Associated Terminals runs an impressive mid-stream cargo handling operation on the Lower Mississippi River, unloading bulk carriers with high-efficiency cranes loading a carousel of barges. Maritime Reporter & Engineering News/MarineLink.com spent some time with Todd Fuller, President, Associated Terminals to discuss the operation.
Like the magic carpet of ancient myth, air caster technology has revolutionized the way in which heavy payloads can be moved in a cost effective and efficient way — floating on air. Developed post-World War II by engineers at General Motors, air casters were later modified and improved for the construction of the iconic Boeing 707 in the early 1960s.
German lender Norddeutsche Landesbank (Nord/LB) has completed the sale of a EUR 2.6 billion (USD2.9bln) shipping loan portfolio. The bank recently announced its withdrawal from shipping.A US hedge fund Cerberus Capital Management took over the portfolio, which comprises of the 263-vessel book - known as "Big Ben" - with a non-performing loan (NPL) portion of some 90%.
The provider of comprehensive services to oil and maritime companies, Chet Morrison Contractors (Morrison) has acquired two pipelay/construction barges and a saturation diving system from an undisclosed seller in a move to double the size of its pipelay barge fleet.Louisiana based energy services company said in a press release that the first asset it acquired is LB Super Chief
Washington-based boat builder Armstrong Marine said it has delivered a new 42’ x 16’ catamaran research vessel, Benthic Cat, to Orca Maritime, Inc. following launch and sea trials in Port Angeles Harbor. The vessel will enter service immediately, beginning with a week-long operation around San Clemente Island.
Britain's Royal Navy said on Monday one of its warships had helped to seize a batch of crystal meth worth more than 3.3 million pounds ($4.3 million) from smugglers in the Gulf of Oman.HMS Defender, a destroyer based at Portsmouth, southern England, sent a party to search a suspicious dhow as it conducted reconnaissance in the northern Arabian Sea.
Top Ships, a provider of oil, petroleum products and chemicals transportation services, has concluded a financing agreement with an undisclosed Chinese financier to refinance one of its MR2 tankers.The Greek tanker owner and operator said in a press release that the gross proceeds from the new financing amount to $25.
Cash-strapped livestock shipper, Wellard Limited has agreed to sell its Ocean Swagman vessel to major shareholder Heytesbury Holdings for $US22 million ($31.3 million).Australia's largest live export company said in a stock exchange announcement that Ocean Swagman has a capacity of 7,000 cattle or 26,000 sheep.
The largest German bulk carrier company Oldendorff Carriers GmbH, which operates around 700 ships, said that its Lydia Oldendorff (207,562 tdw built 2015) has set a record as the largest vessel to load coal at Puerto Bolivar, Colombia.The Newcastlemax vessel has a length of 300 meters and a breadth of 50 meters and was loaded on a trial cargo draft of 17.5 meters.