World's First FLNG Vessel Steel-Cutting
A steel cutting ceremony for the hull of Petronas' first Floating Liquid Natural Gas (FLNG) held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea.
Carnival Corporation Makes Top Leadership Change
Carnival Corporation plan to split the roles of chairman and chief executive officer. Micky Arison will continue to serve as Chairman of the Board of the company and Arnold W. Donald, will assume the CEO role effective July 3. Arison became CEO in 1979. At that time the company was privately held and operated three cruise ships under one brand, generating $44 million in revenues and carrying approximately 160,000 passengers a year.
China Company Takes Over Sunseeker International
The Dalian Wanda Group, one of the largest Chinese property and cinema groups, will acquire almost 92 percent stake in the leading global luxury yacht company, Sunseeker International Limited, for about GBPDS 320-million. Although the private yachting market is in its early stages in China, this industry is growing rapidly. Wanda's Chairman Wang Jianling states that "China's consumption is growing, especially in the market for high-end luxury products.
Marine Lubricant Suppliers in Global Supply Link-up
Aegean Marine Petroleum Network and SK Lubricants sign an agreement that will allow Aegean to increase its sales volumes in the marine lubricants market and SK Lubricants…
Nordic American Tankers Remain Bullish
Nordic chairman, Herbjorn Hansson
, in a letter to shareholders, believes that the tanker markets remain soft, due primarily to the excess supply of vessels; but the longer term outlook is more encouraging. "The order book for new vessels is declining and starting in 2014 we expect only a modest number of newbuildings will be launched. We also expect older vessels will continue to be scrapped. Consequently, the suezmax tanker markets should start tightening again.
Labor Leader Clyde Fitzgerald Appointed Port of Houston Commissioner
Harris County Commissioners Court has appointed longtime labor leader Clyde Fitzgerald to serve as a member of the Port Commission of the Port of Houston Authority. Fitzgerald's appointment fills the seat of former Port Commissioner Jim Fonteno, who submitted his resignation to Commissioners Court in April, indicating his desire to spend more time with his wife and two young daughters. Clyde Fitzgerald…
Horizon Lines Plan Diesel/LNG Engine Fuel Conversions
Horizon Lines plans to convert the power plants on two of its steam turbine cargo vessels to modern diesel engines capable of burning conventional liquid fuels or liquefied natural gas (LNG). "We are viewing this as the first step in a repowering initiative for Horizon Lines vessels serving in the Hawaii and Puerto Rico trade lanes," said Sam Woodward, President and Chief Executive Officer. "The two…
Warship 3D Artisan Radar Fitted to HMS Iron Duke
Portsmouth-based 'HMS Iron Duke' has returned to sea after a 16-month upgrade and now boasts one of the world's most advanced radar systems. As part of a £100 million programme, Artisan (advanced radar, target indication, situational awareness and navigation) will be fitted to all the Navy’s 13 Type 23s as well as the 2 future aircraft carriers. The Type 23’s replacement, the Type 26 Global Combat Ship , may also carry the system when it enters service next decade.
USA Maritime Applauds Continuation of 'Food for Peace' Program
USA Maritime praises the House of Representatives for rejecting the Royce-Engel amendment that would have dramatically altered the existing PL 480 Food for Peace Program. The action in the House, according to USA Maritime Chairman James Henry, “Demonstrates a clear recognition that this cornerstone of America’s foreign aid programs is not only the most successful in addressing world hunger but provides numerous important economic and national security benefits to the American people.
Carnival Corp Report Profit Slide in Q2 2013
Non-GAAP net income of $72 million, or $0.09 diluted EPS for the second quarter of 2013 compared to non-GAAP net income for the second quarter of 2012 of $159 million, or $0.20 diluted EPS.
China Oilfield Services Order 15 Offshore Vessels
China Oilfield Services Limited (COSL) has signed agreements with 5 different shipbuilders for the construction of 15 vessels of various types to serve China's offshore industry.
Russia's Second Mistral Warship Construction on Track
Russia’s second Mistral-class, amphibious assault ship will be complete in October 2014. A deputy prime minister in charge of the defense industry confirmed construction to be on schedule, adding that the first Mistral would enter the nation’s fleet in October 2013. Speaking live on national television network NTV, Deputy Prime Minister Dmitry Rogozin added that construction of the stern for the first such helicopter-carrying warship would finish at St.
Imtra Names New CFO
Imtra, a manufacturer and importer of marine products, announced today the hire of Jeff Vancura to be the company’s next Chief Financial Officer (CFO). A finance veteran with 20 years of executive experience, Mr. Vancura has held similar roles for Double E Company, TPI Composites and Mettler-Toledo Thornton. In addition to his financial duties, Mr. Vancura is also a member of Imtra’s strategic planning team. Mr.
Creditors to Pursue ARA Vessel Arrests as Bankruptcies Escalate
Rotterdam-based law firm AKD says that creditors of ailing shipping groups such as STX Pan Ocean of South Korea, and TMT of Taiwan, could seek to take advantage…
Today in U.S. Naval History: June 25
Today in U.S. For more information about naval history, visit the Naval Historical Center website at www.history.navy.mil.
Port of L.A. Recognizes Green Initiatives
The Port of Los Angeles honored 26 shipping and cruise lines for their participation in the Port’s Vessel Speed Reduction Program (VSRP), an initiative that involves…
Cheoy Lee Yachts "Expresses" Interest in Racing
Do yachting and racing mix? Yes, when powerboat veteran Gene Weeks, his wife, Paula and yacht builder, Cheoy Lee Shipyards, join the Powerboat P1 Superstock Series. When the venerable Cheoy Lee Motoryachts took advantage of the market evolution from super-yachts to smaller, sleeker Express Yachts, the company tapped the expertise of Gene Weeks who raced and had helped build brands like Donzi and Statement.
International Ice Patrol Gallery Opens at Mystic Aquarium
The Sea Research Foundation opened its “Titanic – 12,450 Feet Below” in the Ocean Exploration Center of the Mystic Aquarium in Connecticut in April of 2012. This year, the Foundation expanded the exhibit to include a gallery about the U.S. Coast Guard International Ice Patrol as a positive outcome of the tragedy. The addition officially opened in April of 2013, the month that also marked the Ice Patrol’s centennial.
Tidewater Announces Refinance Package
Tidewater Holdings, Inc. announced that it has entered a $115 million refinance package with Northwest Farm Credit Services. Northwest FCS was the lead arranger…
Senate Suggests $1B for 2014 Maintenance Dredging
The U.S. Senate Appropriations Committee’s Subcommittee on Energy and Water Development completed its mark up of the fiscal 2014 appropriation bill for the U.S. Department of Energy and U.S.
