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 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
Offshore construction vessel Olympic Bibby, build no. 371 from Kleven Verft, has been delivered to Norwegian shipowner Olympic Shipping. The vessel has a long term charter with Bibby Offshore, and its first job will be on the British sector of the North Sea. The naming ceremony was held in Olympic’s home harbor Fosnavåg April 9. The vessel is 87.5 m long and 19 m wide, making the entrance to the narrow harbor (22 m wide) a spectacular sight, the builder noted
Offshore construction vessel Olympic Bibby, build no. 371 from Kleven Verft, has been delivered to Norwegian shipowner Olympic Shipping. The vessel has a long term charter with Bibby Offshore, and its first job will be on the British sector of the North Sea. The naming ceremony was held in Olympic’s home harbor Fosnavåg April 9. The vessel measures 87.5 x 19m, making the entrance to the narrow harbor (22m wide) a spectacular sight
Multiple media outlets including CBS News report that Royal Caribbean's new cruise ship Anthem of the Seas was hit by a strong strom, reportedly resulting in no serious injuries but causing some damage to public areas and guest staterooms. The ship is reported enroute to port in Florida.
Italian shipbuilder Fincantieri has launched its first cruise ship destined for the Chinese market, and will now begin interior fittings ahead of the vessel’s delivery scheduled for spring 2017. The newbuild Majestic Princess is the third ship of the Royal Princess class built for
A Royal Caribbean cruise ship forced to turn back early after being battered by an Atlantic storm was expected to return to its New Jersey port at 9 p.m. on Wednesday (0200 GMT Thursday), bringing with it 4,500 rattled guests and 1,600 crew, cruise line officials said.
Royal Australian Navy frigate HMAS Melbourne is returning home to Australia after completing more than 50 boarding operations and seizing almost a tonne of heroin during a Middle Eastern deployment. The guided missile frigate handed over maritime security responsibilities to sister ship
The Royal Moroccan Navy has taken delivery of a Damen Stan Pontoon 3011 Water Barge. They will immediately mobilise the vessel to supply fresh drinking water to areas of Morocco suffering from a long-lasting drought. Due to the contract’s urgent humanitarian aspect, Damen
The Royal Moroccan Navy has taken delivery of a Damen Stan Tug 2208. The 22-meter long vessel, named Al Mounkid, is the first tug to join Morocco’s sizeable naval fleet. The Royal Moroccan Navy has a fleet consisting of frigates, offshore patrol vessels
Royal Caribbean Cruises teams up with Eniram, cutting fuel costs by millions of dollars and reducing emissions of CO2 by tens of thousands of tons by improving energy efficiency through innovation. Cruise shipping is one of the fastest growing sectors in tourism
The Royal Australian Navy operated Sail Training Ship (STS) Young Endeavour sailed into Fremantle today, completing a year-long circumnavigation of the world. Assistant Minister for Defence Darren Chester was in Western Australia to welcome the seafarers back to Australian soil
Washington State Ferries (WSF) will start 2016 with construction of a new Olympic Class ferry, after signing a Notice to Proceed last week with shipbuilder Vigor Industrial for work on its fourth 144-vehicle ferry. Construction begins in January, with delivery scheduled for mid-2018.
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), today held the Interim Delivery and Acceptance ceremony for the third Patrol Vessel (PV), RNOV Sadh, together with the Naming Ceremony for the fourth PV, RNOV Khassab
New fiber reinforced polymer lock gates, reportedly the world’s largest, were installed in the new Lock III in the Wilhelmina canal in Tilburg, the Netherlands on January 9. On behalf of Rijkswaterstaat (Dutch Directorate-General for Public Works and Water Management)
Radio Holland, part of the newly formed company RH Marine Group, has recently received its commercial trade license for Abu Dhabi after signing a contract with sponsor Royal Ruby Group (RRG). The commercial trade license allows the opening of a Radio Holland Middle East office in Abu Dhabi
Improved funding and management changes have the nation’s largest ferry system on a course to better times. Challenges remain, but WSF tackles each one in turn. Unlike the citizens of British Columbia, which pays a German shipyard to build its ferries
BAE Systems announced it has signed a contract with Bangkok Dock to assist in the licensed construction of a second 90-meter Offshore Patrol Vessel for the Royal Thai Navy. Under the agreement, BAE Systems will provide engineering support and advice during construction of the vessel in Thailand.
Royal Caribbean Cruises Ltd reported 2015 results and provided guidance for 2016. Continuing on its Double-Double trajectory, the company’s adjusted earnings for 2015 were $4.83 per share – up 42% over 2014, and are expected to further increase to $5.90 – $6.10 in 2016.