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After reporting a higher net loss in FY2020 compared to FY2019 impacted by decreasing revenues due to lower activity and project stoppages and delays caused by Covid-19, Singapore’s offshore construction specialist Sembcorp Marine expects losses to continue. In its financial report on Tuesday, Sembcorp Marine emphasised that no existing projects were cancelled due to the… Read More
CIT Group Inc. (NYSE: CIT) reports that its Maritime Finance business served as sole lead arranger on a $45 million financing for a portfolio of seven containerships. The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based value-oriented investment manager with substantial expertise is shipping assets. All seven… Read More
Maine Maritime Academy (MMA), Castine, Maine, has a hired alumnus Capt. Gordon “Mac” MacArthur to serve as master aboard the academy’s training ship State of Maine. With over 30 years of experience in the maritime field, MacArthur served most recently as a Senior Dynamic Positioning Officer for Diamond Offshore Drilling. In that role, he monitored… Read More
Looking to bring the complete range of its services to maritime clients seeking design-build-operate solutions, Crowley Maritime Corporation has now fully integrated its Jensen Maritime unit into the Crowley Engineering Services group. It says the new group “will seamlessly combine Crowley’s diverse business portfolio and long history of engineering, project management and marine operations with… Read More
HOUSTON, Feb. 19, 2021 /PRNewswire/ — CenterPoint Energy, Inc. (NYSE: CNP) today announced the appointment of Wendy Montoya Cloonan, an accomplished attorney and civic and community leader, to its Board of Directors, effective today. Wendy is an experienced attorney having recently started her own law firm specializing in public finance and public law. She practiced… Read More
PHILADELPHIA (KYW Newsradio) — City Councilmember Cherelle Parker has been elected chair of the Delaware River Port Authority board of directors. She is the first woman to lead the Authority, which operates four bridges connecting Philadelphia and New Jersey, as well as the PATCO rapid transit line. Parker said she was humbled to be chosen… Read More
Research permit granted to Oregon State University The US Bureau of Ocean Energy Management (BOEM) has issued a lease for the first wave energy research project in federal waters off the US West Coast. This lease represents another step forward in achieving the Biden administration’s goals to address climate change and promote offshore renewable energy… Read More
The 13,092 teu Maersk Eindhoven (pictured) lost “several hundred containers overboard” as it suffered an engine blackout in bad weather yesterday, near Japan, en route from Xiamen, China to Los Angeles. This latest box spill in the north Pacific will add urgency to a review of lashing practices on ULCVs, and could lead to an interim restriction… Read More
Lance Lemcool – Appointed Vice President of Sales and Marketing at Eastern Shipbuilding Group. Jeremy Lowe – Has been hired as Head of Global Sales for Chelsea Technologies, manufacturers of sensors & systems for maritime, marine science, water environmental, defence & process control markets. Dave Allen – Great Lakes Dredge & Dock Promotes Dave… Read More
Morgan City, LA: Conrad Shipyard hosted a Steel Cutting Ceremony for Great Lakes Dredge & Dock Corporation (GLDD) at its Deepwater South shipyard in Amelia on Friday February 5th 2021. The ceremony signals the start of construction of a 6,500 cubic yard trailing suction hopper dredge. Delivery of the vessel is scheduled before the end… Read More
GIW Industries is expanding its manufacturing complex to increase capacity. This video provides an inside look at the project and the progress that has been made.
Fourth quarter income from continuing operations of $10.6 million Fourth quarter adjusted EBITDA from continuing operations of $29.4 million Full year income from continuing operations of $66.1 million Full year adjusted EBITDA from continuing operations of $151.1 million Backlog of $559.4 million at December 31, 2020 Cash position of $216.5 million at December 31, 2020… Read More
La Crosse, Wis., headquartered J.F. Brennan Company reports that it has entered a Small Business Administration (SBA) 8(a) certified joint venture with Ahtna Marine & Construction Company LLC (AMCC). The Ahtna – J.F. Brennan JV partnership establishes a mentor protégé relationship between Brennan and Alaska Native Corporation subsidiary AMCC. Together, Brennan and AMCC will bid… Read More
Bremerton, Wash., based aluminum boats specialist SAFE Boats International reports that Mark Stott has joined it as Business Development Director for the U.S. Western Region for government customers and private/commercial customers worldwide. Stott began his professional career in electronics and telecommunications before entering the maritime industry. He has served as an engineer on large, private… Read More
