Tanker operator International Seaways Inc said on Wednesday it will buy Diamond S Shipping Inc for about $416 million, as it aims to expand its crude shipping capacity and create one of the largest U.S.-listed tanker companies.Diamond S shareholders will receive $10.17 per share, or 0.
Israel-based international defense electronics company Elbit Systems has signed an agreement to buy maritime defense contractor Sparton for $380 million. Elbit said Wednesday that its U.S. subsidiary Elbit Systems of America had signed a definitive agreement with an affiliate of Cerberus Capital Management, L.P. for the acquisition of Sparton. Sparton Parent, Inc.
Marine salvors on Wednesday outlined plans to recover the Marconi wireless telegraph from inside the RMS Titanic after being cleared by a U.S. judge in May to retrieve a piece of history from the world's most famous shipwreck.Originally scheduled to embark on the mission to recover the system this summer
The Hibernia oil platform in Canada was shut after a leakage of drilling and production fluids, the Hibernia Management and Development Co (HMDC) said late Monday.Hibernia sits roughly 315 km (200 miles) east of St. John's, Newfoundland and Labrador. ExxonMobil owns the largest stake in the oil platform, followed by Chevron Canada and Suncor Energy Inc.
ST Engineering North America, Inc. announced Monday that Robert "Bob" L. Merchent has been named President and CEO of VT Halter Marine, Inc. He replaces outgoing President and CEO, Ron Baczkowski.Much of Merchent's career was spent at Ingalls Shipbuilding, where he advanced through multiple positions of ever-increasing responsibility, leading programs critical to both the business and the U.S.
Amazon.com Inc Chief Executive Jeff Bezos has picked British startup Beacon, a digital freight forwarder, for his latest investment.Beacon said on Sunday it raised over $15 million in Series A fundraising, from investors including Bezos and venture capital firm 8VC.The startup, formed by two former Uber Technologies Inc executives two years ago
Several companies within Japan's NYK Group have partnered to test the remote navigation of a tugboat in Tokyo Bay.The tugboat, operated by NYK's Shin-Nippon Kaiyosha Corporation, was equipped with a manned remotely controlled system and put to the test by NYK and its group companies MTI Co. Ltd., Keihin Dock Co. Ltd., and Japan Marine Science Inc. (JMS).
The wreck of one of the U.S. Navy's longest serving battleships has been found 15,400 feet beneath the surface about 65 nautical miles southwest of Pearl Harbor, researchers said Monday.The USS Nevada (BB-36), which served in two world wars over the course of a career that spanned more than three and a half decades, was discovered by underwater and terrestrial archaeology firm SEARCH, Inc.
On April 28, 2020, the Federal Maritime Commission (FMC) released the long-awaited interpretive rules in Docket No. 19-05 relating to how ocean common carriers may lawfully apply demurrage and detention charges to exporters, importers and ocean transportation intermediaries, including Customs brokers in certain circumstances and still be compliant with the “reasonableness” requirement of 46 U.S.
Metal Shark announced Monday its Bayou La Batre, Ala. shipyard has delivered its first newbuild, a 120’ x 35’ river towboat for Florida Marine Transporters, Inc. (FMT) of Mandeville, La.The four-decked, welded-steel, USCG Subchapter “M”-compliant towboat Stephanie Pasentine, which bears the distinction of being Louisiana-based Metal Shark’s first-ever steel newbuild and also its first inland
Two dozen small shipyards in the U.S. have received a combined $19.6 million through the U.S. Department of Transportation’s Maritime Administration (MARAD) Small Shipyard Grant Program to help fund upgrades and expansions that often lead to more competitive operations, quality ship construction and improved employee skill.“This $19.
Small shipyards in the U.S. are critical to the nation’s maritime operations and economic security. Typically family-owned and employing less than 1,200 workers, America’s small shipyards support more than 400,000 jobs, employ more than 100,000 Americans directly and contribute tens of billions in gross domestic product, according to the U.S.