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The U.S. House Committee on Transportation and Infrastructure voted the Water Resources Development Act of 2020 (WRDA 2020) favorably out of Committee, Wednesday. The legislation, which provides authority for the U.S. Army Corps of Engineers (Corps) to carry out water resources development projects and studies, as well as policy direction to the Corps for implementation of its Civil Works missions, now heads to the House Floor for a vote.Maritime trade groups Waterways Council, Inc. (WCI) and the American Waterways Operators (AWO) applauded the House T&I bill (H.R.
The crew aboard a U.S.-flagged containership rescued three sailors from a 50-foot trimaran that became disabled in the Pacific Ocean, about 825 miles northeast of Oahu, last week.At 8 a.m., last Tuesday, U.S. Coast Guard watchstanders at Joint Rescue Coordination Center (JRCC) Honolulu received a report from a friend of the trimaran’s master stating the vessel, Third Try, had not made contact since Monday. The three mariners aboard were attempting a nonstop circumnavigation of the globe, and their last known position was between California and Hawaii.
Carnival Corp is planning to raise about $1.26 billion in a bond offering, the beleaguered cruise operator said Wednesday as it struggles to stay afloat after the COVID-19 pandemic impacted its business.The bond offering is split into a $775 million tranche paying an annual coupon of 10.5%, and 425 million euro-tranche ($484.93 million) paying 10.125%.The senior secured notes are due 2026, with the offering expected to close on July 20, Carnival said.Carnival said the notes will be secured by a second-priority lien, a lower priority of repayment in case of bankruptcy or liquidation of assets.
Singapore-based shipowner BW LPG announced Wednesday it has concluded the sale and delivery of the 78,489 cbm capacity liquefied petroleum gas (LPG) carrier Berge Summit to an unnamed buyer for continued trading.The sale is expected to generate approximately $9 million in liquidity and an expected net book gain of $4 million, BW LPG said.BW LPG acquired the 1990-built vessel for $8 million in 2015, and for the last five years it has been used as LPG floating storage for Vitol's gas-to-power project in the U.S. Virgin Islands.Anders Onarheim, CEO of BW LPG, said, “The successful completion of this transaction is in line with our asset management strategy.
The Damen Shipyards Group reports it has sold a full option Cutter Suction Dredger (CSD) 500 to the Argentinian dredging contractor Servimagnus. The modular dredger is currently under construction at the Damen Dredging yard in Nijkerk, The Netherlands, and will be shipped to South America later this year to join the Servimagnus fleet working on a waterways program in the province of Buenos Aires.“One of the major rivers in the outstretched plains in the Argentinian Province of Buenos Aires, the Salado River, is undergoing major maintenance dredging,” says Ezequiel Najmias, Damen Shipyards Group sales manager Americas.