Seattle-headquartered Saltchuk on Wednesday announced it has completed its acquisition of Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—previously OSG’s largest shareholder—said it completed a $950 million transaction to purchase all outstanding shares of OSG common stock at $8.
Big data, advanced computers and AI are allowing vessel designers to prepare models that leave essentially nothing to chance.“Lastly, it may be of considerable importance to form from the draught a block model of the vessel from which a still more accurate judgment may be formed of the fitness and beauty of the body.
Frank Manning has quickly risen through the ranks during his eight years in the shipyard business, today serving as president and COO at Diversified Marine, Inc. (DMI) in Portland, Ore. Crucial along the way has been a passion for the business itself and the people that make it all possible.“The first day I walked in a shipyard I knew that I was in the right industry,” Manning said.
Carnival Corp's Australian unit has been ordered to pay the medical expenses of a woman who contracted COVID-19, with a judge ruling that the cruise ship operator misled passengers about safety risks in a landmark class action ruling.The decision from Australia's Federal Court is the first class action win against a cruise ship operator in the world, according to Shine Lawyers
With clean energy projects maturing in U.S. waters, the nation’s offshore wind industry is poised to grow substantially, requiring a robust industrial base. A feedering model using domestic tugs and barges to transport turbines to offshore wind sites, is positioned at the heart of this emerging growth.
Hurricane Milton closed in on Florida's Gulf Coast on Wednesday, spawning tornados and lashing the region with rain and wind hours ahead of its expected landfall near Tampa Bay, where it could deliver a life-threatening surge of seawater to communities along the waterfront.Millions of people along a stretch of more than 300 miles (483 km) of coastline were under evacuation orders
For decades, submarines have been the apex predator, roaming the oceans largely unmolested, gathering intelligence, providing a sea-based nuclear deterrent, and conducting clandestine missions with impunity. As such, these versatile and lethal platforms have been highly sought after by navies around the world, and with advancements in underwater propulsion and quieting technologies
Eastern Shipbuilding Group (ESG) on Monday announced it has been awarded a contract to construct four new escort tugs for Saltchuk Marine's Foss Maritime. The vessels will be built at ESG’s Allanton and Port St. Joe facilities, in Florida, with delivery expected in 2026.The order marks the beginning of Saltchuk Marine’s long-term fleet renewal project
Hurricane Beryl barreled toward Jamaica as a powerful Category 4 storm on Tuesday after battering smaller islands in the eastern Caribbean, and scientists cited human-caused climate change as the likely culprit for the storm's rapid strengthening.The unusually early hurricane felled power lines and unleashed flash floods. It has so far claimed at least three lives.
Vancouver, Wash. based leasing company Tug Construction, LLC announced it is partnering with energy giant BP in a new joint venture offering Jones Act qualified tugboats for bareboat charter. The newly formed entity, Ursa Major Marine Holdings, LLC has acquired a tugboat from Tug Construction and has placed an order for two additional tugs from Portland, Ore. shipbuilder Diversified Marine, Inc.
Seattle-headquartered Saltchuk on Monday announced it has entered into a definitive agreement to acquire Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla., in a deal worth $950 million.Privately-held Saltchuk—OSG’s largest shareholder—said the transaction assigns OSG an aggregate equity value of approximately $653 million.
Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.