ACL Realigns Transportation Services Division
American Commercial Lines Inc. (NASDAQ: ACLI) announced it is realigning its Transportation Services Division to reduce costs, improve efficiencies, and streamline communication. The company will be moving leaders in operations management to field locations, closer to its employees and customers. Headquartered in Jeffersonville, Ind., ACL operates a fleet of more than 2,600 barges and approximately 130 towboats on a network of more than 12,000 miles of U.S. inland waterways. It also operates terminals, as well as fleeting, shifting, cleaning, and barge and boat repair services throughout its network. The company is realigning its Transportation Services business into two regional divisions.
ACL Names Braman VP, COO Transportation
American Commercial Lines Inc. announced that William A. Braman, II has been appointed to the position of Senior Vice President and Chief Operating Officer, Transportation Services. Braman joined ACL in February 2009 as Vice President and General Manager, Transportation Services. Prior to joining ACL, Braman held the position of Division Manager for CSX Transportation (CSXT), in which he led more than 2,000 employees in operations and customer service for the northeastern U.S. A transportation industry veteran, Braman began his career with CSXT in 1971 as a switchman and worked his way up through the ranks to a series of senior positions, including Assistant Vice President Automotive Operations and Assistant Vice President Service Design.
MARAD Releases Guide on Research
The U.S. Maritime Administration (MARAD) released its Guide to Market Research for Marine Transportation Services. The Guide contains market research procedures for the determination of market potential for new or enhanced marine transportation services. Source: HK Law
MIL Completes Purchase of TransAmerica Transportation Services
Matson Integrated Logistics (MIL) announced that it has completed the asset purchase of TransAmerica Transportation Services, Inc. (TTS), a third party logistics company based in Akron, Ohio. The new MIL business unit will operate initially under the name TransAmerica Transportation Services LLC and will ultimately be renamed Matson Integrated Logistics. The unit will retain virtually all of TTS's current management team. Specializing in truck brokerage services throughout North America, TTS currently moves over 50,000 shipments annually, generating revenues of approximately $45 million during the latest twelve month period. The company offers various brokerage services, including truckload, less-than-truckload, expedited services, and intermodal.
ACL Delivers on Time in 2007
American Commercial Lines Inc. (ACL) announced that it achieved an 86% on-time delivery performance during 2007 for scheduled service. In addition to being the lowest cost, cleanest, safest and most fuel-efficient mode of transportation in the U.S., ACL has now established its scheduled barge transportation service as a reliable source of transportation. Commenting on this performance, Mark R. Holden, President and Chief Executive Officer, said "This is perhaps our most important achievement over the past three years, transforming ACL from a barge operator into an advanced transportation company. By establishing barge transportation as a reliable source of transportation, we broaden our available markets.
ACL New VP Transportation Service
American Commercial Lines Inc. (NASDAQ: ACLI) announced that Bill Braman has joined the company as Vice President and General Manager of Transportation Services. In Braman's most recent position as Division Manager for CSX Transportation (CSXT), he was responsible for operational productivity and customer service for the northeastern U.S., directing more than 2,000 employees. Braman is a transportation industry veteran who began his career with CSXT as a switchman. He has held a series of positions of increasing responsibility during his tenure at CSXT…
New Leadership for NASSTRAC
NASSTRAC announced new leadership for 2005-2007 at the association's recent fall conference at the Sheraton Inner Harbor Hotel in Baltimore, Md. This newly elected group of executives will give strategic direction and input that supports NASSTRAC in providing professional development, networking, advocacy and provider relationships to its membership. President: Gail Rutkowski, Director-Transportation Services, AIMS Logistics 1st Vice President: Shawn O'Sullivan, Manager- Transportation Services, Pfizer, Inc. 2nd Vice President: Eric Morley, Director of Logistics, Best Buy Company, Inc. Secretary: Susan Konopack, Transportation Analyst, Johnson & Johnson Sales & Logistics Co.
Horizon Lines Wins RRF Contract
The U.S. Department of Transportation Maritime Administration (MarAd) announced Horizon Lines, LLC has been awarded a contract for ship management services for two of its Ready Reserve Force vessels. The Ready Reserve program operates cargo vessels to help supply U.S. military forces deployed in a combat theater. The Ocean Transportation Services (OTS) group of Horizon Lines operates the company's 16 commercial cargo container ships serving markets between the U.S. mainland and Alaska, Hawaii, Guam and Puerto Rico. Additionally, the OTS group provides ship management services to seven Oceanographic (T-AGS) vessels for the U.S. Military Sealift Command.
Crowley Companies Move into Secaucus, NJ
Crowley companies - Crowley Liner Services, Marine Transport Lines (MTL), Mormac Marine Enterprises (MME) and Intrepid Ship Management (Intrepid) - have moved to a new location in Secaucus, NJ. Jersey 07094. transportation services and MME and Intrepid's ship management services. and transportation services segment. The phone number for Crowley is (201) 821-7100 or (800) 443-0548. number for MTL and Intrepid is (201) 821-7000, MME is (201) 821-7070. Information about all can be found online at www.crowley.com.
Teekay Sign Yamal Charter for Newbuild
Teekay LNG Partners L.P. has entered into a 15-year time-charter contract with the Yamal LNG project, sponsored by Novatek OAO, Total SA, China National Petroleum Corporation and Silk Road Fund, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services. Yamal LNG is scheduled to commence production in 2017. The fixed-rate time-charter contract will be serviced by one of Teekay LNG's previously unchartered 174,000 cubic meter MEGI LNG carrier newbuildings that is scheduled for delivery in early-2019. "We are pleased that our commercial team has secured this new 15-year charter contract which expands our service offering to the now fully-financed Yamal LNG project and reduces our uncommitted newbuildings to only one vessel…
ACL Announces New Scheduled Barge Transportation Service
American Commercial Lines Inc. has initiated scheduled barge transportation service on major river segments. Approximately 80% of ACL's freight volume moves between Baton Rouge, LA and Cairo, IL. In February 2007, ACL initiated scheduled sailings between these two terminals. ACL now offers 6th morning arrival when moving southbound from Cairo to Baton Rouge and 7th morning arrival when moving northbound from Baton Rouge to Cairo. ACL will also establish new service schedule products to significant shipping locations such as Minneapolis, Chicago, Pittsburgh, and Cincinnati in the north, as well as New Orleans and Houston in the south. ACL previously announced the capture of $30 million of organic growth in 2007.
BaltNav to Handle Part of Pioneer Marine's Fleet
Pioneer Marine, a leading shipowner and global drybulk handysize transportation service provider enters into cooperation with BaltNav A/S, Copenhagen. The owner of 16 handy size bulk carriers commenced as of October 3rd, a cooperation with the Danish operator BaltNav. Part of Pioneer Marine's bulk carrier fleet will thereafter be commercially operated by BaltNav who already operates a fleet of about 15 handysize vessels. Dimitris Papoulis, S.V. Pioneer Marine is a leading ship owner and global drybulk handysize transportation service provider.
TBS International Limited Expands Fleet
TBS International Limited an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk transportation services, announced today that it has taken delivery of the M.V. Seminole Princess (ex M.V. Clipper Flamingo), a vessel it had previously agreed to acquire. The M.V. Seminole Princess, 29,516 dwt, was built in 1997 at the Dalian Shipyard. With the delivery of the M.V. Seminole Princess, the TBS fleet currently consists of 32 multipurpose, handymax and handysize vessels. Between November 20 and December 5, 2006, TBS expects to take delivery of two additional bulk carriers that it has agreed to acquire, further expanding its fleet to 34 vessels. These two vessels are the M.V. Laguna Belle (ex M.V.
Teekay Shipping Declares Dividend
Teekay Shipping Corporation announced that its board of directors has voted to declare a cash dividend on its common stock of $0.215 per share, payable on Jan. 31, 2002, to all shareholders of record as at Jan. 17, 2002. Teekay is a leading provider of international crude oil and petroleum product transportation services through the world's largest fleet of medium sized oil tankers. The Company's modern fleet has earned a reputation for safety and excellence in providing global transportation services to major oil companies, major oil traders and government agencies worldwide. The Company's common stock is listed on the New York Stock Exchange and trades under the symbol "TK".
Safe Bulkers Plans IPO
anticipation of a planned initial public offering of its common stock. Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, such as grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The initial public offering will include approximately 10,000,000 shares of common stock. The offering may increase to approximately 11,500,000 shares of common stock if the underwriters exercise in full their over-allotment option. The shares are being offered by Vorini Holdings Inc. which will own approximately 80% of the common stock following the offering and will receive all of the proceeds.
Safe Bulkers Announces Listing on NYSE
Safe Bulkers, Inc. announced that its public offering of 10,000,000 shares of common stock was priced at $19.00 per share. As of today, the company’s common stock will trade on the New York Stock Exchange under the ticker symbol “SB”. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, such as grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. All of the shares were sold by Vorini Holdings Inc., a selling stockholder controlled by the family of the Company’s Chief Executive Officer Polys Hajioannou and Chief Operating Officer Nicolaos Hadjioannou. Vorini Holdings Inc.
Delivery GDF Suez Neptune
The first shuttle and regasification vessel (SRV) co-owned by Höegh LNG and Mitsui O.S.K. Lines, Ltd. (MOL) was completed at Samsung Heavy Industries in South Korea, and was delivered to the GDF Suez group on November 30, 2009. It will serve on a long-term charter contract between the parties. GDF Suez Neptune is the first of two SRVs which was constructed in order to provide LNG transportation services to the Neptune LNG Deep Water Port off the coast of Gloucester, Massachusetts, U.S. – to be commissioned in early 2010 – as well as other GDF Suez’s projects around the world.
MOL Delivers Shuttle and Regasification Vessel
The second shuttle and regasification vessel (SRV) co-owned by Höegh LNG and Mitsui O.S.K. Lines, Ltd. was completed at Samsung Heavy Industries in South Korea and delivered to the GDF Suez group on June 1, 2010. It will serve on a long-term charter contract between the parties. GDF Suez Cape Ann is the second of two SRVs that were constructed to provide LNG transportation services to the Neptune LNG Deep Water Port off the coast of Gloucester, Massachusetts, USA, which was commissioned in early 2010, as well as to other GDF Suez projects around the world.
Jaworski New ACL Director, Marine Assurance & Vetting
American Commercial Lines Inc. (NASDAQ: ACLI) announced the promotion of Dan Jaworski to the position of National Director, Marine Assurance and Vetting. Jaworski has been with ACL since 1981 and has held a series of senior commercial positions with the company in the liquids sector. In his new role, Jaworski will remain located in Houston, Texas and will now report to Bill Braman, Vice President and General Manager, Transportation Services. The position of National Director, Marine Assurance and Vetting is new for ACL. The role was created to lead the Company's third-party vetting of vendors and to serve as the primary contact for the marine assurance departments of liquids shippers.
Drybulk Shipowners, Safe Bulkers, Declare Dividend
Safe Bulkers, Inc. has declared a cash dividend of $0.26111 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares. The dividend will be paid on July 30, 2013 to all Series B preferred shareholders of record as of July 25, 2013. The Company has 1,600,000 Series B Preferred Shares outstanding as of today. This is the first cash dividend the Company has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on June 19, 2013. About Safe Bulkers, Inc.
Tsakos Orders Tankers at Sungdong
South Korean shipyard Sungdong Shipbuilding & Marine Engineering Co. (Sungdong) has won an order from Greece’s Tsakos Energy Navigation (TEN) for two 74,000 deadweight tonnage (DWT) crude-oil carriers with an option for two more. TEN has already ordered three tankers from Sungdong. The total value of the contract for the four LR1 tankers could reach up to USD 170 million. Delivery of the firm ship is due in the first half of 2018. Tsakos’s commitment is a massive boost for Sungdong after a tough period of instability and restructuring where the yard skirted with closure.
North America Dominates Global Container Shipping Market
In terms of geography, North America dominates the global container shipping market . This is due to improved transportation services in this region, says a report from Persistence Market Research. The U.S. represents the largest market for container shipping followed by Canada in North America. In Europe, Germany, the U.K., Spain, Italy, and France hold the major share of the container shipping market. Asia is expected to witness high growth rates in the next five years, as many companies are constructing manufacturing facilities in this region.
Safe Bulkers Acquires a Post-Panamax Class Dry-Bulk Vessel
Safe Bulkers, an international provider of marine dry-bulk transportation services, announced today that it has acquired a 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel at an attractive price. The vessel is a sistership of the Company’s two existing South Korean Post-Panamax class vessels. The acquisition was financed from cash on hand. Dr. Loukas Barmparis, President of the Company commented: “In parallel with the optimization of our capital structure our Board has decided to invest in a second hand vessel which we believe it will be accretive to our revenues.