After Pride Group, one of Canada’s largest trucking and leasing companies, filed for bankruptcy protection last week amid a capacity glut and low rates, President and CEO Sulakhan “Sam” Johal is warning that an “unorganized demise” of the company threatens “the livelihoods of many thousands of families.”
The company was founded by Johal and his brother Jasvir Johal, vice president, in 2010. It operates 50 owned and leased locations across Canada and the U.S., controlling a fleet of 20,000...
Nemeca Z, a towage and salvage company operating out of Greece’s Port of Piraeus, recently took delivery of a new harbour tug from Turkish builder Med Marine. The Robert Allan Ltd-designed Dias Z has a length of 25.2 metres, a beam of 12 metres, a depth of 4.6 metres, a draught of 5.75 metres, and...
One of Canada’s biggest trucking carriers has filed for bankruptcy protection after lender Mitsubishi HC Capital America filed a lawsuit seeking $100 million.
Pride Group filed Thursday for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in Canada, which gives the company a stay of proceedings for at least 10 days.
“We have taken these steps to commence the CCAA proceedings and to seek recognition under the Chapter 15 cases so that we can maintain our current operations,...
The International Maritime Organization’s Marine Environment Protection Committee has approved the establishment of two new Emission Control Areas (ECAs) in Canada’s Arctic waters and the Norwegian Sea. The ECAs, proposed…
https://gcaptain.com/imo-approves-new-emission-control-areas-in-canadian-arctic-and-norwegian-sea/
SVS Maritime, a company under Greek towage provider the Vernicos Scafi Group, has awarded Turkish shipbuilder Med Marine a contract for the construction of a new harbour tug. The tug will be designed by Canadian naval architecture firm Robert Allan Ltd. The vessel will have a length of 25.2 metres,...
Canadian fish harvesting company Cooke Aquaculture has confirmed the passing of co-founder Gifford Cooke on March 3. Born in the New Brunswick community of L’etete in 1938, Gifford Cooke co-founded Cooke Aquaculture in 1985 with his sons Glenn and Michael. Prior to that, he was a marine mechanic in...
Netherlands-based the Damen Shipyards Group and Swedish defence technology company Saab have entered into an agreement on the manufacture of export variants of Saab’s C71 expeditionary submarines. The C71-class submarines are being developed as replacements for the Royal Netherlands Navy’s ageing Walrus-class boats. The newer submarines’ modular design allows room for customisation as well as […]
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Turkish shipbuilder Med Marine recently handed over a new harbour tug to Italian towage operator Scafi Societa di Navigazione. Designed by Canadian naval architecture firm Robert Allan Ltd, Gea will be deployed at the Port of Rijeka in Croatia. It will to support Scafi subsidiary Jadranski Pomorski...
Canadian towage company HaiSea Marine, a joint venture business formed by the Haisla Nation of British Columbia and local shipping line Seaspan, has taken delivery of the first in a new series of two LNG-fuelled ASD tugs that will be used primarily to escort gas carriers between the Pacific Ocean...
Cargojet on Monday reported a US$25.8 million loss in the fourth quarter mostly related to fuel and noncash charges, capping a rocky year marked by slashed plans for major fleet expansion and a renewed focus on cost management to boost free cash flow and investor returns.
Despite recent retrenchment, the company sounded an optimistic note for 2024 with guidance of mid-to-high-single-digit growth in domestic overnight revenue for the first quarter. Management said that January figures were well...
https://www.freightwaves.com/news/cargojet-sees-strong-volumes-after-2023-fleet-reversal