated with the acquisition of Ocean Rig ASA, a loss related to contract termination fees and forfeiture of vessel deposits of $160.0 million or $2.90 per share, a non cash loss of $177.0 million or $3.20 per share associated with the valuation of the Company’s interest rate swaps…

04 Jan 2001

Festival Cruise Signs With MTN

Maritime Telecommunications Network, Inc. (MTN) signed a five-year agreement with Festival Cruises, Inc., effectively equipping the company's next two newbuilds, European Vision and European Dream, scheduled to be delivered from Chantiers de l'Atlantique in France, in 2001 and 2002, with MTN's telecommunications technology. MTN will provide onboard telecommunications services via C-band service, providing voice, fax and data capabilities. Additionally, MTN's complete maritime solution includes, but is not limited to providing phone cards, Internet access, Automated Teller Machines (ATM's), Ocean Routes and Weather News. David Kagan, president and chief operating officer of MTN…

21 Aug 2002

Xantic and Faslink To Provide Online Banking to The Philippines

Xantic has announced the signing of an agreement with Faslink Communications. Xantic will contribute satellite airtime and business support to Faslink, which is providing a new generation of communication facilities to banks and financial institutions across the Philippine archipelago. Faslink Communications provides complete end-to-end turn-key solutions to the banking industry. Working in partnership with Xantic, Faslink is now able to offer financial institutions in The Philippines a solution based on Global Area Network (GAN) terminals, with Mobile Packet Data Service (MPDS) capabilities. This will provide the missing link to banks located in rural areas, where the current communications infrastructure is neither economical nor reliable.

04 Sep 2001

Benthos Granted Small Business Technology Transfer

Benthos has been awarded a Phase 1 Small Business Technology Transfer (STTR) contract with the Office of Naval Research to develop underwater transport of video imagery from remote, autonomous sensor systems to distant human observers. The technology is based on the Benthos ATM 885 acoustic modem, combined with innovative, wavelet-based image compression and with the EMATT (Expendable Mobile ASW Training Target) vehicle built by Sippican, Inc.