Davie, a leader in icebreaker and specialized vessel construction, announced plans to acquire shipbuilding assets in Galveston and Port Arthur from Gulf Copper & Manufacturing Corporation — marking a major step toward revitalizing large-scale shipbuilding of icebreakers in the United States. The move underscores growing momentum behind domestic production of ice-capable vessels and aligns with U.
KR (Korean Register) signed a Memorandum of Understanding (MoU) with HD Hyundai Heavy Industries (HD HHI) to jointly develop a very large ethane carrier (VLEC).The new VLEC to be developed under the partnership will have a cargo capacity exceeding 100,000 m3.It will be designed to maximize cargo volume while minimizing changes to the main specifications of conventional vessel designs.
Louis Dreyfus Armateurs (LDA) and InfraVia, a private equity company in Europe, have entered into exclusive negotiations for InfraVia to acquire a majority stake in LDA, a group specializing in high value-added industrial marine services.LDA currently specializes in three growing segments, transportation and logistics of industrial equipment, mainly through dedicated Ro-Ro vessels
The Coast Guard announced immediate action on executive orders issued by the White House Tuesday.“The U.S. Coast Guard is the world’s premiere maritime law enforcement agency, vital to protecting America’s maritime borders, territorial integrity and sovereignty,” said Adm. Kevin Lunday, the Coast Guard’s acting commandant.
HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.
International shipping company Hapag-Lloyd raised its full-year earnings guidance on Thursday citing stronger-than-expected demand and higher freight rates.Despite increased expenses from the diversion of vessels around the Cape of Good Hope, Hapag-Lloyd says it now expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2024 of between $4.
Canadian shipbuilder Davie announced it has appointed Maxie Lafleur as president, bringing in a business executive from outside the shipbuilding sector to help drive growth.A Montréal native, Lafleur brings a wealth of experience in digital transformation, growth strategies, change management, mergers and acquisitions, and business development, both in Canada and abroad.
Italian Navy divers have recovered video surveillance equipment from the superyacht that sank off Sicily last month, killing British tech tycoon Mike Lynch and six other people, a source close to the matter said on Friday.The recovery of the equipment could help explain why the British-flagged Bayesian went down during a severe and sudden storm off the port of Porticello, near Palermo, on Aug.
Danish shipping company Norden said on Tuesday that it has closed its acquisition of Nordic dry bulk operator Norlat Shipping.The deal was announced in July but remained subject to regulatory approvals. Financial terms were not disclosed. “We are delighted to have received the green light for the acquisition last week and with the closing of the acquisition today we look forward to welcoming the
The Arab Shipbuilding and Repair Yard Company (ASRY) announced that Dr. Ahmed AlAbri has been appointed the new chief executive officer (CEO) of the shipyard, effective August 2024.AlAbri has more than 25 years of experience in the field, having served a variety of executive roles in the regional maritime industry.
Italian state-controlled shipbuilding giant Fincantieri announced public finance expert Biagio Mazzotta has been appointed as chairman of its board of directors. The move follows the untimely death of General Claudio Graziano, who had been appointed in May 2022.Mazzotta's appointment comes at the recommendation of shareholder CDP Equity S.p.A.
Canada's largest shipbuilder, Davie, on Monday announced it will establish a shipbuilding presence in the United States.The Quebec-headquartered company's investment in a U.S. shipyard remains subject to final site and partner selection, Davie said in a statement.The move coincides with actions announced by the U.S. government to boost the competitiveness of the U.S.