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
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
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., 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., 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 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
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
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
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
Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured an agreement with RCL Cruises Ltd., a member of the Royal Caribbean Cruises Ltd. group, to perform the extensive revitalisation of Royal Caribbean International’s 137,276-gross tonnage
OSI Maritime Systems Signs Contract with the Royal Canadian Navy to Provide In-Service-Support and an Upgrade to the Most Advanced ECPINS-W Sub 6.0 OSI Maritime Systems announced that it has signed a contract to provide in-service-support for its ECPINS-W Sub software - ECPINS is the only ECDIS
Commendation awarded by the Royal Australian Navy for dedicated work, commitment and support for Exercise Black Carillon 2013 James Fisher Defence (JFD) has been awarded a special commendation from the Submarine Force Commander of the Royal Australian Navy (RAN)
Royal Caribbean International says that its latest cruise ship, 'Quantum of the Seas', will make its home port in Shanghai (Baoshan), China The ship will reposition to China in May 2015, following her inaugural winter season sailing out of New York Harbor to the Caribbean.
Bibby Remote Intervention Limited (BRIL), part of Aberdeen-based subsea installation contractor, Bibby Offshore, has further expanded its fleet by signing a charter agreement for an IRM (Inspection Repair and Maintenance) light construction vessel and adding an additional two ROVs (Remote
The Ministry of Defence (MOD) has signed a £20 million contract to buy equipment for the Royal Navy's 3 new offshore patrol vessels (OPVs). The contract will enable BAE Systems to begin work on the engines & gearboxes, etc. that need to be ordered in advance.
Solar Solve Marine has received a number of recent orders for its class approved roller screens to be installed at the navigation bridge windows on cruise ships. One significant contract was for Royal Caribbean Cruises Navigator of the Seas – a Voyager Class Cruise Ship.
Over the next 8 years BAE Systems’ shipyard in Barrow-in-Furness will undergo a transformation, part- funded by the Ministry of Defence, to improve the infrastructure of a site where submarines have been built for over a century. Around 850 contractors will work on the development at its
Washington Secretary of Transportation Lynn Peterson issued a statement regarding the resignation of Assistant Secretary for Washington State Ferries David Moseley. Peterson's comments are as follows. After six years of service, Assistant Secretary for Washington State Ferries David Moseley has
BMT Fleet Technology Ltd., a subsidiary of BMT Group Ltd., an international maritime design, engineering and risk management consultancy, has announced the appointment of Darcy Byrtus as President. Darcy joins BMT from General Dynamics Canada where he held the post of Director of Business
State elected, transportation and manufacturing leaders were on hand today to celebrate the christening of the state’s first 144-car Olympic Class ferry, the M/V Tokitae, at Vigor Industrial’s shipyard in Seattle. Lynn Peterson, Washington’s Secretary of Transportation
The Maritime Helicopter Support Company (MHSCo), a Sikorsky and Lockheed Martin joint venture company, today broke ground to build the maintenance and warehouse facilities that will provide Through Life Support logistics services for the Royal Australian Navy's new fleet of 24 MH-60R SEAHAWK
The Royal Australian Navy informs that its warship HMAS Toowoomba has left Fleet Base West near Perth to join the international search for Malaysia Airlines Flight 370. The Anzac-class frigate has been diverted from other operational tasks to join the search and is carrying a S-70B2 Seahawk
Submarine HMS Tireless has been tasked to assist in the search for flight MH370 as UK support to the international effort continues informs the government's Ministry of Defence. The Trafalgar-Class submarine has arrived in the southern Indian Ocean to help with the search for the Malaysia
Innovative Damen, Delft University of Technology and De Vries Naval Architects gain royal approval Damen Shipyards Group announced it worked with Delft University of Technology to design and apply the latest in the field of shipbuilding for the new prototype (search and rescue) SAR 1906 lifeboat