Eagle Bulk Enters Forbearance Agreement
Eagle Bulk Shipping Inc. announced that it has entered into a waiver and forbearance agreement with certain lenders under the company's fourth amended and restated credit facility, effective March 19, 2014. Subject to the company's compliance with certain terms, conditions and milestones as set forth in the waiver, the lenders have agreed to waive until June 30, 2014, any potential events of default related to…
Fassmer Orders Three WhisperPower Systems
New WhisperPower systems have been ordered by the Fassmer yard in Northern Germany for there rescue vessels for the Deutsche Gesellschaft zur Rettung Schiffbrüchiger, DGzRS. The order concerns a contract for three keel-cooled M-SQ27 1500 rpm diesel generators with SYMAP generator control for central monitoring and synchronizing with shore power and the main generator. When the vessel disconnects from the shore power…
DNV GL Opens New Vietnam Office
DNV GL announced that it has moved into a new office that was officially opened by His Royal Highness Crown Prince Haakon of Norway and Henrik O. Madsen, Group President & CEO, DNV GL. The official ceremony was part of the program of the Norwegian trade delegation visiting Vietnam this week. Besides the Crown Prince, the Norwegian Minister of Trade and Fisheries, Monica Mæland also attended the inauguration ceremony. DNV GL has had a presence in Vietnam since 1995.
Handling Tug Meets the Sea at Uzmar
On February 21, 2014, Uzmar Shipyard, also known as “Workboat and Tug Factory” of Turkey, held a launching ceremony for the KOC MUSANED-2, the second of total 6 line handling tugs being built for Kuwait Oil Company’s tug fleet. These 20 m compact boats are reputed to be the smartest tug of its class by the designer Robert Allan Ltd. The ceremony was held in the presence of Sami Al-Sawagh as the KOC Team Leader…
AVEVA Showcases Industrial Gaming Software
AVEVA Activity Visualization Platform is featured at the Fiatech Technology Conference and Showcase 2014. AVEVA will be showcasing its unrivalled industrial gaming software AVEVA Activity Visualization Platform (AVEVA AVP) at the Fiatech Annual Technology Conference and Showcase, March 21-April 2, 2014 at the Hyatt Huntington Beach Resort in California. AVEVA AVP transforms operator training by enabling users to create immersive…
CG Saves Pair from Stricken Yacht
Two foreign nationals are now placed into safety by the Philippine Coast Guard after sustaining minor injuries from an incident while sailing east of Basterra Reef, Palawan. American citizen Capt Linda Mckeever, 60 years old, and Rene Menz, 47 years old from Palau, were onboard S/V Creola when they were found and rescued by a passing fishing vessel, FV Mighty One, yesterday at around 5:30AM approximately 47NM southwest of South Islet, Tubbataha, Palawan.
State leaders christen first Olympic-class ferry at Vigor
State elected, transportation and manufacturing leaders were on hand today to celebrate the christening of the state’s first 144-car Olympic Class ferry, the M/V Tokitae, at Vigor Industrial’s shipyard in Seattle. Lynn Peterson, Washington’s Secretary of Transportation, served as the ship’s sponsor and broke a bottle to christen the new ferry before a crowd of more than 200 people. Speakers at the ceremony explained that the vessels will ensure safe…
Ocean Rig Prices Its US$500-Million Note Offering
Offshore deepwater drilling services provider Ocean Rig informs that the pricing of its previously announced offering has been priced at 100% of par, with a stated interest rate of 7.250%. The Notes are being sold in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act.
KVH Launches New Marine Satellite TV Antennas
KVH Industries, Inc. informs it is introducing the TracVision TV-series, a powerful family of fully stabilized marine satellite television antenna systems designed to provide superior performance, including HDTV, for worldwide satellite TV entertainment at sea. TracVision TV1, TV3, TV5, and TV6 – the four systems that make up the TracVision TV-series – are unveiled at the Palm Beach International Boat Show in Palm Beach…
Aquatic Completes First Carousel Project
Aquatic Asia Pacific Pte. Ltd, an Acteon company and subsidiary of Aquatic Engineering & Construction Ltd, inform it has successfully completed its new carousel, the AQCS-01-1500 maiden project. Aquatic partnered with integrated subsea services provider Kreuz Subsea on the project. The carousel was successfully used to install 9.7km of 218mm diameter umbilical in the South Belut field offshore Indonesia for ConocoPhillips.
Neptune Maritime Security Adds to Asia Area Staff
Neptune Maritime Security says that Graham Storey has joined its team representing Asian and South East Asian clients. Graham has a wealth of experience in the shipping industry in Singapore and will be working closely with Neptune’s representatives in Japan and Asia. Additionally, Neptune has moved its ISO 9001:2008 certification to LRQA, who certified the company to ISO PAS 28007 in January this year.
AAPA Upcoming Spring Conference: Ex-Im Bank Chairman to Speak
The American Association of Port Authoritiesred (AAPA) informs that Fred. P. Hochberg, chairman and president of the U.S. Export-Import Bank, has agreed to serve as the luncheon presenter on Tuesday 25, March at its 2014 Spring Conference in Washington, D.C. Mr Hochberg's presentation will follow a number of other high profile speakers, including U.S. Sen. Barbara Boxer, chairman of the Senate Environment and Public Works Committee; U.S. Rep.
Alaska Packs Powerful Maritime Economic Punch: New Study
A recent study for the Transportation Institute by PricewaterhouseCoopers (PwC) revealed that Alaska is a major domestic maritime state, ranking third among all American states for domestic maritime industry economic impact. The American domestic maritime industry includes vessel operators, marine terminals, shipyards, and workers engaged in the movement of cargo exclusively within the U.S. Alaska ranks #3 among all U.S.
FMC Commissioner Doyle Gives Qualified Thumbs Up to P3 Network
"I am in favor of not taking any further action to delay the implementation of the P3 Network Vessel Sharing Agreement," announced FMC Commissioner William P. Doyle. (The P3 Network Alliance consists of container shipping companies A.P. Moller-Maersk A/S trading under the name of Maersk Line, CMA-CGM S.A. and MSC Mediterranean Shipping Company, S.A.). "I have reviewed all the comments submitted by the public…
LEEVAC Shipyard Launches PSV for Aries Marine Corp.
LEEVAC Shipyards Jennings, Louisiana, inform of the successful 'splash' launch of the Platform Support Vessel (PSV) 'M/V Ram Nation', pictured here. The Ram Nation is a LEEVAC-designed 270 ft., diesel-electric, DPS-2, FI FI 1 Platform Supply Vessel that will be certified for worldwide operations. Chris Vaccari, owner and CEO of Leevac, explained that the Ram Nation is the first of four LDS-designed vessels currently under construction.
Corvus Energy Systems Get More Scandline Hybrid Ferry Orders
Corvus Energy informs it has again been selected as the Energy Storage System (ESS) of choice by Scandlines for their next three hybrid ferries. Based on successful operation of Scandline’s first hybrid, the 'MF Prinsesse Benedikte', the next 3 hybrids will use a 2.7MWh ESS consisting of Corvus Energy AT6500 advanced lithium polymer batteries integrated with Siemens drive systems. Corvus add that the ferries M/V Deutschland…
Tanzania: The Next Hotbed of Construction & Energy Activity?
Representatives of Mammoet and other Dutch companies visited Tanzania to explore potential construction projects and investment opportunities in the East African country which has impressive growth rates and large stocks of underseas gas it is looking to develop. Tanzania is shaping up to be a big opportunity for Dutch companies that are active in energy, infrastructure and transport. Mammoet, Shell…
IRPT: Missouri River Showing Progress
Inland Rivers, Ports and Terminals (IRPT) has anounced the newly formed working group “MO River Basin – Navigation Revitalization Committee”, designed to increase freight traffic and business on the Missouri River. IRPT has encouraged and received cooperation with associated marine, economic development and trade organizations to promote the healthy growth and operation of ports, terminals and intermodal centers along the Missouri River to boost foreign and domestic commerce…
Höegh St. Petersburg Assists in Search for Missing Jetliner
Höegh Autoliners confirmed that the vessel Höegh St Petersburg was asked by the Australian Authorities to divert and assist in the search of the missing airplane MH370. The vessel followed the request and diverted towards the search area and has now reached the destination.
Topaz Revenue up 22%
Topaz Energy and Marine, a offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. for the 12 months ended December 31, 2013. The period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%. This growth is primarily attributable to the additional vessels that have joined the fleet and the improved utilization (94.5%) it achieved across its core fleet.
