New Jersey-based Rand Logistics announced it has entered into a stock purchase agreement to acquire rival Great Lakes shipping company American Steamship Company (ASC) from Chicago-based GATX Corporation for $260 million.Headquartered in upstate New York, ASC operates the Lakes' largest U.S.
Norwegian technology firm Kongsberg announced it will install and test autonomous ship technologies on two vessels in Europe's inland waterways and short sea coastal shipping routes.The AUTOSHIP project will aim to test and further develop key technology linked to fully autonomous navigation systems, intelligent machinery systems, self-diagnostics, prognostics and operation scheduling
The United States Coast Guard Marine Safety Alert 06-19 (USCG MSA 06-19) outlines a February 2019 incident aboard a deep draft commercial vessel that called on the Port of New York / New Jersey after experiencing a significant cyber incident that impacted their shipboard network. The Safety Alert stated in part:“An interagency team of cyber experts, led by the Coast Guard
The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and more flexible way to import natural gas to power-constrained places
In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance
“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level.
Genscape Maritime’s Vessel Coverage of U.S. Inland Waterways offers new perspectives and a leg up on the competition. In today’s transportation markets, information is everything.It was back in 2016 that Genscape announced the complete integration of more than 400 terrestrial AIS antennas in North America, providing an impressive level of data accuracy and visibility into ship movements in the U.
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced $19.6 million in grants to support capital improvements at 28 U.S. small shipyards as a part of its Small Shipyard Grant program. The grants enable small shipyards to modernize equipment and processes to fuel future growth.
Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port.
The Dubai-based Tristar Group announced that it has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korea shipbuilder, Hyundai Mipo Dockyard.The vessels will be delivered between the middle of May 2020 till the first week of January 2021, said a press release from the fully integrated liquid logistics solutions provider.
The Commandant of the United States Coast Guard delivered his first State of the Coast Guard address Thursday at Coast Guard Base Los Angeles-Long Beach in San Pedro.Speaking from the largest port in the nation, Adm. Karl Schultz highlighted Coast Guard security and marine safety operations, which facilitate $4.6 trillion in annual economic activity.
Danish international shipping and logistics company DFDS said that Niels Smedegaard, longtime CEO, will step down by the end of April. Current CFO Torben Carlsen will take over as new CEO.In close partnership with Niels Smedegaard, Torben Carlsen has been in-strumental in making DFDS a larger