WASHINGTON – U.S. Transportation Secretary Anthony Foxx today announced the approval of a $324.6 million Title XI loan guarantee to TOTE Shipholdings, Inc., to finance the construction of two container ships that will utilize liquefied natural gas (LNG) as propulsion fuel. The Title XI Loan Guarantee program promotes the growth and modernization of U.S. shipyards […]
ST. LOUIS and SUNNYVALE, Calif. – Sept. 23, 2014 – Boeing [NYSE:BA] and Liquid Robotics, the market leader in unmanned ocean vehicles, today signed a global, multi-year teaming agreement for collaboration on product development, maritime services and operational deployments. The initial focus of the collaboration will be to develop total integrated solutions for anti-submarine warfare, […]
CHICAGO — GE Capital, Commercial Distribution Finance (CDF) announced today it has significantly expanded its inventory financing program with MarineMax (NYSE: HZO), the nation’s largest boat dealer, and extended its duration through 2017. The $235 million facility will allow the company to expand its stocking plans from leading manufacturers in the industry including Sea Ray, […]
LONDON — KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank. Financial details of the transaction were not disclosed. In 2013, KKR and […]
Chairman Mario Cordero participated in a U.S. – Japan Bilateral Maritime Meeting, hosted by the U.S. Department of Transportation, Maritime Administration in Washington, DC. Maritime Administrator Chip Jaenichen, who headed the U.S. Delegation, welcomed maritime delegates from the United States and Japan who conferred throughout the day to consider the evolving international maritime landscape. The […]
CHICAGO — After a slow start resulting from a harsh winter and cold spring, the recreational marine industry is experiencing accelerated growth, says GE Capital, Commercial Distribution Finance (CDF). Retail and wholesale sales are up versus a year ago in the U.S., and the industry is on track to reach the 8% growth in retail […]
SAN DIEGO, Aug. 19, 2014 – Using a newly developed advanced maritime test bed, Lockheed Martin [NYSE: LMT] recently demonstrated how continually evolving technologies such as data fusion and predictive analytics can be used to share intelligence quickly and securely – even in limited bandwidth naval settings. This new software test platform, designed to mimic […]
SAN DIEGO – SeaWorld Entertainment, Inc. announced today that it plans to build new, first-of-its-kind killer whale environments and that it will fund new programs to protect ocean health and killer whales in the wild. The new projects will build on SeaWorld’s legacy of providing state-of-the- art, innovative homes for its animals, and will offer […]
Sustainability and environmental protection have always had a high priority at Hapag-Lloyd. We would therefore like to keep you informed on recent developments on low sulphur fuel (LSF) regulations. As from January 2015, all shipping lines will be affected by stricter low sulphur fuel laws on trades crossing North Europe/Baltic, US and Canada. The sulphur […]
MORRIS TOWNSHIP, N.J., – Honeywell (NYSE: HON) announced today a new brand licensing program to help fishermen ensure they are purchasing fishing line containing genuine Spectra® fiber. Under the program, fishing line brands can recognize Spectra fiber as a valuable differentiator and the best and most trusted material for their products, and license the Spectra […]
