U.S. Navy Proposes Five Year Charter of Fleet Salvage Tug
The Naval Sea Systems Command (NAVSEA) is planning to lease/(bareboat charter) the fleet salvage tug USNS Narragansett (T-ATF 167) to a U.S. company that can show…
Cruise Market Review
With the buoyancy in newbuild business witnessed so far this year, the cruise ship orderbook stands at an all-time high of some 48 vessels. Erring on the conservative side…
Tapping LNG on the fjords
In the first application of its type in marine propulsion, a Norwegian fjord ferry is to use LNG (liquefied natural gas)-fueled engines as the prime movers for a…
U.S. Oil Drilling Rig Count Down 10, Canada up 18
The number of rigs exploring for oil and natural gas in the U.S. reportedly fell by 10 from last week to stand at 570 as of July 9.
Norwegian Ferry Insured For $66M
Prinsesse Ragnhild, the Norwegian ferry which caught fire off Sweden, was reportedly insured for a total value of $65.80 million.
IEA: Says Oil Demand Slump Has Bottomed Out
Oil demand in the territories of the former Soviet Union reportedly has bottomed out after a long decline.
Kvaerner Wins Carnival Deal
Carnival Cruise Lines is reportedly ordering a $375 million cruise vessel from Kvaerner's Masa Yards unit in Finland.
Litton Withdraws Deal For Newport News
Litton Industries Inc. has reportedly withdrawn its $1.8 billion bid to buy Newport News Shipbuilding Inc., saying the deal was not likely to get the necessary government approval.
German Bank Signs $52M Loan for Croatian Shipyards
Kreditanstalt fuer Wiederaufbau and a Croatian reconstruction bank have reportedly signed a $52M loan for modernization of five state-owned shipyards.
Norwegian Ferry Fire Claims Life
Tragedy again has struck the well-established Scandinavian ferry business, as some 1,300 people were safely evacuated from a blazing Prinsesse Ragnhild, a Color Group-owned Norwegian passenger ferry…
Marine Electronic Giants To Merge Operations
SAIT-RadioHolland is merging its marine activities with those of German STN Atlas, part of the Rheinmetall Group. The 50/50 joint venture has been named EuroMarine Electronics.
OMI Sells Tanker
OMI Cop. sold and leased back a 1999-built Suezmax tanker. OMI also said it had sold the 1975-built 146,108 dwt Czantoria for demolition.
NCL To Be Listed On NYSE
Norwegian cruise firm NCL Holding ASA has been approved for a listing on the New York Stock Exchange. NCL would be listed under the symbol NRW.
EU to Kvaerner: We Want Our Money Back
The European Commission reportedly has ordered KWW -- a German subsidiary of Kvaerner Plc -- to repay $42.31 million of state aid. The company is reportedly mulling an appeal.
Cammell Laird Is Flying High
British ship repairer Cammell Laird Holdings Plc said on Thursday it had its strongest ever order book and reported healthy results.
Ship Scrapping Up 5% In 2Q
Tanker scrapping shot up while the disposal of bulk carriers diminished as the total deadweight tonnage of ships sold for demolition rose by five percent in the…
Kvaerner Says
Although international engineering and industrial giant Kvaerner is anxious to divest itself of its shipbuilding operations, the company is refusing to sell shipyards…
DUC Oil Production Up 11.8%
Danish Underground Consortium's (DUC) oil production from North Sea fields rose 11.8 percent year-on-year in June. Oil production was 1.045 million tons in June…
FTC Waives Termination Avondale Takeover Wait
The Federal Trade Commission granted early termination of the waiting period required under federal law for its proposed sale of Avondale Industries Inc. to Litton Industries Inc.
Work Stoppage Closes Port of Oakland
Longshore workers kept the Port of Oakland, California shut for a second day Wednesday as union officials studied a wage and benefits offer. The Oakland work stoppage…
