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Successful Year

AIDA Celebrates Record Year

AIDA Cruises achieved an exceptional increase in its annual results for the business year 2005. With a turnover of € 375 million and a total of 233,000 passengers, AIDA Cruises has had its most successful year since the company was founded. Around 10% more guests spent their holiday on board an AIDA Club Ship than in the previous year 2004. Sales also rose from € 370 million to € 375 million. The increase in turnover is lower than that for passenger numbers on account of a considerable reduction in flight volumes. AIDA Cruises has initiated a number of major investment projects during the last financial year with, for example, three new AIDA vessels being built at the Meyer Shipyard in Papenburg at a cost of € 945 million. The steelwork has already commenced in October of this year and the first ship will be laid down in March 2006. The new AIDA vessels will be delivered in the spring of 2007, 2008 and 2009, ensuring an 80% expansion in the capacity of the AIDA fleet by the year 2009. With its four AIDA Club Ships and total capacity of 5,400 beds, AIDA Cruises is the undisputed market leader for sea cruises in Germany. The rapidly growing company, which is part of the Carnival Group and based in the Baltic city of Rostock, currently has 2,400 employees from 25 different countries. The workforce will increase to around 4,000 by 2009


SCA Announces New Chair/Vice Chair

The Shipbuilders Council of America (SCA) announced that Herschel Vinyard, vice president at Atlantic Marine Holding Company, has been elected its new chair. Mr. Vinyard takes the leadership role of the Council after two successful years that saw increased membership and an expansion of services provided by the SCA under the chairmanship of Steve Welch, CEO and President of Todd Pacific Shipyards. Chris Bollinger, executive vice president of Bollinger Shipyards


NOL Group Announces New Appointments

Move is part of APL and APL Logistics growth strategy in region , 2 April 2008: Global container shipping, terminals and logistics group Neptune Orient Lines (NOL) has announced a series of key appointments in the fast-growing region. The new Vice-President for the region is Gene Seroka. He is responsible for the overall management of NOL’s APL, APL Terminals and APL Logistics businesses throughout the Middle East from the Group’s regional HQ in .


Conrad Industries 2008 Results

Conrad Industries, Inc. (Pink Sheets: CNRD) announced its fourth quarter and twelve months 2008 results. For the quarter ended December 31, 2008, Conrad had net income of $7.1m and earnings per diluted share of $1.09 compared to net income of $6.3m and earnings per diluted share of $0.86 during the fourth quarter of 2007. The Company had net income of $23m and earnings per diluted share of $3.29 for the twelve months ended December 31, 2008 compared to net income of $19


DT&F: Expanding New Yacht Construction Business in U.S.

DT&F_Sorcha_152_crop1 web.jpg

Following its assessment of activity at this year’s Monaco Yacht Show, Dwight Tracy & Friends Yacht Sales announced expansion of its program for representing new construction shipyards, both in the U.S. and Europe.  According to DT&F founder and CEO Dwight Tracy, “The current strength of the euro against the U.S. dollar, and the current situation in our domestic new yacht market, makes this a time of opportunity for European yacht buyers in search of first-quality


Strategy Engineering Wins O&G Company Award

Photo: Strategy Engineering & Consulting

Strategy Engineering & Consulting, LLC announce that it was named the winner of the Oil and Gas Awards Engineering Company of the Year for the Gulf Coast Region in 2012, announced Strategy President Chris Morris. “The Engineering Company of the Year award recognizes engineering excellence and achievements within the oil and gas industry in the Gulf Coast region," Morris said. "This award acknowledges engineering companies that demonstrate completed projects that display


Detroit Diesel, Volvo Penta Collaboration Concludes

Detroit Diesel Corporation (DDC) and Volvo Penta of the Americas (VPA) have announced a mutual agreement to conclude their successful four-year collaboration which provided Detroit Diesel distribution rights for Compact and 6-16 liter inboard diesel engines and parts in North America. Effective February 1, 1999, Compact diesel inboard engines from 10-102 hp as well as 6-16 liter diesel inboard engines from 318-770 horsepower were transitioned back to VPA for engine, parts, sales, distribution


Wärtsilä's R&D Chief Paro Retires

Senior Vice President Daniel Paro (60), who has played a decisive role in the development of Wärtsilä's current engine portfolio, retires on March 1, 2006. Paro was head of the Research Center in Vaasa and also Wärtsilä's entire engine development activities in the 1980s and 1990s, the period during which current successful products like the Wärtsilä 32 and Wärtsilä 46 were developed. Additionally, he has had a decisive impact on the introduction of gas and common-rail technologies in


McMoRan Completes Test in Gulf

McMoRan Exploration Co. has completed a successful production test at its Flatrock discovery located in the South Marsh Island section of the Gulf of Mexico. According to the company, the production test found a gross flow rate of about 71 million cubic feet of natural gas per day. Production is expected to begin at the well by the end of the year.


Fugro Extends Contract with McDermott

Fugro logo

  Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning, remotely operated vehicle (ROV) and diving services in the United Arab Emirates, Qatar, India and Saudi Arabia. Engineering and construction company McDermott currently operates two major work barges in the region as well as a large number of other support vessels.


Australia-Japan bilateral exercise Ends

Royal Australian Navy and Japanese Maritime Self Defence Force counterparts gathered in Sydney to conduct the bilateral Exercise NICHI GOU TRIDENT from 15-26 April 2016.

Ships and aircraft from the Royal Australian Navy and Japanese Maritime Self Defence Force (JMSDF) have completed the bilateral Exercise NICHI GOU TRIDENT off the coast of New South Wales. The exercise, which has been conducted regularly between Australia and Japan since 2009


AET Buys Paramount Tankers

Photo: AET

 American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary.   AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers


Subsea 7 Profits Dip in Q1

Photo: Subsea 7

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period. Adjusted EBITDA meanwhile was $284 million with an Adjusted EBITDA margin of 38 percent


WILCO Logistics Bags Townsville Port Safety Works

WILCO Logistics Pty Ltd to undertake Breakwater safety works Photo Port of Townsville.

WILCO Logistics Pty Ltd has been announced as the successful bid contractor on Breakwater safety works at the Port of Townsville.   Minister for Ports Mark Bailey said the overall $1.5 million project will improve navigational safety at the Townsville Port by widening the entrance to the


OSG Reports $284m Profit In 2015

Photo: Overseas Shipholding Group, Inc.

 Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015.   The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue


Long Beach Port Improves Air For 11 Years

The Green Flag Program has been highly successful in reducing air pollution from ships, the leading port-related source of emissions.

Port offers discounts for ships that slow, reduce emissions March 1, 2016 Shipping lines calling at the Port of Long Beach cut thousands of tons of air pollution last year by voluntarily participating in the Port's Green Flag Program, which offers financial rewards for ships that reduce their


DEME Invests in Flemish Dredging Tech

Cutter Suction Dredger ‘D’Artagnan’ (Photo: DEME)

Following a successful laser cladding pilot project in 2015, Belgian dredging, environmental and marine engineering group DEME has signed a three-year cooperation agreement with VITO spin-off Laser Cladding Venture (LCV) to strengthen the cutter incisors used to dredge hard soils.


CMA CGM Volume Strong, Profit Dips

Photo: CMA CGM

 French carrier CMA CGM’s revenue and profit slipped last year despite a 6.3 percent volume increase, but the company said it’s counting on cost cuts and the pending acquisition of Singapore’s NOL to overcome a “tough” start to 2016.  


John P. Murtha Passes Builder’s Sea Trials

Ingalls Shipbuilding’s 10th amphibious transport dock John P. Murtha (LPD 26) sails the Gulf of Mexico for Builder’s Trial. (Photo by Lance Davis/HII)

Huntington Ingalls Industries (HII) announced the successful sea trials of the company’s 10th San Antonio-class amphibious transport dock, John P. Murtha (LPD 26). The ship, built at HII’s Ingalls Shipbuilding division, spent four days in the Gulf of Mexico last week with


USS America Returns after Maintenance

USS America (U.S. Navy file photo)

Amphibious assault ship USS America (LHA 6) has returned to sea March 21 following a 10-month post-shakedown availability maintenance period during which the crew and contractors made improvements to the ship's design.  USS America is now conducting sea trials off the coast of Southern


Cyprus Pushes Through Limassol Port Privatisation

Image: Limassol Port

 The Cyprus government managed to push through parliament legislation finalizing the privatization of commercial operations at the island's primary Limassol port despite lacking a majority in parliament, reports Famagusta Gazette.  


Swedish Club: Consistent Underwriting in Challenging Year

The Swedish Club reported to its board today that it has achieved a consistent 2015 underwriting performance with financial stability and cost-efficient quality services for its members. It delivered a balanced underwriting result, despite higher claims activity and increased volatility


LNG Names New MD

Developing a LNG export terminal. Image: Liquefied Natural Gas Limited

 Australia's Liquefied Natural Gas Limited (LNGL) has appointed Chevron executive Greg Vesey to replace company founder Maurice Brand as managing director and chief executive.   Brand will continue on with LNG as an executive director until his retirement in June next year


Strong Cruise Season Marks Canada Place’s 30th Anniversary

Star Princess at Canada Place (Photo: Port Metro Vancouver)

Port Metro Vancouver’s 2016 cruise season officially kicks off today with the arrival of the Star Princess at Canada Place. Vancouver expects to welcome approximately 830,000 passengers on 228 calls, reflecting a forecasted 3 percent increase in passenger volume over 2015.  


Indian Navy Dredger Completes Successful First Year

(Photo: Tebma Shipyards Ltd.)

In mid-April of 2016, the Indian Navy’s grab hopper dredger, Dredger-1 was preparing to depart its birth shipyard following a comprehensive one-year warrantee review. Tebma Shipyards Ltd., Senior Vice President M. Balasubramaniam explained that the 44.15 by 12






 
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