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Olympia Explorer

Royal Olympic Cruise Lines Reports Loss for 2001

Royal Olympic Cruise Lines Inc. has announced a loss for the fiscal year 2001, ended November 30, 2001. The events of September 11 had a substantial impact on the company's results and in the period September to November 2001, booking cancellations exceeded 3,000. EBIDA fell 25 percent from $ 21.7 mil in 2000 to $9.8 million in 2001. The inclusion of the first new vessel, Olympia Voyager, for a full year, resulted in additional interest and depreciation charges of $9.5 million, giving rise to operating losses of $18.4 million vs. profit of $3.2 million last year. The results were further deteriorated by non-operating losses on the valuation of financial instruments, in connection with the acquisition of the second new vessel, Olympia Explorer, of $7 million and a charge of $1.1 mil, resulting from the adoption of a new accounting policy on the treatment of financial instruments, bringing overall losses to $25.4 million vs. profits of $1.5 million last year. Revenues for the year however increased from 2000, reaching $128.8 million reflecting what had been an improvement through the summer in 2001, and a full year of operations for the company's first new building, the Olympia Voyager. Passengers increased by 19.8% to 146,739 and passenger days increased by 159,289, or by 20.6%. Operating expenses increased by $12.5 million to $93.6 million in 2001


Olympia Explorer Continues Voyage

Responding to a published report that their vessel Olympia Explorer was ordered by the court in Honolulu to remain in Hawaiian waters, Royal Olympic Cruise Lines Inc. announced that a temporary restraining order that had been issued by the U.S. Bankruptcy Court at 1 p.m. Wednesday, December 17, was rescinded two hours later. The vessel sailed from Honolulu the same day and is presently continuing the performance of its scheduled cruise among the Hawaiian islands and its voyage to San Diego and


TEN Buys-Back Aframax Tanker Olympia

Navigation Ltd. (TEN) announced that it has taken delivery, pursuant of the exercise of its option in October 2006, of the 1999-built double-hull Aframax tanker Olympia from the German KG house to which it had sold the vessel in 1999. The purchase option was exercised at $31.1 million while its fair market value is estimated to be approximately $60 million. The vessel is currently operating in the spot market and will remain so for the foreseeable future.


Ocean Rig: 3-Year Drilling Contract for Ocean Rig Olympia

Ocean Rig UDW Inc. (NASDAQ:ORIG)  received a Letter of Award for its ultra deepwater drillship “Ocean Rig Olympia”, from a major oil company. The Letter of Award is for a three- year contract for drilling offshore West Africa, with an estimated backlog of approximately $652 million. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence in direct continuation of the Ocean Rig


BOURBON Makes Several Fleet Additions

Photo: BOURBON

With the AHTS Bourbon Liberty 320, BOURBON is now running a fleet of 100 Bourbon Liberty series-built, diesel-electric propelled and DP 2 vessels, a first in the oil services industry. This milestone coincides with the delivery of the first two of 20 deep offshore PSVs of the new BOURBON series: the Bourbon Explorer 500. "The Bourbon Liberty's operational success and the launch of the Bourbon Explorer 500 series strengthen our ability to provide a complete range of services worldwide


Excelerate FSRU Hits Milestone

The newly upgraded FSRU Explorer arriving at Jebel Ali LNG terminal. (Photo: Excelerate Energy L.P.)

Excelerate Energy said t its newly upgraded floating storage and regasification unit (FSRU) Explorer recently completed its sendout performance tests and reached a sendout capacity of 1.0 Bcf/d – an unprecedented milestone for an FSRU. The FSRU is currently under long-term charter to Dubai Supply Authority (DUSUP) at the Jebel Ali LNG Import Terminal. "We approach each of our projects as partnerships and work closely with our customers, like DUSUP


Olympic Explorer Delivery Delayed

Royal Olympic Cruise Lines Inc. has requested that a number of improvements be made to the Company's newbuilding, Olympic Explorer, prior to taking final delivery of the cruise ship, which was originally scheduled for today. The Company is making adjustments to the Olympic Explorer's early voyages and is in contact with its clients and agents informing them of possible variations to schedules and alternative options.


Collins Joins Snowe For Tour

The commandant of the Coast Guard, Adm. Thomas Collins, is in Maine Wednesday, joining U.S. Sen. Olympia Snowe for a tour of the Coast Guard base in South Portland, according to WMTW.com, touring the recently established Coast Guard Sector Northern New England. Snowe chairs the Senate Commerce Subcommittee on Fisheries and the Coast Guard.


Explorer Of The Seas Passes Sea Trials

Explorer of The Seas, which is currently under construction at Kvaerner Masa-Yards for Royal Caribbean International, has successfully completed its sea trials. The second member of the Voyager-class series, the vessel's trials were conducted on the Baltic Sea, and according to Captain Olav Nyseter, the incoming master of the vessel, all tests performed met or superceded the specified parameters. The trials also included the vessel's demonstration of its excellent maneuvering


Obituary: Stewart B. Nelson

Stewart B. Nelson, Ph.D.  - B. June 9, 1937 D. September 12, 2016   Dr. Stewart B. Nelson URI -MMA 1974, oceanographer, explorer, author, lecturer and marine historian passed away of complications related to cancer on September 12, 2016 in Tampa, Fla. He is mourned by family, friends and classmates of the Marine Affairs Program at the University of Rhode Island. Dr. Nelson's multifaceted career was principally spent in service to his country in his position as aide to the Office of


Australian Navy: Torpedo Firings on the Mark

Photo: Royal Australian Navy

 The Royal Australian Navy has tested its primary anti-submarine warfare weapon during Exercise OCEAN EXPLORER off the coast of Western Australia recently.   HMAS Melbourne, with the support of Collins class submarine HMAS Dechaineux, conducted three exercise firings of its MU90 torpedo


Cristobal Colon Arrives in Sydney

ESPS Christobal Colon of the Spanish Amarda arrives in Sydney Harbour. The crew of ESPS Christobal Colon will be helping to train and familiarise crews of Australias Hobart Class Air Warfare Destroyers. Photo: Royal Australian Navy

 HMA Ships Darwin, Melbourne and Parramatta have escorted the Spanish Armada's Cristobal Colon into Sydney Harbour as part of her role in providing platform and familiarisation training to Australian personnel.   Over the next three months the ship will assist in enabling Australian


Navy on the Record Response to Andrew Greene Reporting

HMAS Choules sits at anchor off the coast of Darwin during Exercise Talisman Sabre 2015. Photo: Royal Australian Navy

 Recent reporting by the ABC that “Navy's largest ships unable to join Cyclone Debbie emergency response amid engine troubles” is misleading, said TW Barrett, AO, CSC, Vice Admiral, RAN, Chief of Navy.  To assert, as the ABC did in its reporting that issues with HMA Ships


Keppel on Track to Deliver Rig for Caspian Drilling

Photo credit: Keppel Offshore & Marine

Keppel Offshore & Marine Ltd (Keppel O&M) through its subsidiary in Azerbaijan, Caspian Shipyard Company (CSC), is on track to deliver a semisubmersible drilling rig to Caspian Drilling Company Ltd, a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR).


New Fast Rescue Boats for P&O Ferries

Photo: Survitec

Survitec Group announced  that P&O Ferries have installed two new Survitec BRUDE Explorer-720 fast rescue boats onto their vessels, the Pride of York and the Pride of Bruges operating on the North Sea route between Hull and Zeebrugge.


Vancouver Port Hires Marle as Permanent CEO

Julianna Marler Photo Port of Vancouver

The Port of Vancouver USA Board of Commissioners today voted 2-1 to hire interim CEO Julianna Marler as the port’s permanent CEO/Executive Director.   Marler, who was appointed interim CEO by the board in May 2016, was one of three finalists for the position


Cable Laying Software, MakaiLay commissioned

Four Cable Ships Commission MakaiLay Photo Makai Ocean Engineering

In the last few months, the submarine cable industry’s #1 cable installation software, MakaiLay, has been commissioned on four cable laying vessels around the world. KT Submarine (KTS, Korea) recently completed a challenging installation with one of their cable laying vessels, Segero


HMAS Anzac Transits to Fleet Base West

HMAS Anzac conducts a Replenishment at Sea with HMAS Success in the Southern Ocean. Photo: Royal Australian Navy

 Australian Navy's HMAS Anzac commenced her recent transit to Fleet Base West alone, meeting with sister frigate HMAS Parramatta in Jervis Bay.   For some such as Lieutenant James Keagan, Reserve Entry Officers’ Course member, it was their first real exposure to ship life. 


Aussie Navy Trains to fight

Anzac-class frigate, HMAS Anzac (150) sailing through Cockburn Sound, Western Australia, as part of Exercise Ocean Explorer 17. Photo RAN

More than 17 ships and aircraft are descending on the Western Australian coast for one of the largest maritime warfare exercises held by the Royal Australian Navy.   The inaugural Exercise Ocean Explorer will include international participants


Navies Training to Fight off the Western Australian Coast

Photo: Royal Australian Navy

 More than 17 ships and aircraft are descending on the Western Australian coast for one of the largest maritime warfare exercises held by the Royal Australian Navy.   The inaugural Exercise OCEAN EXPLORER will include some international participants


ISS wins global Hurtigruten contract

ISS has won a global port agency contract with Hurtigruten, a world leader in expedition travel Photo ISS.

Inchcape Shipping Services (ISS), the world’s leading maritime and logistics service provider, has won a global port agency contract with Hurtigruten, a world leader in expedition travel. The new business sees ISS providing Hurtigruten with port agency services across the globe for up to


Multi-Nation Naval Exercise in Australia

An embarked MRH-90 helicopter from HMAS Adelaide conducts a vertical replenishment, as HMAS Success transfers fuel to Adelaide during Exercise Ocean Explorer 17. Photo: Royal Australian Navy

 Warships from Australia, Italy, New Zealand and Spain are currently exercising off the Western Australian coast honing war-fighting skills and enhancing joint operating procedures.   The multi-national maritime task group, consisting of more than 17 ships and aircraft


Warfighting Women Winning at Sea

Seaman Boatswains Mate Paige Powers makes a new heaving line on the Gun Direction Platform of HMAS Parramatta, during Exercise Ocean Explorer 17, off the coast of Western Australia. Photo: Royal Australian Navy.

 Sailing on the Indian Ocean off the coast of Western Australia in a Royal Australian Navy frigate is just another day in the life of Seaman Boatswain's Mate Paige Powers.   After completing her initial recruit training at HMAS Cerberus in Westernport, Victoria


Adelaide’s Fighting Edge Tested

HMAS Adelaide leads a close formation of warships from the Royal Australian Navy, Royal New Zealand Navy and the Spanish Armada during a photographic exercise, part of Exercise OCEAN EXPLORER 17, off the western coast of Australia. Photo: Royal Australian Navy

 Royal Australian Navy’s amphibious ship HMAS Adelaide lead from the front during the recent Exercise OCEAN EXPLORER.   Exercising task group operations off the Western Australian coast, the landing helicopter dock was the centrepiece to war-fighting scenarios.  


Ezra Holdings Files for Bankruptcy in US

Pic: Ezra Holdings

 Oilfield services firm Ezra Holdings of Singapore filed for U.S. Chapter 11 bankruptcy at the weekend, blaming a prolonged slump in the energy industry, Reuters reported.  Ezra  has been facing hostile actions from creditors at home and abroad as it struggles to recover from a






 
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