The Floating Volvo
Vision, a unique VLCC built by Korea's Hyundai Heavy Industries Co., Ltd. (HHI) in that it features twin-engines and twin-propellers, was recently christened at the Ulsan Shipyard.
After a rash of containership design and propulsion system initiatives aimed at extending the reach of the most potent engines already in production, the industry…
New Dimension for Hapag-Lloyd
Although long in the vanguard of containership technology, Germany's Hapag-Lloyd did not feel compelled to join the early rush towards vessels of wider-than-Panamax gauge.
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.
Piracy Attacks Surge
Piracy attacks on oil tankers surged to unprecedented levels during the first quarter of 2001, reinforcing fears that the onslaught will sooner or later result in ecological catastrophe.
McDermott Reports 1Q Loss
Marine construction and engineering company McDermott International Inc. reported a first-quarter loss in line with earnings guidance issued by the company in February.
Moody's Downgrades Enterprises Shipholding
Moody's Investors Service downgraded to C from Caa1 the rating for senior notes of Enterprises Shipholding Corporation. The downgrade reflects the company's announcement…
Frontline Shares Take A Tumble
Shares in Norwegian tanker group Frontline fell 5.3 percent on weak tanker rates, delays to scrapping of old tankers and a negative media and broker report, traders said.
Wärtsilä Posts 1Q Loss, But Outlook For Year Good
Wärtsilä posted a first-quarter loss, hit by restructuring charges, but said it expected full-year results at its key power divisions to reach last year's level.
Kvaerner Masa-Yards Elects New Executives
Kvaerner Masa-Yards has announced the following management changes: Jouko Virta, CFO; Martin Landtman, senior vice president, Marketing and Sales; Thomas Foss, chief legal counsel…
Hyundai Heavy Industries Awards Contract To Wynn
Wynn Marine, manufacturer of heavy duty marine window wiper systems for ocean going vessels, has been granted a contract worth more than $100,000 from Hyundai Heavy Industries in Korea.
French Port Authorities Ponder Mysterious Vessel
Authorities at the French port of Rouen said on Wednesday they have detained a mysterious vessel for almost a month because of doubts over its name and nationality.
Safety Investigatiors Cite Cause of 1998 Carnival Ecstasy Fire
Unauthorized welding on laundry room equipment triggered a fire aboard the cruise ship Ecstasy off Miami in 1998, injuring 22 people and causing more than $17 million in damages, U.S.
Petrobras CEO Defends Company's Honor
The top executive of Brazilian state oil giant Petrobras on Tuesday defended his company's acceptance of an industry achievement award despite suffering the loss…
Litton Ingalls Lands $196.5 Million Naval Contract
Defense contractor Northrop Grumman Corp. on Tuesday said the U.S. Navy awarded an additional contract worth $196.5 million to its shipbuilding unit for work on an amphibious assault ship. The U.S.
Supertanker Freight Rates Back on Track
Freight rates for supertankers to Asia, which last week suffered their most serious decline in over two years, have now stabilised and look set to recover, tanker brokers said on Wednesday.
BV Proposes 12,500-TEU Mega Containership
Classification society Bureau Veritas (BV) expects demand for container slots to double over the next 10 years, making current post-panamax containerships too small. Collaborating with Knud E.
Greek Union Rallies Disrupt Shipping Routes
Public transport in Greece will grind to a halt on Tuesday for the second time in less than a week following calls from Greek union leaders for a strong May Day…