Economic Slowdown Contributes To NOL's Downgrade
GK Goh Securities has downgraded Neptune Orient Lines (NOL), the world's sixth largest container shipper, to hold from buy due to the economic slowdown that is expected…
MAAG to Supply Gearboxes for IZAR-Built Norwegian Naval Vessels
Danish engineering group FLS Industries on Tuesday said its Swiss-based MAAG unit won a 120 million crown ($13.8 million) order to supply gearbox systems to a Spanish shipbuilding group.
India's Coastguard Saves Abandoned Cargo Ship Crew
India's coastguard rescued 30 crewmen who abandoned a Vietnamese cargo ship carrying 13,200 tons of potash fertilizer on Tuesday after it began sinking off the east coast of India…
$35.4 Million Dredging Contract Will Provide Post Panamax Access at Dubai Port
Dubai's Jebel Ali port has awarded a 130 million dirhams ($35.4 million) contract to Belgium-based Dredging International to make the port accessible to "Post Panamax" super-container vessels…
Flender Werft Receives Containership Orders
Hamburg-based shipping company, Claus-Peter Offen has placed a double order (with an option for one more) with Flender Werft Aktiengesellschaft for the construction of 3,600 teu containerships.
Atlantic Market Freight Rates Fall Steadily
Freight rates continue to fall in the Atlantic market as fresh grain enquiry failed to compensate a slowdown in demand, shipbrokers said on Monday. Brokers reported…
Noble Drilling Rig Damaged in Severe Weather
Noble Drilling Corp. said on Monday that the Noble Jimmy Puckett, a 300-ft. independent leg cantilever jackup rig, was damaged when it encountered severe weather while under tow in Indian waters.
New Technology Debuts in Oslo
NorShipping 2001, held in Oslo, Norway in early June, once again proved to be a dynamic exhibition complete with some of the more influential personnel in the marine…
Forging Ahead
Despite a marked drop in shipbuilding volume during the past decade to lower cost competitors in the East, Germany's marine market has maintained it adherence to…
Podded Propulsion Goes Beyond the Cruise Realm
Compelling design and operational arguments in favor of podded electric drives can be expected to transcend any negative impressions formed from the recent clutch…
Repowering and Niche Marketing at Westar
Fireworks exploded over the Bay Bridge and thousands of people crowding the waterfront near the new ballpark gasped in admiration. Some of the best seats for the…
MariTel Launches New Marine Telephone Service With Vessel Location
The owner of a small inland tug company has no choice but to come in to the office every Saturday morning to update his fleet and load locations for his customers…
Xantic: New Look, New Name...More Service
Part of the curse of corporate consolidation comes in the combining of or complete re-naming of the new entity. The quandary: maintaining critical market awareness…
Back in Business -- Iridium Returns Under New Ownership
When Iridium, the $5 billion satellite company, fell into bankruptcy on March 18, 2000, it went down as one of the costliest corporate fiascoes of all time. More than one year later…
Owners...Start Counting the Cash
The much anticipated turnaround in the Gulf of Mexico Oil Patch is happening, and the companies that supply boats and services in the area are feeling the impact.
Local Yards Start to Feel the Impact
The U.S. Gulf of Mexico region is again poised to prosper, spurred by the buzz of activity surrounding the oil patch, and specifically the renewed vigor with which…
Mechanical Problems, Late Deliveries Continue to Plague Industry
A stagnant economy, threat of overcapacity and canceled cruises due to repairs and late deliveries have conspired to slow the hyper-growth cruise industry has enjoyed for the past decade.
Kockum Sonics AB launches Ballast Water Exchange Concept
In response to the threat of invasive marine species, Sweden-based Kockum Sonics AB has developed a new concept for safe and efficient ballast water exchange on high seas.
Bollinger Christens 8,000-hp Towboat, Bootsie B
Bollinger Shipyards, Inc., Lockport, La., with the Riverway Co., Eden Prairie, Minn., christened the M/V Bootsie B., a 188-ft. (57.3 m), 8,000 hp towboat. Bootsie B.
Largest Spanish RoPax Enters Service
The largest Spanish flagged RoPax ferry, named Fortuny, has been delivered by IZAR's Puerto Real shipyard to the Spanish shipowner Trasmediterranea. The contract…
