Marine Link
Wednesday, January 17, 2018

Board Approves News

GlobalSantaFe Board Approves Quarterly Cash Dividend

GlobalSantaFe Corporation announced that its board of directors has approved a regular cash dividend of $0.05 per ordinary share. This dividend is payable on January 15, 2004, to shareholders of record as of the close of business on December 31, 2003.

South Carolina Ports Container Volume Up by 13%

Port operation underway

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,970 twenty-foot equivalent units (TEUs) in August, in increase from 144,649 TEUs moved during the same month last year and 153,916 handled in July. Fiscal year to date, SCPA container volume is 12.2 percent ahead of plan. As measured in pier containers, July and August volumes are up 13.5 percent year over year. SCPA moved 93,221 boxes in August for a total of 181,103 pier containers to date in FY2015.

Pipavav Shipyard Fund Raising Plan

According to an April 7 report from Bloomberg, Pipavav Shipyard rose 1.62% to Rs 78.60 at 13:47 IST on BSE after the company's board approved raising up to Rs 178 crore by issuing convertible debentures on preferential basis. (Source: Bloomberg)

Carnival Pays Quarterly Dividend, Appoints New Director

Carnival Cruise Liner: Photo credit Wiki CCL 'Rapidfire'

At the annual shareholders meeting of Carnival Corporation & plc  held in Miami Beach, Fla., shareholders elected a new member to the company's board of directors – Debra Kelly-Ennis, president and chief executive officer of Diageo Canada, Inc. Kelly-Ennis will serve in a non-executive capacity on Carnival Corporation & plc's 14-member board, effective immediately. Carnival Corporation & plc's board of directors also approved a quarterly dividend to holders of Carnival Corporation common stock and Carnival plc ordinary shares of $0.25 per share.

SC Ports to Invest US$123-Million in 2014 Plan

South Carolina Ports Authority (SCPA) Board of Directors approve its fiscal year 2014 financial plan. During its regular monthly meeting, the Board approved the SCPA's fiscal plan for the coming 12 months. From July 1 to June 30, capital spending of $123 million will fund major infrastructure investments such as the new container terminal at the former Navy Base, new equipment to handle the increased size of ships in the port as well as other upgrades to existing facilities. The largest single area of spending is for the South Carolina Inland Port in Greer, SC, with $29.1 million planned to cover the remaining SCPA share of the project. The new facility is slated for a September 2013 opening.

Jasper Ocean Terminal Budget Approved

The Jasper Ocean Terminal (JOT) board of directors met earlier this week to solidify a budget and work plan for FY2016 as well as review work completed during the 2015 fiscal year. The board approved a 2016 fiscal year budget that includes accomplishing further studies of the site design, sediment, access corridor and channel improvements necessary for the largest containerships, as well as efforts to recruit a third party required for completion of an environmental impact study. Cosponsors Georgia Ports Authority (GPA) and SC Ports Authority (SCPA) will each contribute $1.25 million to the FY2016 budget. “This was a watershed meeting for our board,” said board chairman David Posek.

ASRY Gains to Reach $6 Million

According to a Gulf Daily News report, the net profit of the Arab Shipbuilding and Repair Yard Company (ASRY) is expected to reach $6.4 million this year while the net operating income is projected to reach $106 million, compared with $93 million last year. The projections were made after the company's board of directors reviewed the results for the year 2005. The board met under the chairmanship of Eid Abdulla Yousif and was attended by representatives of shareholding countries. Also present was ASRY chief executive Mohammed Al Khateeb. A total of 144 vessels were repaired or booked for repair, most of which were large crude carriers.

Georgia’s Ports Increase Overall Tonnage

Georgia Ports Authority’s (GPA) Executive Director Doug J. Marchand announced that the GPA handled more than 2.2m tons of cargo for all terminals in August, a 4.4-percent increase, or an additional 94,765 tons of cargo compared with the same period last year. During the meeting of the Authority, the Board approved $21.9m to purchase 11 new rubber-tired gantry container cranes and $2.5m for new refrigerated container storage in Savannah. For , the Authority approved $2.2m to build 6,000 linear ft. of additional storage track to support the increased volumes of both automobiles and grain arriving in unit train shipments.

GlobalSantaFe Board Approves Cash Dividend

Houston-based offshore drilling contractor GlobalSantaFe Corporation announced that its board of directors has approved a regular quarterly cash dividend of $0.0325 per ordinary share. The dividend is payable on January 15, 2002, to shareholders of record as of the close of business on December 31, 2001. In connection with a recent merger, former Global Marine Inc. shareholders were mailed a transmittal form for the surrender of their common stock in exchange for GlobalSantaFe ordinary shares. Those shareholders who have not surrendered their common stock certificates and transmittal form for exchange by the payment date, will receive their dividend from the exchange agent when the shares are exchanged.

Tognum Has a New Major Shareholder

approximately 22% stake in Tognum AG – which it held through the company Seeker Rekees S.à r.l. – to Daimler AG. Daimler’s Supervisory Board approved the acquisition of this shareholding. Tognum AG. The entire transaction is subject to the approval of antitrust and other authorities. Tognum’s Board of Management welcomes this decision of Daimler and EQT. CEO Volker Heuer stated: “We are delighted that Daimler AG fully supports Tognum’s growth strategy – as a reliable business associate and now also as a strategic investor. corporate strategy focused on profitable growth and today’s independence. Less than one year after the initial public offering, the previously open question of what would happen to EQT’s remaining stake has been successfully resolved.

Capital Product Partners Buys Aframax

Photo: Capital Product Partners L.P.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

Record October for Savannah Port

Georgia Ports Authority achieved its busiest October ever for loaded containers, moving 251,566 loaded twenty-foot equivalent container units. (Photo Georgia Ports Authority  Stephen B. Morton)

Georgia Ports Authority Executive Director Griff Lynch reported to the GPA board Monday fiscal year to date growth of 4 percent for loaded container traffic, moving 1.01 million twenty-foot equivalent container units, an increase of 40,545 TEUs compared to the same period in 2015. In October, the GPA handled 251,566 loaded TEUs, an increase of 5,876 TEUs, or 2.4 percent, to set an all-time GPA record for the month. "I would like to thank our customers for their continued confidence…

NNS Board Approves General Dynamics Plan

Newport News Shipbuilding Inc.'s board voted to back the $2.1 billion takeover offer from fellow defense contractor General Dynamics Corp. over a rival offer from Northrop Grumman Corp. Newport News, a warship builder, said in a statement its board voted unanimously to recommend the company go with General Dynamics' offer after determining it did not have enough information regarding the positions of federal antitrust regulators and defense officials to take a position on the Northrop bid. Newport News and General Dynamics announced plans to combine in April. Northrop countered with its own offer for Newport News in May. Though structured differently, Northrop's offer is about equal to that of General Dynamics. - (Reuters)

B.C. Approves New Ferries

The B.C. government treasury board approved funding for three replacement ferries on its north coast routes on March 22, the same day Premier Gordon Campbell flew up to the site of the first-ever sinking of a BC Ferry. The Queen of the North sank after apparently hitting a rock at 12:43 a.m. Its 99 passengers and crew were safely evacuated to lifeboats and picked up within two hours by a Canadian Coast Guard vessel patrolling in the area. The incident took place in Wright Sound, after an 8 p.m. departure from Prince Rupert on the 274 km trip down the Inside Passage to Port Hardy. (Source: Peninsula News Review)

Great Lakes Dredge & Dock Declare Cash Dividend

Great Lakes Dredge & Dock Corporation declare a quarterly cash dividend on its common stock. The Board approved a $0.021 per share cash dividend, to be paid on September 14, 2012 to the holders of record of common stock of the Company at the close of business on September 7, 2012. Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. The Company owns a 50% interest in a marine sand…

Hyundai Asan Bails Out its Sister Firm

South Korea's Hyundai Asan Co, a unit of the Hyundai Group, said on Monday it would take over the group's loss-making tours to North Korea from its sister firm Hyundai Merchant Marine. "Hyundai Merchant Marine would not participate in our North Korean tour project in the future as the company had been under pressure from its creditors to pull out of it," a Hyundai official said. The official said Hyundai Asan could lease cruising ships from Hyundai Merchant Marine or pay the cruise operator for its ferry runs to North Korea's scenic Mt. Kumgang region. Hyundai Engineering's board approved on Monday morning Shim Hyun-young, president of Hyundai Engineering Plastic, as new president of the nation's largest builder.

MC Shipping to Sell LPG Tankers

Reuters reported that MC Shipping Inc. said its board approved the sale of six small liquefied petroleum gas tankers to a special purpose German KG company for $52m. The KG company is to be formed by the German finance house MPC Capital. The total book value of the vessels was $32.8 million as of Sept 30, the company said. MC shipping said in a news release it would charter back the vessels for a minimum period of four years and reinvest between $5 and $5.75m in the KG company for 25 percent of the equity. After repayment of a debt and the reinvestment, MC shipping said it will receive about $24 million as net proceeds. Source: Reuters

Volumes Up for Cleveland’s New Liner Service

The Port of Cleveland announced that its Cleveland-Europe Express, the dedicated monthly liner service that launched in April, had its best month to date in June. This start-up service doubled its revenues in June when compared to either April or May. “The Port of Cleveland is booming and we are very encouraged by the performance of the new Cleveland-Europe Express service, which is still in its infancy,” said William D. Friedman, president and CEO. “The large increase in volume in June bodes well for the remainder of the year as we continue to offer companies and shippers throughout the interior U.S. The Port’s traditional maritime and development finance services are also seeing increased demand and are forecasted to have a record year.

Relations Still Chilly At NY/NJ Port Authority

It may be the end of April, but there was no spring thaw at Thursday's board meeting of the Port Authority of New York and New Jersey. Port Authority commissioners had been expected to vote on a $3.9 billion capital and operating budget, which would have signaled some movement on an impasse that has held up major projects for the agency. However, Chairman Lewis M. Eisenberg said the budget had been discussed among board members, but a decision was made not to take a vote. No reason was given for the inaction. Board members have been paralyzed on the major items pending resolution of a 16-month dispute between New York Gov. George Pataki and New Jersey Gov. Christie Whitman over Port Authority revenues.

SC Ports Posts Earnings of $39 Mln

Photo South Carolina Ports Authority

Today South Carolina Ports Authority reported 2016 fiscal year-end operating earnings of $39 million, revenues of $211 million and operating expenses of $172 million. "The Port closed the FY2016 books with solid financials, reflecting our commitment to achieving the necessary performance to support our aggressive capital investment plan," said SCPA Board Chairman Pat McKinney. The positive financial report comes on the heels of FY2016 container volume growth reported last month.

Harvey Gulf Announces Plans for 3 New LNG-Powered Boats

new Harvey Gulf tonnage depiction

Initial deal worth $165 million; $300 million for 6 additional newbuilds and another $500 million for acquisitions also approved. Harvey Gulf International Marine announced Saturday that it will sign a deal for three LNG vessels to be built by Signal Shipbuilding. At a Harvey Gulf board meeting held on Satruday afternoon, the Louisiana-based operator's management team approved the $165 million deal, said Harvey Gulf International Marine Chairman & CEO, Shane J. Guidry. Guidry told MarineNews Editor Joe keefe…

Container Growth Up at GPA

Photo: GPA

Geargia Port Authority Executive Director Curtis Foltz reported a 16.6 percent calendar year to date increase in container volumes, as well as capital projects necessary for future growth. The Port of Savannah has moved 2.55 million twenty-foot equivalent container units since the start of the calendar year, an additional 365,097 TEUs. Twenty-foot equivalent container units grew by 4.4 percent (13,353 TEUs) in August alone, for a total of 315,175 TEUs. "The authority's policy…

Long Beach Weighs Offer for Hanjin Terminal

Photo: Port of Long Beach

The Long Beach Board of Harbor Commissioners will consider a proposal by a terminal investor to take over a majority stake in a long-term lease to operate the largest container terminal in the Port of Long Beach. If approved, the pact could bring in business to replace the cargo volume lost at Long Beach’s Pier T when South Korea’s Hanjin Shipping declared bankruptcy in August. Terminal Investment Limited (TIL), a subsidiary of the Mediterranean Shipping Co. (MSC), earlier this week announced it had signed an agreement to purchase Hanjin Shipping’s stake in the terminal operator at Pier T.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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