Directors News

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

At SAAM’s annual general meeting last week, Chairman Óscar Hasbún outlined the objectives for the company's new phase, following the sale of the port terminals and inland logistics division."SAAM has robust solvency and liquidity indicators and a solid capital structure for this new cycle where our objective is clear: to become a leading global operator in the towage business and a regional leader in airport logistics. We are already a benchmark in both businesses and have developed a unique operating model…

The International Association of Dry Cargo Shipowners (INTERCARGO) and RightShip have launched the Dry Bulk Centre of Excellence (DBCE), an independent, not-for-profit industry organisation dedicated to the administration of the Dry Bulk Management Standard (DryBMS) framework.DryBMS was developed by INTERCARGO and RightShip, with input from experts and stakeholders across the sector, as an industry tool to raise standards and best practices across safety, security, environmental performance, and social welfare in the dry shipping sector.

Construction on a new passenger ferry, designed by Incat Crowther for Western Australian ferry operator Rottnest Fast Ferries, has commenced at Austal Philippines.The new ferry will operate on the popular Perth to Rottnest Island tourism route with the 32-meter aluminum catamaran set to have an operational capacity of up to 400 passengers and five crew seated over three decks. The vessel will also feature extensive cargo and luggage space for passengers, including bicycle storage areas on the main and mid decks.

Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.Austal's shares rose 8.2% in early trade, while the Australian S&P/ASX200 index was flat.The…

ClassNK has carried out a regular reshuffle of its full-time executives, underlining its commitment to charting the maritime industry’s shift through a period of significant transformation. President & CEO Hiroaki Sakashita and Senior Executive Vice President (SEVP) Junichiro Iida continue in their current roles, while Executive Vice President (EVP) Hayato Suga is promoted to SEVP. Additionally, Dr. Toshiro Arima, Masaki Matsunaga, and Dr. Yoshiya Yamaguchi have been appointed as new EVPs.In his remarks…

For Cheryl “Cherrie” Felder, the path to the maritime industry was both untraditional and seemingly meant to be. After studying African art, she began her career working in a museum in New Orleans before landing a role directing professional rodeo in the Big Easy.“It was a lot of fun, and I learned a whole lot,” Felder said. “But as you may imagine, New Orleans is not a rodeo town. After the third year, the board of directors decided, okay, that's it. No more rodeo.”And that’s when Felder’s doorway to the maritime industry swung open…

The latest newbuild for the San Francisco Bay Ferry fleet has been commissioned. The high-speed passenger vessel Delphinus was built by Mavrik Marine in La Conner, Wash. as the second of four new Dorado class ferries. Design was completed by One2three Naval Architects and construction management services were provided by Aurora Marine Design.Vessel construction was funded through the Federal Transit Administration and the State of California’s Proposition 1B in collaboration with…

2024 marks another year for development of a biennial WRDA bill—Water Resources Development Act, critical legislation for the Nation’s waterways, ports and harbors. WRDA encompasses a range of issues, from environmental regs to energy use to agriculture and, of course, a focus on projects critical for economic growth.Because these are dynamic and timely issues, Congress and the maritime sector like to keep WRDA on a two-year reauthorization timeline. Indeed, the House Transportation & Infrastructure Committee, December and January, held three WRDA information hearings.

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

Industry trade group the Offshore Marine Service Association (OMSA) announced the addition of four CEOs to its board of directors.The new board members include Wes Bordelon, Chief Executive Officer, Bordelon Marine; Stacy Jo Stanley, Chief Executive Officer, Offshore Oil Services, Inc.; David Dantin, Chief Executive Officer, Odyssea Marine; and Lasse Petterson, Chief Executive Officer, Great Lakes Dredge and Dock."With the addition of these four executive leaders, OMSA pays homage to its roots while welcoming expanded opportunities in emerging energy frontiers…

SAAM reported net income of US$501 million in 2023, representing its best-ever results thanks to the sale of its port and logistics assets to Hapag-Lloyd, which generated a net gain of US$422 million.Sales for the year totaled US$540 million and EBITDA was US$160 million, surpassing the prior year by 17% and 9%, respectively."The sale of our port terminal and inland logistics operations leaves us in a solid position to move forward on the path we have set for ourselves: to lead the consolidation process in the towage industry and grow in air cargo logistics services.

Jeffrey G. Sipes has been named chief executive officer at engineering and construction firm S&B, parent company to naval architecture and marine engineering firm TAI Engineers.“S&B has a remarkable record of growth and success over the past sixty years, and we look forward to decades of further success. The markets we serve are changing, creating new opportunities for growth. Jeff is the leader who can successfully guide the company to capitalize on these opportunities. He brings extensive experience and a deep understanding of both S&B’s markets and the company’s distinctive capabilities…

A new stern trawler has been delivered to Deutsche Fischfang-Union GMbB & Co KG (DFFU) from Vard Brattvaag.The vessel, named Berlin, was developed by VARD in close cooperation with DFFU, based on the VARD 8 03 trawler design developed by Vard Design in Ålesund.Baldvin Thorsteinsson and Samuel Rodriguez, Managing Directors at DFFU said, "The delivery of Berlin is pivotal for DFFU, and VARD has done an excellent job. Over the years, VARD has built several technologically advanced vessels, consistently meeting the highest standard with their craftsmanship and innovation.

Viking Life-Saving Equipment A/S appointed Henrik Helsinghof as its new Chief Executive Officer, effective from June 1, 2024.The appointment follows the death of former CEO Henrik Uhd Christensen in January following a short illness. Helsinghof had previously been identified by Christensen and the VIKING Board of Directors as a possible successor.Helsinghof began his career in VIKING in 2006 as student assistant and remained with the company for 14 years, holding various positions, including Managing Director of VIKING Nadiro.

With a fleet of nine U.S.-flag RoRo ships, American Roll-On Roll-Off Carrier Group (ARC), is the U.S.’ premier commercial RoRo carrier of U.S. government and military cargo. As the world becomes an increasingly contentious place, Eric P. Ebeling, President & CEO, ARC, discusses the vast capabilities of the ARC fleet and logistics network, as well as the challenges and opportunities ahead for U.S.-flag ships in the international trade.By the numbers’ is a simplistic means to gauge the size and shape of any shipping company…

Stena RoRo announced it has taken delivery of the 10th vessel in its E-Flexer series from the CMI Jinling, Weihai Shipyard. The vessel, named Ala'suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate a ferry line in eastern Canada between Newfoundland and Nova Scotia.“We are very excited to welcome the Ala’suinu to our service,” says Gary O'Brien, Chair, Board of Directors, Marine Atlantic. “With a focus on reducing our environmental impact…

Aker Arctic, a Finnish engineering company specializing in the development of ice-going vessels, on Thursday announced it has appointed Mika Hovilainen as interim managing director and CEO following the departure of longtime CEO Reko-Antti Suojanen.Suojanen, who spent 19 years at Aker Arctic, including 10 as CEO, announced in December he would depart the company to explore new opportunities elsewhere.“I will pass the helm to Mika Hovilainen with good confidence. Mika has been working for a long time at Aker Arctic and has been leading our Ship Design activities…

In addition to his present and continuing role as managing director of SCHOTTEL Turkey, Seçkin Uz has been appointed managing director of SCHOTTEL’s sister company elkon.In his new position at elkon, Seçkin Uz will be dedicated to utilizing various synergies between propulsion specialist SCHOTTEL and electrical system integrator elkon. At the same time, he aims to strengthen elkon’s international growth and business development in the global maritime industry.Seçkin Uz succeeds Ertuğ Yaşar, who held this position for nine years.

Castor Maritime announced it has reached deals to sell two bulk carrier vessels to entities owned by a family member of Castor Maritime's chairman, CEO and CFO, Petros Panagiotidis.Under separate agreements signed January 19, 2024, the Cyprus-based company sold the 2010-built Panamax bulk carriers Magic Nova and Magic Horizon for $16.1 million and $15.8 million respectively. Both vessels are expected to be delivered to their new owners by the end of the first quarter of 2024.The deals' terms were negotiated and approved by a committee of Castor Maritime's independent directors…

Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.-flag tankers and articulated tug barges (ATB), on Monday confirmed its board of directors…

The Shipbuilders Council of America (SCA), the national association representing the U.S. shipbuilding, maintenance and repair industry, announced its new Board of Directors leadership and the incoming chairs of the SCA Partners Committee. The announcements kicked off the Association’s Annual Meeting on May 17 in Washington, D.C.Brad Moyer, Vice President of BAE Systems Ship Repair, is ascending from his Vice Chairman post to  Chairman of the Board, assuming the position from Ben Bordelon…

When people hear about underwater reefs, they usually picture colorful gardens created from coral. But some reefs are anchored to much more unusual foundations.For more than a century, people have placed a wide assortment of objects on the seafloor off the U.S. coast to provide habitat for marine life and recreational opportunities for fishing and diving. Artificial reefs have been created from decommissioned ships, chicken transport cages, concrete pipes, rail cars and more.We study how ocean-dwelling fish use artificial reefs in the U.S. and beyond.