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Royal Olympic

Royal Olympic Cruises Cancels Remainder Of Olympic Explorer's Summer Program

Royal Olympic Cruise Lines Inc.announced that it has regretfully been forced to cancel the cruises of its new vessel, Olympic Explorer, for the remainder of the summer season. Although it had been reported that the Company had hoped to commence cruises with the vessel on September 15, it has not been possible to finalize all the discussions with the Blohm+Voss shipyard to allow the necessary technical modifications to be completed by this date. Commenting on the cancellation, Yiannos Pantazis, Royal Olympic's CFO, stated: "It is a real disappointment to us that the ship will not be able to undertake any cruises during the summer season, but we hope to have the vessel ready to commence operations for the next season. The Company said that all passengers booked on Olympic Explorer from September 15 would be offered alternative cruises on other ships of the Company. - (Reuters)


Royal Olympic Considering Proposals

Royal Olympic Cruises Lines stated that a special committee of its outside directors has been considering proposals and alliances involving the company and/or its majority shareholder, ROC Holdings. Consisting of Bobby Melnick, Michael Jolliffe and Nicholas Pisaris, the committee is considering proposals such as a sale of a controlling interest in ROC Holdings that would not involve an offer to purchase the company's publicly held shares


Mechanical Problems, Late Deliveries Continue to Plague Industry

A stagnant economy, threat of overcapacity and canceled cruises due to repairs and late deliveries have conspired to slow the hyper-growth cruise industry has enjoyed for the past decade. Even last year's new Millennium, which burst onto the cruise scene with its new gas turbine propulsion, had its share of troubles. Despite unparalleled reassurance by Celebrity that Millennium's propulsion problem was remedied, Infinity, its sistership, which was delivered this past Spring


Olympia Explorer Christened in Piraeus

Royal Olympic Cruise Lines Inc. announced that its new cruise ship, Olympia Explorer, was christened at the Port of Piraeus on Friday, June 7, 2002. Vangelis Papathanassiou, the internationally renowned composer and 1982 Oscar winner for his film score for "Chariots of Fire," was the vessel's godfather, assisted by Katerina Potamianos and Marisa Loizou, the daughters of Andreas Potamianos and Costakis Loizou, Royal Olympic's two main shareholders


Royal Olympic Cruises Files For Chapter 11 for Two Ship Owning Companies

Royal Olympic Cruise Lines, Inc., announced today that two out of its eight shipowning companies, Olympic World Cruises, Inc., the owner of the vessel Olympia Voyager, and Royal World Cruises, Inc. the owner of the vessel Olympia Explorer, have filed for reorganization under Chapter 11 of the United States bankruptcy code. The company has been in discussion with the lenders to these subsidiaries regarding a potential restructuring of $250


Royal Olympic Announces Third Quarter Results

Royal Olympic Cruise Lines Inc., reported that third quarter net revenues increased by 11.3 percent to $57.1 million compared to the same period last year. For the nine months ended August 31, 2001, revenues increased by 17.6 percent to $102.6 million compared to $87.3 million during the same period in 2000. The growth in revenues in the third quarter is attributable to an improved summer cruise season and the introduction of Seawing, which contributed $8 million.


Aker Yards to build PSV for Olympic

Aker Yards signed a contract worth approximately $22.8 million with Olympic Shipping to build a Platform Supply Vessel of the MT 6009 design. Delivery is scheduled for December 2006. "We are pleased to have received another newbuilding order from Olympic Shipping," said Roy Reite, in charge of Aker Yards' Offshore & Specialized Vessels business area. "This contract confirms our long and good relationship with Olympic Shipping


Chinese Navy Completes Anti-Terror Drill

The Chinese Navy held its first anti-terror drill in the port city of Qingdao to test its capabilities in dealing with possible terrorist attacks using chemical weapons during the sailing events of the 2008 Beijing Olympic Games. Most events will be held here apart from the sailing competitions in Qingdao, Shandong Province and the equestrian events in Hong Kong. A chemical detachment of the People's Liberation Army Navy (PLA Navy) conducted the two-hour drill


London Olympics – UK Warship Takes Station

Photo creditHMS Ocean: Photo credit Wiki CCL Graham Richardson

The Royal Navy's Assault Landing Ship, HMS Ocean, sails up the River Thames in preparation for forthcoming Olymics HMS Ocean will berth at Greenwich in east London where she will act as a launch pad for eight Lynx helicopters and a base for Royal Marine snipers in the the final phase of the exercise 'Olympic Guardian', which began earlier this week in Weymouth and in the airspace over the capital. During the Games the ship will also accommodate 300 military personnel who are providing


WA 144-car Ferries Named ’Olympic’

6813787824_0df49ac156_c.jpg

SEATTLE – The new class of 144-car Washington state ferries currently under construction will be named after a beloved Washington landmark, the Olympics.    The winning name, Olympic, was selected by Transportation Secretary Paula Hammond after a contest among Washington State Department of Transportation employees resulted in more than 130 submissions. “I loved the mountain range theme,” said Hammond


HII Annual ‘5K on the Causeway’ Raises $12,000

5K on the Causeway 2014: Photo HII

Huntington Ingalls Industries' informs that its Ingalls Shipbuilding division raised $12,000 for Special Olympics of Mississippi at the company's third annual "5K on the Causeway" on Saturday. "It was a great turnout with more than 700 participants this year


New Assistant Secretary WSDOT Sets Her Priorities

Vigor Shipyard tour: Photo WSF

In the latest Washington State Ferries 'Weekly Update' newly appointed Assistant Secretary WSDOT/Ferries Division, Lynne Griffith, sums up as she completes her first week's duties: "As I close out my first week as Assistant Secretary


Gazprom Constructs Sports Complex in Stavropol

Vladimir Vladimirov, Acting Governor of Stavropol Territory

  Stavropol hosted today a groundbreaking ceremony of a versatile sports & recreation complex of Gazprom. The sports & recreation complex will include a 50 meter Olympic swimming pool, a versatile gym, a hall of martial arts as well as training grounds


General Dynamics Bags $ 50 mi Submarine Contracts

Submarine Modernization Program for U.S. and Australian Navies

  General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting the AN/BYG-1 combat control system aboard U.S. Navy and Royal Australian Navy submarines


FTA Approves WSF Ferry Terminal Plans

Olympic-class ferry: Photo credit Vigor

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves plans to replace Mukilteo ferry terminal The 60-year-old Mukilteo ferry terminal is one step closer to replacement


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


STS Young Endeavour Prepares for World Voyage

Young Endeavour (Credit: Young Endeavour)

The Royal Australian Navy operated Sail Training Ship, Young Endeavour, is undergoing maintenance work in preparation for a 12-month world circumnavigation. It is the vessel’s first deployment of this nature in more than 20 years. Darren Chester MP


HII Run to Boost Special Olympics of Mississippi Fund

Last years 5K race: Photo courtesy of HII

Huntington Ingalls Industries' Ingalls Shipbuilding division informs it will host the company's third annual "5K on the Causeway" on Saturday, Sept. 20. The race will take place on the causeway to Singing River Island, and all proceeds will go to benefit Special Olympics of Mississippi


Exercise KAKADU War Games at Sea Kick Off

Photo: Nicolas Gonzalez

More than 1,200 mariners from the Asia Pacific and Indian Ocean regions have completed the first sea phase of the Royal Australian Navy’s largest maritime warfare exercise, KAKADU 2014. Occurring off the coast of Darwin from August 25 to September 12, 2014


Royal Caribbean, ABB Ink 15-year Service Contract

Photo courtesy of RCC

ABB has signed an extensive service agreement with Royal Caribbean Cruises Ltd (RCC) to increase cost efficiency and predictability of maintenance costs. The agreement spans 15 years and encompasses six vessels under RCC’s brands Celebrity Cruises and Royal Caribbean International


Navantia Banks on the Future

Navantia has counted on navy business to sustain itself in recent years, building ships such as this LHD.

It is no secret that the Spanish shipbuilding sector has hit on hard times, particularly in the big ship sector where much of the commercial business has evolved to lower cost manufacturers in the Far East. But considering that Navantia has a 300-year history


Centenary of RAN Submarine Loss Commemorated

Rabaul, PNG RAN ceremony

The Royal Australian Navy (RAN) informs it has commemorated the 100th anniversary of the disappearance of its first submarine, 'HMAS AE1', with memorial services in Papua New Guinea and across Australia. In a ceremony held in Rabaul, Papua New Guinea, close to where the ship was last seen


Scotland's 'No' to Independence Welcomed by Shell

Union flag: File photo

Royal Dutch Shell CEO Ben van Beurden on Friday welcomed Scotland's vote against independence. "Shell welcomes the decision by the people of Scotland to remain within the UK, which reduces the operating uncertainty for businesses based in Scotland," van Beurden said in a statement.


Canada’s New Patrol Vessel Christened

CCGS Caporal Kaeble V.C. (Source: Canadian Coast Guard)

Entry into service of Canadian Coast Guard's new mid-shore patrol vessel, the CCGS Caporal Kaeble V.C., was inaugurated by The Honorable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of


Today in U.S. Naval History: September 24

USS Enterprise (CVAN-65) is launched September 24, 1960 at Newport News Shipbuilding. (Photo courtesy of Huntington Ingalls Industries)

Today in U.S. Naval History - September 24 1918 - Ensign David S. Ingalls, USNR, in a Sopwith Camel, shoots down his fifth enemy aircraft, becoming the first U.S. Navy ace while flying with the British Royal Air Force. 1944 - 5th Fleet carrier aircraft attack Japanese in Visayas






 
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