Kvaerner Masa Yards won a $1.09 billion contract to build two ships for Royal Caribbean Cruises (RCL). The Eagle-type cruise ships are scheduled to be ready for delivery in 2002 and 2003. "The intentional agreement has been signed under the conditions that the yard can finance construction of the ships," Kvaerner said. "Even though Kvaerner has decided to pull out of shipbuilding and concentrate its operations in other fields -- and the process to find a new ownership structure for Kvaerner Masa Yards is ongoing-- we welcome the deal," Kvaerner Chief Executive Kjell Almskog said. Almskog said the deal boosted the yard's current order book to 19.9 billion crowns from 10.8 billion crowns. "Such an order book will secure the yard in years ahead, independently of ownership structure," Almskog said.
Imperial Majesty Cruise Line purchased the S.S. OceanBreeze from Premier Cruise Lines, said President Arthur M. Pollack. The total value of the deal, including the purchase price and planned upgrades to the vessel, is in excess of $16 million. "The purchase of the OceanBreeze reaffirms our commitment to the short-term cruise concept and the South Florida market," said Pollack. The OceanBreeze began to sail under its new ownership on May 20
Loadmaster International Inc. (LMI) announced a new ownership structure. LMI, with offices in both California and Malmö Sweden, was formerly owned jointly by Herbert Engineering Corp.(HEC) of Alameda, California and Xantic BV of The Hague Netherlands. The Malmö operations LMI AB (former Kockumation) will be acquired by Kockum Sonics, also of Malmö Sweden, and the Alameda operations of LMI will revert to sole ownership as a subsidiary of Herbert Engineering Corp.
Marcon International, Inc. of Coupeville, Washington announced the sale of the 3,900BHP, U.S. flag twin screw tug Maria Brusco (ex-Ocean Service) from a U.S. owner to private overseas buyers for transfer to registry under foreign flag. The 127’ x 32’ x 14’ depth tug was originally built in 1967 by Burton Shipyard Inc. in Port Arthur, Texas as Hull 404 for International Bulk Transport of Wilmington
The majority of the shares of Deltamarin Ltd are to be sold to AVIC International Investments Limited, a publicly listed company on the Singapore Stock Exchange. After the closing of the acquisition, Deltamarin’s existing operations will continue as they are and the business will remain independent keeping the name and the brand of Deltamarin unchanged. The aim of the intended new ownership structure is to enable Deltamarin’s solid growth in the marine and offshore oil and
Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for US$5.3 million. GLDD points out that it retains the right to collect all outstanding accounts receivable and work in process at the date of close
Aker Kvaerner and Aker RGI have entered into an agreement to establish a joint ownership for their wholly owned shipyards in Germany, respectively Kvaerner Warnow Werft and Aker MTW. Among other conditions, the agreement is dependent on approval from Aker Kvaerner's and Aker RGI's lenders. The aim is to implement the new ownership by the end of 2002. Aker Kvaerner will own 40 percent of the two yards. In February Aker Kvaerner and Aker RGI began working closely together in
Canadian entrepreneur Elizabeth Boyd has purchased Nautican, a manufacturer of high-performance integrated propulsion units and hydralift skegs. Ms. Boyd is a naval architect and engineer and has worked with many marine industry service providers. Founded in 1972 by Josip Gruzling, Nautican pioneered the use of hydrofoils to increase efficiency, and conducted groundbreaking research in hydrodynamics, naval architecture and computing
Pump upgrade reduces total cost of ownership through diagnostic capabillity and variable speed drive ALLMIND will protect a pump, maximises efficiency, lower energy usage and lower maintenance and spare parts costs, claims manufacturer Colfax Fluid Handling (a business of Colfax Corporation a leader in critical fluid-handling, transfer solutions for the commercial marine, defense, oil & gas, power and industry).
Nordic Tankers Carries Out a Directed Share Issue To Former Minority Investors in Five Chemical Tankers
Nordic Tankers has today carried out a directed issue of 1,181,809 new shares to former minority investors in the five stainless steel vessels acquired from Clipper and other investors in January 2010. The issue increases Nordic Tankers’ share capital by 3.1% from DKK 37,764,888, nominal value, to DKK 38,946,697, nominal value, and as the share issue constitutes less than 10% of the outstanding share capital no prospectus is required
Marine electronics experts named 11 products in nine categories as winners of the 2014 NMEA Product Awards. Once again, Furuno USA was named Manufacturer of the Year--Support. The winners were announced at the National Marine Electronics Association (NMEA) International
German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered two significant vessels from World War II’s Battle of the Atlantic. The German U-boat 576 and the freighter Bluefields were
Ocean Power Technologies, Inc., announced today that the PB40 PowerBuoy(R) fabricated for the WavePort Project has shipped from Santander, Spain to Bayonne, NJ with the intent to deploy off the coast of New Jersey in the first quarter of 2015
DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling offshore assets to marine contractor and long-term partner GeoSea
Harvey Gulf, a strong driver in the U.S. OSV market and a true leader in the incorporation of LNG-as-fuel in marine vessels, announced that it establishing Harvey Gulf International Marine de Mexico S.A.P.I. de C.V. Recently approved changes in Mexican law allow foreign ownership
Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v “YM Great”, a 2004-built Post-Panamax container vessel of 5
The Meyer Turku Oy yard in Turku, Finland, celebrated a historical day on October 10, 2014. Meyer Turku Oy, which officially changed ownership only three weeks earlier with the takeover by Papenburg, Germany cruise ship building power Meyer Werft, floated out the cruise ship Mein Schiff 4.
The giant corn harvest about to hit full stride in America's Midwest looks set to overwhelm storage and pile up outdoors, grain industry sources said, raising quality issues and making it hard to keep supplies moving. This year's record corn crop of 14
Mitsui O.S.K. Lines, Ltd. President: Koichi Muto) today announced the naming ceremony of 'LNG Venus', a newbuilding liquefied natural gas (LNG) carrier held at the Nagasaki Shipyard of Mitsubishi Heavy Industries, Ltd. (MHI; President: Shunichi Miyanaga; Headquarters: Minato-ku, Tokyo)
Navig8 Chemical Tankers Inc. is pleased to announce that it has signed resale purchase agreements with an agribusiness group to purchase two ECO 49,000 dwt chemical tankers currently under construction at Hyundai Vinashin Shipyard Co. Ltd. that were originally ordered by the Seller
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million
Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Yenisei River
Transocean Ltd. informs that at its recent Extraordinary General Meeting Merrill A. "Pete" Miller, Jr. was nominated as a director and the Board intends to designate him as vice-chairman, with the expectation that he will succeed present chairman Ian C. Strachan in due course.
1300 Volvo Penta Drive Chesapeake, VA 23320 Tel: 757.382.4010 Email: Lindsy.email@example.com Website: www.volvopenta.com CEO/President: Ron Huibers Number of Employees: 1,400 The Company: Volvo Penta, with approximately 4,000 dealers in more than 130 countries
Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised. Despite holding the world's ninth largest gas reserves