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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’

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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


US, UK Navies Plan Future Cooperation

Leaders of the U.S. and British navies agreed on a shared vision for closer cooperation Dec. 11, the culmination of a yearlong effort that will build on a long-standing maritime partnership over the next 15 years.   Chief of Naval Operations Adm


BAE Systems to Upgrade UK Navy Torpedoes

Photo: BAE Systems

BAE Systems has been awarded a £270 million contract from the U.K.’s Ministry of Defense (MOD) to upgrade the Spearfish Heavyweight Torpedo for the Royal Navy’s submarines. Following the completion of the design phase, existing torpedoes will be upgraded by BAE Systems at its


Rolls-Royce Unveils Gas Turbine Service and Test Facility

Photo: Rolls-Royce

Vice Admiral Simon Lister, Chief of Materiel (Fleet), Defense Equipment and Support, opened a new gas turbine testing center last week at the Rolls-Royce facility at Filton, Bristol, U.K.   The Rolls-Royce Test Facility now includes a new WR-21 Test Cell


Royal Caribbean to Install Scrubbers on 19 Ships

Photo: Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. (RCL) will retrofit 19 of its ships with advanced emissions purification (AEP) systems. These systems, also known as scrubbers, will remove more than 97% of the sulfur dioxide emissions generated by the ships' diesel engines.     


Gazprom Sponsors Russian Olympic Team

Alexander Zhukov and Alexey Miller signing MOU

  Alexey Miller, Chairman of the Gazprom Management Committee and Alexander Zhukov, President of the Russian Olympic Committee (ROC) signed a Memorandum of Cooperation in the Gazprom headquarters today. Gazprom will support the national Olympic team as a general sponsor


Quantum of the Seas Delivered to Royal Caribbean

Quantum of the Seas (Photo: Royal Caribbean International)

Royal Caribbean International took delivery today of the newest addition to the cruise line’s fleet, Quantum of the Seas, from Meyer Werft Yard, at an official signing ceremony in Bremerhaven, Germany attended by Royal Caribbean Cruises Ltd.’s Chairman and CEO Richard D


Australia’s Newbuild LHD Enroute Homeport

Australia’s first Landing Helicopter Dock (LHD) ship, NUSHIP Canberra has been farewelled from Melbourne as she departs for Sydney. NUSHIP Canberra departed BAE Systems Williamstown shipyard en route to her Sydney homeport. Defense Materiel Organization (DMO) Chief Executive Officer


Moroccan Frigate Docked for Maintenance

Tarik Ben Ziyad in drydock, ready for repairs (Photo: Damen)

Dutch-built, multi-mission naval vessel at Damen Shiprepair Brest for first scheduled docking The Royal Moroccan Navy’s frigate Tarik BenZiyad has returned to the Damen Shipyards Group for its first routine drydocking after three years of operation


MHI to Transfer Ownership Stake to MEG

  Mitsubishi Heavy Industries, Ltd. (MHI) yesterday concluded an agreement with Miyaji Engineering Group, Inc. (MEG) whereby, effective April 1, 2015, MHI will transfer a 51% ownership stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd


Quantum of the Seas Sails into New York Harbor

Photo: Royal Caribbean

Royal Caribbean's newest cruise ship, Quantum of the Seas, arrived in the New York Harbor in the early morning hours on November 10. The 167,800-gt cruise ship, built by MEYER WERFT, departed from Bremerhaven to Southampton October 28, 2014


Port Canaveral Welcomes Explorer of the Seas

Explorer of the Seas

Starting November 15, 2014, Royal Caribbean’s Explorer of the Seas begins homeporting at Port Canaveral through March 2015, offering a new nine-night itinerary that reaches further into the southern Caribbean with stops in Aruba, Bonaire, Curacao, and Haiti


JK Fabrication Wins Emergency Tow Reel Order

Photo courtesy of JK Fabrication

JK Fabrication (Nordic Machine) wins emergency tow reel order from Olympic Tug and Barge Olympic Tug and Barge, a Harley Marine Services Company, has selected four JK Fabrication emergency tow storage reels for new barges being built at Zidell Shipyard in Portland (the first two) and Vigor


BHP Billiton Focus on Operation & Productivity

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 * BHP Billiton is now targeting US$4 billion of annualised productivity gains in its core portfolio by the end of the 2017 financial year, a US$500 million increase on previous guidance.  * Improved capital productivity will allow planned investment to be reduced from US$14


RCCL: Bayley, Lutoff-Perlo take CEO Posts

Michael Bayley

Royal Caribbean Cruises Ltd (NYSE, OSLO: RCL) named two senior company executives to lead the company’s two largest brands. Michael Bayley, who worked his way up from an assistant purser’s position aboard the Nordic Prince, will serve as President and CEO of Royal Caribbean


CSV Delivered to Bibby Subsea

Olympic Ares

Bibby Offshore’s Houston-based division, Bibby Subsea, welcomed the Olympic Ares, a multifunctional subsea construction support vessel (CSV) which is due to arrive in the port of Galveston on December 16, 2014.    The 115-meter Olympic Ares features a 250-metric-ton heave






 
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