Royal Olympic Cruise Lines Inc. has announced a loss for the fiscal year 2001, ended November 30, 2001. The events of September 11 had a substantial impact on the company's results and in the period September to November 2001, booking cancellations exceeded 3,000. EBIDA fell 25 percent from $ 21.7 mil in 2000 to $9.8 million in 2001. The inclusion of the first new vessel, Olympia Voyager, for a full year, resulted in additional interest and depreciation charges of $9.5 million, giving rise to operating losses of $18.4 million vs. profit of $3.2 million last year. The results were further deteriorated by non-operating losses on the valuation of financial instruments, in connection with the acquisition of the second new vessel, Olympia Explorer, of $7 million and a charge of $1.1 mil, resulting from the adoption of a new accounting policy on the treatment of financial instruments, bringing overall losses to $25.4 million vs. profits of $1.5 million last year. Revenues for the year however increased from 2000, reaching $128.8 million reflecting what had been an improvement through the summer in 2001, and a full year of operations for the company's first new building, the Olympia Voyager. Passengers increased by 19.8% to 146,739 and passenger days increased by 159,289, or by 20.6%. Operating expenses increased by $12.5 million to $93.6 million in 2001
Responding to a published report that their vessel Olympia Explorer was ordered by the court in Honolulu to remain in Hawaiian waters, Royal Olympic Cruise Lines Inc. announced that a temporary restraining order that had been issued by the U.S. Bankruptcy Court at 1 p.m. Wednesday, December 17, was rescinded two hours later. The vessel sailed from Honolulu the same day and is presently continuing the performance of its scheduled cruise among the Hawaiian islands and its voyage to San Diego and
Ocean Rig UDW Inc. (NASDAQ:ORIG) received a Letter of Award for its ultra deepwater drillship “Ocean Rig Olympia”, from a major oil company. The Letter of Award is for a three- year contract for drilling offshore West Africa, with an estimated backlog of approximately $652 million. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence in direct continuation of the Ocean Rig
Navigation Ltd. (TEN) announced that it has taken delivery, pursuant of the exercise of its option in October 2006, of the 1999-built double-hull Aframax tanker Olympia from the German KG house to which it had sold the vessel in 1999. The purchase option was exercised at $31.1 million while its fair market value is estimated to be approximately $60 million. The vessel is currently operating in the spot market and will remain so for the foreseeable future.
Excelerate Energy said t its newly upgraded floating storage and regasification unit (FSRU) Explorer recently completed its sendout performance tests and reached a sendout capacity of 1.0 Bcf/d – an unprecedented milestone for an FSRU. The FSRU is currently under long-term charter to Dubai Supply Authority (DUSUP) at the Jebel Ali LNG Import Terminal. "We approach each of our projects as partnerships and work closely with our customers, like DUSUP
With the AHTS Bourbon Liberty 320, BOURBON is now running a fleet of 100 Bourbon Liberty series-built, diesel-electric propelled and DP 2 vessels, a first in the oil services industry. This milestone coincides with the delivery of the first two of 20 deep offshore PSVs of the new BOURBON series: the Bourbon Explorer 500. "The Bourbon Liberty's operational success and the launch of the Bourbon Explorer 500 series strengthen our ability to provide a complete range of services worldwide
The commandant of the Coast Guard, Adm. Thomas Collins, is in Maine Wednesday, joining U.S. Sen. Olympia Snowe for a tour of the Coast Guard base in South Portland, according to WMTW.com, touring the recently established Coast Guard Sector Northern New England. Snowe chairs the Senate Commerce Subcommittee on Fisheries and the Coast Guard.
Explorer of The Seas, which is currently under construction at Kvaerner Masa-Yards for Royal Caribbean International, has successfully completed its sea trials. The second member of the Voyager-class series, the vessel's trials were conducted on the Baltic Sea, and according to Captain Olav Nyseter, the incoming master of the vessel, all tests performed met or superceded the specified parameters. The trials also included the vessel's demonstration of its excellent maneuvering
Royal Olympic Cruise Lines Inc. has requested that a number of improvements be made to the Company's newbuilding, Olympic Explorer, prior to taking final delivery of the cruise ship, which was originally scheduled for today. The Company is making adjustments to the Olympic Explorer's early voyages and is in contact with its clients and agents informing them of possible variations to schedules and alternative options.
Explorer, RiverQuest’s newly constructed boat leaving Freeport, Fla. for its homeport in Pittsburgh, is a state-of-the-art environmental classroom, a world benchmark “green” commercial vessel and a tourist attraction that is the first of its kind. The launch of Explorer, the world’s first green-engineered floating classroom, marks a new era in marine design for environmental sustainability. Departing from its construction site in Freeport, Fla
Warships, submarines and aircraft from all over the country are converging on Bass Strait for the final week of Exercise OCEAN RAIDER, one of the Royal Australian Navy’s largest maritime warfare activities. HMAS Adelaide lead six ships south from Sydney
Technip’s latest newbuild, the diving support vessel (DSV) Deep Explorer, was officially named on Saturday, November 12, in Norway. The traditional naming ceremony was held at VARD’s Langsten shipyard. The vessel godmother was Heidi Brovoll-Bø, wife of Knut Bø
U.K. shipbuilder Cammell Laird held one of the largest ceremonies in its history when Sir David Attenborough joined more than 1,000 people for the keel laying of the new £150 million polar research vessel. Construction was officially started by the world-renowned naturalist and
SeaBird Exploration, a provider of seismic data to the oil and gas industry, will acquire a long-offset survey offshore Belize. "We are pleased to announce that the company will acquire a long-offset survey in Belize, starting mid-October 2016
Viking Ocean Cruises made its first ever call on a U.S. port when Viking Star docked at Cruiseport Boston. Viking Star began her voyage in Montreal, travelled the St. Lawrence River to Quebec City and Saguenay, continued on to Prince Edward Island and Halifax and, following her stop in Boston
A brand new vessel is now plying the waterways of Gold Coast, Queensland following the launch of Wyndham Cruises’ multimillion-dollar, purpose-built dining vessel, Spirit of Elston. The new vessel replaces the company’s current vessel, the MV Entertainer
During the summer, the cruise ship fleet surged past half a million berths of total capacity. The cruise industry is continuing to expand its horizons, and has seen strong newbuilding investment this year, says Clarksons Research.
Explorers have found the wreck of HMS Terror, the second of two British ships lost in the disastrous 1845 Franklin expedition to Canada's Arctic Northwest Passage, Britain's Guardian newspaper said on Monday. The Arctic Research Foundation
Excelerate Energy L.P., in collaboration with Dubai Supply Authority (DUSUP), has completed the first commercial gas-up operation at DUSUP's Jebel Ali LNG Import Terminal via Excelerate's floating storage and regasification unit (FSRU) Explorer on August 31, 2016.
Cruise ship Coral Princess is slated to transit the Panama Canal on a voyage from Los Angeles, Calif., to the U.S. East Coast on October 4, 2016, officially kicking off the canal’s 2016-2017 cruise season, which according to the Panama Canal Authority will see more than 230 cruise ships pass
Kenya on Saturday inaugurated the first part of a new container terminal at Mombasa which is expected to boost by 50 percent the volume of cargo handled by East Africa's largest seaport. Construction of the 30 billion shilling ($296.74 million)terminal began in March 2012 and was completed in
CMA CGM’s mega containership Vasco De Gama ran aground off the Port of Southampton on the UK’s south coast just after midnight on August 22, 2016, reported Fleetmon. The damages of the 2015-built, 17,859 teu giant vessel are being assessed
Ocean Rig UDW Inc, the offshore drilling contractor, posted revenue of $452.6 million in the second-quarter, beating Wall Street forecasts. Three analysts surveyed by Zacks expected $385.7 million. The company has reported second-quarter profit of $155.6 million
AMELS and DAMEN have sold the first DAMEN SeaXplorer expedition yacht. The world premiere of this range of 65, 90 and 100-meter ‘true explorer’ designs took place last September at the Monaco Yacht Show. The SeaXplorer 65 is a crossover between professional technology and superyacht
While the Silk Road initiated trade between the East and the West starting in the 4th Century BC, the first traces of spice trading, which the Romans loved so much, seem to appear as early as the 1st Century. Over the centuries, and in response to wars and invasions