Oil Tanker Stranded Off Bermuda
A Texas-bound tanker carrying 300,000 tons of crude oil has become stranded off the coast of Bermuda after an explosion on Sunday evening, the Rescue Coordination Center (RCC) said on Monday.
Search Continues For Survivors Of Double Caribbean Tragedy
Hopes were fading on Saturday of finding more survivors among about 50 people missing and feared dead after two boats carrying illegal migrants, most of them from the Dominican Republic…
After Four-Day Closure, Russian Port Re-Opens
The Russian oil port of Novorossiisk re-opened early on Monday after a nearly four-day closure, industry sources said. Officials said the port, which shut down at 1 p.m.
SembCorp To Sell Marine Segment
SembCorp Logistics said on Monday it agreed to sell its marine business to PSA Marine, a unit of Singapore port operator PSA Corp, for S$207.5 million ($117 million).
Cruise Powerhouse Carnival Corp. Commences Intermediate Ratings
Merrill Lynch said on Monday it had started coverage of Carnival Corp., the world's largest cruise line operator, with "intermediate" and "long term accumulate" ratings.
Despite Salvage Efforts, Offshore Rig Continues To Plummet
The world's largest offshore oil rig resumed sinking as rough seas impeded efforts to salvage it four days after blasts ripped through the structure, killing 10, the Brazilian owners said on Monday.
GSA Auctions Perfect Storm Rescue Vessel
A former U.S. Coast Guard cutter whose heroic rescues garnered notice in the movie, The Perfect Storm, made its debut on the U.S. General Services Administration auction Web site…
Rowan Completes Long-Term 5.88% Refinancing of Gorilla VI Debt
Rowan completed the refinancing of its $156.8 million of outstanding floating-rate Gorilla VI debt through the issuance of a 5.88% fixed-rate note maturing in March 2012.
World’s Biggest Oil Rig Is Sinking
The world's biggest offshore oil rig, hit by blasts that apparently killed 10 people, may sink in the next two days, the rig's Brazilian owners said on Friday, raising fears of environmental damage.
FGH’s Convertible Note Interest Payment Status
Friede Goldman Halter, Inc. announced that it has not made the semi-annual interest payment on its outstanding 4 1/2% convertible subordinated notes due 2004. The…
UK Hopes Navy Deal To Save Navy Jobs
The U.K. Ministry of Defense hopes a new contract with naval shipbuilder Vosper Thornycroft would save 450 workers from the company's planned 650 job cuts announced in December.
Wall Street Worries About Cruise Fleet Pricing
The big cruise lines have been steadily filling their rapidly expanding fleets with passengers looking to escape an especially harsh North American winter, but as…
Liberian Registry Launches Internet-Based Inspection
The Liberian Registry has launched a unique Internet-based vessel inspection application based on technology developed by the Wallem Group. The Internet-based inspection…
New Zealand Warns Ships on Mir Breakup
New Zealand has issued international warnings to ships and aircraft travelling in the South Pacific area where Russia's Mir space station is due to break up next week.
Four Die As Ship Sinks
Four people died and eight were missing after a cargo ship capsized in a river in China's eastern province of Zhejiang, an official said. Bad weather was hampering rescue efforts…
UK Hopes to Save Shipbuilding Jobs With Navy Deal
The U.K. Ministry of Defense said it hoped a new contract with naval shipbuilder Vosper Thornycroft would save 450 workers from the company's planned 650 job cuts announced in December.
S&P Downgrades Cammell Laird
Standard & Poor's downgraded British shipbuilder and repairer Cammell Laird, stoking fears it will miss the first coupon payment next month on a 125 million euro high-yield bond.
Schat-Harding Launches KISS Offshore System
Schat-Harding has launched the first in a new series of simple, easy-to-maintain and space-saving boats and davits for the offshore and merchant marine industries.
Cobelfret Starts New Service
April 23 Cobelfret Ferries starts a new service Rotterdam-Purfleet (Thames, near London). Initial frequency is once a day in both directions. In due course the company…
ECT Lays Claim On Sea-Land
ECT has put a claim on Sea-Land for breaking the terminal contract that would last until 2013. In the take over of SL by Maersk the terminal contracts were not included.
