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
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
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.
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
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
Romania's privatization agency, the State Ownership Fund (FPS), is reported to have sold its stake in bunkering company Navcom to Yemen's Overseas Shipping & Stevedoring Co.
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
Damen Services, part of Damen Shipyards Group, said that its Damen Asset Management Operating System (DAMOS) has been independently approved by classification society Bureau Veritas. DAMOS is a unique vessel maintenance management system that allows customers to maximise uptime and optimise cost of ownership. DAMOS is part of the Damen Services Lifecycle Support System and identifies and categorizes all on-board systems of a vessel
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).
The Executive Control Board of the National Shipbuilding Research Program (NSRP) has selected four major research and development projects for award, as part of the program's continuing mission to reduce costs associated with U. S. shipbuilding and ship repair
Mitsui O.S.K. Lines (MOL) inform it has signed a Head of Agreement on joint ownership and 20-year charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker Co., Ltd. At the same time, MOL signed a contract with Japan Marine United Corporation to build the new vessel.
Australia's Victoria state government said it may sell Port of Melbourne, the country's largest container and general cargo port, continuing a rush by states to sell major assets to fund new infrastructure projects. Victorian Treasurer Michael O'Brien said the government will commission a
A changing tax landscape doesn’t have to mean bad news – at least not just yet. A Changing Landscape Historically, bonus depreciation has had a significant effect on construction of new vessels, allowing businesses to initially expense 30 percent
Teekay Tankers Ltd. and Teekay Corporation today jointly announced the creation of Tanker Investments Ltd. (TIL), which will seek to opportunistically acquire, operate and sell modern secondhand tankers to benefit from an expected recovery in the current cyclical low of the tanker market
Total 2013 throughput at Marseilles Fos confirmed containers, steel industry bulks, LNG and cruise traffic as the growth drivers at the French port. In contrast, a mounting decline in crude oil and petroleum volumes pegged overall cargo to 80 million metric tons for the year, down 7% on 2012.
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini
Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of three 20,600 CBM semi-refrigerated LPG carriers with an expected cost per vessel of $51 million (USD). Following an evaluation of current newbuild and time
Statoil and the Thai exploration and production company PTTEP have signed an agreement to divide their respective interests in the Kai Kos Dehseh (KKD) oil sands project in Alberta, Canada. Following the transaction, Statoil will continue as operator and 100% owner for the Leismer and Corner
During the PVA Annual Convention at MariTrends 2014, held January 18-21 in Houston, members of the Passenger Vessel Association (PVA) elected Terri Bernstein, BB Riverboats Newport, Ky., as PVA President for 2014. Also elected to terms as PVA Officers for 2014 were: PVA Vice President:
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that it has signed, through a separate wholly-owned subsidiary, a memorandum of agreement to sell to an unaffiliated third party the 1995-built vessel APL Sardonyx (to be renamed
DockMaster, a suite of marine business software, will stage its latest user conference this week as its client roster continues to grow under new ownership. More than 100 DockMaster customers will gather in West Palm Beach, Fla., for the free DockMaster User Conference: OnBoard 2014
Statoil, together with PL532 partners, has made a gas discovery in the Kramsnø prospect in the Barents Sea. The exploration program around the Johan Castberg field has been vital in providing area knowledge, but so far not delivered expected oil volumes.
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it took delivery of the newly built m/v Crystalia, an Ice Class Panamax dry bulk vessel of 77,525 dwt that was contracted in March 2012.
Virtually all large Mediterranean transhipment hub ports recorded double digit growth in 2013, well above regional and global growth levels, notes the latest edition of Drewry's Container Insight Weekly. Once all full year data is collated