Workboat Design: Interview with Bob Hill
Robert (Bob) Hill of Ocean Tug & Barge Engineering Corp., of Milford, MA has specialized in the design of AT/B’s for many years. As probably the world's most experienced designer of large articulated tug/barge (AT/B) systems, Hill’s success comes, in part, from a willingness to innovate. Ocean Tug & Barge Engineering Corporation and Robert Hill are the co-inventors of the Intercon Connection System. In a nutshell, his firm has had a hand in over 70% of the operational AT/B’s in service in America – including, 80% of those built or converted since 1994.
Nordic Lady: Keeping a Good Boat Up to Date
When Trygve Westergard bought the 98- by 28-foot Judi B in the spring of 2016 he was entering a new chapter in a varied marine career. Growing up on a remote island off Ketchikan, Alaska as the third generation of Norwegian-Danish family, he had fishing in his blood and his environment. A stint at the California Maritime Academy earned him an unlimited masters license and a BS in marine transportation.After a decade of running everything from ferries to off-shore boats and filling the gaps with fishing, Westergard decided it was time to come home.
Scorpio Bulkers Gets New Loan Facility
Monaco-based international shipping company Scorpio Bulkers announced that it has received a commitment from ABN AMRO Bank N.V. and Norddeutsche Landesbank Girozentrale for a loan facility of up to USD 60 million.The loan facility will be used to finance up to 60% of the fair market value of two Ultramax dry bulk vessels (SBI Perseus and SBI Phoebe) and two Kamsarmax dry bulk vessels (SBI Electra and SBI Flamenco).The loan facility has a final maturity date of five years from drawdown date and bears interest at LIBOR plus a margin of 2.25% per annum.This loan facility…
d'Amico International Shipping Sells Handy Vessel Cielo di Milano
d’Amico International Shipping nnounced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement for the sale of the MT Cielo di Milano, a 40,081 dwt handy product tanker vessel, built in 2003 by Shina Shipbuilding, South Korea for a consideration of US$ 8.025 million. This transaction allows d’Amico Tankers to generate around US$ 2.4 million in cash, net of commissions and reimbursement of the Vessel’s existing loan, contributing to the liquidity of the international marine transportation company operating in the product tanker market.
d'Amico International Shipping Sells MT High Trust
Luxembourg-based d’Amico International Shipping announced that its operating subsidiary d’Amico Tankers signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trust for a consideration of US$ 29.5 million. The marine transportation company operating in the product tanker market said that High Trust is a 49,990 dwt medium-range product tanker vessel, built in 2016 by Hyundai-Mipo, South Korea. Thistransaction allows d’Amico Tankersto generate at the vessel’s delivery around US$ 11.9 million in cash…
d’Amico International Sells, Leaseback MT High Loyalty
d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Loyalty, a 49,990 dwt medium-range product tanker vessel, built in 2015 by Hyundai-Mipo, South Korea for a consideration of US$ 28.5 million.Thistransaction allows d’Amico Tankersto generate at the Vessel’s delivery around US$ 13.3 million in cash…
Kings Point Alumni Release Commemorative Video
Video marks Academy's 75th year and those who made the ultimate sacrifice.Alumni of the United States Merchant Marine Academy (USMMA) released an inspiring video to commemorate the 75th anniversary of the institution and memorialize midshipmen who have died in service to the nation. Over the summer, the USMMA Alumni Association and Foundation (USMMA-AAF) has been executing a multi-faceted campaign to mark the federal academy's decades of service and the foundational role it plays…
OP/ED: The 2020 Sulfur Cap – Growing Pains or Mass Hysteria?
At the stroke of midnight on January 1, 2018, the global shipping industry will be expected to comply with the IMO agreed upon 0.5% sulfur cap for bunker fuels with few waivers available.For vessels which have installed scrubbers, higher sulfur fuels may continue to be used. IMO’s recent agreement on the ban of carriage of non-compliant fuel assures that cheating will not be allowed providing that port states integrate this ban into their respective port state control inspection programs.All that said…
Scorpio Bulkers Refinances Ultramax Vessel
Scorpio Bulkers announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2015 Japanese built Ultramax dry bulk vessel, SBI Echo, for a consideration of $19.0 million and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of $5,400 per day. If converted to floating interest rates, based on the expected weighted average life of the transaction…
Change of Command for Cal Maritime's Training Ship
After 10 years at the helm, Harry Bolton handed over command of the Training Ship Golden Bear Wednesday at California State University Maritime Academy.Bolton, a 1978 graduate of the Academy, returned to Cal Maritime on May 1, 2008 after a 30-year career with American Maritime Officers. Twenty of those years were with American Overseas Marine Corporation (AMSEA) aboard the original preposition ships based out of Guam, Saipan and Diego Garcia. Bolton began sailing as Master in 1985, only seven years after graduation.Dr.
Apples and Oranges When it Comes to Vessel Finance
Companies, lenders, and their auditors worldwide need vessel appraisals that can be relied upon when put into legal documents. As the offshore energy support markets awaken, this is more important now, than ever.While a great deal of shipping finance is done at a 10,000' level, with bond deals and equity swaps, the value of the assets found on ground level are still very important. There are taxation issues, insured value, public reporting, and allocation of purchase price, where the value of individual vessels is important.
OSVDPA Accredits Texas A&M Maritime Academy
A&M becomes first U.S. Maritime Academy to teach accredited DP courses.The Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) has announced that Texas A&M Maritime Academy (TAMMA) is accredited to provide OSVDPA courses to its cadets. TAMMA, in Galveston, Texas, is the first Maritime Academy in the United States to be accredited by a dynamic positioning operator (DPO) certification body.In announcing the accreditation, OSVDPA Executive Director, Aaron Smith, said, “The OSVDPA Board of Directors and our staff are very excited to issue this accreditation.
SPECIAL REPORT: GREAT LAKES BUSINESS and The Great Lakes Group
Embracing and spanning the full breadth of Great Lakes geography and business mix, GLG’s Joe Starck has his multi-missioned firm looking to the future – in more ways than one.The Great Lakes Group (GLG) takes its beginnings from its 1899 incorporation by industrial icon John D. Rockefeller, who formed the Great Lakes Towing to satisfy the demands of a Midwest industrial revolution that brought bigger ships to the region. Existing vessels, unable to keep up with demand, were supplemented and replaced by a fleet of as many as 100 tugboats; the first steel tugs in the region.
Q-LNG, VTHM Execute LOI for Another LNG Bunkering Vessel
Quality Liquefied Natural Gas Transport, LLC (“Q-LNG”) announced its further commitment to support the cruise line industry and its liquefied natural gas (“LNG”) marine fueling needs by executing a letter of intent (“LOI”) with VT Halter Marine, Inc. (“VT Halter”) to construct an 8,000m3 LNG Bunkering Vessel on speculation.CEO, Shane Guidry, commented, “With the past and recent announcements by major cruise lines to build and deliver LNG powered cruise ships to the U.S. market…
APH Pushes Container on Vessel Service for St. Louis Region
Innovative waterway concept vessel could deliver transportation savings for shippers on the Mississippi River. Plans to transport freight via innovative waterway vessels that backers say will revolutionize the inland waterway system and provide significant transportation cost savings for shippers, especially those accessing the Midwest by utilizing the Mississippi River and its tributaries, are underway, according to Sal Litrico, CEO for American Patriot Container Transport, a…
Maritime Ports Pushed to Up Cyber Security
Resilience planning, Info Sharing Take Spotlight“Oh what a tangled web we weave, when first we practice to deceive.” That old chestnut gets turned on its head when it comes to port cyber security. It’s more like “Oh what a tangled web we’ve woven, so much harder to stop data stolen.”Ports today have the physical aspect of security pretty well nailed shut - gates, locks, fencing, alarms, cameras, drones, etc. As Chris Mason, Rajant Corp.’s director of sales for EMEA, notes, “Every…
The New York Bight – a Hydra of Difficult Issues
The greening of America’s energy signature will not come without the usual discussions, regulatory oversight – and opposition from a raft of special interests.Amidst an atmosphere of possible resurgence in the domestic offshore oil energy, maritime stakeholders are also reminded that there is more than one kind of energy available for development off the four collective coasts of the United States. That process is underway in the Great Lakes; it has already happened off of New England.
USCG Navigation Center: Steering a steady course for safe, secure, efficient waterways
The U.S. Coast Guard’s Navigation Center (NAVCEN) is involved in a number of activities that have an impact on all Americans, even if they don’t realize it.From motorists checking directions with their Global Positioning System (GPS) to boaters to ships coming and going to U.S. ports, the NAVCEN plays an unseen but vital role.With a staff of19 officers, 17 enlisted personnel and 19 civilians, NAVCEN falls under the Director of Marine Transportation Systems (CG-5PW) at USCG Headquarters…
Great Lakes-Seaway Shipping Boosted in June
United States grain exports via the St. Lawrence Seaway are up 32.1 percent this season compared to 2017. Construction materials were also heavily influential in the latest results with a nearly 38 percent increase in asphalt from the same time last year, as well as increases in cement and stone.“Summer is the season for construction projects and ships have been delivering materials for major building projects across the region,” says Bruce Burrows, President of the Chamber of Marine Commerce. “U.S.
Evergreen Group Celebrates 50th Anniversary
Evergreen Group celebrated its 50th Anniversary at the Chang Yung-Fa Foundation, home of the charity set-up by Evergreen Group Founder and Chairman Dr. Y.F. Chang, said a press release from the company.In addition to senior executives and employees of the Group’s businesses, the event was also attended by public officials, customers and business agents from both the shipping and airline industries as well as representatives of supply chain partners from more than fifty countries.The…
Kuehne Named GM of Bollinger Quick Repair
Louisiana based shipbuilding and repair group Bollinger Shipyards, LLC, announced it has promoted Matthew Kuehne to General Manager of Bollinger Quick Repair.Bollinger’s CEO and President, Ben Bordelon, said, “[Kuehne] will be responsible for leading and growing the facility as we continue to service the needs of our current and future customers.”Kuehne joined Bollinger in 2011 and has held the positions of Assistant Estimating/Project Coordinator, Estimating/Project Coordinator, Assistant Operations Manager and Operations Manager.
Scorpio Bulkers Gets New Build Financing form Nordic Banks
Scorpio Bulkers announced that it has received a commitment from Nordea AB (publ), acting through its New York branch, and Skandinaviska Enskilda Banken AB (publ) for a loan facility of up to $184.0 million.The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk vessels (SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo) and six Kamsarmax dry bulk vessels (SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka).The loan facility…
Dupre Marine Transportation Launches Helm CONNECT Personnel
Houma, La.-based towing operator becomes first company to roll out new Helm Operations software for crew management.Marine software company Helm Operations announced that Dupre Marine Transportation is the first company to go live with its newly-launched Helm CONNECT Personnel software for crew management and payroll. Dupre Marine is just one of several marine companies which have signed on for the new product since its launch in mid-June.Helm CONNECT Personnel is the latest addition to the Helm CONNECT platform…