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 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
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 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 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.
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
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
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
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
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
Royal Boskalis Westminster N.V. (Boskalis) has ordered a new self-propelled megacutter from IHC Merwede. This self-propelled cutter suction dredger, with a total installed power of 23,700 kW and a pump ashore capacity of 15,600 kW, is a replacement investment
At least 10 Haitian migrants are reported dead and approximately 100 are being rescued by Coast Guard and Royal Bahamian Defense Force rescue crews 15 nautical miles southwest of Staniel Cay, Bahamas, Tuesday. More than 100 Haitian migrants fell into the water Monday night when their overloaded
Royal Boskalis Westminster N.V. (Boskalis) has been contracted by Associated British Ports for the capital dredging of the approach channel to the port of Southampton in the United Kingdom. The contract has a value of approximately EUR 35 million and work is due to commence shortly.
An International Marine Task Force comprised of U.S., U.K., Dutch and Spanish Marine units disembarked from the Royal Netherlands Navy landing platform dock HNLMS Rotterdam (L800) after concluding a comprehensive set of security-enhancing activities as part of Africa Partnership Station (APS), Nov
Aberdeen-based subsea installation contractor Bibby Offshore has signed a charter agreement for construction support vessel (CSV), the Olympic ARES. The agreement with Olympic Shipping will initially be a seasonal charter beginning at the end of Q1 2014 with options to extend.
Today in U.S. Naval History - November 7 1861 - Naval forces under Rear Admiral Samuel F. DuPont capture Port Royal Sound, S.C. 1881 - Naval Advisory Board submits report recommending the new ships in U.S. Navy be constructed of steel instead of iron.
The 3 new ships will be built by BAE Systems at their shipyards on the Clyde in a deal that will sustain jobs in the UK’s warship-building industry, and will play a key role in counter-terrorism, counter-piracy and anti-smuggling operations, according to a UK MOD announcement.
Exercise Bersama Lima 2013, a Five-Power Defence Arrangements (FPDA) activity involving Australia, the United Kingdom, Singapore, Malaysia and New Zealand, kicks off 7, November 2013. Commander Australian Contingent, Wing Commander Louis Nuttycombe
Multiple sources reported that Royal Caribbean’s Allure of the Seas, the world’s largest cruise vessel, has encountered difficulties with its propulsion system, impeding full speed capabilities. The ship is reported to be functional, but sailing at reduced speeds.
After 9 months operating as part of the Royal Australian Navy Fleet, Spanish Armada Ship, 'ESPS Cantabria' was farewelled from her temporary homeport of Garden Island, Sydney. The ship will be visiting ports in Indonesia, India and Turkey before arriving home for Christmas.
iXBlue has been selected to provide inertial navigation systems for the two Queen Elizabeth class aircraft carriers currently being built by the Aircraft Carrier Alliance for the U.K. Royal Navy. The bridge system for each of the carriers will incorporate two iXBlue MARINS units
The Combined Maritime Forces operation was co-ordinated from the British Royal Fleet Auxiliary vessel 'Fort Victoria' with support from Australian ship HMAS Melbourne, South Korean destroyer ROKS Wang Geon, European Union flagship HNLMS Johan de Witt and a Seychelles-based maritime patrol aircraft
In preparation for the 2014 World Cup, followed by the Olympic Games in 2016, Rio de Janeiro State in Brazil has decided to greatly expand the transport capacity of the Rio de Janeiro – Niterió shipping route. An order has been placed with Afai Southern Shipyard China for the building
If there was ever a good reason to heed naval forces’ warnings about the continuing threat from Somali piracy, then an attack on a super tanker is surely one of them. A fully laden super tanker was attacked by eight armed pirates recently, 230 miles off the Somali coast
The Ministry of Defence is looking for ideas on how best to preserve the legacy of the Royal Navy's Invincible-Class aircraft carriers.The last of the ships, 'HMS Illustrious', is due to retire in late 2014 after 32 years of distinguished service that has seen her involved in operations around the