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.
Corrosion Monitoring System Granted Patent
InterCorr International, the Houston-based corrosion engineering and technology company, was granted a new patent (US Application 09/202193) for "Assessment of Corrosion."…
Unitor E-Commerce Procurement Goes To Sea
Unitor's 4,500 international shipping customers now have a ready made solution for e-commerce procurement available. The solution makes it possible to electronically…
Jarle Roth Takes The Helm At Unitor
Effective March 2001, Jarle Roth took over as the president and CEO of international ships service provider Unitor. Roth, a qualified naval architect, joins Unitor…
Northrop Grumman Extends Tender Offer For Litton Industries
Northrop Grumman Corporation has extended its pending tender offer for the common and preferred stock of Litton Industries from March 15, 2001, to March 22, 2001.
Increased power for the Sulzer RTA96C
Wärtsilä Corporation has increased the power outputs available from Sulzer RTA96C low-speed marine diesel engines by some four percent, and also added a 14-cylinder…
