Horizon Lines shareholders jump ship on bankruptcy fears
Shares in Jones Act containership operator Horizon Lines (NYSE:HRZ) plummeted today after it filed its 10K with the SEC. You can download the 10 K here. But here’s one example of what
Search Results for: containership
Hyundai Heavy Industries unveils smart ship system
Hyundai Heavy Industries, the world’s largest shipbuilder, unveiled what it says is the world’s first remote monitoring and controlling smart ship system on March 25. The IT-based smart system has been developed
Podcast: W&O’s Michael Hume
For the U.S. marine market, the recovery has been slowed by the government-imposed drilling moratorium in the wake of the Deepwater Horizon incident. With the moratorium lifted and the government reluctantly issuing new deepwater drilling permits under stricter safety guidlines, the outlook for 2011 is much brighter. Tidewater has ordered two Platform Supply Vessels and Eastern Shipbuilding is near dotting the “I’s and crossing the T’s” for a $250 million contract for five Platform Supply Vessels for export to Brazil. Additionally, VT Halter Marine has signed a contract to build a Roll-on/Roll-Off ship for Pasha.
On the military side, the U.S. Navy is moving ahead with plans for its Littoral Combat Ship and Joint High Speed Vessel programs.
To put it in perspective, we spoke with Michael Hume, Chief Operating Officer of W&O, which is the largest supplier of engineered products, pipe, valves and fittings to the marine industry in the U.S., supporting new construction and ship maintenance projects for commercial shipping and the U.S. government. We talked to Hume about how W&O weathered the downturn in shipbuilding, the emergence of the North American Emissions Control Area, and just what exactly he sees for the near-term shipbuilding picture in the U.S.
You can listen to the podcast BELOW:
{mp3}hume_new2{/mp3}
Kristian Røkke to take helm at Aker Philadelphia Shipyard
Kristian Røkke has been appointed President and CEO of Aker Philadelphia Shipyard ASA (AKPS). As CEO, Mr. Røkke, who is the son of Aker ASA Chairman Kjell Inge Røkke, will “lead the
Hamburg Süd places $710.5 million box ship order at HHI
Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, today won a KRW 800 billion (about $710.5 million) deal to build six 9,600 TEU containerships for shipping line Hamburg Süd. The agreement includes
Israel intercepts weapons shipment
Israel Defense Forces (IDF) have seized a containership loaded with weaponry. The Liberian-flagged Victoria was intercepted yesterday morning some 200 miles west of Israel’s coast. The ship is managed by Peter Doehle
Seaspan and Carlyle Group in $5 billion ship acquisition joint venture
Seaspan Corporation, the Washington family, Gerry Wang and Graham Porter are partnering with the Carlyle Group and Tiger Group Investments to acquire more than $5 billion of ships. The joint venture –
Horizon Line staves off credit agreement default
U.S.-flag containership operator Horizon Lines, Inc. (NYSE: HRZ) says it has entered into a credit agreement amendment with its lender group, effective March 9, 2011. The deal waives a default under the
American Feeder Lines to start first service
American Feeder Lines, which says its vision and mission is the “realization of America’s Marine Highways,” says it will start operations in the second quarter of 2011. Last year the company hired
Chuck Raymond steps down as Horizon Lines cops plea in price fixing case
Charles G. “Chuck” Raymond is stepping down as Chairman, President and Chief Executive Officer of U.S.-flag containership operator Horizon Lines, Inc. (NYSE:HRZ), while Executive Vice President and Chief Operating Officer John V.