NSRP Research Announcement Revision
The National Shipbuilding Research Program has issued a revision to Research Announcement (RA) 10-01 which was announced May 25. The RA is also published on the…
Vinashin Asks Bondholders to Write Off Debt
A report from Bloomberg sited a bondholder who met with Vietnam Shipbuilding Industry Group, saying the state-owned company, with more than $4b in debt, asked holders…
Nordic American Tanker AGM Results
Nordic American Tankers Limited announced the official results of its 2011 Annual General Meeting, held on June 1, 2011 at 10:00 a.m. in Hamilton, Bermuda. 5. The…
TORM Sale, Leaseback Agreement
TORM has entered into a sale and leaseback agreement for the product tanker TORM Margrethe. The vessel has been sold for a total consideration of $46m. The transaction…
Plaquemine Ferry Returns to Service
The Department of Transportation and Development (DOTD) announced that the Plaquemine ferry will return to service on Monday, June 6. The Plaquemine landing was…
Kvichak Gets Coast Guard TPSB Contract
Kvichak Marine Industries, Inc., of Seattle, Wash., was recently awarded a five year contract by the U.S. Coast Guard for the construction of up to 80 each Transportable Port Security Boats (TPSB). The all-aluminum vessels are operated by a crew of four and include shock mitigating seats to minimize crew fatigue on extended missions. Ballistic Armor Protection and up to four mounted weapons provide increased mission capability and crew safety during tactical operations.
ABB Strengthening Marine Presence In Brazil
An Azipod C factory is planned to better serve the growing market in Latin America May 25, 2010 – ABB, the leading power and automation technology group, is planning to strengthen its marine business presence in Brazil, in order to serve the growing market in Latin America more effectively. Latin America has quickly become a key strategic area for ABB’s marine business. Future plans, which include the establishment of a new Azipod C factory…
ABS Provides Guidance For Gas Fuelled Ships
With rising fuel costs and today’s global interest on emission reduction, liquefied natural gas (LNG) is considered a promising alternative fuel for all type of ships. In response to industry’s need for technical guidance for new construction and existing vessel conversion, leading class society ABS announced today the release of its Guide for Propulsion and Auxiliary Systems for Gas Fuelled Ships.
Optimarin Aligns Structure to Meet Demands
Based on planned IMO compliance deadlines, over 50,000 merchant ships will need to install certified BWT systems by 2016 or 2017; that’s about 10,000 ships per year for five or so years after ratification. Optimarin, a world leader of ballast water treatment systems, is setting its sights on retrofits and newbuilds that represent great opportunity for future business growth. Optimarin today announced global expansion of its company after a period of significant activity…
Alnmaritec Supplies New Pollution Control Boats
Alnmaritec Limited, which is recognised as one of the UK's leading specialist boat builders, has recently delivered two new oil pollution control boats for operation in Asia. The new ‘Wave Skimmer’ class boats were delivered by Alnmaritec earlier this year to Elastec American Marine who also supplied all of the oil recovery and storage equipments on board. These boats follow on from the successful…
Horizon Lines Reaches Agreement for Refinance
Horizon Lines, Inc. (NYSE: HRZ) today announced that it and holders of the majority of its 4.25% convertible senior notes have entered into agreements for a transaction that will refinance the company's entire capital structure. The agreement with the note holders contemplates a complete refinancing, in conjunction with a new asset-based revolving loan facility (ABL) of up to $125 million, which is under negotiation with a leading financial institution.
Celebrity Silhouette's First Public Appearance
The sleek silhouette of Celebrity Cruises’ new Celebrity Silhouette has emerged from Meyer Werft shipyard in Papenburg, Germany, where numerous area residents lined up to be among the first to see the fourth in Celebrity’s stylish, five-ship Solstice Class fleet. Celebrity Silhouette sets sail in July of this year, enhancing guests’ precious vacation time with a host of industry-first venues and experiences within The Lawn Club…
Insurance Industry Must Take Data Governance Seriously
Leading accountant and insurance industry adviser Moore Stephens has questioned whether data governance is being accorded the attention it deserves by the insurance industry. Recent FSA Arrow visits have highlighted a number of frequently recurring problems in insurance firms relating to risk management, governance, data and reporting. These include poor risk control culture, poor reporting, ineffective governance…