In March 2005, several notable developments occurred within the maritime industry, highlighting acquisitions, new ship deliveries, mergers, and restructuring efforts that shape the global maritime and shipping sectors. Below is a summary of key events:
Alion Science & Technology Acquires JJMA
Alion Science & Technology, a global contract research company, acquired John J. McMullen Associates (JJMA), a leading naval architecture firm in the U.S. This strategic move enhances Alion’s capabilities in the naval sector. No public announcement was made on JJMA’s website, and Alion’s website faced technical issues at the time, making further details unavailable.
Conrad Industries Going Private
Conrad Industries, a Gulf Coast-based shipbuilder, announced plans to go private and delist from NASDAQ. This move aims to reposition the company for greater operational flexibility.
NASSCO Delivers Crude Carrier for BP
NASSCO delivered the second in a series of four 185,000-dwt crude carriers to BP Oil Shipping Co. The vessel, “Alaskan Explorer,” valued at $210 million, will be operated by Alaska Tanker Company. This is part of NASSCO’s ongoing work to provide energy transport solutions.
Kvaerner Restructures Philadelphia Shipyard
Kvaerner announced a restructuring of ownership at the Kvaerner Philadelphia Shipyard. The yard will become a subsidiary of American Shipping Corporation, focusing on constructing Jones Act-compliant 46,000-dwt product carriers for leasing to U.S. operators.
Seacor and Bollinger Collaborate on Product Carriers
Seacor and Bollinger Shipyards signed a Letter of Intent (LOI) for the construction of 4 to 6 product carriers, with Bollinger developing the vessel design and building them at its Amelia shipyard. This collaboration strengthens Seacor’s fleet and furthers Bollinger’s presence in the shipbuilding market.
Seacor Holdings and Seabulk International Merger
Seacor Holdings and Seabulk International announced their plans to merge, marking a significant combination in the maritime sector. Both companies see synergies that will strengthen their positions in the global shipping market.
Bordelon Marine Orders “Mega Mini” Supply Boats
Bordelon Marine ordered two “Mega Mini” supply boats from Bollinger Shipyards. The vessels, at 165 feet in length, will be delivered later in the year, marking an interesting addition to the offshore supply vessel market.
Halter Marine Delivers Car Truck Carrier
Halter Marine delivered the “Jean Anne,” the first and possibly only pure car truck carrier built in the U.S., to Pasha Hawaii Transport Line. The vessel can carry up to 3,000 vehicles and will be operated by Interocean Ugland Management.
Horizon Lines Pursues IPO
Horizon Lines, once again on the market, released a prospectus for a $287 million Initial Public Offering (IPO). The move is seen as a significant development for the U.S. container shipping company.
ExxonMobil’s SeaRiver Maritime Expands Fleet
As predicted earlier, ExxonMobil’s SeaRiver Maritime is meeting its Alaskan shipping needs by acquiring two “Ecology”-class double-hull crude carriers. These vessels, built by Sun Oil before the enactment of OPA 90, continue to serve the U.S. oil industry.
Gulf Copper Acquires Galveston Shipyard
Port Arthur-based Gulf Copper leased the former Todd Galveston shipyard and purchased a large floating dry-dock to relocate it to Galveston. This acquisition positions Gulf Copper to expand its ship repair capabilities.
February 2005 Notable Developments:
- Edison Chouest Offshore Acquires Gulfport Shipyard: Edison Chouest Offshore (ECO) acquired Halter Marine’s Gulfport yard for $11 million, planning to re-equip the facility for offshore vessel construction.
- Kvaerner Philadelphia Sells Ships to Matson: Kvaerner sold two hulls to Matson Navigation, priced between $290-315 million, with further delivery options available through 2010.
- Maritime Administration and Ship Construction Program: The Maritime Administration selected American Heavy Lift and Overseas Shipholding Group for the National Defense Tank Vessel Construction Program, marking a boost for U.S. shipbuilding if congressional funding follows through.
These headlines reflect the dynamism and ongoing transformations in the global maritime and shipbuilding industries, highlighting growth, mergers, and strategic business moves.