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a temporary restraining order that had been issued by the U.S. Bankruptcy Court at 1 p.m. Wednesday, December 17, was rescinded two hours later.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
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.
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
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 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
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
TGS announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS, utilizing two vessels during the 2016 acquisition season. The M/V Sanco Spirit and M/V Atlantic Explorer
Norwegian exploration travel company Hurtigruten, has signed a letter of intent for the construction of up to four new explorer ships with Norwegian shipyard Kleven. The order for delivery in 2018 and 2019 is a move to meet growing demand for adventure travel from travellers in the U.S
Norwegian oil major Statoil presented a new subsea concept that is designed to reduce cost and increase efficiency. The concept is called Cap-X. The concept was presented by Margareth Øvrum, executive vice president for technology, projects and drilling in Statoil.
Milaha has taken delivery of a new lift boat which will be deployed offshore, particularly in support of field maintenance efforts. Named the Milaha Explorer, the new lift boat was built by Bohai Shipbuilding Heavy Industries Co. Ltd
Norwegian Cruise Line Holdings (NCLH) has ordered a second ultra-luxury cruise ship for its Regent Seven Seas Cruises brand from shipbuilder Fincantieri, in an agreement worth €422 million. The new 54,000-gross-metric-ton and 223-meter-longt vessel, to be delivered in 2020
RRS Shackleton, RRS Endeavour, RRS Falcon, RRS Fish ‘N’ Chips and RRS Kanye are just a few of the suggestions submitted in an open campaign to name the U.K.’s next state-of-the-art polar research vessel. But leading the vote is a name that’s even more out of the
1804 - The brig USS Syren (Siren), commanded by Lt. Charles Stewart, captures the Tripolitan brig Transfer off the coast of Tripoli, renaming it Scourge after being taken into US Navy service. 1903 - The Honduras Expedition, made up with USS Marietta, USS Olympia, USS Panther, USS Raleigh
CMA CGM’s six 18,000 TEU vessels named after great explorers will be deployed on the trans-Pacific market and help to accelerate its growth, the container shipping company announced today. Beginning from the end of May 2016, the CMA CGM Group will deploy its flagship fleet of six 18
Top luxury cruise line Regent Seven Seas Cruises says it's investing $125 million to renovate three of its ships. Beginning with Seven Seas Navigator (built in 1999) this spring, the public spaces and suites of the Regent fleet will be updated to match the style of the new
Rushton Gregory Communications, a marketing communications agency specializing in the marine, outdoor, automotive and consumer electronics markets, announced today the latest addition to its industry-leading client roster, NavX Studios.
PGS has recently completed the fifth consecutive acquisition season offshore Newfoundland and Labrador as part of the ongoing joint venture (JV) with TGS. The successful 2015 season was the biggest yet with PGS operating four vessels, two 3D and two 2D vessels
A keel laying ceremony was held Monday at Korea’s Samsung Heavy Industries Co., Ltd. for the first of six ships in the project 42К Arctic Shuttle Tanker series. The six tankers in the series will be named after the famous Russian explorers of the Arctic
Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours. Sergey Shirokiy, the chief of the tourist department of the Russian Arctic national park summed up the results of the tourist
Silver Cloud is to move Silversea Cruises’ luxury expedition fleet in November 2017. Destined mostly for polar waters, the elite 296-guest ship that launched the ultra-luxury cruise line will be converted into an ice-class ship during an extensive refurbishment scheduled
A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices. Christened the Hughes Glomar Explorer, after billionaire Howard Hughes was brought in on the CIA's deception