Otto Candies Buys Four MPSVs from Harvey Gulf International Marine
U.S.-based offshore and marine services company Otto Candies has acquired four multi-purpose support vessels (MPSVs) from Harvey Gulf International Marine.The vessels acquired by Otto Candies are the Harvey Blue-Sea, Harvey Sub-Sea, Harvey Deep-Sea, and Harvey Intervention. The value of the transaction was not disclosed.Otto Candies said the acquisition represents a meaningful step forward in the continued…
Dr. James S.C. Chao Honored by Webb Institute
Webb Institute awarded Dr. James S.C. Chao, Founder and Chairman of Foremost Group, an Honorary Doctor of Science degree in recognition of his visionary leadership in the global maritime industry and his profound commitment to education, philanthropy, and sustainability.The ceremony was held on Webb’s Glen Cove campus before the Board of Trustees, students, and faculty. Dr. Chao delivered brief remarks reflecting on his extraordinary journey…
Ship Recycling Market “Woefully Slow”
Global markets seemed to take a breather this week as things turned slow across the board once again, not only on the shipping side but even the ship recycling side of things, reports cash buyer GMS.Currencies fluctuated in moderate tandem, local steel plate prices made surprisingly marginal moves, all while the Baltic Exchange Dry Index (BDI) slipped and oil steadied itself. The BDI reported a declining week that shaved off about 3.2% last week…
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