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Type 45 Destroyer Build Plans Modified
The Secretary of State for Defense announcement on the royal Navy's Type 45 destroyer was hailed as a boon for South Coast Shipbuilding, as the revised strategy…
Mechanical Problems, Late Deliveries Continue to Plague Industry
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.
Petrobras Declares Force Majeure On Oil Deliveries in Santos and Rio
Brazil's state oil giant Petrobras said Tuesday it declared force majeure on Monday on oil deliveries to barges in the ports of Santos and Rio de Janeiro. Petrobras…
More Combat Boats Success For Transas Scandinavia
Transas Scandinavia has received an order to supply an extensive range of advanced navigational equipment to 27 units of the Swedish Defense CombatBoat-90 project.
GD Extends NNS Tender Offer
General Dynamics (NYSE: GD) extended its pending tender offer for all outstanding shares of common stock (including associated rights) of Newport News Shipbuilding Inc.
Tanker Scrapping Increase Needed
According to a report from Norway's Bassoe Shipbrokers, large scale tanker scrapping in the immediate future is the only solution to cure an ailing freight market.
Blending Finnish and Italian Flair
It is testament to the Finnish spirit that diesel engineering force Wärtsilä NSD, having suffered bruising financial results in 1998, has staged an effective fightback…
Trico Earnings Nicked by Suffering Day Rates
Trico Marine Services, Inc. reported a net loss for the second quarter ended June 30, 1999, of $10.8 million after an extraordinary one-time charge of $1.8 million.
New Ship Expected To Generate More Than $30M For AMCV
The new ship to be purchased by American Classic Voyages from Carnival Corp. is expected to generate $35-40 million of cash flow for the company, and incremental earnings power could top $.50 a share…
Friede Goldman and Ocean Rig Reschedule Rig Deliveries
Ocean Rig ASA's Bingo 9000-1 and 9000-2 deepwater semisubmersibles are under construction at Friede Goldman Offshore in Pascagoula, Miss. and have been rescheduled…
Podded Propulsors Gain Wider Acceptance
The growing uptake of integral electric-driven, podded propulsors in the most capital-intensive sector of the cruise shipping industry, has forever altered the established…
West Coast Ferry Industry at All-Time High
In terms of new deliveries, the West Coast ferry industry will probably not see another period to match the past 18 months for some time. All three of the large…
The Ocean's At Our Doorstep
The fresh fruits and vegetables on your family table may be from the farms of Portugal, having made the six-day trip across the ocean in refrigerated containerships from Lisbon to the States.
Seaonal Surges Not Enough To Lift Rates From Depression
Sustained strong oil demand growth is required to lift product tanker freight rates out of their current depressed levels, shipbroker Simpson Spence & Young said in a new report.
Earnings Down for Most Oil Companies
Many oil companies reported a decrease in net income for the second quarter, compared to the previous year's results, although - in most cases - the second quarter still outperformed the first.
Oil At Sea Drops Sharply In Q3
Volumes of oil stored at sea shrank sharply during the third quarter with the consequent deliveries to refiners preventing a larger draw in onshore inventories, U.K. consultants Oil Movements said.
U.S.-Flag Lakes
U.S-Flag cargo movement on the Great Lakes in July fell by 1.5 million tons compared to the same period last year, the largest decrease in recent memory. The season…
The Eagle Has Flown: Royal Caribbean's Voyager Of The Seas Raises The Bar For The Cruise Industry
Slipping out through the Finnish archipelago on a Sunday morning at the end of October, Voyager of the Seas cut a figure of unprecedented scale in the passenger ship sector…
Oil Prices a Nine-Year High As Iraq Suspends Exports
Oil prices rocketed to a new nine-year high on Nov. 22 after Iraq suspended oil exports under its humanitarian exchange program with the United Nations. London January Brent futures opened at $25.90…
Asia Plays Intricate Role In Marine Fuels
The International Bunker Industry Association (IBIA) pointed out the role that Asia will play in the future of the marine fuels industry. As announced at IBIA's…