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Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today reported a number of additional actions it is taking to strengthen its liquidity position in the event of an extended pause in cruise operations due to COVID-19. Last month, the company completed a successful financing effort with a heavily oversubscribed offering of senior secured notes, senior… Read More
Michael Dyke has been named managing director by a joint venture of U.K.-based Balfour Beatty Group Ltd. and France’s VINCI Group S.A. of two engineering projects valued at $6.2 billion on Britain’s London-to Birmingham high-speed railroad (HS2). He will lead work on team contracts secured last month for the northern 90 km of rail linking… Read More
Kevin Rabbitt has been appointed CEO of small passenger vessel specialist Hornblower Group. He is expected to take up the role in July, while founder, Chairman and current CEO Terry MacRae will continue as Executive Chairman. “Kevin brings an entrepreneurial mindset and tremendous business expertise to Hornblower and is well qualified to helm our organization… Read More
A worldwide consultancy and specialist shipbroker for offshore renewable energy projects, Global Renewables Shipbrokers, is now venturing into the field of project investments and corporate finance. The Hamburg-based firm expanded its range of services with project investments and corporate finance from May 1, 2020. Uwe Schuldt is now heading the new department “Global Renewables Invest… Read More
EdgeTech, the leader in high resolution sonar imaging systems and underwater technology, recently promoted Gene Andella to the role of Customer Service Manager. Gene has worked with EdgeTech for over seven years. He started on the factory floor building EdgeTech products and then moved into a Customer Support role six years ago. Gene has valuable… Read More
Crowley Solutions has received a multi-year award from the U.S. Army 409th Contracting Support Brigade-Theater Contracting Command to provide transportation of personnel and cargo and procurement of material handling equipment (MHE) under the Third Party Logistics Europe Wide Movement (3PLEWM) contract. Under terms of the May 4 award, Crowley will provide third party logistics (3PL)… Read More
GREENWICH, Conn.–(BUSINESS WIRE)–Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”, or the “Company”), one of the largest publicly listed owners and operators of crude oil and product tankers, today announced results for the first quarter of 2020. Highlights for the First Quarter and Recent Events — Net income attributable to Diamond S of $45.0 million,… Read More
Royal Caribbean Cruises Ltd. (NYSE: RCL) estimates it is burning through cash in the range of approximately $250 million to $275 million per month during the present suspension of cruise operations, it said in a business update released today. “These are unprecedented times for all of us,” said Chairman and CEO Richard D. Fain.“Travel restrictions… Read More
GROTON, Conn. and BOCA RATON, Fla., May 4, 2020 /PRNewswire/ — ThayerMahan Inc. (“ThayerMahan”), a leading maritime technology company providing autonomous marine sensing solutions, announced that it closed on $10 million of new financing from AE Industrial Partners Structured Solutions I, LP (“AEI Structured Solutions”), an affiliate of AE Industrial Partners, LP (“AEI”), a private… Read More
New York City headquartered International Seaways, Inc. (NYSE: INSW), one of the world’s largest tanker operators, reported net income for the first quarter of $33.0 million, compared to a net income of $10.9 million in the first quarter of 2019. Net income for the quarter reflects the impact of a $2.8 million gain on sale… Read More
ROME — As CEO of Italy’s state-controlled Fincantieri since 2002, Giuseppe Bono, has built cruise, merchant and naval vessels, including the FREMM frigate, for the Italian navy. Last week the type was picked by the U.S. sea service for its newest frigate, the FFG(X), in a deal worth $5.58 billion if options for nine vessels… Read More
The following Engineer General Officer Assignments have been announced by the General Officer Management Office. Congratulations to all on these upcoming assignments: MG William Graham, Jr., DCG, I Corps, Joint Base Lewis-McChord to USACE-HQ to serve as the DCG for Civil & Emergency Operations MG David Hill, DCG, United States Army Central to serve as… Read More
Here are the major comments, made by Great Lakes CEO Lasse Petterson and CFO Mark Marinko on their earnings call report this week, and at the annual meeting of shareholders: GLDD has incurred expenses from its Covid 19 safety program, but not material to its financial results “Outlook moving forward “ US Federal Govt has… Read More
Oceaneering board has approved voluntary base salary reductions of the executive management and other members of senior management. Effective 1 May, the company’s CEO Roderick A. Larson agreed to base salary reduction of 15 per cent. Base salaries for executive level, including the executive leadership and senior vice presidents, will be reduced by 10 per… Read More
Despite taking a one-time tax benefit of $50.8 million from the CARES (Coronavirus Aid, Relief, and Economic Security) Act barge giant Kirby Corporation (NYSE: KEX) reported a net loss of $248.5 for the first quarter ended March 31, 2020, compared with earnings of $44.3 million for the 2019 first quarter. Excluding one-time items in the… Read More