Maritime Partners, LLC, through its managed funds, has acquired from J. Russell Flowers, Inc. and its affiliates, a diversified portfolio of over 1,000 marine vessels operating on bareboat charter. JRF’s fleet includes a variety of towboats, tank barges, hopper barges, and deck barges.
Investment firm Stonepeak said on Monday it would buy Teekay LNG Partners in a deal worth $6.2 billion, as it looks to take advantage of rising global demand for LNG amid a push towards cleaner sources of energy.Prices of the benchmark U.S. natural gas contract have been on the rise, hitting seven-year highs recently. On Monday, the front-month gas futures contract was up 6.3% at $5.
Saildrone Inc. and NOAA have released the first video footage gathered by an uncrewed surface vehicle (USV) from inside a major hurricane barreling across the Atlantic Ocean.The Saildrone Explorer SD 1045 was directed into the midst of Hurricane Sam, a category 4 hurricane. SD1045 is battling 50 ft.
A record 60 container vessels are at anchor or adrift in the San Pedro Bay, waiting to be unloaded at the Port of Los Angeles/Long Beach seaports and another 20 are due to arrive in coming days, a port executive said on Wednesday.With the pandemic still raging around the world, U.S.
The U.S. Coast Guard on Monday said it was probing nearly 350 reports of oil spills in and along the U.S. Gulf Coast in the wake of Hurricane Ida.Hurricane Ida's 150 mile per hour (240 kph) winds wreaked havoc on offshore oil production platforms and onshore oil and gas processing plants.
International Seaways, one of the world's oil largest tanker operators, petroleum products, has completed the previously announced merger with Diamond S Shipping Inc. The combined company will continue to operate as International Seaways and trade on the New York Stock Exchange under the symbol INSW.
Danielle Doggett, founder and CEO of SailCargo, updates the project to build Ceiba, a true sailing cargo ship taking shape in the jungles of Costa Rica.Danielle Doggett and her co-founders have been on a mission since 2014 to prove the viability of truly emission-free shipping courtesy of the construction of its $4.2m flagship Ceiba, a three masted sailing cargo vessel being built in Costa Rica.
Salvors have raised the bow section of the liftboat Seacor Power, which overturned in heavy seas in the Gulf of Mexico in April.The Donjon-SMIT salvage team lifted the bow section to the surface of the water and transported it by barge on Saturday to the Modern American Recycling Services, Inc. (M.A.R.S.) facility in Houma, La.
Bouchard Transportation Co. Inc. and three former and current management officials from the Long Island-based petroleum barge company have paid $375,000 in restitution to the brother of one of two seamen killed in a 2017 barge explosion off Port Aransas, Texas.The seaman alleged the company fired him for cooperating with investigators and reporting safety concerns to the U.S.
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.
Northeast Technical Services Co., Inc. (NETSCo) and Lloyd’s Register North America, Inc. (LR) are working to design and develop a Jones Act compliant wind turbine installation vessel (WTIV) capable of serving the burgeoning U.S. offshore wind sector.The current pipeline of state procurement targets along the U.S. East Coast calls for 12 gigawatts of offshore wind capacity installed by 2030 and 29.