SAAM Acquires Canadian Towage Firms
SAAM Towage Canada announced it has acquired Standard Towing Ltd. and Davies Tugboat Ltd. Both companies provide harbor, shipdocking and towage services on the West Coast of Canada.“Through this acquisition we are adding three Canadian built tugboats to the fleet which are in excellent condition. In addition, SAAM Towage will expand our service area to Northern Vancouver Island. This strengthens our overall position in British Columbia…
Conrad to Build Two Tugs for the US Army Corps of Engineers
Conrad Shipyard has been awarded a contract from the U.S. Army Corps of Engineers to design and build two tugboats for use in the Great Lakes.The two CELRE Detroit Ice Class tugs will be used for the mobilization of floating equipment on the St. Mary’s River, upper Great Lakes and the Soo Harbor, as well as breaking ice up to 12 inches thick and performing ice scraping operations at the St. Mary’s Falls Canal.Conrad won out among five bidders for the $16…
Högberg Named President of Volvo Penta North America
Volvo Penta has named Fredrik Högberg president of Volvo Penta North America, replacing Tony Kelleher who has served as acting president since December 2021.A new member of Volvo Penta's executive management group, Högberg will take up the position on May 15. Kelleher will continue his position as head of customer support and training in North America.Högberg joined the Volvo Group in 1994 and has held a broad range of leading positions within the group…
Konecranes, Cargotec Drop Merger Plans
Finnish engineering groups Konecranes and Cargotec decided on March 29 to cancel their planned merger after the United Kingdom Competition and Markets Authority (CMA) blocked the transaction, citing competition issues.The British watchdog decided to block the potential 4.5 billion euro ($5.0 billion) deal earlier on March 29.The merger, which would combine engineering group Konecranes and cargo handling machinery maker Cargotec…
Maritime Antitrust Immunity in Crosshairs
While those in the Beltway continue to struggle to offer solutions to U.S. supply chain capacity issues, it seems apparent that policymakers have at least found their scapegoat for these issues in the form of the maritime industry. A specific talking point during the State of Union Address, a White House-endorsed agreement between the Federal Maritime Commission (FMC) and Department of Justice (DOJ)…
Baltic Dry Index Slides to Lowest in Over Five Weeks
The Baltic Exchange's dry bulk sea freight index hit its lowest in over five weeks on Thursday, dragged down by declining rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 67 points, or 3.2%, to 2,061 points.The capesize index fell 73 points, or 4.9%, to 1,417 points, touching its lowest in seven weeks.Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal,
US Offshore Wind: Figuring Out the Business
If awards were given for dominating the sustainable energy spotlight, offshore wind (OSW) would surely be in line for top honors.Consider:Big money: BOEM’s February sale of New York Bight offshore wind development rights drew a record $4.37 billion in developers’ bids. Not only is that real money, but just as critically, “This week’s offshore wind sale makes one thing clear: The enthusiasm for the clean energy economy is undeniable and it’s here to stay…
Sleepy Captain Piloted Tow that Struck a Lock Gate -NTSB
A captain assuming a watch immediately after waking led to a tow striking a lock gate in the Gulf Intracoastal Waterway, the National Transportation Safety Board (NTSB) said in its Marine Investigation Report released Tuesday.On March 22, 2021, the towing vessel Ava Claire was transiting westbound pushing two fully loaded tank barges in the Gulf Intracoastal Waterway near Intracoastal City, La. After entering the Leland Bowman Lock…
Great Lakes Towing Acquires Sarter Marine Towing
Sarter Marine Towing Company Inc. announced it has agreed upon definitive terms for the sale of Sarter to The Great Lakes Towing Company.Under the deal, The Great…
Solstad Offshore Sells Six Offshore Vessels. Completes Fleet Trimming Program
Norwegian offshore vessel owner Solstad Offshore has sold six more vessels, wrapping up its fleet 'right-sizing' plan announced in 2020.As previously reported, back in 2020, Solstad Offshore said that, as part of its restructuring agreement, it would "right-size" its fleet to make it more competitive, with a plan to divest 37 vessels "over a period of time," and has been gradually offloading the unneeded tonnage ever since.In a statement on Thursday…
Maju 510 Tug: Singapore's First Autonomous Vessel Project Complete
Singapore's Keppel Offshore & Marine said Thursday it had completed work on the Maju 510 tug, its first autonomous vessel project."Capable of autonomous vessel navigation as well as collision detection and avoidance (CDCA), the Maju 510 tug, owned and operated by Keppel Smit Towage, is the first vessel in the world to receive the Autonomous Notation from ABS classification society," Keppel O&M said.According to Keppel O&M…
Oil Tanker Players Euronav, Frontline Plan $4.2B All-stock Merger
Belgian oil tanker group Euronav and smaller Oslo-listed rival Frontline plan to merge in an all-stock transaction valued at $4.2 billion that they said would cut costs and help in their low-carbon transition.Euronav shareholders will own 59% of the combined group and will also receive a cash dividend before the deal closes, while Frontline owners will hold the remaining 41%, the companies said in…
