Long Island-based barge operator Bouchard Transportation has filed for Chapter 11 bankruptcy after several years fraught with legal and financial difficulties.The family-owned oceangoing tug and petroleum barge firm filed alongside several of its subsidiaries Monday in the U.S. Bankruptcy Court for the Southern District of Texas.
Singapore has maintained its position as the world's top shipping hub for the seventh year straight, according to a report published by the Baltic Exchange and Chinese state news agency Xinhua.The Xinhua-Baltic International Shipping Center Development (ISCD) Index, now in its seventh edition
Shipbuilder Austal Australia has been awarded a A$324 million (US$209.8 million) contract to design and construct six evolved Cape-class Patrol Boats (CCPBs) for the Royal Australian Navy.It is the largest contract for an Australian vessel construction program ever awarded to Austal in the company’s 30-year history.
Inland Dredging Company helps keep commerce flowing on America’s inland waterway system.Dyersburg, Tenn. based Inland Dredging Company completed dredging projects spanning eight states and across four U.S. Army Corps of Engineers Districts. Beginning in July and finishing in December (2019), Inland Dredging crews dredged ports and harbors along the Mighty Mississippi River, Ouachita River
Halter Marine unveiled its new PythonX plasma cutter as the Pascagoula, Miss. shipbuilder adds new equipment to gear up for construction of the U.S. Coast Guard’s Polar Security Cutter (PSC).The newly acquired Lincoln Electric PythonX will allow for steel parts to be cut via computerized numeric control (CNC) driven by the yard's 3D production design models
The Scottish Maritime Museum has successfully bid for an 80-year-old bottle of whisky salvaged from one of Scotland’s most famous shipwrecks and the inspiration for the Ealing Studio comedy Whisky Galore!The unlabelled bottle of blended whisky from the 1923 SS Politician, which ran aground off the Isle of Eriskay in 1941
Ship maintenance and repair company ST Engineering Halter Marine and Offshore, Inc., said it is investing $10 million to expand at its Pascagoula, Miss. site, adding 100 jobs in the process.STEHMO, along with its sister company VT Halter Marine, is growing as a result of recent market opportunities.
The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2020, according to data released by the Baltic Exchange.Tanker Forward Freight Agreement (FFA) volumes were up 31% on the previous year, reaching 603,261 lots, with a daily record of 33
Pascagoula, Miss. shipbuilder Halter Marine is creating jobs, and through its partnership with Mississippi Gulf Coast Community College (MGCCC), training the apprentices to fill them. The recently launched apprenticeship program is designed in three components: on-the-job training, classroom training and a progressive wage increase as participants reach set milestones.
Rolls-Royce and the Defense Production Act Title III office will invest millions of dollars to upgrade the company’s capability and capacity for U.S. Navy ship propulsion components in its facility in Pascagoula, Miss.The DPA Title III office has already agreed to invest $22 million for equipment, with Rolls-Royce making an additional investment for building improvements
Mobile, Ala. shipbuilder Austal USA said it has been awarded a modification to previously awarded contract with a total potential value of $43,362,000 by the U.S. Department of Defense. This contract was modified to exercise the options for Littoral Combat Ship (LCS) Class design services, material to support LCS Class design services, and the Integrated Data Product Model Environment (IDPME).
The Baltic Exchange’s subsidiary, Baltic Exchange Information Services Ltd (BEISL), has been authorized by the UK’s Financial Conduct Authority (FCA) as a benchmark administrator under EU Benchmark Regulation. This means that the Baltic Exchange’s daily dry bulk, tanker and gas freight indices are regulated by an EU National Competent Authority.