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At the invitation of the US Trade and Development Agency (USTDA) under the US Department of Commerce, the State Minister of Shipping for Bangladesh, Honorable Khalid Mahmud Chowdhury lead a team of Government Officials and other distinguished decision makers to the USA for a 10-day visit. The group met with US Government agencies, and private… Read More
Tampa, Fla., headquartered U.S.-flag tanker and ATB operator Overseas Shipholding Group, Inc. (NYSE: OSG) today reported results for the second quarter 2022. Highlights included: Shipping revenues for the second quarter of 2022 were $118.0 million, an increase of $14.0 million, or 13.4%, from the first quarter of 2022. Compared to the second quarter of 2021, shipping revenues… Read More
Motor Services Hugo Stamp, Inc. (MSHS) has acquired Pacific Power Group (PPG), an industry-leading provider of products, parts, and maintenance, repair, and overhaul (“MRO”) services for marine, energy, commercial and industrial equipment. The combined businesses complement each other’s technical and engineering capabilities, which creates greater value for the customer base. MSHS and PPG’s focus will remain… Read More
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that it has entered into a definitive agreement to acquire Island Global Yachting LLC (“IGY Marinas”), which owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations. MarineMax will acquire IGY Marinas… Read More
Crowley has chosen international business sustainability ratings provider EcoVadis to assess its value chain for its suppliers’ environmental, social and governance (ESG) impacts. A global provider of supply chain solutions, Crowley is the first U.S.-based company in maritime and logistics to partner with EcoVadis on its value chain solutions. Leveraging EcoVadis’ unparalleled technology capabilities, Crowley… Read More
Performance Team – A Maersk Company has announced a new cold storage facility planned for Ridgeville, South Carolina to serve temperature-controlled goods, opening in Q1 2023. The new facility will offer a strong value proposition to customers through supply chain simplification benefits, cold storage solutions, refrigerated inland trucking, blast/quick freezing, USDA meat inspections, boxing/repacking, and other value-added… Read More
I want to agree and associate myself with the statement made by Chairman Maffei in the aftermath of his visit to the Port Authority of New York/New Jersey, and his concerns on the mounting challenge of returning empty containers to the marine terminals servicing the port. In my view, the congestion emanates from the lack… Read More
HOUSTON–(BUSINESS WIRE)–Tidewater Inc. (NYSE:TDW) announced today revenue for the three and six months ended June 30, 2022 of $163.4 million and $269.2 million, respectively, compared with $90.0 million and $173.5 million, respectively, for the three and six months ended June 30, 2021. Tidewater’s net losses for the three and six months ended June 30, 2022,… Read More
MONTAGU, a private equity firm, has announced a deal to acquire Lloyd’s List Intelligence from parent company Informa. Lloyd’s List Intelligence is a leading provider of maritime data, insight and intelligence, widely used across the shipping ecosystem, extending to the finance, legal, academic, insurance, and government sectors. Its market-leading products provide reliable, high-quality data and actionable… Read More
We’ve today – Wednesday 3 August 2022 – announced the acquisition of Thynk Software’s maritime tech business. Thynk’s founder and CEO, Marlon Grech, and around 30 of his colleagues will join RightShip when the acquisition completes, which is expected to be 1 September 2022. Marlon will also become RightShip’s first Chief Technology Officer. We launched our… Read More
DredgeWire Exclusive Story and photo by Judith Powers During its annual membership meeting, the WEDA Environmental Commission took on a new initiative: how the dredging industry is contributing to sustainability, resilience, and adaptation in response to climate change. Chair Craig Vogt introduced the initiative and asked members for ideas in developing goals and moving the… Read More
GREAT FALLS, Va.–(BUSINESS WIRE)–Shaza Andersen, founder and Chief Executive Officer of Trustar Bank in Great Falls, VA, has been appointed to the Board of Commissioners of the Virginia Port Authority by Virginia Governor Glenn Youngkin. Ms. Andersen will serve a five-year term effective July 1, 2022 through June 30, 2027. A favored and sought-after authority on leadership, banking,… Read More
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) CEO Lasse Petterson bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was acquired at an average cost of $9.65 per share, with a total value of $96,500.00. Following the transaction, the chief executive officer now owns 1,003,630 shares of… Read More
Caterpillar Inc. (NYSE: CAT) announced second-quarter 2022 sales and revenues of $14.2 billion, an 11% increase compared with $12.9 billion in the second quarter of 2021. The increase was primarily due to favorable price realization and higher sales volume. Operating profit margin was 13.6% for the second quarter of 2022, compared with 13.9% for the… Read More
With nearly 20 years of naval architecture and marine engineering experience, Jors has served in previous leadership roles on complex projects, involving vessel design and development, construction, structural analysis, conversion and modification. Since joining Crowley in 2010, Jors has played an active role expanding the company’s engineering services capabilities for maritime partners and customers. Most… Read More