Vela Awards Hyundai VLCC Contract
Vela International Marine, the shipping arm of Saudi Aramco, reportedly has awarded Hyundai Heavy Industries a contract to build four very large crude carriers (VLCCs).
Canada Takes Commercial Ship, Military Equipment
Armed Canadian sailors seized control of the U.S.-owned ship GTS Katie last week after a high-seas standoff in which hundreds of millions of dollars of Canadian…
Time, Air Is Running Out: Russian Sub Rescue Continues
Russia's navy said on Wednesday it had launched a new attempt to rescue 116 sailors trapped in a powerless nuclear submarine grounded on the bed of the Barents Sea since the weekend.
European Bunker Prices To Rise
Due to a new directive from the European Council that dictates the maximum amount of sulfur allowed in industrial fuels, the price of bunker prices will surely rise in Europe…
Moore Stephens strengthens Russian network
Shipping accountant Moore Stephens has appointed Gavin Stoddart as a partner in London, with special responsibility for developing the firm's Russian and Ukrainian business.
Tidewater CFO To Retire
Tidewater has noted that its executive vice president and CFO, Ken C. Tamblyn will retire on August 31. Following a 20-year career as a partner with the accounting firm KPMG…
First Attempts To Rescue Russian Sailors Fail
Rescuers mounted a desperate undersea mission on Tuesday to evacuate 116 sailors trapped in a stricken nuclear submarine on the sea floor before the oxygen ran out.
Tidewater CFO To Retire
Tidewater has noted that its executive vice president and CFO, Ken C. Tamblyn, will retire on August 31. Following a 20-year career as a partner with the accounting firm KPMG…
ShipServ Launches E-Commerce Site
ShipServ (www.shipserv.com) now provides an end-to-end web-based procurement applications supporting both ship managers and suppliers in the maritime industry. After…
Oscar-2 Submarine: An Aircraft Buster
The Russian nuclear-powered Kursk submarine, crippled by a technical fault and stuck on the bed of the Barents Sea, is an aircraft carrier buster capable of launching…
Outlook Not Great For 100 Russian Sailors, Sub
In quickly evolving events, Russia's navy on Monday was desperately trying to rescue more than 100 sailors trapped in a crippled nuclear-powered submarine on the bottom of the sea.
TMM: Financial House In Order
Mexico's Transportacion Maritima Mexicana SA said it is in a solid financial position and would have no problem paying off $142 million in senior unsecured notes due Oct. 16.
Daewoo Reports Hefty Losses
Daewoo Heavy Industries Co. (DHI)announced a loss in the first- half of this year of 337.7 billion won ($302.9 million), compared with net income of 53.2 billion won in the same period last year.
Norway Holds Emergency Meeting Regarding Sub
Norway called a meeting of a crisis team for radioactive accidents on Monday, August 14, after technical faults forced a Russian nuclear submarine to run aground on the sea bed off northern Russia.
Russian Nuclear Sub Trapped On Bottom
More than 100 Russian sailors are reportedly trapped in their nuclear-powered submarine on the sea bed off northern Russia, after technical faults apparently forced…
Is the Honeymoon Over In Philadelphia?
Launched nearly two years ago with high expectations of an efficient U.S. Shipbuilding facility, it appears the revitalization of the Philadelphia Naval Shipyard…
Full Steam Ahead For Big Cruise Lines
Despite softening per passenger yields and unprecedented expansion, big lines have no plans on curtailing new deliveries. Big cruise lines, despite a buffeting from soft ticket prices…
Jurong Shipyard Wins Cableship Contract
SembCorp Marine said on Thursday its unit Jurong Shipyard Pte Ltd has signed a $38.8 million contract to build a cable-laying and repair vessel for ASEAN Cableship Pte Ltd.
HHI Profits Plummet 68%
Korea's Hyundai Heavy Industries expects to post a net profit of $39.8 million (44.4 billion won) in the first half, down 68.2 percent from the first half of 1999.
Viktor Lenac Gets $25M Contract
Croatian ship repairer Viktor Lenac won contracts worth $25 million to refit two foreign ships by the end of this year. One ship is owned by Baltimore-based Caldwell…