New contracts for Dockwise
Dockwise Ltd. announced that three new contracts have been awarded to their subsidiaries Dockwise Shipping and ODL for the transportation of a semi submersible drilling rig…
Star Bulk to Change Accounting Policy for Drydocking Costs
Star Bulk Carriers Corp. announced that starting with its fiscal first quarter ended March 31, 2008, it has elected to change its policy for accounting for vessel…
This Day in Naval History - May 14
1801 - Tripoli declares war against the United States. 1836 - U.S. scientific expedition overseas. 1845 - First U.S. warship visits Vietnam. 1975 - Marines recapture Mayaguez…
ASA and OMSA Establish Affiliate Membership
The American Salvage Association (ASA) and the Offshore Marine Service Association (OMSA) have agreed to establish a reciprocal Affiliate Membership relationship.
USS Carr Trains with Local Coast Guard, Builds Relationships
Sailors from USS Carr (FFG 52) completed theater security cooperation events and training to improve interoperability with the Barbados Coast Guard during a four day visit to Barbados, May 4-7. The Barbados Coast Guard has recently increased its forces and conducted more training in an effort to counter narcotic-drug trafficking. Part of that training involved Carr Sailors training the Barbados Coast Guard on U.S. Navy visit, board, search and seizure (VBSS) tactics. Lt.
USCG Identification Documents for Foreign Crewmembers
The US Coast Guard proposes to require each crewmember on a foreign commercial vessel en route to a US port or place or at a US port or place and each crewmember…
Varun Shipping to Invest $300m
Varun Shipping reportedly will invest $300m to buy at least four new vessels in the offshore segment this year, according to a Reuters report. Varun is positioning…
McDermott Profit Falls 22%
Revenue increased 6 percent to $1.45b from $1.36b a year earlier, as higher offshore oil and gas construction and government revenue offset lower power generation systems revenue.
USN Repair Funds Awarded
BAE Systems Norfolk Ship Repair, Norfolk, Va., is being awarded a $5,818,376 modification to previously awarded contract (N00024-05-C-4403) for exercising an option…
NOL 1Q Profit Up 183%
Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2008 (1Q08) of $121 million, a rise of 183% over the same period of 2007 (1Q07). 1Q08 EBIT was $137 million, up 114% on the prior year. Revenue rose year-on-year by 27% to $2.41 billion. “Our increased revenue clearly shows our Group is well positioned in a growth industry. At a time of economic uncertainty and unprecedented fuel costs…
Euronav Sells Tankers
announced that the company sold two double-hull Aframaxes, the Fantasy (2002–106,560 dwt) and the Fidelity (2002–106,548 dwt), for an aggregate selling price of $137 million.
Partnerships of Deep-Sea Methane Scavengers Revealed
The sea floor off the coast of , , is home to a diverse assemblage of microbes that scavenge methane from cold deep-sea vents. Researchers at the California Institute…
Braemar to Undergo Lengthening at Blohm + Voss Repair
The cruise ship Braemar entered the Elbe 17 Dock at Blohm + Voss Repair on May 13 for lengthening and other conversion work. The ship, which belongs to the Fred.
Incat Natchan Rera Receives Award
The Natchan Rera, the first of Incat’s 112 metre Wave Piercing Catamarans, has been recognized at Europe’s annual ferry industry event, the Shippax Ferry Shipping Onboard Conference, attended by some 300 ferry shipping executives. Japan’s Higashi Nihon Ferry won the coveted ShipPax Hispeed Concept Award, recognizing the implementation of an integrated ferry system with state-of-the art port terminals as well as the largest diesel powered high speed ferry with separate truck and car decks.
MSC Napoli Report Adds Support to Cargo Mis-Declaration
The ’s Marine Accident Investigation Branch (MAIB) report into the MSC Napoli incident has shown that mis-declaration of the weight and contents of containers was…
Aker Solutions Secures Dow Engineering Contract
The Dow Chemical Company has awarded Aker Solutions a contract to provide engineering services for Dow supplied technologies. Aker Solutions' engineering services…
TBS Announces Follow-On Offering of Common Shares
TBS International Limited announced that it and certain of its shareholders have commenced a follow-on offering of a combined 3,400,000 Class A Common Shares. Jefferies & Company, Inc.
Shortage of Project Cargo Ships
According to CNA, exporters of industrial products are being advised by international buyers they are missing opportunities in selling their goods abroad because…
Gdynia Shipyard May Go Bankrupt
Reports indicate that the economic situation of the Gdynia Shipyard on the has worsened recently. Trade unionists organized a rally in front of the prime minister's office in .
MISC Boosts Reports Q4 Profit
Malaysian liquefied natural gas shipper MISC Bhd reported a 10 percent jump in fourth-quarter net profit on Monday, boosted by its heavy-engineering unit and offshore businesses.
