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
Thailand plans to buy three Chinese-made submarines for the Royal Thai Navy at a cost of 355 million dollars each. Three Chinese-made submarines worth 355 million dollars each may be purchased by Thailand for its Royal Navy, the newspaper Bangkok Post reported today (Friday)
Search efforts for a missing Olympic sailor, Trevor Moore, in Biscayne Bay, Florida, were suspended Saturday evening at sunset. The Coast Guard and partner agencies covered more than 510 square nautical miles and completed more than 29 search patterns before suspending the three day
ASRY and Babcock have signed a long term support facility agreement to provide ongoing services to the U.K. Royal Navy in Bahrain ASRY (Arab Shipbuilding & Repair Yard), a shipyard in the Arabian Gulf, has signed a long-term collaborative enabling agreement with U.K
London International Shipping Week (LISW) is delighted to confirm that HRH Princess Royal has agreed to be Patron for LISW in 2015. Jeremy Penn, Chairman of the LISW Steering Group, said: “We’re all absolutely thrilled that HRH Princess Royal has agreed to be Patron
Construction of the U.K. Royal Navy’s second new Offshore Patrol Vessel (OPV) has begun, marked by a ceremony led by Defense Secretary, Michael Fallon, at BAE Systems in Glasgow. The Secretary of State formally started construction of HMS Medway
Oman Drydock Company (ODC) informs it has appointed one of Oman’s most experienced maritime professionals as deputy CEO to help support and grow its expanding operations. Taking up the role of deputy CEO, Dr. Ahmed Al Abri, draws on 17 years experience working as a naval architect
Former sailors of the Royal Canadian Navy who had served in HMCS Algonquin gathered at Davie Shipbuilding today to commemorate the paying off of this storied Canadian warship. HMCS Algonquin is one of the Royal Canadian Navy’s four Tribal-Class Destroyers built at Davie in the early
The Washington State Ferries (WSF) summer 2015 sailing schedule will take effect Sunday, June 14, with a new Olympic Class vessel, additional sailings, vehicle reservations to the San Juan Islands and increased service hours on many routes, the state’s transportation department announced.
Maritime security operations by Australian and New Zealand frigates operating in the Middle East region during the past six weeks have seized almost a tonne of narcotics worth an estimated street value of $711 million. Royal Australian Navy Guided Missile Frigate
MT Orkim Harmony, the fuel-laden Malaysian tanker that “disappeared” off the east coast of Johor last Thursday has been detected in Cambodian waters, according to Chief of Navy Admiral Abdul Aziz Jaafar says a report in Bernama.
The hulking shell of Royal Caribbean’s “Harmony of the Seas” — the world’s largest cruise ship — entered the water in France on Friday. It’s expected to take its maiden voyage in 2016.
Engineering and consulting firms setec and Royal HaskoningDHV have been selected by VNF – the French navigable waterways authority – to jointly provide programme management assistance over 12 years for a canal link extending from France to Belgium.
Engineering and consulting firms setec and Royal HaskoningDHV have been selected by VNF – the French navigable waterways authority – to jointly provide program management assistance over 12 years for a canal link extending from France to Belgium.
A new Fast Small Ship Simulator for training crews working on high speed boats is in development. Together with Cruden and Tree C Technology, the Royal Dutch Naval Defense School and the Royal Dutch Navy’s Surface Assault Training Group
BAE Systems has been awarded a £5.5 million contract to install a new Vessel Traffic Management System to assist in the controlling and monitoring of all ship movements within Portsmouth Harbor and the Eastern Solent. The contract is the latest development in the partnering