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First Year

ACL Announces Three Year Agreement for Employees and Teamsters Local 89

American Commercial Lines Inc. announced that the company has secured a three year agreement for its shipyard employees with the General Drivers, Warehousemen & Helpers (Teamsters), Local Union No. 89. The three year agreement, which was ratified by over 95% of the voters, provides for first year wage increases ranging from 5% to 18% for various job positions resulting in an overall average wage increase of approximately 11%.


O'Gara Wins Navy Satellite Deal

SatCom Group Holdings PLC, a reseller of mobile satellite communications, said its subsidiary O'Gara Satellite Systems Inc has won a 5-year contract, worth 10m in the first year, from the US government to supply satellite airtime to the US Navy. O'Gara, which is one of the five companies in the world certified as a Defense Information Technology Contracting Organization (DITCO) awardee, won the contract following a tender


Lockheed Martin Wins $17.4M Contract

Lockheed Martin Corp. won a $17.4 million contract from the Navy to support a program that oversees all technical products for submarine combat systems. Under the contract, Lockheed Martin of Bethesda, Md., will handle systems engineering, testing, integration and maintenance for Navy submarine combat systems, as well as new Virginia Class submarines. The contract, which is funded for the first year, includes options for up to 10 years


Northrop Grumman Awarded $58.4M Navy Contract

The U.S. Navy has awarded Northrop Grumman Corporation a $58.4m contract to continue life cycle engineering and technical services in support of the Navy's fleet of USS Ticonderoga (CG 47) class Aegis guided missile cruisers. The company's Ship Systems sector will perform the work in Pascagoula, and provide waterfront support in various U.S. Navy ports. This is projected to be a five-year program. The contract award is for the first year; four one-year options are to follow


Star Bulk Announces Charter

Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its capesize vessel Star Sigma. The three-year charter will commence in April 2009 when the current one-year time charter at a gross daily rate of USD 100,000 will expire. The three-year charter has gross daily charter average rate of $63,000 staggered as follows: USD 69,000 for the first year (April 2009-April 2010), USD 63,000 for the second year (April 2010-April 2011) and USD 57


Star Bulk Announces Charter

Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its Supramax vessel Star Gamma. The new three-year time charter to Korea Line will commence in February 2009 when the current one-year time charter to TMT, at a gross daily rate of USD 28,500, will expire. The new three-year charter with Korea Line has a gross daily average rate of $38,000 staggered as follows: USD 45,000 for the first year (February 2009-February 2010), USD 38


Odfjell, Ceres To Merge Chem Tanker Fleets

Norway's Odfjell ASA and Greece's Ceres Hellenic Shipping will merge their chemical transport assets to create the world's largest fleet of clean tanker tonnage. The transaction, a combined $360 million investment, will create a combined fleet of 92 ships, of which 49 would be wholly or partly owned, company officials said. Odfjell will issue 4.9 million shares to Ceres, worth about $121 million, in exchange for nine chemical tankers totaling 335,000 dwt and four ships totaling 160


Marathon Ashland Petroleum Garners USCG Award

Marathon Ashland Petroleum LLC’s (MAP) Marine Transportation group has received the U.S. Coast Guard’s prestigious William M. Benkert Award for Environmental Excellence. Accepting the silver award on behalf of MAP Marine Transportation was Bruce Tilton, manager, Marine Transportation. “This is indeed an honor, and we are truly thrilled to receive this award, says Tilton. “Because this is the U.S. Coast Guard’s premier national award, recognizing marine environmental excellence


Panama Canal Practices Emergency Oil Spill Techniques

Oil spill emergency response teams gathered at the Panama Canal to attend the sixth International Mobilization, Preparedness & Response Exercise, held Dec. 4-6. During the event, the Panama Canal Authority (ACP) worked with various non-profits to test its emergency response system in affiliation with local and international organizations. MOBEX’s goal is to evaluate the Canal’s response mechanism for large oil spill accidents and measure the ACP’s ability to alleviate the


Exhaust Manifold Catalyst System Completes Trial on Tug

New V-CAT Manifold_092711-01.jpg

New Exhaust Manifold V-CATTM Catalyst System from MIRATECH Successfully Completes One Year Trial on Harbor Tug.   MIRATECH Corporation announces a successful first year demonstration of its new, patented V-CATTM Integrated Diesel Oxidation Catalyst System on a vessel powered by two EMD 12-645 roots blown diesel engines in service in California. MIRATECH Corporation, in partnership with Foss Maritime Company, has now successfully completed the first year of a three-year program to


Minerals Facility to Open at Port of New Orleans

Today, Gov. Bobby Jindal and IT Minerals LLC CEO Jose Domene announced a $4.5 million capital investment by the company in Louisiana, where IT Minerals will establish an importing, processing and exporting facility at the Port of New Orleans for minerals sourced from Mexico and other countries


Beating the Bye-Bye Bonus Blues

A changing tax landscape doesn’t have to mean bad news – at least not just yet. A Changing Landscape Historically, bonus depreciation has had a significant effect on construction of new vessels, allowing businesses to initially expense 30 percent


Bunker Suppliers, Endofa, in France Partnership

Kenn Soendergaard: Photo credit Endofa

Endofa, an independent physical marine fuel supplier and bunker trader with offices in Houston and Dubai, informs it has partnered with another emerging bunker broker, VP Bunkers, to form Endofa-VP with offices in Nice, France. According to Endofa's Kenn Soendergaard


U.S. GHGas down by 10 % - EPA

U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the United States' 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory. The report showed that emissions dropped 3


SCI Hires New Sales Head, Opens 12th Office

Survival Craft Inspectorate (SCI), a global provider of emergency marine evacuation systems, has made a new appointment and announced the opening of its 12th office. Jos Lems, who has more than 25 years’ experience in the maritime sector


CTruk Starts Work on Enhanced SWATH Workbaot

CWind Astute

CTruk has utilized the performance statistics and operational feedback gained during its composite SWATH workboat CWind Astute’s first year at sea to fine tune the design for the next build. The Brightlingsea yard has recently started work on a 20m SWATH OWSV for Dungeness-based Technical


When Will New Arctic Maritime Crossroad Open?

US Warship in Ice: Photo credit USN

Rear Adm. Jon White, 
Oceanographer & Navigator of the Navy, Director Task Force Climate Change, was tasked by the Chief of Naval Operations (CNO) Adm. Jonathan Greenert  to provide an unambiguous assessment of how ice coverage will change in the Arctic and how human activity in the


Crude Tanker Market: Could this be right?

VLCC rates of $60,000/day triggered a deeper dive in crude tankers, so DNB Markets (Shipping) looked into ~66,000 fixtures. With increased interest in the crude tanker segment coupled with spot rates approaching $60,000/day, DNB decided to dig deeper into alternative data sources


U.S. Navy Responds to Increased Arctic Activity

Los Angeles-class fast attack submarine USS Alexandria (SSN 757) is submerged after surfacing through two feet of drifting ice about 180 nautical miles off the north coast of Alaska. U.S. Navy photo by Shawn P. Eklund

The loss of seasonal sea ice in the Arctic will have ramifications for the U.S. Navy in terms of future missions, force structure, training and investments. To get a better handle on planning for future Arctic missions, Chief of Naval Operations (CNO) Adm


U.S. Navy Orders 100 HSMSTs from Silver Ships

Photo: Silver Ships

Silver Ships, Inc. said it has been awarded a firm-fixed price, indefinite-delivery/indefinite-quantity multiple award contract for the construction of High Speed Maneuverable Surface Targets (HSMSTs). The U.S. Navy maintains an inventory of HSMST’s to be utilized mainly for weapon system


Flexible Pipe Specialist on Pace for £1Million in First Year

FlexTech Engineering Director, Craig Keyworth

Flexible pipe specialist FlexTech said it has surpassed its first year turnover target of £500,000 just six months after start-up and anticipates reaching £1million by the end of the year. Flexible pipe expert Craig Keyworth established the Aberdeen-based company in March of this


Khalifa Port Handles a Million TEU’s in First Year

Port Kalifa celebration: Photo credit ADPC

Abu Dhabi Ports Company (ADPC) and Abu Dhabi Terminals (ADT) say that a million TEU containers have been handled at Khalifa Port since its commercial opening. Khalifa Port began commercial operations at the end of last year when all container traffic was transferred from the city centre port


Inmarsat to Acquire Globe Wireless

Inmarsat, a provider of global mobile satellite communications services, announced the acquisition of the business and substantially all of the assets of Globe Wireless LLC. Headquartered in Palm Bay, Florida, Globe Wireless is a leading provider of value-added maritime communications services to


Inmarsat Complete Globe Wireless Acquisition

Globe Fusion diagram: Image courtesy of Inmarsat

Inmarsat inform that the US$45-million deal to buy Globe Wireless, the Florida-based provider of value-added maritime communications services to the shipping market, has been finalised. Inmarsat has confirmed that it has completed regulatory and other approvals in relation to its purchase of


Euronav Completes Maersk VLCC Financing

A Maersk VLCC: Photo courtesy of Maersk Tankers

In early January 2014, Euronav announced the acquisition of 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million (USD), the executive committee of Euronav NV now announce that  it has issued a $235 million seven-year bond to


 
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