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…
Sri Lanka Navy Thwarts Attack on Passenger Ship
Sri Lanka Navy thwarted Liberation Tigers of Tamil Eelam militant attacks and saved the lives of 854 unarmed soldiers, who traveled from Kankesanthurai to Trincomalee…
Effort Underway to Assist in Lebanon Oil Spill
An oil storage unit at a power plant in Jiyyeh, 30 km south of Beirut, sustained damage between July 13 and July 15. Precise details of the incident are yet to emerge.
Navy Salvage Man Dies on Cougar Ace
The Alaska Coast Guard is reporting that a member of a salvage team looking at how to stabilize a listing ship in the Aleutian Islands died when he lost his footing…
Stallion Acquires AOQ
Stallion Oilfield Services Ltd. completed the acquisition of Abbeville Offshore Quarters, Inc. (AOQ). The purchase marks the entrance of Stallion into the global offshore accommodations market.
Analysts: Demand for LNG Tankers Decreasing
Excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, as a growing worldwide fleet results in lower utilization rates…
Chicago Bridge Wins $1B Contract
Chicago Bridge & Iron Co. N.V. on August 1 was awarded a contract, valued at more than $1b, by Golden Pass LNG Terminal LLC for the construction of a liquefied natural…
