The U.S. Department of Transportation’s Maritime Administration has agreed to guarantee loans of $40.8 million to enable the Canal Barge Company, Inc. of New Orleans, LA, to order nine asphalt barges and 30 open hopper barges.

The global AC drives manufacturer Vacon is extending its services in Brazil, where the economy is rapidly recovering from a short-term recession.

Abu Dhabi MAR Group, the international shipbuilding group based in Abu Dhabi, and ThyssenKrupp Marine Systems, part of ThyssenKrupp, have agreed on a close strategic partnership.