Oak Hill News

The Hepburn and Sons LLC team welcomed David Rice, CAPT David Bauer, USN (Ret), and Gary Loberg as their newest members. David Rice serves as Senior Consultant, Material Science. David Bauer will serve as the Senior Manager, Material Science. Gary Loberg serves as Senior Manager, Advisory Services.David Rice comes to Hepburn and Sons, LLC after a career spanning 45 years at Newport News Shipbuilding (NNS). During his time at NNS he served as the Manager of Contracted Research & Development and was responsible for Research & Development Programs funded by ONR/ManTech…

A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector.World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping sector, which has struggled with tough markets for a decade.Meanwhile European banks, particularly German lenders, are trying to offload distressed and performing loans…

Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday.Reuters reported last week that the sale of the portfolio was imminent, as the bank draws a line under sour investments in the sector and starts a fresh push in transport lending.Deutsche Bank said it was not exiting ship financing."Following this disposal and other derisking strategies we have implemented, the…

Deutsche Bank has found a buyer for the bulk of its bad ship loans as it seeks to draw a line under sour investments in the sector and to start a fresh push in transport lending, people close to the matter said.Germany's flagship lender has agreed to sell a non-performing ship loan portfolio with a notional value of $1 billion to investors Oak Hill Advisors and Varde, one of the sources said.Deutsche Bank and Oak Hill declined to comment, while Varde was not immediately available…

The amphibious assault ships USS Wasp (LHD 1), USS Kearsarge (LHD 3) and dock landing ship USS Oak Hill (LSD 51) along with the Marines of the 26th Marine Expeditionary Unit are supporting the lead federal agency in providing humanitarian relief efforts for Hurricane Irma. Wasp, the first Navy platform to arrive in the vicinity of the U.S. Virgin Islands, is providing medium and heavy lift helicopters to transport people and supplies. Wasp's helicopters are conducting medical evacuations for intensive care patients from St. Thomas to St. Croix and conducting site assessments on the initial damage in St. Thomas. Wasp departed for Sasebo, Japan, Aug. 30, to assume duties as the forward-deployed flagship of the amphibious force of the U.S. 7th Fleet.

The U.S. Navy has a balanced fleet, but it wants to grow bigger and better. Will the budget allow both? Maritime Reporter's March 2017 cover story on the U.S. Navy was all about the numbers. There exists several plans to grow the fleet beyond the current number of 308 ships, the Mitre recommendation of 414 ships, the Center for Strategic and Budgetary Assessment 340-ship proposal, and the Navy’s decision to grow the fleet to 355 ships, and the Trump administration’s 350. With so many numbers being bandied about, there are even more suggestions on how to get there.

General Dynamics NASSCO-Norfolk was awarded a $42 million cost-plus-award-fee modification to a previously awarded contract for the repair and alteration for the USS Oak Hill (LSD-51). NASSCO-Norfolk will provide ship repair services including engine replacement/repairs, ballast tank preservation, habitability upgrades and close-in weapons system repairs. Work will be performed in Norfolk and is expected to be completed by April 2017. NASSCO is currently conducting repair and modernization efforts in four ports throughout the United States, with the majority of work located in San Diego. Other ports include Mayport, Florida; Bremerton, Washington; and Norfolk, Virginia.

1830 - The sloop of war USS Vincennes becomes the first US Navy warship to circle the globe when she returns to New York. She departs on Sept. 3, 1826, rounds Cape Horn and cruises the Pacific protecting American merchantmen and whalers until June 1829. 1880 - Congress authorizes the Office of Judge Advocate General. Vice Adm. Nanette M. Derenzi currently serves as the 42nd Judge Advocate General of the Navy. 1937 - Capt. Julius F. Hellweg commands the Navy detachment that observes a total eclipse of the sun.

The Kearsarge Amphibious Ready Group (ARG) flagship USS Kearsarge (LHD 3) celebrated the Navy’s 240th birthday Oct. 13, 2015. The Kearsarge ARG team is comprised of the multi-purpose amphibious assault ship USS Kearsarge (LHD 3), the amphibious dock landing ship USS Oak Hill (LSD 51), the amphibious transport dock ship USS Arlington (LPD 24), and embarked Marines from the 26th Marine Expeditionary Unit (MEU), which departed the U.S. on October 6, 2015. Kearsarge celebrated the event with 1MC announcements throughout the day, a cake cutting and singing during a ceremony aboard. The 26th Marine Expeditionary Unit (26th MEU) is one of seven Marine Expeditionary Units currently in existence in the United States Marine Corps.

Sailors from the Kearsarge Amphibious Ready Group (KSGARG) and Marines assigned to the 26th Marine Expeditionary Unit (MEU) kicked off the KSGARG/MEU Exercise (ARGMEUEX) in the waters east of of the United States June 13. The KSGARG comprises Amphibious Squadron (PHIBRON) 4, 26th MEU, amphibious assault ship USS Kearsarge (LHD 3), amphibious transport dock ship USS Arlington (LPD 24) and dock landing ship USS Oak Hill (LSD 51). According to Kearsarge Command Master Chief David Twiford, ARGMEUEX is a more than two-week exercise that gives the KSGARG the opportunity to come together and work on integration in preparation for deployment. "These ships go through a cycle every couple years to get ready to deploy," said Twiford. "The MEU does the same thing.

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced that the transaction with Breakwater Capital and Oak Hill Advisors, L.P. has been closed. In accordance with the joint venture agreement, Breakwater Capital and Oak Hill Advisors, L.P. (acting through certain of its funds and accounts) have jointly agreed to invest approximately $50 million as consideration for the 50% equity interest in Odfjell's LPG/Ethylene business.

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider, Jacobson Companies from Oak Hill Capital Partners. The transaction was valued at $750 million (€560 million) in cash on a debt-free and cash-free basis, plus a capped earn-out relating to future performance. The acquisition is being financed through a combination of Norbert Dentressangle reserves and available credit lines. The deal has received all necessary regulatory approvals. Herve Montjotin, Chief Executive Officer of Norbert Dentressangle, said, "We are very pleased to announce the completion of this deal.

U.S. Navy ships and U.S. Coast Guard cutters, Station New York and Maritime Safety and Security Team New York, along with U.S. Army Corps of Engineers, New York Police Harbor units and Fire Department of New York’s fireboat participated in the 2014 Fleet Week New York Parade of Ships, which took place in New York Harbor, today. Participating military ships included the Harpers Ferry-class dock landing ship USS Oak Hill (LSD 51), Arleigh Burke-class destroyers USS Cole (DDG 67 and USS McFaul (DDG 74), and U.S. Coast Guard cutters Campbell (WMEC 909), Katherine Walker (WLM 552), Thunder Bay (WTGB 108), and Sailfish (WPB 87356). Fleet Week New York, now in its 26th year, is the city’s time-honored celebration of the sea services.

Maritime services provider Inchcape Shipping Services (ISS) announced the appointment of Captain Michael Durnan, U.S. Navy (Retired) as Senior Vice President, Remote and Government Services. Reporting to Jan-Hein Dissel, COO of Supply Chain Solutions at ISS, he will head up an experienced business development and operations team based in Dubai. Captain Durnan was commissioned as a Naval Officer in 1978 and spent his career serving on various U.S. Navy ships. His final at-sea posting was as the first Commanding Officer of USS Oak Hill which deployed to the Mediterranean theatre.

Commander, 2nd Fleet ordered ships based in Hampton Roads in southeastern Virginia to get underway Sept. 16, to avoid potential damage to ships and piers from anticipated hurricane force winds and high tidal surges. Ships currently underway will stay out to sea until Hurricane Isabel passes. Vice Adm. Gary Roughead, commander of the U.S. 2nd Fleet, said the decision to sortie the ships from Hampton Roads is based on concerns for the safety of Sailors, and the preservation of the ships and associated equipment. Forty Hampton Roads-based ships and submarines will get underway Sept.

The Commonwealth of Massachusetts awarded the design contract for a 40-45-ft. fisheries patrol boat to Response Marine, Inc. of Newburyport, Mass. (Pictured below, left). The 35+ knot boat will be used for fisheries enforcement, boating safety enforcement, homeland security as well as search and rescue patrols. Respone Marine is teaming with Marine Design Inc. of Gulf Breeze, Fla., on the project, which is expected to be completed in late 2003 for construction proposals early in 2004. Response Marine has also been hired by Winninghoff Boats to design and manage construction of its most recent fire/rescue boats. These include two 30-ft. twin outboard, pilothouse boats with firefighting systems up to 1,500 gpm at 150 psi, and a single outboard, open boat with a 550 gpm system.

Fairbanks Morse Engine, an EnPro Industries company, will install low load upgrade kits on the LSD - 41/49 class of U.S. Navy ships following a $4 million federal spending plan secured by Wisconsin Congresswoman Tammy Baldwin. The decision to upgrade the engines is based on a successful proof-of-concept trial of low load upgrade kits on the U.S.S. Oak Hill (LSD-51) for its Fairbanks Morse Opposed Piston (OP) engines that provide ship electrical service. Bay (WTGB 107). The upgrade kit extends the service life of the engines, while at the same time reducing emissions and lowering lube oil and fuel consumption rates. This technology will result in substantial cost savings and increased reliability for the U.S. Navy.

Amphibious assault ship USS Bataan (LHD 5) pulls out of the Naval Station Rota Harbor. Bataan Expeditionary Strike Group conducted a port visit to Rota after conducting maritime operations in support of the global war on terrorism. U.S. The multipurpose amphibious assault ship USS Bataan (LHD 5) and elements of the Bataan Expeditionary Strike Group (ESG) successfully entered the U.S. 2nd Fleet area of operations (AOO) on June 26, as the group sailed west across the Atlantic Ocean. Bataan ESG stayed busy in the 6th Fleet AOO for approximately three weeks before making the trip toward home. As the flagship of the ESG, Bataan accomplished both internal unit level goals and assignments from the fleet commander during that time.

By Mass Communication Specialist 2nd Class (AW) Jeremy L. The Aviation Intermediate Maintenance Department (AIMD) aboard the multi-purpose amphibious assault ship USS Bataan (LHD 5), gave a unique award to the Non-Destructive Inspection Work Center on May 20. The AIMD award program was incorporated to help relieve monotony at the work bench and build camaraderie between the Navy and Marine Corps personnel working in AIMD. Master Chief Avionics Technician (AW/SW) David Clark, AIMD leading chief petty officer (LCPO), incorporated the “Shop of the Week” program aboard Bataan after initiating the concept with Master Chief Aircraft Maintenanceman (AW/SW) Michael G. McGary in 2004 while stationed aboard USS Harry S. Truman (CVN 75).

The dock landing ship USS Oak Hill (LSD 51) and Marines from the 26th Marine Expeditionary Unit (MEU) began Image Nautilus 2007 on Feb. 5 by successfully offloading the MEU and their supplies in Djibouti on the northeast coast of Africa. The two-week operation, which also includes Assault Craft Unit (ACU) 4 and Beachmaster Unit (BMU) 2, allows the Sailors of Oak Hill and the embarked Marine assets the chance to work and train together. Oak Hill successfully offloaded the MEU and many of their supplies to the beach, including M1A1 Abrams tanks, trucks and HMMVVs, with the assistance of two landing craft air cushions (LCACs) from ACU 4. “The amphibious projection of power from ship to shore is one of Oak Hill’s primary missions,” said Cmdr. Ray Stapf, Oak Hill’s commanding officer.

Ships of the Bataan Strike Group performed maritime security operations (MSO) Feb. 25 to March 1 in the U.S. Naval Forces Central Command's area of responsibility. MSO helps set the conditions for security and stability in the maritime environment, as well as complements the counter-terrorism and security efforts of regional nations. “Every ship in the Expeditionary Strike Group (ESG) is actively engaged in MSO,” said Cmdr. Timothy Spratto, Bataan Strike Group chief staff officer. These operations deny international terrorists use of the maritime environment as a venue for attack or to transport personnel, weapons or other material. “We’ll partner with regional allies or multinational coalition forces to supoort security in various regions,” said Cmdr.

Commandant of the Marine Corps Gen. James T. Conway speaks with Marines and Sailors from the 26th Marine Expeditionary Unit (MEU) aboard the multi-purpose amphibious assault ship USS Bataan (LHD 5). Bataan left her homeport of Norfolk, Va., Jan. 4 on a regularly scheduled deployment as the flagship for the Bataan Expeditionary Strike Group (ESG). Bataan ESG is conducting Maritime Security Operations (MSO) which help set the conditions for security and stability in the maritime environment, as well as complement the counter-terrorism and security efforts of regional nations. These operations deny international terrorists use of the maritime environment as a venue for attack or to transport personnel, weapons or other material. U.S.

Boatswain’s Mate 3rd Class Michael Raines signals to the load master of a Landing Craft Utility (LCU) to raise the bow ramp prior to departure from the well deck of amphibious assault ship USS Bataan (LHD 5). Bataan Expeditionary Strike Group (ESG) is conducting Maritime Security Operations (MSO) which help set the conditions for security and stability in the maritime environment, as well as complement the counter-terrorism and security efforts of regional nations. U.S. Navy photo by Mass Communication Specialist 1st Class Ken J. The crew aboard the multipurpose amphibious assault ship USS Bataan (LHD 5) successfully conducted their first landing craft utility (LCU) operations in almost a year while underway in the Persian Gulf on April 7.