Coast Guard Responds to Ship Collision
The U.S. Coast Guard is investigating the cause of a collision between two ships that occurred at the IMTT Myrtle Grove facility near Point A La Hache, La. The collision occurred between the Heidelberg Express, a 773-foot German container ship, and the Yerot Sakos, a 737-foot Liberian cargo ship full of iron ore. The Heidelberg Express experienced a loss of power when traveling outbound at mile marker 57 along the Lower Mississippi River, and the crew of the Heidelberg Express dropped both anchors in an attempt to stop the vessel. There were no reports of injuries or pollution at the time of the incident and the waterway remains open and unrestricted. Investigators from Coast Guard Sector New Orleans are on scene to investigate the cause of the collision.
Macquarie to Control IMTT
Macquarie Infrastructure Co LLC said it would buy the 50 percent stake in liquids storage provider International-Matex Tank Terminals (IMTT) that it does not control for $1.03 billion in cash and stock. Macquarie, which owns half of IMTT since 2006, said it expects the deal to add to its free cash flow this year given "a number of opportunities" to implement better expense controls and processes at the liquids storage provider. Macquarie said it would pay $910 million in cash and the rest in stock to buy out the remaining stake from IMTT's founding Coleman family, at least three of whom are expected to retire after the deal closes later this month.
Coast Guard Reopens Mississippi Following Collisions
Coast Guard Captain of the Port, New Orleans, informs that the Mississippi River has been re-opened to all traffic transiting around the International Matex Tank Terminals (IMTT) between mile marker 96 and mile marker 98. The disabled vessel, Flag Gangos, is no longer impeding traffic. The slow-bell requirement is still in effect in the vicinity of the IMTT facility. Late Tuesday watchstanders with Coast Guard Sector New Orleans command center received a report that the Maltese…
Manitowoc Announces Closing of National Crane Facility
The Manitowoc Company, Inc. announced today that it will close its National Crane boom-truck manufacturing facility in Waverly, NE and will move production to the company's facility in Shady Grove, PA. Both facilities were acquired when Manitowoc purchased Grove Worldwide last year. The closing is expected to take place by the end of 2003. The transfer of production will improve long-term utilization and productivity given the advanced systems already in place at Shady Grove. Proceeds from the sale of assets are expected to equal or slightly exceed the after-tax costs associated with the move. These costs will primarily be reflected as an adjustment to the purchase price of Grove Worldwide.
Coast Guard Monitors Oil Recovery Ops near Bayonne, NJ
Coast Guard crews are continuing to monitor oil recovery operations (ORO) in the water near the International-Matex Tank Terminal (IMTT) Bayonne, New Jersey, Monday. Watchstanders at Coast Guard Sector New York received notification at approximately 10 p.m. Saturday from IMTT crewmembers of an oil spill as a result of an allision between a tug and a fuel terminal pier. The Coast Guard immediately launched members from the Sector New York Pollution Response Team to investigate. A Coast Guard HH-65 Dolphin helicopter crew from Coast Guard Air Station Atlantic City, New Jersey, also responded.
Manitowoc To Acquire Grove Worldwide
The Manitowoc Company, Inc. announced today that it has executed a definitive agreement to acquire Grove Worldwide, a leading manufacturer of mobile hydraulic cranes and truck-mounted cranes. The acquisition, valued at approximately $270 million, will be funded by a combination of cash and approximately two million shares of Manitowoc common stock based on current market prices. “Grove enhances our market-leading positions, represents a strong growth opportunity for our crane segment, and fills a product void by adding mobile cranes to our product offering. Equally important, we now can provide equipment and lifting solutions for virtually any construction application.” said Terry D. Growcock, Manitowoc’s president and chief executive officer.
GE Receives BV Certification
GE Transportation’s marine business has received type approval certification from Bureau Veritas (BV), Paris, France, for its family of Electronic Fuel Injected (EFI), medium-speed diesel engines. “The BV type approval certifies that our 8, 12 and 16 cylinder engines are manufactured with high quality at GE’s Grove City, Pennsylvania facility,” said John Manison, manager of GE Transportation’s marine business in Erie, Pa. “Over the past several years, we have earned BV, American Bureau of Shipping and Germanischer Lloyd type approvals for our diesel engine family. Couple these quality certifications with many cost-saving features such as electronic fuel injection, and customers are offered significant benefits when using our engines,” Manison added.
ABS Prepares For Anticipated LNG Growth
With the global LNG (liquefied natural gas) market forecast to double in size over the next decade, industry is readying to provide ample liquefaction capacity to meet demand. In the United States alone, LNG imports reached 4.9 million tons in 2000, about 5 percent of the global LNG trade, and up from 3.4 million tons in 1999. Drivers for the rapid LNG growth include continued demand for a cleaner-burning fuel and the need to bring "stranded" gas from deepwater and remote areas to market. Concern over long-term U.S. gas supply; a larger number of new supply projects; and lower LNG infrastructure costs from a decade ago also are contributors to the LNG growth spurt in recent years. But perhaps the reality of Sept.
AMSA GM Elected Chairman of IMO's Safety Committee
The Australian Maritime Safety Authority’s (AMSA) Navigation Safety and International Relations General Manager Brad Groves has been elected as Chairman of the International Maritime Organization’s (IMO) Maritime Safety Committee for 2016. The election was conducted on 11 June, 2015 during the 95th session of MSC at the IMO’s headquarters in London. The Maritime Safety Committee (MSC) is the International Maritime Organisation’s (IMO) senior technical body on safety-related matters, and the appointment is a major achievement in the maritime industry.
Grove Appointed ABS Americas President
ABS has named Todd Grove President of its ABS Americas Division effective May 1, 2004. He will replace Robert E. Kramek who, as previously announced, will assume the role of President and Chief Operating Officer of ABS at that time. Grove currently serves as Vice President Western Region, ABS Europe. In his new role he will be located at the Americas’ Division headquarters in Houston, Texas. He will have operational responsibility for all ABS classification activity in North, Central and South America.
Coast Guards Respond to Tug
Coast Guard crews are currently responding to a distress call from the 135-foot tugboat, Valour, towing a 500-foot barge loaded with approximately 140,000 barrels of petroleum by-product 37 miles off the coast of Cape Fear, N.C. The Valour radioed the Coast Guard for help on Tuesday because they had a crewmember fall overboard, and their vessel was taking on water. A rescue helicopter from Air Facility Charleston launched to assist, and upon arriving at the scene they rescued one crewmember and transported him to Myrtle Beach Hospital, S.C. The remaining crewmembers stayed with the struggling vessel until the Justin Fox, a 125-foot tugboat in the area, arrived on scene.
Ranger Tugs Delivers 100th R29
Wefings Marine Celebrates Sale of the First and 100th R29. Ranger Tugs is pleased to announce the delivery of the 100th Ranger Tug 29 to her new owners. The 100th boat was sold by Marc Grove, owner of Wefings Marine, the Apalachicola, Florida-based Ranger Tugs dealer. Marc was also responsible for the sale of the first R29 in 2009 which was also Wefings Marine’s 100th anniversary year. The R29 was introduced in 2009 and has remained a popular model of the trailerable trawlers since her debut. Marc sold the 100th hull at the 2011 Ft.
Jungle Princess Completed for Great American Riverboat Cruises
The passenger vessel, Jungle Princess, was recently completed for Great American Riverboat Cruises, Myrtle Beach, S.C. The vessel features a tropical jungle theme for both interior and exterior, including real and painted palm trees, and exterior sides painted with tropical birds, monkeys, and the jungle theme. Design and Engineering services were provided by DeJong & Lebet, Inc. Naval Architects, Jacksonville, Fla. The vessel was partially completed at Freeport Shipbuilding, with the deckhouse and other items completed by the owner in Myrtle Beach. The Jungle Princess measures 64 x 24ft., and is U.S. Coast Guard certificated under Subchapter T. She features two enclosed passenger decks, with a Third Level open passenger deck, as well as the pilothouse.
Manitowoc Crane Group to Develop Manufacturing Facility in Slovakia
The Manitowoc Company, Inc. has reached an agreement with Valcovna profilov a.s. for the development of a crane manufacturing facility in Saris, Slovakia. The facility, which will be refurbished and re-equipped, will serve as the final manufacturing and assembly site for Grove, Potain, and Manitowoc cranes being delivered to customers in East European markets, particularly in Russia and the CIS. The company expects to begin production from the Saris facility in late 2007. Financial terms of the transaction were not disclosed, but Manitowoc is revising its 2007 capital expenditures guidance from $70 million to $85 million for the full year as a result of this acquisition and other capacity initiatives in its Crane Group.
Manitowoc Revenue Up 36%
The Manitowoc Company, Inc. announced its results for the third quarter ended September 30, 2002, posting a 36 percent increase in revenue to $409.9 million compared to $301.0 million for the same period last year. Earnings rose 18 percent to $14.7 million or $0.57 per diluted share. This compares to $12.4 million or $0.51 per diluted share for the third quarter of 2001. The company also reported strong cash flow of $51.8 million for the quarter. “While lower crane sales dampened our earnings during the quarter, our Foodservice and Marine segments posted results in-line with our expectations,” said Terry D. Growcock, Manitowoc’s chairman and chief executive officer.
Bollinger Builds Diverse Portfolio
The task of picking just one Bollinger Shipyards-built vessel to feature as a "Great Boat" is a nearly impossible task. Plainly stated, the boatbuilder is so active in such a diverse number of niches, it is impossible to select one as better than the other, given some of the groundbreaking vessels built in 2002. The editors of MarineNews have, hence, selected a two vessels for this focus: the liftboat L/B Myrtle; the shelf boat Ms. Another example of Bollinger Shipyards' ability and willingness to integrate customer demand into its new products is the new Super Shelf Boat, Ms. Sara Jane. When MNM Boats, the operating division of C&G Boats…
ABS New Management in Europe, Asia
Effective 1 July, ABS will introduce new senior management in its Europe and Pacific divisions. At that time, William J. Sember, currently President and COO, ABS Europe Ltd, based in London, will return to Houston as Vice President Global Marketing, responsible for further developing client relations in all sectors. Todd Grove, President and COO of the Pacific Division of ABS will move from Singapore to London, assuming the position of President and COO, ABS Europe Ltd. “Europe remains the center of our shipowner client activity,” said ABS Chairman and CEO Robert D. Somerville. Grove has previously served as President of the Americas Division of ABS and, prior to that, as Vice President Western Europe, based in London.
Manitowoc Announces Offering of Senior Subordinated Notes
The Manitowoc Company, Inc., announced its intention, subject to market and other conditions, to raise approximately $175 million, through a private offering of senior subordinated notes due 2012 to certain qualified institutional investors. In addition, Manitowoc’s obligations will be guaranteed by certain of its U.S. subsidiaries. Manitowoc will use the net proceeds from the sale of the notes offered to refinance outstanding indebtedness of Grove Investors, Inc. and its subsidiaries. Manitowoc previously announced its agreement to acquire Grove.
Grove Named ABS Group President, CEO
ABS Group of Companies, Inc. announced the appointment of Todd Grove as its new President and CEO. Grove most recently served as Senior Vice President and Chief Technology Officer for ABS Group's parent company, American Bureau of Shipping (ABS). He has served more than 30 years at ABS, in various senior technical and operational management roles across the world. Grove holds a bachelor's degree in Naval Architecture and Marine Engineering from the University of Michigan, an MBA from the University of Houston and is a graduate of the Harvard Business School's Advanced Management Program.
ABS Establishes China Offshore Technology Center
(Houston, TX---) ABS, the leading provider of classification services to the global offshore industry, announces the establishment of the ABS China Offshore Technology Center (COTC) in partnership with Shanghai’s Jiaotong University (SJTU). The focus of the center will be on new technology research for offshore facilities. While the research efforts will support development activities in the Greater China region, applied research will also be conducted on a wide range of oil and gas development issues.
GE Diesel Engines for Pesquera Diamante
GE Transportation, in conjunction with its distributor Marinsa Peru, S.A., will supply Pesquera Diamante S.A., in Peru, with 7FDM medium-speed diesel engines. The engines will be used to power newly constructed boats and to repower Pesquera Diamante's entire fleet of purseine net fishing boats. GE will deliver 8-cylinder units rated at 1,400 brake horsepower (bhp) and 12-cylinder models rated at 2,000 bhp. New vessel construction and repowering of the Pesquera Diamante fleet has already begun, and will continue over a four-year period. All the diesel engines will be manufactured at GE's Grove City, Pa., facility. Several of the engines for Pesquera Diamante will be shipped in 2005, while the remainder will be delivered over the next four years.
Manitowoc Reports Second-Quarter Results
The Manitowoc Company, Inc. has reported net sales of $433.7 million for the second quarter of 2003, increasing 32 percent from $328.3 million during the same period last year. The company also reported net earnings of $1.3 million, or $0.05 per diluted share, compared with net earnings of $20.1 million, or $0.81 per diluted share, in the second quarter of 2002. Excluding special charges totaling $10.8 million ($7.6 million net of tax), second-quarter earnings were $0.33 per diluted share, in line with the preliminary estimate announced earlier this month. A reconciliation of earnings per share from reported GAAP amounts to non-GAAP amounts is included later in this release. The sales growth came as a result of the Grove acquisition.
Bender Shipbuilding Awarded Contract on Navy Frigate
Congressman Sonny Callahan announced that Bender Shipbuilding & Repair Co., Inc. recently signed a contract for the drydocking and repair of the USS Stephan W. Groves (FFG 29). The Groves is an Oliver Hazard Perry Class Guided Missile Frigate homeported in Pacagoula, Miss. The vessel’s overhaul is being managed by the Supervisor of Shipbuilding, Conversion and Repair in Pascagoula for the Department of the Navy. The Groves will arrive at Bender on July 31 for a drydocking scheduled in early August and completion in mid-November. The work package includes drydocking, hull, machinery, electrical, electronics and piping repairs with a contract value of $8 million plus optional items which could result in an additional $1.5 million. The job will require 125 workers.