Horizon Offshore Completes $77M Refinancing
Horizon Offshore, Inc. Inc. (the CIT Group). bears interest at LIBOR plus 4.5% per annum. unpaid interest due at maturity in March 2011. term loan facility agented by Manchester Securities Corp.
Coast Guard, FEMA to Help Raise Ships
Boats and vessels sunk by Hurricane Katrina soon will be removed by the Coast Guard in 10 St. Tammany Parish waterways, according to Parish President Kevin Davis.
Cummins Power for Russian Towboats
Pella Shipyard in the Leningrad region of Russia will deliver two pusher type towboats to their owner “Best” of Samara, Russia in late summer of 2006. Designed by Spetssudoproekt of St.
Report: 103 to 130 Floating Production Systems Over Next 5 Years
A new study by IMA calls for a major ramp up in orders for floating production systems over the next five years. The 125 page report issued in March provides a detailed…
Aker Yards to Refinance
In order to finance the acquisition in France, already announced, to strengthen the balance sheet as a result of increasing activity, and to make the debt structure more long term…
Aker Yards to Modernize Vessels
Aker Yards and the Finnish Navy have signed a contract for modernizing two mine layers. The order worth $33 million means 200 man years of work for Aker Yards, Rauma…
CG, FEMA to Help Raise Ships
Boats and vessels sunk by Hurricane Katrina soon will be removed by the Coast Guard in 10 St. Tammany Parish waterways. The project by the Coast Guard will begin…
Second P-MAX Tanker Delivered
Concordia Maritime took delivery of the second P-MAX tanker, Stena Provence, from the Brodosplit shipyard in Croatia. French oil company TOTAL for five years. All…
Topgallant Plate Production Implemented at Aker Yards
Aker Yards Germany and Atlantec Enterprise Solutions announce the implementation of Topgallant Plate Production software at the Aker shipyards in Wismar and Warnemunde.
GE, Dept. of Energy Enter Partnership
GE Global Research in Niskayuna announced it has entered into a $27 million partnership with the U.S. Department of Energy to design a next-generation offshore wind turbine.
GulfMark 4Q Results Show 8% Decline
GulfMark Offshore Inc. announced results for the fourth quarter, reporting an 8% decline in earnings despite higher revenue. The Texas-based company reported that…
Dubai defends Maritime Security Record
The security record of DP World, the state-owned company that runs the port at Jebel Ali, became a political issue in the past month after U.S. legislators started…
Northrop Grumman Makes New Appointment
Northrop Grumman Corporation has appointed Ann Fortenberry vice president of trades management, training and development for the company's Ship Systems sector, effective March 20.
First Iran-made Liner Set for Launch
The first Iran-made ocean liner, named Iran-Arak, will be launched next week, Iran Mania reported. The Iran-Arak is the largest ocean liner constructed by a Middle Eastern country…
CalMac Likely to Secure Ferry Route
State-owned ferry operator Caledonian MacBrayne has been announced as the preferred bidder for the service to Orkney and Shetland from the mainland. The contract…
Red Dragon II Production Begins
The 52m (170ft) sloop Red Dragon II commenced construction at Alloy Yachts Auckland New Zealand in March 2006. Contracted by an International Yachtsman, Red Dragon…
AMDETECH Acquires Makor K-9's Cruise Line Business
American Detection Technologies, Inc. (AMDETECH) recently announced the acquisition of Makor K-9 LLC's cruise line business. Under the terms of the transaction,…
German Group Eyes Shipbuilding Investment
A group of German companies is exploring the possibility of setting up a shipbuilding and shipyard project in West Bengal with special emphasis at the port city of Haldia in East Midnapore district.
TORM Announces 2005 Results
A/S Steamship Co TORM (TORM) shipping company announced its results for its fiscal year ended December 31, 2005. The company said that the results for 2005 were better than expected…
TEN Buys 9 Tankers for $530M
TEN, the New York quoted Greek tanker company controlled by the Tsakos family, confirmed it has bought for nine ice class 1A tankers from Western Petroleum for $530 million.
