Greece-based Onex Elefsis Shipyards announced that it will allocate up to $400 million, over a 15-year period, to purchase and finance the operation of the Elefsina Shipyards, west of Piraeus.The Greek shipyard said that the US investment firm Chatsworth Securities has agreed with it to make an investment, as part of efforts to save the complex from bankruptcy.
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
Huntington Ingalls Industries’ (NYSE: HII) Ingalls Shipbuilding division has received two fixed-price incentive contracts from the U.S. Coast Guard to build two additional National Security Cutters for the U.S. Coast Guard. The contract values for the a 10th and 11th ships in the program are $468.75 million for NSC 10 and $462.13 million for NSC 11.
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.
European energy giant Vattenfall opened Scandinavia’s largest offshore wind farm, Horns Rev 3.The 49 wind turbines on the Horns Rev 3 also represent Vattenfall’s and Denmark’s largest offshore wind farm, which is located 25-40 kilometers off Denmark’s west coast in the North Sea.Yesterday (22 August 2019)
The Coast Guard has transitioned from pollution response to the investigation phase of a major marine casualty that occurred July 5, 2019, involving three vessels that sank in the Illinois River near Hardin, Illinois.Coast Guard Sector Upper Mississippi River received a report of three tugboats and a deck barge that were tied together and began taking on water at mile marker 20.
NOIA President Randall Luthi issued the following statement after Dominion Energy and its partner Ørsted began construction of the Coastal Virginia Offshore Wind (CVOW) Project:“NOIA congratulates Dominion Energy for starting construction on the Coastal Virginia Offshore Wind Project (CVOW) — the first federal and second overall U.S. offshore wind project.
U.S.-flag Great Lakes freighters (lakers) moved 8.6 million tons of cargo in November, a virtual repeat of a year ago. The November float was also a near carbon copy of the month’s 5-year average.Iron ore cargos for steel production totaled 4.6 million tons, an increase of 9.6 percent compared to a year ago.Coal loads totaled 1.3 million tons, again little changed from a year ago.