Libra Group News

A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday.The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative.U.S. President Donald Trump's administration is seeking to expand LNG exports to help reduce Europe's dependency on Russian gas after Moscow's invasion of Ukraine three years ago.U.S. LNG can be used as a marine fuel in U.S.

Palatka, Fla. shipbuilder St. Johns Ship Building announced it has signed a contract to construct a pair of 80 x 54 x 12 spud barges for marine equipment company Mobro Marine, based in Green Cove Springs, Fla.The spud barges, built to support various marine construction and operations, will join Mobro Marine's fleet serving across the Atlantic Ocean, Gulf of Mexico and the Caribbean.“Having St. Johns Ship Building partner with us to build these barges was only natural. We preferred…

Shipowner Lomar, part of the Libra Group, announced it is working to develop autonomous, low- or zero-emission cargo vessels using large kite systems as the main method of propulsion.Lomar said its corporate venture lab, lomarlabs, has signed a collaboration agreement with maritime deep-tech start-up CargoKite for the project,. which aims to enable low or zero-emission transportation as the global shipping industry explores pathways to decarbonize.The CargoKite technology is a spin-off from Munich’s Technical University and will be further enhanced through the partnership…

Palatka, Fla. shipbuilder St. Johns Ship Building delivered Windea Enterprise, the second of three Jones Act-compliant Incat Crowther 30-meter crew transport vessels (CTV) ordered by WINDEA CTV, LLC, a partnership of Hornblower Wind and MidOcean Wind.St. Johns Ship Building has a long-term relationship with WINDEA CTV, LLC, a company focused on U.S. offshore wind farm support, providing crew and cargo transfer services for offshore installations and long-term operations and maintenance.St.

When a missile fired by Yemen's Houthi Islamists landed near his ship in the Red Sea, Costas Rassias vowed to stop sailing through the perilous waters."I froze," said the Greek 34-year-old second class marine engineer, describing the close call. "I weighed what was more important - my life, or a better income?"As attacks on merchant ships by the Iran-backed Houthis persist, traumatised seafarers are refusing to sail through the Red Sea, according to interviews with more than 15…

Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company's executive chairman said.The container market hit rock bottom nearly a decade ago before rebounding to record highs during the COVID pandemic as demand for consumer goods, which are carried by container ships, surged.George Logothetis, executive chairman of privately owned U.S.-headquartered Libra Group…

Americraft Marine, one of the maritime subsidiaries of Libra Group that owns and operates a Jones Act shipbuilding facility in Palatka, Fla., has announced the appointment of Peter Fetten as Chairman of Americraft.A seasoned leader with four decades in the marine engineering and shipbuilding sectors, Fetten will help shape the strategic direction of Americraft Marine as it works to advance U.S. shipbuilding and the demand for Jones Act vessels. Americraft Marine's St. Johns Ship Building…

St. Johns Ship Building on Wednesday announced it has signed a contract with Seapath for construction of a series of six ABS deck barges in support of their Jones Act leasing business.The barges will be built at St Johns Ship Building’s facility in Palatka, Fla. and will be dispatched to multiple charterers along the US East Coast.Seapath is a subsidiary of the Libra Group, which is also parent to St. Johns’ holding company, Americraft Marine Group.Joshua Lubarsky, CEO of Seapath, said, “Domestic maritime transportation is the backbone of the US transportation system.

Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system. By launching our new Jones Act leasing business, Seapath…

St. Johns Ship Building announced it has appointed Joe Rella as president, succeeding Jeffery Bukoski, who left the role at the close of 2023.Rella brings over four decades of U.S. Navy and commercial maritime experience to his new position at the Palatka, Fa. shipyard. He was previously president and COO at Austal USA and has held executive roles at International Marine and Industrial Applicators. Rella received his undergraduate degree in marine engineering from the U.S. Merchant Marine Academy and earned an MBA from Spring Hill College.

Lomar Shipping, the maritime subsidiary of Libra Group, has announced two key promotions - Peter Cotopoulis as its new Chief Operating Officer (COO) and Mark Kethisouaran as Chief Financial Officer (CFO), both effective from September 1. Based in the company’s London office, Mark succeeds Dennis Psachos, who held the role since joining in December 2021 and has decided to return to his native Greece.Lomar CEO Nicholas Georgiou said, “Over the last 12 months, Peter and Mark have both stepped up in their roles…

Americraft Marine Group, a U.S.-based maritime subsidiary of the Libra Group, announced it has named Eric C. Hugel, CFA, CPA as its new chief financial officer (CFO).A seasoned financial business professional with over 30 years of leadership experience in public and private sectors, Hugel was most recently co-CEO and CFO of Hugel Corporation, a privately-owned family business. Hugel has also served on the board of directors of IEH Corporation (IEHC), a publicly traded aerospace and defense supplier, since 2016 and served as the chairman of IEH’s audit committee since 2019.

U.K.-based shipowner Lomar Shipping announced it has acquired three Supramax bulk carriers as part of its ongoing bulker fleet expansion program.The company, a subsidiary of New York-based Libra Group, said it has taken delivery of the 57,038-dwt Oslo Trader (ex Ariadne, built in 2010), while the 2012-built 56,702-dwt Lima Trader (ex Universal Bangkok) and 57,075-dwt Rome Trader (ex Haut Brion), built in 2011, will be delivered later this month.All three Dolphin 57 vessels are Chinese-built, increasing Lomar's bulk carrier fleet to nine ships.

Libra Group's shipping subsidiary Lomar Shipping announced the appointment of Marius Bujor as its new Technical Director. Based in the company’s Bremen office, he succeeds Stylianos Papageorgiou who has been promoted to the position of Managing Director of lomarlabs, a new venture to collaborate with deep-tech start-ups.Bujor has been with Lomar for eight years, having joined in 2014 as a Technical Superintendent. He became a Fleet Manager four years later, and was promoted to Deputy Technical Director in late 2022, as Lomar prepared for the launch of lomarlabs.

Palatka, Fla. shipbuilder St. Johns Ship Building announced it has appointed Nick Nelson as its first HSE officer.Nelson has more than a decade of service with St Johns Ship Building, most recently acting as yard safety manager.“I expect to participate in an increased effort to protect our employees from the hazards of the industry by implementing additional new policies and procedures as well as increased oversight and training,” Nelson said. “As we continue to grow as a company, so will our efforts and commitment to protect our employees and our environment.

Americraft Marine Group announced it is investing in its Palatka, Fla. based shipyard, St Johns Ship Building, to increase capacity for construction of crew transfer vessels (CTVs) and other vessels to serve the growing U.S. offshore wind industry.In addition to previous commitments from Americraft to its subsidiary shipyard, St Johns Ship Building has also received the final approval of a MARAD grant modification.The investment along with the matching grant will provide for additional…

A subsidiary of global private business group Libra has acquired German tanker company Carl Büttner Holding (CB) for close to $160 million, the unit said on Monday in its latest expansion into shipping.Lomar - Libra's global ship owning and management unit, which has around 50 ships in its fleet including container ships and dry bulk vessels - has completed the acquisition of CB, which has a fleet of chemical and oil products tankers.CB would "benefit from the strength of Libra Group’s network around the world", Libra's executive chairman George Logothetis said."This is an exciting time for Lomar, and we look forward to many innovative and future-thinking announcements to come."Lomar was part of one of the consortiums that bid for the Israeli port of Haifa…

Americraft Marine, a maritime subsidiary of the Libra Group, announced it has acquired U.S. shipyard St. Johns Ship Building.Based in Palatka, Fla., near Jacksonville, St. Johns Ship Building performs new construction and repair of a wide variety of steel and aluminum vessels, including ferries, tugs, deck and tank barges, landing crafts, and general cargo vessels. It is also one several U.S. shipyards currently building vessels that support and service offshore wind farms.With facilities including a storm-protected 100-acre inland campus with a 850-ton floating drydock, St.

Nicholas Georgiou has been promoted to Chief Executive Officer of ship owning and management business Lomar, its parent company the Libra Group announced. Georgiou has been Lomar’s Chief Operating Officer since 2010 and succeeds Achim Boehme, who passed away from cancer in July.George Logothetis, Chairman and CEO of the Libra Group, says, “This announcement has long been in our succession planning, with Achim due to have become Chairman of Lomar. Achim’s tragic passing left us with a huge void but also a tremendous legacy…

Lomar Corporation, a Libra Group company, has again added to its fleet of container ships with the purchase of three vessels plus an order for up to four new buildings from the Yangzijiang Shipyard, says a company press release. The new vessels are the latest ‘widebeam’ specification with a nominal intake of 2,700 TEU and are designed by the Marine Design & Research Institute of China (MARIC). They will feature the very latest eco-fuel-efficient ‘GType’ engines which meet current emissions regulations. These ships are notable for having a very high reefer intake (600 FEU) and a higher than normal homogeneous intake of 2,300 TEU at 14 tonnes. Furthermore, the reduced overall length of the vessels makes them ideal for ports with an LOA restriction.

Terex Port Solutions (TPS) will supply Libra Terminais Rio S/A (Libra) with 12 Terex® rubber-tyred gantry cranes. They are to be delivered in the fall of 2014 to the Libra terminal in the Bay of Rio de Janeiro. The company operates ports in Rio and Santos and ispart of the Libra Group, a leading Brazilian logistics corporation. The cranes will be shipped to Rio, already assembled, from the TPS plant in Xiamen, PR China. TPS’ Brazilian distributor, Terminal Full Dealer (TFD), who facilitated the order, will be responsible for unloading, commissioning and hand-over on site. This investment is Libra’s response to the considerable increase in handling rates at the terminal in Rio de Janeiro…

Global conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group's chief executive said. Libra has proved adept at buying and selling assets since 2008 -- making significant returns on investments. Shipping is battling overcapacity, linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009, forcing operators to look for ways to overcome one of the worst slumps on record. Leading container groups including Maersk are replacing older and smaller vessels with fewer but larger mega-ships to command better economies of scale.

Lomar informs it has declared a further three options to build new container vessels at Chinese shipyards, which brings the total number of newbuilding orders in hand to over 20 ships. The company has declared its final two options in a total order for six 1,100 TEU container vessels from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and have much improved fuel consumption and the ability to carry up to 220 reefer containers.