GL Contracts 60th Ship with Chinese Yard
A 19,800 dwt stainless steel chemical tanker vessel is the 60th ship being built with Germanischer Lloyd class at Qingshan Shipyard. The 10th anniversary of close…
Maritrans Reports 2Q Earnings
Maritrans Inc. announced its second quarter financial results and declared its quarterly dividend. Net income for the quarter ended June 30, 2006 was $3.6m, or $0.30 diluted earnings per share…
Cruise Ships Prepare for Hurricane
Five Miami-based cruise ships have changed their itineraries to avoid Tropical Storm Chris. Forecasters have issued a hurricane watch for the southeastern Bahamas…
GE Shipping Misses Demerger Deadline
The deadline for the demerger of Great Eastern Shipping Company (GE Shipping), has expired. Business Standard reports that it is not known whether the company would…
Kenya: $11M Security Boost For Ports
Security at Kenya’s ports is being upgraded at a cost of more than $11m. The World Bank-funded project includes the installation of an integrated security solution…
Putin Calls for Shipbuilding Plan
President Vladimir Putin asked for a government plan by October to enable the nation's shipbuilders to compete with countries including South Korea, the world's biggest shipbuilder.
Vinashin Eyes Investments
The Viet Nam Shipbuilding Industry Corporation (Vinashin) will need $2.5b to carry out projects under the strategy on ship exports until 2010. To meet the target…
MSCGI Signs Agreement to Acquire Heidmar
Morgan Stanley Capital Group Inc. (MSCGI), has reached a definitive agreement to acquire the Heidmar Group of companies, including Texas-based Houston Marine Services, Inc. (Heidmar).
J.F. Lehman Acquires Atlantic Marine
J.F. Lehman & Company, a New York-based private equity investor, completed a control investment in Atlantic Marine Holding Company, a provider of repair, overhaul…
2Q Results for GlobalSantaFe
GlobalSantaFe Corporation reported net income for the quarter ended June 30, 2006, of $248.5m, or $1.01 per diluted share, on revenues of $773.4m. The results compare with net income of $85.1m…
Teekay Reports 2Q Results
Teekay Shipping Corporation reported net income of $20.4m, or $0.27 per share, for the quarter ended June 30, 2006, compared to net income of $104.6m, or $1.23 per share…
ACL Appoints Koshewa to VP
American Commercial Lines Inc. appointed Tamra L. Koshewa as its vice president of finance and corporate controller. Koshewa brings her financial and accounting…
Coast Guard Celebrates 216 Years
Local Coast Guard units plan on celebrating the Coast Guard's 216th year of serving the American public and protecting the nations waterways tomorrow. August 4, 1790…
Cougar Ace Situation Update
A Unified Command of federal, state and shipping company representatives continues to make efforts to right the ship Cougar Ace and plan contingencies for towing…
USS Asheville Departs for Western Pacific
Sailors aboard nuclear-powered attack submarine USS Asheville (SSN 758) said farewell to friends and family members just before departing San Diego for a Western Pacific deployment, Aug.
Hornbeck Offshore Announces 2Q Results
Hornbeck Offshore Services, Inc., announced record results for the second quarter ended June 30, 2006. Second quarter revenues increased 72.0 percent to $70.7mcompared…
