Maritime Industry Top News
Keppel Hitachi Zosen Wins $74.6 million Contract
Keppel Hitachi Zosen has clinched a contract to build two cable laying and repair vessels for a total contract value of more than $74.6 million from C. S. Tycom Reliance…
Bath Iron Works Lands $9.2 Million Project
The Office Of Naval Research awarded $9.2 million to General Dynamics Bath Iron Works to design and manufacture an advanced propulsion system for a technical demonstration vessel.
Commission Urged to Mandate Marine
AMRIE (The Alliance of Maritime Regional Interests in Europe) will today present a series of recommendations aimed at improving levels of oil tanker safety in response…
The E-Commerce Revolution
In the last six months, the shipping industry has seen the marine B2B market grow from nothing into a highly competitive race between e-commerce ventures to attract…
Shipping Water Via Water
Finland's largest waterworks Helsingin Vesi is investigating shipping water to the United Arab Emirates, after it had been approached by a consultancy firm hired by the UAE to deliver up to 450…
HHI Ship Order Soar, But Profits Fall
Korea's Hyundai Heavy Industries -- the world's largest shipbuilder -- said it expects this year's net profit to tumble as it had to write off losses stemming from its sister firms.
EC To Investigate Spanish Payments
The European Commission will open a formal investigation into plans by Spanish state holding company SEPI to pay $57 million (10 billion pesetas) to buy a number…
Aker Takes Major Stake In Kvaerner
Aker Maritime has acquired control of about one fourth of Kvaerner for a reported $350 million (3 billion crowns). The purchase made the industrial holding firm…
Cammell Laird Reports Profit
British shipbuilder and repairer Cammell Laird Holdings Plc reported pre-tax profit for the year of 16.6 million pounds, an increase of 54 percent on the previous year.
Black Sea Shipping Owes $95M
Ukraine's Black Sea Shipping company has $95 million in foreign debts which the government aims to restructure and pay off by next year. The Black Sea shipping company…
Algowood Limps Into Port Weller Drydock
The Canadian-flag bulker Algowood was expected to arrive under tow at Port Weller dry docks, Ontario, on July 15. Repairs to the 31,940 dwt bulker are estimated…
BAE, VT Gets Government Contracts
The UK government threw a one billion pound lifeline to Britain's shipbuilding industry, awarding contracts for three new warships to defense groups BAE Systems…
Vopak Executive Quits Over Strategy
Dutch shipping and tank storage firm Vopak NV said a member of its executive board had resigned due to "differences of opinion" regarding the company's future. Van…
Hong Kong Lags Behind Singapore In Logistics, Study Finds
Despite having the world's largest and most advanced air cargo facilities and one of the busiest container ports, Hong Kong lags behind Singapore in providing sophisticated…
Frontline Files Restructuring Plan For Golden Ocean
Frontline filed as of July 7 a financial restructuring plan for Golden Ocean Ltd., currently under Chapter XI administration. Two other competing plans were also…
Oil Majors, Shipowners Merge Online Tanker Exchange
A U.S. oil majors' Internet tanker venture is merging with a shipping dot-com in a bid to become the first live online chartering exchange for the industry. SeaLogistics…
Ship Channel Opening Attempt Fails
The U.S. Coast Guard failed in its weekend attempt to reopen the Lake Charles, Louisiana, ship channel to all ships including large crude oil tankers, a spokesman said.
S&P Cuts International Shipholding Ratings
Standard & Poor's lowered its rating on International Shipholding Corp.'s (ISC) $110 million 7.75% senior unsecured notes due Oct. 15, 2007, and $100 million 9% senior unsecured notes due July 1…
Ship Channel Set To Open Saturday
The U.S. Coast Guard will attempt to reopen the Lake Charles, Louisiana, ship channel to all ships including large crude oil tankers on Saturday, a spokesman said.
Mideast Clean Tanker Rates Slip On Kuwait Effect
Middle Eastern clean product tanker rates slipped as cargoes for some ship sizes became scarce as a result of the Kuwaiti refinery outage, brokers said on Friday…
