Frontline Sells Share in Gen. Maritime, Orders Ships
The 3.86m shares were sold at $40 per share to World Wide Shipping, and Frontline will record a gain of about $9.7 million in the third quarter from the sale, it said in a statement.
Maersk Names New Containership
On August 12, Odense Steel Shipyard presented its latest newbuilding, an 11,000 TEU container vessel, for the A.P. Moller - Maersk Group. Ane Mærsk Mc-Kinney Uggla…
NASSCO Holds Naming Ceremony for Final BP Tanker
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, held a ceremony to name the fourth and final double-hulled oil tanker it is building for BP Shipping Ltd., the Alaskan Legend.
MISC Profit Down 29%
MISC Bhd reported that first quarter net profit dropped 29 percent on lower freight rates for its liner and petroleum divisions. The industry is expected to be either…
MISC Looks for Takeover Targets
MISC Bhd, the world's largest carrier of liquefied natural gas (LNG), is on the lookout for takeover targets to help it grow amid softer shipping rates, according…
Double Hull Tankers Shares Slide
Shares of Double Hull Tankers Inc., shipper of crude oil, fell on Monday after a Citigroup analyst said the stock was overvalued, the Associated Press reported.
Nuclear-powered Savannah to get Makeover
Savannah, an old nuclear-powered ship that spent time in Charleston Harbor as a tourist attraction, is getting a face lift for a possible new tour of duty, according to a report on www.charleston.net.
Todd Shipyards to Overhaul CVN-72
Todd Shipyards Corporation said that the U.S. Navy has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation, a $10,949,272 modification to…
Kone Wins Cruise Ship Order
Kone received an order from Celebrity Cruises to design, supply and install lifts for three passenger cruise ships. Kone is to supply a total of 69 units including passenger elevators…
Viking Supply Ships Acquires SBS Marine
Viking Supply Ships AS (VSS), a wholly owned subsidiary of Kistefos AS, has acquired a Scottish-based platform supply vessel company in a strategic move designed…
Navy Tug Fights Fire Aboard Freighter in Liberia
USNS Apache (T-ATF 172) responded to a shipboard fire aboard a commercial freighter while repairing the port of Monrovia, Liberia’s, damaged commercial pier and surveying the city’s harbor, Aug. 10.
Coast Guard Monitors Sunken Tow Boat
Coast Guard Marine Safety Unit Port Arthur is monitoring the pollution threat and structural integrity of the 132-foot, U.S.-flagged towing vessel Mama Lere, which…
Sen. Lott to Speak at Christening of Makin Island
Pascagoula, Miss. shipyard since Hurricane Katrina, Sen. Miss. August 19, 2006 christening of Makin Island (LHD 8). travel at speeds up to 20+ knots. It will carry a crew of approximately 1…
Knightsbridge Tankers Announces 2Q Results
Knightsbridge Tankers Limited reported net income of $7.9 million and earnings per share of $0.46 for the second quarter of 2006. The average daily time charter…
Hyundai Heavy Industries Says Profit Up
Hyundai Heavy Industries Co. last week posted a more-than-fivefold increase in second-quarter net profit amid higher ship prices and lower steel costs. Hyundai Heavy…
New Speed Limit to Save Whales?
Federal officials are considering speed limits for large ships that could reduce collisions with whales, according to a report in the Baltimore Sun. The National…
New President at Embarcadero Systems
Embarcadero Systems Corp. (ESC), a division of MTC Holdings and global provider of innovative transportation technology solutions, has announced the appointment…
LCS Propulsion Contract to Rolls-Royce
Rolls-Royce has won an order for the largest naval gas turbines in the world to power a next generation U.S. Navy warship. Two Rolls-Royce MT30 gas turbines will…
Fuel Costs Pressure NOL Earnings
Neptune Orient Lines (NOL) reported a net profit of $187m for the first half of 2006, down 52% from the same period of 2005. The company posted a second quarter net profit of $67 million…
Service Deal Signed for LCACs
L-3 Communications Titan Corp. Unidyne Division, Norfolk, Va., is being awarded a $22,712,231 firm-fixed-price contract for the Service Life Extension program (SLEP) for three Landing Craft…
