Editor's Note

Thursday, May 03, 2001
Marine business in these United States continues to get increasingly: A] Encouraging; B] Depressing; or C] Interesting, depending on who you talk to and at what time of day.

The entire market, from inland to oceangoing, naval to commercial, is abuzz with activity.

On the naval front, corporate intrigue has taken center stage as General Dynamics bids once again to acquire Newport News Shipbuilding. The major difference between the takeover attempt today versus the unsuccessful bid two years ago is the fact that Bill Fricks and the Newport New team is welcoming the offer, and all that remains is a thumbs up from shareholders and anti-trust concerns. Both parties, however, seem reasonably secure that the transaction will be completed in the third quarter, effectively creating a single source of nuclear submarine and aircraft construction in the U.S. General Dynamics, following the big defense consolidation surge, will dominate the U.S. shipbuilding market, owning four of the “Big Six” shipyards.

On the commercial side, attention is adequately split between Washington D.C. and the Gulf of Mexico. In the nation’s capital, industry proponents are pushing for the re-installation of $100 million in funding for the popular Title XI program, which had its funding cut by the new administration to next to nothing. In the Gulf, suppliers, builders and operators eagerly await the much-anticipated Offshore surge, which by all many accounts should start rolling strong by the end of 2001; beginning of 2002 latest.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4918 sec (2 req/sec)