Daewoo Reports Hefty Losses
Daewoo Heavy Industries Co. (DHI)announced a loss in the first- half of this year of 337.7 billion won ($302.9 million), compared with net income of 53.2 billion won in the same period last year.
Norway Holds Emergency Meeting Regarding Sub
Norway called a meeting of a crisis team for radioactive accidents on Monday, August 14, after technical faults forced a Russian nuclear submarine to run aground on the sea bed off northern Russia.
Russian Nuclear Sub Trapped On Bottom
More than 100 Russian sailors are reportedly trapped in their nuclear-powered submarine on the sea bed off northern Russia, after technical faults apparently forced…
Is the Honeymoon Over In Philadelphia?
Launched nearly two years ago with high expectations of an efficient U.S. Shipbuilding facility, it appears the revitalization of the Philadelphia Naval Shipyard…
Full Steam Ahead For Big Cruise Lines
Despite softening per passenger yields and unprecedented expansion, big lines have no plans on curtailing new deliveries. Big cruise lines, despite a buffeting from soft ticket prices…
Jurong Shipyard Wins Cableship Contract
SembCorp Marine said on Thursday its unit Jurong Shipyard Pte Ltd has signed a $38.8 million contract to build a cable-laying and repair vessel for ASEAN Cableship Pte Ltd.
HHI Profits Plummet 68%
Korea's Hyundai Heavy Industries expects to post a net profit of $39.8 million (44.4 billion won) in the first half, down 68.2 percent from the first half of 1999.
Viktor Lenac Gets $25M Contract
Croatian ship repairer Viktor Lenac won contracts worth $25 million to refit two foreign ships by the end of this year. One ship is owned by Baltimore-based Caldwell…
Whales Alter Adriatic Navigation
Last week Croatian maritime authorities restricted navigation off the Adriatic coast to allow two stray whales to find their way out to deep water, Reuters reported.
Engine Room Explosion Cripples Freighter
The Cyprus-flag freighter Theofano is without power northeast of Crete after an engine-room explosion, Reuters reported. One crew member of the 17,330-dwt vessel…
Large Tanker Rates Soar
Large tanker rates are soaring for Middle Eastern oil as charterers rush to grab ships for September cargoes before they run out, brokers said late last week. Rates…
Bollinger Acquires Five Friede Goldman Shipyards
Bollinger Shipyards, Lockport, La. is now known as the largest vessel repair and conversion company in the Gulf of Mexico region upon its acquisition of the five…
Tidewater To Purchase Platform Supply Vessels
Tidewater, Inc. has signed agreements, (which are subject to completion of normal due diligence matters), to buy two 220 ft. UT755 type platform vessels at an aggregate purchase price of $2.4 million.
Hvide And Tesoro Commence Double Hull Service
Hvide Marine and Tesoro Maritime have begun a new double-hull petroleum transport service in Alaskan waters. The 46,000-ton HMI Cape Lookout Shoals - one of Hvide's…
U.S. Attorney General To Christen Coast Guard Cutter
Marinette Marine Corporation will launch the U.S. Coast Guard Cutter SPAR August 12. The SPAR is the sixth ship in a series of sixteen Seagoing Buoy Tenders, which…
DNV Garners Additional USCG Authorization
Det Norske Veritas (DNV) is now cleared by the U.S. Coast Guard to administer the following certificates: SOLAS Cargo Ship Safety Construction Certificate; SOLAS…
Hornblower Marine Appoints Corporate Director
Hornblower Marine Services has elected Marc C. Cruder as director of Vessel Construction, Compliance and Safety. Cruder recently retired from the U.S. Coast Guard…
Lockheed Martin Wins Search And Rescue Upgrade Contract
Lockheed Martin Naval Electronics & Surveillance Systems-Syracuse (NE&SS-Syracuse) will assist the U.S. Coast Guard with a significantly large upgrade to its Search…
Racal Pelagos Granted $40 Million NOAA Contract
Racal Pelagos, a unit of the Racal Survey Group of companies, has been awarded a $40 million, four-year hydrographic survey contract in Alaska by the National Oceanographic…
Australian Company Mulls DHI Stake
South Korea's Daewoo Heavy Industries has received a letter of intent from Australia's New Castle Heavy Industry expressing interest in taking a stake in its shipbuilding unit.
