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.
The collapse of Baltimore's Key Bridge has highlighted what engineers say is an urgent need to better protect the piers holding up spans over shipping channels as the size of cargo ships has grown in recent decades.Federal authorities continue an investigation into why a massive cargo ship lost power and crashed into a pier of the Francis Scott Key Bridge early Tuesday
The U.S. Department of Transportation’s Maritime Administration (MARAD) on Wednesday announced $8.75 million in grant awards to 15 small shipyards in 12 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace.
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.
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices.
DDG 125 is named for Pfc. Jack Lucas, who served in the U.S. Marines during World War II, earning the Medal of Honor for his heroism at Iwo Jima, when he was just 17 years old. He is the youngest Marine, and the youngest service member in World War II, to be awarded the United States' highest military decoration for valor. In 1961, he returned to military service as a captain in the U.S.
U.S. shipping company Overseas Shipholding Group (OSG) has set out to design a new vessel that will transport liquified carbon dioxide (LCO2).In April, the Tampa, Fla.-based company was awarded a $3 million grant from the U.S. Department of Energy for engineering and design work in support of the project.
Marine Towing of Tampa announced it is expanding its ship assist services to Florida's east coast following a deal with E.N. Bisso & Son to acquire towing assets formerly owned by SEACOR Holdings' Seabulk arm.In September 2023, SEACOR divested its U.S. harbor towing operations, selling to Bisso 12 tugs across ports in Florida and Alabama.
UK-based Harland & Wolff Group said Tuesday that its recently opened Miami-based office had been awarded its first contract for circa $1.5 million.Under the contract, the company will support TampaShip - part of the Edison Chouest Group, based in Tampa, Florida - in the completion of the construction of a floating dock for the Bollinger shipyard facility in the Gulf of Mexico.
The U.S. Navy's first Flight III Arleigh Burke-class guided-missile destroyer Jack H. Lucas (DDG 125) departed HII’s Ingalls Shipbuilding division Tuesday. DDG 125 will be commissioned October 7, 2023 at a ceremony in Tampa, Fla., before sailing to its homeport in San Diego.“Watching Jack H.
Kinder Morgan KMI.N on Wednesday said its Port Manatee, Port Sutton and Tampaplex terminals in Florida sustained minimal damage due to Hurricane Idalia, and that it was also planning to shut its Charleston area terminals later in the day.The U.S. energy company said it was planning to reopen the terminals on Thursday