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Meco News

17 Dec 2014

Panama Canal Expansion Moves Ahead

The works for the grout curtain to protect the foundation of Borinquen 1E Dam concluded today. The grout curtain is 2.4 kilometers long and 15 meters deep under the core of the foundation of Borniquen 1E Dam, located on the west side of Pedro Miguel Locks. “This is another important component of the Expansion Program that is successfully moving forward,” said Panama Canal Administrator Jorge L. Quijano. The grout curtain will prevent ground-water seepage and erosion of materials through the foundation of Borinquen 1E Dam, by filling with cement the rock fractures, void spaces and discontinuities located below the dam's foundation. The works are part of the Pacific Access Channel 4 (PAC-4) project, which is one of the components of the Expansion Program.

06 Feb 2014

International Shipholding Returns to New Orleans

Gov. Jindal at a press conference Wednesday afternoon at the Port of New Orleans Administration Building, joined by ISH President Erik Johnsen (left of Gov. Jindal) New Orleans Mayor Mitch Landrieu (to the left of Johnsen), Port of New Orleans President and CEO Gary LaGrange (far right), Louisiana Secretary of Economic Development Stephen Moret (to the left of LaGrange) and a host of local and state elected officials.

Louisiana Governor Bobby Jindal and International Shipholding Corp. President Erik L. Johnsen announced the company will relocate its corporate headquarters from Mobile, Ala., to New Orleans, where the business was founded in 1947. Listed on the New York Stock Exchange as ISH, the company owns and operates a global fleet of waterborne cargo vessels. ISH recorded annual revenue of more than $310 million in its just concluded 2013 fiscal year. After Hurricane Katrina, recovery challenges led the company to relocate its corporate headquarters to Mobile.

22 Mar 2013

MECO Builds Second Shipboard Desalination System

The Office of Naval Research (ONR) selected MECO to construct a new prototype advanced desalination system. This is the second time that ONR has turned to MECO, a producer of water purification plants, to provide a highly reliable and energy efficient solution. The Office of Naval Research coordinates, executes and promotes the science and technology programs of the United States Navy and Marine Corps. Last month, the Office of Naval Research awarded MECO the construction of a 100,000 GPD (gallons per day) system to be demonstrated on an LHA Amphibious Assault Ship. The new system, a 4,000 GPD unit, joins the 100,000 GPD as part of multiphase ONR Future Naval Capability program aimed at introducing new desalination capabilities to the Navy fleet.

25 Feb 2012

MECO Wins USN Shipboard Desalination Contract

MECO won the design and development of advanced shipboard desalination units for the US Navy under contracts with the Office of Naval Research (ONR). Under the new contracts, MECO will develop systems rated at 4000 and 100,000 gallons per day that are designed to take advantage of advancements in technology and function within the constraints of operating on naval ships. The program will span three years with the first six months spent in design followed by development of demonstration prototypes. Objectives of the program include minimizing volume, mass and manning requirements while improving reliability. In conjunction with Teledyne Scientific and DARPA, MECO is developing technologies to further reduce weight, space and energy for man portable desalination.

08 Aug 2010

Nordic American Tanker Q2 2010 Report

Nordic American Tanker Shipping Ltd. (NAT) announced that the dividend for 2Q10 was $0.60 per share which is the same as for 1Q10. At a time when several shipping companies produce negative results, the Board of Directors is pleased to announce that NAT turned in a solid net income in 2Q10. NAT expect that the company’s fleet will reach a minimum of 20 vessels by the end of 2011. NAT has no plans to tap the equity markets to fund this expansion, since the company currently has ample financial resources to reach a fleet of 24 vessels. The company will pay the dividend on or about September 2, 2010, to shareholders of record as of August 20, 2010.

26 Jan 2010

Panama Canal PAC-4 Work Begins

Work on the second largest contract of the Panama Canal Expansion Program has begun. The Panama Canal Authority (ACP) issued consortium FCC-ICA-Meco the Notice to Commence the fourth and final dry excavation (PAC-4) contract. PAC-4 is the most complex expansion project after the design and build of the new set of locks. The dry excavation included in PAC-4 will create an access channel linking the new Pacific locks with the Canal's existing Gaillard Cut (the narrowest stretch of the Panama Canal). The ACP awarded the PAC-4 contract to FCC-ICA-Meco, a Spanish, Mexican and Costa Rican joint venture, following the consortium's lowest bid submission of $267.8m and its compliance with the requirements established in the request for proposal specifications.

24 Dec 2009

Panama Canal Receives Bids, Dry Excavation

The Panama Canal Authority (ACP) received four bids on Dec. 22, moving the ACP one step closer to awarding the fourth dry excavation (PAC-4) contract under the waterway’s Expansion Program. Now, the ACP will thoroughly analyze the technical and financial submissions and award the contract in the coming weeks. Similar to the three prior dry excavation projects, the ACP will award the contract to the firm with the lowest-priced bid that meets all of the requirements stated in the request for proposals. Over the next few days, the ACP will review the documents submitted by the lowest bidder to verify the company’s experience, technical capacity, financial strength and bonding before awarding the contract. (Note: All prices in U.S.

22 Dec 2008

3rd Panama Canal Excavation Contract

The Panama Canal Authority (ACP) awarded Constructora MECO, S.A. the third of four dry excavation contracts on Dec. 16 to help create an access channel linking the new Pacific locks with the Canal’s existing Gaillard Cut (the narrowest stretch of the Panama Canal). The contracting process began September 30, 2008 when the ACP released its request for proposals (RFP) for the excavation project. On December 4, 2008, the ACP received a total of six bids for the contract. Following a thorough review, the ACP determined that the lowest bidder, Costa Rican firm Constructora MECO, S.A., established in Panama in 1995, met all the requirements in the RFP and awarded it the contract.