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.
Japanese shipping and logistics company Nippon Yusen Kabushiki Kaisha (NYK) has placed an order to build a second LNG-fueled pure car and truck carrier (PCTC) with Shin Kurushima Dockyard Co.The shipbuilding contract was signed at NYK’s head office on January 31. The vessel is scheduled to be delivered in 2022 and will become NYK’s second LNG-fueled PCTC.
When I came into office as the Passenger Vessel Association’s President for 2019 last January, I announced two strategic goals for our industry: to enhance safety and foster the professional growth of our next generation of leaders. I am proud to announce we have undertaken major initiatives and made progress on each.
Make sure you know who you are really contracting with.A famous U.S. politician once insisted that “it takes a village to raise a child.” That said, any marine operator will tell you that it takes an even larger village and a ridiculous number of contracts to operate a vessel, and even more to manage a fleet of vessels.
“In God we trust. All others must have data.”When Ed Grimm took the helm of Southern Towing Company (STC)as President and CEO, he inherited an enviable team of leaders, engineers, mentors, communicators and analysts. Today STC is a clear leader on the inland waterways, pioneering and proving the business and safety value of Z-Drives on the river towboats.
Army veteran-turned-Royal Caribbean Cruise Line founder Edwin W. Stephan passed away on Friday at 87 years old."We at Royal Caribbean mourn his loss and extend our deepest sympathies to the Stephan family," said a statement from the global cruise company said.In 1969 Stephan founded the Royal Caribbean Cruise Line, and his contributions helped create the modern cruise industry we know today.
A Singapore company has paid a NOK 7 million ($763,000) fine after it was caught trying to illegally export a barge carrier vessel from Norway for scrapping on the beaches in Pakistan, Norwegian authorities said.In 2017, inspectors from the Norwegian Maritime Authority (NMA) detained the Harrier, previously named Tide Carrier
The 2019 version of the MarineNews MN100 edition - our annual look at the very best individuals and firms in the shallow draft, brown water and workboat sectors - has come and gone. Anchoring that prestigious list, as always, is R.W. Fernstrum & Company. That's no surprise to MarineNews readers.THE COMPANY:R.W.
“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.
The creditors of indebted French marine services company Bourbon reached a restructuring deal that would give them control of the company, protect jobs and draw new liquidity.Bourbon has been hurt by market overcapacity and a fall in spending on services by upstream oil and gas companies, but the deal with its creditors lifted its shares.
Tanker ship operator Uni-Tankers, part of the USTC group, has appointed Per Ekmann as its new CEO. “I’m both happy and proud to have the opportunity to lead the way forward at this important stage in the company’s history. Uni-Tankers is based on proud and strong values, and with the recent implemented changes, the foundation is in place to realise our strategy together with our skilled employees
Technology, from mobile to cloud to social media, have all had an enormous impact on the way companies operate and interact with their staff and customers. However, research from technology media company IDG, found that while 89% of companies plan to adopt a digital-first strategy, only 44% of them have actually done it.