Egypt Turmoil May Threaten Suez Canal
Growing turmoil in Egypt is threatening to disrupt shipments through the Suez Canal and increase the costs for shipping lines as Cairo’s cash-strapped government seeks ways of bringing in revenue, reports Arab News citing a Reuters report. The Suez Canal Authority has said it may offer discounts or rebates to increase traffic through the canal, but a security source considered it unlikely they will be able to act on it given the growing political and bureaucratic chaos internally.
French Cruise Line Flagship Delivered by Finacantieri, Ancona Yard
"Le Soléal", the third of 3 super-luxury cruise ships built by Fincantieri for the French cruise line Compagnie du Ponant has been delivered. "Le Soléal", whose size and characteristics make it very much like a mega-yacht, is a unique niche product and will be the cruise line's new flagship. Targeting a select clientele, it is designed to offer passengers a unique experience, with its small size letting it reach destinations inaccessible to larger vessels.
US Ports Dredging FY2014: Record Grant Recommended
Following on the heels of House Committee's recommendation, U.S. Senate Subcommittee recommends record US$1-billion for FY2014 maintenance dredging. The U.S. Senate…
HII Awarded Nuclear Carrier Inactivation Contract
Huntington Ingalls Industries (HII) has received a $745 million cost-plus-incentive fee contract for the inactivation of the aircraft carrier 'USS Enterprise' (CVN 65). The work will be done at HII's Newport News Shipbuilding (NNS) division. The ship was towed from Naval Station Norfolk to NNS on June 20 under the existing planning contract. NNS will defuel the eight nuclear reactors and prepare Enterprise…
Italy Yard Launch Fremm Warship
Fincantieri's Riva Trigoso (Genoa) shipyard celebrates the launch of the frigate “Carlo Margottini”, the third of a series of Fremm vessels - Multi Mission European Frigates, ordered from Fincantieri by the Italian Navy within the framework of an Italo-French program of cooperation. Godmother to the ship was Ms. Stefania Portaccio, granddaughter of Captain Carlo Margottini. The frigate was named in honour of Captain Carlo Margottini…
FSL Request Share Trading Halt
First Ship Lease Trust (FSL) request halt to trading on exchange from 0830, July 1, 2013, pending a Board of Director's announcement. According to the company's…
Offshore Brazil PLSV's: Huge Petrobas Contract for SNM
Seadrill & SapuraKencana Petroleum Berhad joint entity Sapura Navegação Marítima S.A., Brazil (SNM) awarded US$2.7-billion Petrobas contract to charter & operated 3 newbuild Pipe Laying Support Vessels (PLSV's). The contract is for a period of eight years with an extension option for an additional eight years and is expected to commence by the second quarter of 2016. Total revenue potential for the contract is expected to be US$2.7 billion.
Navy Contracts for Electric Boat, RFD Beaufort
Amongst the latest announcement of US Department of Defense, Navy contracts were those to Electric Boat Corp., Groton, Conn. & RFD Beaufort, Inc., Sharon Center, Ohio.