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MIAMI — Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the second quarter 2024 and provided an updated outlook for the full year and an outlook for third quarter 2024. Second quarter net income improved by nearly $500 million compared to 2023 and adjusted net income outperformed March guidance by nearly $170 million (see “Non-GAAP Financial Measures”… Read More
NEW YORK — First Citizens Bank today announced that its Maritime Finance business provided a senior secured loan of $22 million to Euroseas Ltd. for the financing for a newbuild 2,800 TEU Eco containership. Formed in 2005, Euroseas (Nasdaq: ESEA) is an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes. The company has… Read More
South Korean shipbuilder looks to claim stake to Jones Act and US government shipbuilding market with US$100M shipyard acquisition South Korea’s Hanwha Systems and Hanwha Ocean are taking a leap into the US Jones Act market, with a US$100M acquisition of American shipbuilder Philly Shipyard (PSI). A publicly traded shipbuilder controlled by Norway’s Aker ASA,… Read More
As part of its commitment to lifting the standards of proactivity and responsibility, APM terminals provides the learning and development opportunities that help its employees reach career potential they may never have thought possible. According to the company’s Global Head of People Function, Sander Hubbers, APM Terminals actively encourages conscious career choices. “The single most… Read More
D’Amico International Shipping CEO Carlos Balestra di Mottola joined Steve Darling from Proactive from our OTC studio in New York City to discuss the company’s operations and future strategies. Specializing in product tankers that primarily transport refined petroleum products, D’Amico International Shipping currently operates a fleet of 33 vessels, with plans to expand to 34 by… Read More
Texas-based U.S. Logistics Solutions has filed for bankruptcy liquidation, stating that its lender pulled the plug on its funding, which forced the company to shutter operations Thursday and left a disputed number of truck drivers, dock and warehouse workers, and sales and office personnel without jobs. In a statement to FreightWaves Tuesday, a spokesperson for Ten… Read More
BATON ROUGE, La. – Today, the Coastal Protection and Restoration Authority Board (CPRA) presented the R. King Milling Distinguished Coastal Service Award to Reggie Dupre, Executive Director of the Terrebonne Levee and Conservation District (TLCD). The award was established in 2022 to honor individuals or organizations epitomizing Milling’s unwavering support for the state’s coastal program…. Read More
By harnessing wind power, high-tech sails can help cut marine pollution Excerpt from article in The Economist: A return to sail has been heralded before as a way to cut pollution. It has led, in recent years, to renewed interest in Flettner rotors as well as other wind technologies, including rigid sails, giant kites and… Read More
Partnership with Mississippi Gulf Coast Community College, South Mississippi Planning & Development District and AccelerateMS will hire and train the next generation of Gulf Coast shipbuilders Pascagoula, MS. – This week, Bollinger Shipyards (“Bollinger”) kicked off the inaugural Shipfitter Bootcamp, an innovative workforce development initiative alongside Mississippi Gulf Coast Community College (MGCCC), the South Mississippi Planning &… Read More
In its 17th year, the Everywoman Award celebrates the remarkable contributions women make to the transport and logistics sector, highlighting their progression, achievements, and the expanding opportunities within this traditionally male-dominated industry. With women representing just 21% of a workforce that numbers over 1.5 million and contributed £214 billion to the UK economy in 2020,… Read More
Massachusetts Port Authority Port Director Joseph Morris will be taking the helm at Port Everglades in mid-July. Morris was confirmed by the Broward County Commission following a national search. He succeeds Jonathan Daniels, who took the top job at the Port of Baltimore in February. Morris has been with Massport four years, the first two as… Read More
Over the last few years, American Commercial Barge Line (ACBL) has embarked on a journey to realize its vision of being the trusted leader in marine transportation. As part of this ongoing transformation, ACBL is announcing an important reorganization designed to enhance and optimize operational efficiency, customer satisfaction and ensure successful execution of ACBL’s fleet strategy. To… Read More
Hanwha Systems, a global leader in defense electronics and IT technologies, and Hanwha Ocean, one of the world’s leading shipbuilders, today announced the acquisition of Philly Shipyard, a leading U.S. shipbuilder that has delivered approximately half of the large U.S. Jones Act commercial ships in the United States since 2000. Hanwha Systems and Hanwha Ocean will together invest $100… Read More
The United States Army Corps of Engineers Transatlantic Division proudly announces a change in leadership as Brigadier General William C. Hannan, Jr. officially hands over command to Colonel Craig S. Baumgartner. Baumgartner assumed duties as Commander of the U.S. Army Corps of Engineers Transatlantic Division, June 21. Although, he has been a crucial part of… Read More
Orion has filed a report with the SEC regarding the “Termination of a Material Definitive Agreement.” Orion Group Holdings, Inc. (the “Company”) previously filed a Current Report on Form 8-K on February 20, 2024, announcing one of the Company’s subsidiaries entered into a contract (the “Land Sale Contract”) with Brixx Technologies LLC (“Brixx”) for the… Read More