Denise Rucker Krepp, former Maritime Administration Chief Counsel who currently advocates on behalf of the U.S. domestic ship recycling industry, issued a statement at the Coast Guard Shipping Coordinating Committee Meeting March 12, 2014, in…
As a newly appointed yacht broker at Pacific Boats & Yachts, Captain Tom Britton brings a wealth of experience to his new position, including owning a yacht dealership in Washington for ten years, selling Catalina Sailboats, Monk Trawlers and a wide variety of used sail and powerboats…
International Yacht Collection (IYC) announce that Terry Hines, Charter Marketing Director, has been named as the Florida Yacht Brokers Association (FYBA) Charter Professional of the Year for 2013. The prestigious award is presented during FYBA’s…
Teekay Offshore GP LLC., the general partner of Teekay Offshore Partners L.P. announced that it has agreed to issue 1.75 million common units in a private placement to an institutional investor for proceeds of approximately $53.4 million (excluding…
Son of Correct Craft Founder to be Honored During IBEX 2013 Industry Breakfast. Ralph Meloon of Correct Craft will receive the National Marine Manufacturers Association’s (NMMA) highest honor when inducted into the NMMA Hall of Fame. Meloon’s…
Vard Holdings Limited secured contracts with joint ventures of DOF Subsea and Technip for the design and construction of four Pipe Lay Support Vessels (PLSVs), a contract which is the largest order in VARD’s history, with an aggregate order value of approximately $ 1…
The flood of interest in ordering new container vessels is motivated by other factors than supply and demand.The recent surge in new vessel orders at a time of industry-wide overcapacity suggests that market fundamentals are no longer the main driver (see figure)…
Bellzone Mining's joint venture Forecariah has sold a trans-shipping vessel for $8.9m (£5.8m). An in-depth analysis into the operational efficiency of the Forecariah operations showed that the ship was neither an operational requirement nor a material economic benefit…
Maersk Tankers exits Very Large Gas Carrier (VLGC) segment by selling its fleet to the BW Group.The BW Group buys Maersk Tankers five owned vessels and takes over the five existing time charter commitments, which Maersk Tankers explains is…
In related recent announcements Ultrapetrol (Bahamas) says it intends to offer secured Notes, & has completed the sale of 7 barges.Ultrapetrol (Bahamas) an industrial transportation company serving marine transportation needs in three markets (River Business…
The company's subsidiary Otto Shipyard has sold ROV Support Vessel 'Otto Explorer 3' for US$50-million.The Board of Directors of Otto Marine Limited announce that the earlier proposed sale of the Multi-purpose Field Support and ROV Support Vessel…
Jarvis, a 378-foot High Endurance Cutter homeported in Alameda, decommissioned and transferred to the Bangladesh navy as the BNS Somudra Joy.The signing over ceremony took place on Coast Guard Island in Alameda.A 20-member team from the Bangladesh navy…
Hercules Offshore agrees sale of 11 inland barge rigs, which includes three active rigs, eight cold stacked rigs and related assets (Inland Asset Package) for cash proceeds of approximately $45 million.Excluded from the 'Inland Asset Package' are the Hercules 27…
Delaware's Vessel Management Services, Inc. has sold their twin-screw tug “Sinuk” to King River LLC of Palmer, Alaska.The 85.8’ x 28.5’ x 10.0’ depth, model bow tug was built in 1995 by J. Ray McDermott Shipyard in Morgan City, Louisiana. The tug…
Maersk Line has purchased & is reflagging 8 newer and larger containerships to upgrade services provided to its U.S. military, government and commercial customers.MLL's investment of approximately half a billion dollars in eight vessels will…
