Integrated Marine Transportation News

DNV has awarded an Approval in Principle (AiP) to HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and its subsidiaries HD Hyundai Heavy Industry (HD HHI) and Hyundai Mipo Dockyard (HMD) for their new hydrogen system.HD KSOE aims to complete the development of the hydrogen carrier technology that enables large-capacity hydrogen transportation and storage by around 2030.HD KSOE's new system utilizes boil-off gas from hydrogen transport for a hybrid propulsion system, integrating hydrogen dual-fuel engines and fuel cells.

Memphis, Tenn.-based Southern Towing Company (STC) said Tuesday it has acquired family-owned Devall Towing, in a deal that expands STC’s towing operations into specialty chemical products.Headquartered in Sulphur, La., Devall is a towboat and barge operator for specialty chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River, operating 36 towboats and 125 liquid tank barges.The combination of Devall’s operations with STC’s upriver capabilities allows Devall and STC to provide integrated marine transportation solutions across the Gulf Intracoastal and U.S.

American Commercial Lines presented Marine Environmental Stewardship Awards on Wednesday, July 16 in Houston, Texas, recognizing 35 customers for safe handling of chemicals, petroleum products and other liquid cargos. The customers recognized by ACL safely handled over two billion gallons of chemicals, petroleum products and other liquid cargoes with the barge transportation company in 2013. Recipients of the award are: Axiall Corporation; BASF Corporation; Bayer Corporation; Bunge North America…

Kirk & Co. were engaged to assess public & stakeholders opinions regarding measures to ameliorate BC Ferries financial operating losses. BC Ferries operates one of the largest integrated marine transportation networks in the world. Despite being comparable in efficiency with the world’s best services, rising costs and declining ridership have created a financial challenge for the corporation. BC Ferries lost more than $16 million in the fiscal year ending March 31, 2012. The independent BC Ferry Commissioner noted in his January 2012 report that, without changes, increasing costs and the ongoing need to replace aging vessels could drive funding shortfalls to $56 million a year within the next five years.

American Commercial Lines Will Transport Petroleum Products by Inland Barge for SeaRiver Maritime Inc. American Commercial Lines (ACL) is pleased to announce that it has entered into an agreement with SeaRiver Maritime Inc., a marine affiliate of Exxon Mobil Corporation, to provide petroleum barge transportation services on the U.S. inland waterways. As of January 1, 2013, ACL has entered into a multi-year agreement with SeaRiver to transport liquid cargoes via its mainline service and in unit tows. "We look forward to partnering with SeaRiver to transport ExxonMobil cargoes on the inland waterways," Mark Knoy, President and Chief Executive Officer of ACL, stated.

American Commercial Lines (ACL) is pleased to announce that it will begin transporting crude oil by barge on the U.S. inland waterways for MEG Energy (U.S.) Inc. (MEG Energy), a subsidiary of the Canadian oil company MEG Energy Corp. Crude oil will arrive primarily via pipeline and will be transferred to barges at storage terminals located on the inland waterways for transport by ACL to the Gulf Coast. ACL is dedicating new tank barges built by its manufacturing division Jeffboat into service for MEG Energy, as well as towboats newly repowered and refurbished for maximum efficiency and reliability. "We are committed to providing MEG Energy with the highest quality equipment and the highest level of service by our team of experienced and dedicated maritime professionals…

American Commercial Lines Inc. (ACL), one of the largest and most diversified inland marine transportation and service companies in the United States, announced today the appointments of Mark Knoy as President and Chief Executive Officer and David Huls as Senior Vice President and Chief Financial Officer. Industry veteran Mark Knoy, 52, is joining ACL following a seventeen year career at AEP River Operations, LLC, a subsidiary of American Electric Power Co., Inc., where he spent the last ten years serving as President. Under Mr. Knoy's leadership AEP River Operations grew to become one of the nation's largest and most successful barge lines. "Mark brings to ACL many years of profitable growth on the inland waterways," said Bryan Kelln, President of Portfolio Operations at Platinum Equity.

American Commercial Lines Inc. (NASDAQ:ACLI) (ACL) announced that its Board of Directors has approved implementation of a one for four reverse split of the company's outstanding shares of common stock. The reverse stock split will take effect prior to the opening of markets on Tuesday, May 26, 2009 and will be effective with respect to stockholders of record at the close of business on Monday, May 25, 2009. As a result of the reverse stock split, each four shares of common stock will be combined into one share of common stock and the total number of shares of common stock outstanding (excluding treasury shares) will be reduced from approximately 50.9 million shares to approximately 12.7 million shares.

American Commercial Lines Inc. (NASDAQ:ACLI) announced that its manufacturing division, Jeffboat, and Teamsters Local Union No. 89 have received the 16th annual Labor-Management Award from the University of Louisville Labor-Management Center. The award, which honors an area workplace in which management and labor have demonstrated cooperative relations, was presented at the Labor-Management Center 2009 Award Banquet held on April 16. Jeffboat and the Union were praised by the Labor-Management Center for fostering a culture of open dialogue and communication at all levels of the workplace. According to the nomination, Jeffboat and the union engage in a free and uninhibited exchange of questions…

American Commercial Barge Line has announced a number of new appointments. ACBL, headquartered in Jeffersonville, In. is an integrated marine transportation and service company. ACL filed for Chapter 11 protection on January 31, 2003. Paul Book has been named Director of Barge Maintenance. He was previously Director, Audit & Compliance. Mark Dougherty has been named Director, Vendor Vetting. He was previously a Quality Analyst. David Miller takes the helm of Director, Marketing Services. He was previously Director, Marketing Support. Mario Munoz has been named Director, Fleets. He was previously Director of Fleet Operations. John Fox has been named Liquid Unit Tow Planner. He was previously West Canal System Planner. Gary Ruff has been named Gulf Tow Planner.

American Commercial Lines LLC and its affiliated debtors today filed their Joint Plan of Reorganization in the United States Bankruptcy Court, Southern District of Indiana, New Albany Division. ACL and its affiliated debtors, including American Commercial Barge Line LLC and Jeffboat LLC, filed for Chapter 11 protection on January 31, 2003. Richard L. Under the terms of the Plan, ACL will issue $225M in new Senior Secured Notes, and approximately $138M in new Junior Secured Notes in satisfaction of obligations to the Senior Secured Lenders. Five-year Maritime Lien Holder Notes will be issued to holders of maritime liens or in the alternative, a cash payout of as much as fifty cents on the dollar.

Larry Cornett, Keith White and Reuben R. Bush have joined ACBL as Fleet Managers in the Planning Center. James Benjamin Chandler, Theus Slemmons and Jackie Hansford have been named Dispatcher in the Logistics Department. Donald N. LaVigne, Jr. has joined ACBL as Boat Com Operator in the Logistics Department. Scott W. Nelson has joined ACBL as Oracle DBA Administrator and Betty Waggoner has been named PeopleSoft Programmer/Analyst in the Technology Department. Sean Smith has been named Director of Operations and Enrique Gil has been named Director of Finance and Administration for ACBL de Venezuela, C.A. Lee Schroeder has been named Fleet Superintendent for the Harahan and Marrero, Louisiana Fleets. Trinette M.

American Commercial Lines LLC (ACL) has emerged from Chapter 11 protection pursuant to the Plan of Reorganization approved on December 30, 2004 by the United States Bankruptcy Court of Southern Indiana, New Albany Division. Under the terms of the Plan of Reorganization, ACL LLC’s emergence from bankruptcy became effective on January 11, 2005. Equity in ACL LLC was transferred to a new parent company, American Commercial Lines Inc. (“ACL”), which will transfer shares to the holders of approximately $278 million of pre-petition bonds and other secured creditors. On January 13, 2005, ACL renewed approximately $364 million of secured financing with JPMorgan Chase Bank N.A. as Agent for the pre-petition secured lenders. Bank of America, N.A.

American Commercial Lines Inc. (NASDAQ: ACLI) announced the closing of the initial public offering of 9,487,500 shares of its common stock at a price to the public of $21.00 per share. Of the shares sold in the offering, 7,500,000 shares were sold by ACL and 1,987,500 shares were sold by a selling stockholder. The shares sold by the selling stockholder included 1,237,500 shares purchased pursuant to an option granted by the selling stockholder to the underwriters, which was exercised in full. Based on the public offering price of $21.00 per share and after deducting underwriting discounts and commissions, the net proceeds to the Company were approximately $146.5 million, and the aggregate net proceeds to the selling stockholder were approximately $38.8 million.