Changing Russian Export Patterns
Russia has the seventh largest oil reserves in the world (6% of total), after 5 Middle East Countries (totalling 63%) and Venezuela (7%). The other Former Soviet Union (FSU) republics Azerbaijan…
Australia Introduces Penalties for Pollution
In an effort to increase enforcement of MARPOL and reduce deliberate oil discharges into the sea, the Australian Maritime Safety Authority (AMSA) has increased penalties…
Bradford and Larry Smith Electronics Form a Joint Venture
Bradford Grand Bahama, Ltd. (Bradford) and Larry Smith Electronics (Larry Smith) announce that they have signed a Memorandum of Agreement to form a new Joint Service Venture in the Bahamas.
Austal USA Delivers Circle Line’s First High-Speed Vessel
Austal USA celebrated the delivery of its sixth vessel on August 6, 2003. This 143ft passenger catamaran left Austal’s yard in Mobile, Alabama, on her way to Circle Line-Statue of Liberty Ferry, Inc.
Tanker Penrider Attacked by Pirates in the Straits of Malacca
The MT Penrider, owned by Malaysian interests, laden with 1,000 mt of fuel oil was en route from Singapore to Penang when it was attacked off Port Klang by armed pirates at about 13.30 hrs.
U.S. Navy Awards General Dynamics $8.7B Contract for Six Virginia-Class Subs
The U.S. Navy has awarded General Dynamics Electric Boat an $8.7 billion block-buy contract for the construction of six Virginia-class submarines, the largest submarine order in U.S. history.
Wärtsilä and Volvo Penta to Collaborate
Wärtsilä will start servicing and selling large Volvo Penta engines for commercial shipping applications, initially in selected markets and later globally. Volvo…
