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
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.
Wave-generated power could be considered the Rodney Dangerfield of offshore renewable energy sources; it gets no respect. There have been a number of high-profile, expensive failures that have conspired to give the sector a poor reputation despite a number of engineering advances. A new entrant is SurfWEC offering a patented “surf-making” Wave Energy Converter which has been in development since
A U.S. government auction for three wind leases off the coast of Massachusetts ended on Friday with record-setting bids totaling more than $400 million from European energy giants including Royal Dutch Shell Plc and Equinor ASA.The Bureau of Ocean Energy Management (BOEM) announced the sale's three winners - Equinor Wind US LLC, Mayflower Wind Energy LLC, and Vineyard Wind LLC
Kirby Corporation has announced the signing of an agreement to acquire substantially all of CGBM 100, LLC's inland marine tank barge fleet for an undisclosed amount.Under the terms of the agreement, Kirby will acquire 27 of CGBM's 10,000 barrel inland marine tank barges which have a total capacity of approximately 270,000 barrels.
On July 29th, New Zealand’s Ports of Auckland signed a contract with the Damen Shipyards Group for the delivery of an innovative new vessel. The RSD-E Tug 2513 will be the first fully-electric ship-handling tug in the world with 70 tonnes bollard pull. The vessel completes the green cycle of energy in the port with its unrivaled performance in sustainability.
Credit rating agency Moody’s warned on Thursday that global economic growth was likely to slow in the next two years and that it expected the trade war between the United States and China to escalate further."We expect global growth to slow to under 3.0 percent in 2019 and 2020, from an estimated 3.3 percent in 2017-18," the agency said in a new report.
Damen Shipyards Group has recently signed a contract for the delivery of a pontoon to France-based company, Marc SA. The contract is a significant one for Damen, being the 100th order for a pontoon since the company opened its dedicated Pontoons & Barges product department in 2010.
Transport Canada has issued a $6,000 fine to a vessel that allegedly breached mandatory speed limits introduced by the federal government in parts of the Gulf of St. Lawrence to protect endangered North Atlantic right whales, Transport Minister Marc Garneau announced.Endangered whales such as the majestic North Atlantic right whale deserve to swim danger-free in Canadian waters.
Former port of Le Havre managing director Hervé Martel has started work as interim managing director of the Marseille Fos port authority following his nomination by the French transport minister. His appointment is now due to be officially ratified by the leading French port’s supervisory board.
Medcenter Container Terminal SpA (MCT), which operates a major transshipment hub for the Mediterranean region, has placed an order for 32 diesel-electric straddle carriers. The delivery of all machines scheduled to be completed by the end of Q4 2019. MCT is located in the southern Italian port of Gioia Tauro, a mega-port able to handle the largest vessels deployed on the Asia-Mediterranean routes.