Navios Maritime Closes $35M Offering
Owner and operator of container and dry bulk vessels Navios Maritime Partners L.P. has closed the previously announced offering of approximately 18.4 million common units at $1.90 per common unit, raising approximately $35.0 million of gross proceeds. Navios Partners will use the net proceeds of the offering for general working capital purposes, including vessel acquisitions. Following the closing, Navios Partners will have 167,589,764 common units and 3,420,203 general partner units outstanding.
BSEE Responds to Oil Platform Fatality in the GOM
The Bureau of Safety and Environmental Enforcement is conducting an investigation into the fatality of a platform worker in an area of the Gulf of Mexico known as West Cameron 215A, about 64 miles south of Lake Charles, Louisiana. The offshore oil and gas operator, Energy Resource Technology GOM, LLC, a subsidiary of Talos Production LLC, reported that the fatality occurred at approximately 10:30 am on Feb. 17, 2018. The deceased worker was involved in replacing firewater piping at the time of the incident. No other personnel were harmed. There was no pollution as a result of the incident.
P&R Water Taxi Signs with MobileOps
MobileOps, Inc. has signed a deal with P&R Water Taxi, LLC, a vessel operator in the Hawaiian Islands. The MobileOps Platform is a cloud-based subscription solution that includes both a Web Application and an offline-capable iPad application called Voyager.
BAE System Wins Ship Repair Navy Contract
BAE Systems Jacksonville Ship Repair LLC, Jacksonville, Florida, is being awarded a $9,613,062 firm-fixed-price contract for dry-dock selected restricted availability repair work onboard USS Philippine Sea (CG 58). The work consists of dry-docking, structural and tank repairs, propulsion system repairs, ventilation and auxiliary system repairs, temporary services, habitability preservations, structural preservations, ship alterations and miscellaneous repairs. This contract includes options which, if exercised, would bring the cumulative value of this contract to $71,892,174. Work will be performed in Jacksonville, Florida, and is expected to be completed by March 2019.
USCG Approves Meridian Global Consulting as TPO
The Towing Vessel National Center of Expertise (TVNCOE) posted on its website February 2, 2018, that the U.S. Coast Guard has approved Meridian Global Consulting, LLC as a third-party organization (TPO) to carry out certain functions in accordance with Subchapter M. The current list of all Subchapter M approved TPOs is maintained on TVNCOE’s TPO webpage. In accordance with 46 CFR 139.110, classification societies that are recognized and/or authorized meet the requirements of a TPO.
New CEO Takes the Helm at Intermarine
Project, breakbulk and heavylift cargo transporter Intermarine, LLC said its president and CEO, Al Stanley, has stepped down to pursue other opportunities. Stanley was succeeded by Andre Grikitis, who assumed the role of President & CEO of Intermarine, LLC and Industrial Maritime Carriers, LLC and is responsible for the international flag services. Additionally, Will Terrill has assumed the role of president and CEO of US Ocean, LLC and is responsible for the company’s U.S. Flag services.
Frasher Takes Head of Helm at American Commercial
Stephen A. Frasher has been appointed president and CEO of American Commercial Barge Line LLC as well as CEO of Jeffboat LLC, Louisiana Dock Company LLC and American Commercial Terminals LLC. With 31 years of experience in the transportation industry, most recently as president and CEO of Tidewater Holdings, Frasher’s hiring is part of a management transition plan for the retirement of Michael C. Hagen, who plans to step down at the end of October.
Bollinger Gets Safety Awards from SCA & NSC
Bollinger Shipyards, Inc. has received awards for Excellence in Safety, Improvements in Safety, and Occupational Safety awards from two industry groups. The Award for Excellence in Safety and the Award for Improvement in Safety for 2009 were presented to Bollinger by the Shipbuilders Council of America (SCA). The awards were received during the association’s April 26-28, 2010 general membership meeting held in Washington, D.C. The Award for Excellence in Safety is given to member companies who have an end-of-year Total Recordable Incident Rate (TRIR) that is below the average SCA rate.
Intelsat Proposes Public Offering of Common Shares
Intelsat Global Holdings S.A. announced that it has commenced the distribution of preliminary prospectuses in anticipation of its proposed initial public offering of 21,739,130 common shares and proposed concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares (the "Series A preferred shares"). The offerings are being made pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission. The company has granted the underwriters in the initial public offering of common shares a 30-day option to purchase up to an additional 3,260,869 common shares. The company has granted the underwriters in the public offering of Series A preferred shares a 30-day option to purchase up to an additional 450…
Rand Logistics Files for Chapter 11 Bankruptcy
Rand Logistics Inc, one of the largest bulk freight shipping providers in the Great Lakes region, filed for Chapter 11 protection on Tuesday after agreeing to a debt-for-equity swap with lender Lightship Capital LLC. Rand, with $236 million of debt, said in November it would file for bankruptcy as part of a restructuring support agreement with Lightship, an affiliate of New York-based private equity firm American Industrial Partners.
Maritime Safety Awards Announced
On July 29, 2013, The American Equity Underwriters, Inc. (AEU) presented the 2012 Safety Awards at the annual American Longshore Mutual Association (ALMA) Conference in Punta Cana, Dominican Republic, where Coach Gene Stallings was the keynote speaker. The awards are given each year to the best performing ALMA members nationwide and are based on the number of accidents and the severity of accidents for the calendar year. The award is an acknowledgement that these companies are leaders in the most important aspect of business operations - protecting employees from injury or death.
ABS Elects New Council and Committee Members
• Angeliki N. • Michael Wyllie, Offshore Energy Development Corporation/SBM Offshore N.V. • William T. • Capt. • Dr. Bo Cerup-Simonsen, A.P. • Joseph J. • Soli Engineer, Executive Director, Great Offshore Ltd. • RADM Philip H. Greene, Jr., Superintendent, U.S. • Hiroshi Kato, President, Toyo Shipping Line Co., Ltd. • Naresh Kumar, Chairman & Managing Director, Deepwater Drilling & Industries Ltd. • Lee, Jai-Seong, President & CEO, Hyundai Heavy Industries Co., Ltd. • VADM H. S. Malhi, AVSM, VSM, Chairman & Managing Director, Mazagon Dock Ltd. • John “Jack” D. • Ted C. • Capt.
Tidewater Names Rynd President, CEO
Tidewater Inc. (NYSE: TDW) appointed John T. Rynd as the company's new President and CEO and a member of the Board of Directors effective March 5. He replaces Larry T. Rigdon who has served as interim President and Chief Executive Officer since October of 2017. Tom Bates, Chairman of the Board of Directors, said "After completing a comprehensive search, the Board is very pleased to welcome John to the team. He brings with him considerable experience in the offshore drilling services sector and the global oil and gas industry as a whole. Rynd previously served as Chief Executive Officer and President, and as a director of Hercules Offshore from 2008 through 2016.
Patriot: 20 Years in Ship Management
Patriot Contract Services, LLC (PCS) is celebrating the 20th anniversary of its operations as a completely U.S.-owned ship management company. During the past 20 years PCS and its affiliate American Ship Management, LLC have provided ship management and other maritime services to valued customers such as the Military Sealift Command (MSC), the U.S. Maritime Administration (MARAD), American President Lines (APL) and Schuyler Lines Navigation Company, while Patriot Maritime Compliance, LLC has provided expert regulatory guidance to both U.S. flag and international clients.
Babcock & Brown to Acquire Bluewater Wind
International investment firm Babcock & Brown (ASX: BNB - News), announced it has entered into a definitive agreement to acquire Bluewater Wind Delaware LLC and its parent holding companies, including Bluewater Offshore Holdings LLC and Bluewater Wind Holdings, LLC, in an effort to expand its portfolio of wind energy projects and contribute to its goal of developing offshore wind. Hunter Armistead, head of Babcock & Brown's North American Energy Development Group added that Bluewater will continue with negotiations with Delmarva Power toward executing a Power Purchase Agreement (PPA), in a process that is being overseen by the Delaware Public Service Commission and three state agencies. [Source: PRNewswire]
GEA Westfalia Separator Signs With Separator Spares & Equipment, LLC
Separator Spares & Equipment, LLC announced an authorized distributor agreement with GEA Mechanical Equipment US, Inc. (GEA Westfalia Separator Division) for the Gulf Coast region. Effective immediately, Separator Spares & Equipment, LLC will be providing GEA Westfalia high-speed separator equipment, spare parts, and support throughout the Gulf Coast region. This strategic alliance will provide GEA Westfalia Separator’s customers a local representative on the Gulf Coast. “I’m extremely excited about working with GEA Westfalia. This agreement gives us a solid partner in providing solutions for our customer’s purification needs.” said Mervyn LeBlanc, Director of Separator Spares & Equipment, LLC.
The Return of U.S. Underwater Services
Benford Capital Partners LLC and Coppermine Capital LLC acquired the assets of Neptune Underwater Services (USA) LLC, the U.S. diving business of Neptune Marine Services Limited (“Neptune”), in a newly-formed entity, called U.S. Benford Capital and Coppermine, in partnership with the Company’s management team, are acquiring the business for the second time, after selling it to Neptune in 2007. The name U.S. Underwater Services, the Company’s brand prior to Neptune’s involvement, was chosen to capitalize on its t reputation for quality, service and reliability. Based in Mansfield, Texas, and operating out of a 50,000 square-foot facility, U.S.
Hercules Offshore Acquires Two Jack-up Rigs
Hercules Offshore, LLC, a leading jack-up drilling and liftboat contractor in the Gulf of Mexico, announced today the acquisition of two jack-up rigs in separate transactions. On January 4, 2005, Hercules Drilling Company LLC, a subsidiary of Hercules Offshore, LLC, completed the acquisition of Rig 25J from Parker Drilling Offshore USA, LLC, a subsidiary of Parker Drilling Company. Rig 25J is an independent leg cantilever jack-up capable working in water depths of 200 feet. On January 13, 2005, Hercules Drilling Company completed the acquisition of the Odin Victory from Porterhouse Offshore L.P. The Odin Victory is a mat- supported jack-up capable of working in water depths of 250 feet.
TY President John Dane lll Workboat Show 2012 Keynote Speaker
John Dane III, President and CEO of TY Offshore, LLC & Trinity Yachts, LLC delivers 'Shipyard Day' show keynote speach. The show's 'Shipyard Day' keynote address is from John Dane III, President and CEO of TY Offshore, LLC and Trinity Yachts, LLC, during the 2012 International Workboat Show in New Orleans, Louisiana. John Dane's TY Offshore, currently builds offshore supply vessels, patrol craft, tug boats, oil skimmers and inland oil tank barges, while Trinity Yachts is one of the world's leading builders of megayachts to 330 feet. Both Trinity companies share two shipyards—in Gulfport, Mississippi and New Orleans, Louisiana—and employ 650 personnel and 200 subcontractors.
Horizon Lines of Guam to Begin Micronesia Service
Horizon Lines, LLC initiated a new service to the Federated States of Micronesia and the Republic of Palau under the carrier's subsidiary company, Horizon Lines of Guam, LLC. The new service starts January 15th. Horizon Lines of Guam offers through bills of lading for service between Chuuk, Pohnpei, Kosrae, Yap and Palau and the United States. Shipments between the U.S. and Guam, Tinian and Rota will continue to be booked with Horizon Lines, LLC. The new offering will utilize Horizon Lines, LLC vessels for service between U.S. mainland ports and Guam. FSM Line will provide service between Guam and Chuuk, Pohnpei and Kosrae and Western Pacific Shipping for service between Guam and Yap and Palau.
ZF Marine Names New Segment Manger
ZF Marine has appointed Tim McFarland as Aftermarket Segment Manager. McFarland joined ZF Marine LLC in 1997 as an Inside Technical Representative and most recently was Senior Aftermarket Center Manager. In his new position McFarland will have full responsibility for ZF Marine LLC’s parts and service business in North and Central America, and the . He will also oversee the operation of ZF Marine LLC’s nine wholly owned service facilities that provide ZF component factory support for vessel operators throughout the , including and . McFarland replaces Gary Nelson, who will retire from ZF Marine LLC at the end of 2008. Currently based at ZF Marine’s , , service facility, McFarland will relocate to the headquarters.
Terra-Marine Security Ops from Yemen
In late January of 2009, HP Terra-Marine International, LLC, sister company of HollowPoint Protective Services, LLC, successfully established a firm agreement and licensing from the Yemen government. As a result, HP Terra-Marine International, LLC, is now operating from several strategic Yemeni ports along the Gulf of Aden and Red Sea. These bases in Yemen allow the company to provide professional armed security personnel for onboard vessel security through the east-west route in the Gulf of Aden. HP Terra-Marine International, LLC, now provides transport by boat of security personnel to and from the client’s vessel offshore from the company’s ports of operation. (www.hollowpointprotection.com)
Amsec Wins Navy Contract
Northrop Grumman Corporation (NYSE:NOC) subsidiary Amsec LLC has been awarded a contract by the U.S. Navy for Shipyard, Ship Alteration Installation and Marine/Mechanical Engineering Design Services. Amsec LLC, a wholly-owned subsidiary of Northrop Grumman Shipbuilding sector, is a full-service provider of engineering, logistics and technical support services to the U.S. Navy and maritime industry. "This contract is an important win for Amsec LLC and continues 28 years of ship alteration and engineering support with Norfolk Naval Shipyard," said Harris Leonard, vice president of Northrop Grumman Shipbuilding. Amsec LLC was one of several contractors awarded an indefinite-delivery, indefinite-quantity, cost plus fixed fee contract with provisions for firm fixed pricing.