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
A multimillion pound refit has been carried out on Portsmouth-based Type 23 Frigate, HMS Westminster, to return her to the forefront of naval capability. Her extensive maintenance period, as part of the £600 million Maritime Services Delivery Framework (MSDF)
As Britain sets sail in uncharted waters on the lookout for post-Brexit trade deals, lawmakers and a former diplomat have earmarked two key weapons: the Duchess of Cambridge and a new royal yacht. Following the vote in June for Britain to leave the European Union
Royal Navy incompetence put an Irish trawler crew at risk after one of its submarines became snagged in a net and nearly capsized the ship. The nuclear-powered sub was sailing out of Faslane on the Clyde in April 2015 when it snagged the Karen's fishing gear between Ardglass and the
The struggling Norwegian supply vessel shipping firm Olympic Shipping said a consortium of investors is willing to invest about 500 million Norwegian crowns ($61.79 million) in a refinancing of the company, reports Reuters. Olympic Shipping is one of the shipping companies that are
The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales, (or Duke of Rothesay, as he is referred to in Scotland)
Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China. The event marked the first time a Royal Caribbean ship has been named in China, and actress Fan Bingbing became the company’s first ever
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In an official handover ceremony at the Den Helder Naval Base, the Royal Netherlands Navy took formal delivery of three Damen ASD 2810 Hybrid tugs. In addition to providing an increase in ship handling capacity, the new vessels are also installed with hybrid propulsion systems
Before the Olympic flame was lit in the Maracanã stadium on Saturday, August 6, worldwide shipping group CMA CGM had transported thousands of containers of goods and equipment to Rio, having begun its shipments for the 2016 Olympic Games in December 2015.
The Royal Navy sent six Sailors, from Navy Command Headquarters in Portsmouth, England, to integrate into Wasp’s flight deck operations to prepare them for their upcoming Queen Elizabeth-class aircraft carriers. Her Majesty’s Ship (HMS) Illustrious was the last carrier in British
The 60-meter Royal Bahamas Defense Force Corvette HMBS Nassau (P-61) has arrived at Damen Maaskant Shipyards Stellendam in the Netherlands for an extensive refit. The 17-year old vessel will receive a comprehensive overhaul that comprises full systems and instrumentation replacement.
The former aircraft carrier HMS Illustrious will be recycled after 32 years of service, announced the U.K. Ministry of Defense (MOD) who sold the ship to Turkish company LEYAL Ship Recycling Ltd for around £2 million. The MOD’s initial plan for the retired aircraft carrier was
Africa’s first ever dredging simulator was launched in the port city of Durban, South Africa – another positive spin-off of ongoing collaboration between Transnet National Ports Authority (TNPA), the Transnet Maritime School of Excellence (MSoE)
The Washington State Department of Transportation (WSDOT) christened Chimacum, the third Olympic Class vessel to join the Washington State Ferries (WSF) fleet. The ceremony took place at Vigor's Harbor Island Shipyard in Seattle, and marked the vessel’s final stage of construction and its
Diana Shipping Inc. has amended its existing loan agreement to a wholly-owned subsidiary of Diana Containerships to defer some payments under a new schedule. Diana Containerships Inc. is a former wholly-owned subsidiary of the Company