Maritime Industry Top News
First Wave Marine Files Reorganization Plan
First Wave Marine, Inc. announced that it has filed with the U.S. Bankruptcy Court for the Southern District of Texas, a Plan of Reorganization in the Company's Chapter 11 proceeding.
Schat-Harding secures Vela contract
Schat-Harding has won an order to replace the winches on the lifeboat stations of 17 VLCCs owned by Vela International Marine Ltd, a subsidiary of Saudi Aramco.
RINA surveyors on board detained cruise ship
RINA has confirmed that, contrary to some reports, it is not responsible for fully certifying the cruise ship Ocean Glory 1, but is only responsible for classification of the vessel.
Lawrence Graham Urges Swift Action On Problem Deals
Lawrence Graham says shipping companies caught up in disputes involving insolvency and receivership need not come away from the table empty-handed, provided the dispute is handled correctly.
IZAR Lands FPSO Order
IZAR has been awarded a contract to build a 900,000bb FPSO (Floating, Production, Storage and Offloading) unit for Belgium's company Exmar Offshore. The unit is…
Exmar Announces LNG Deals
Exmar, CMB's gas tanker division, together with Mitsui O.S.K. Lines, confirms the long-term charter party with El Paso Corporation of two further liquefied natural gas (LNG) tankers…
ABB lands $42M contract with Santa Fe Intl.
ABB, the leading innovator in podded propulsion systems, has struck a landmark deal to supply its new compact podded propulsion system on a semi-submersible drilling rig. Santa Fe International Corp.
U.S. Navy Commissions USS Iwo Jima
The USS IWO JIMA (LHD 7), the U.S. Navy's and Marine Corps' newest large-deck amphibious assault ship, left the Pensacola Naval Air Station for her homeport in Norfolk…
USACE Reform Proposed
Reformers in the House of Representatives introduced legislation on Wednesday to curb misconduct and wasteful spending at the U.S. Army Corps of Engineers (USACE)…
Tankers Prepare To Load Iraqi Crude
Crude oil traders were getting into position to lift Iraqi crude as Baghdad's one-month stand-off with the United Nations plays out, with nine supertankers waiting…
Frontline Purchases Its Own Shares
Frontline has through market purchases executed July 2, 2001 bought back 125,000 of the company's common shares, at a price of NOK 164.09. Total number of outstanding shares after this is 76,787,566.
CMB Downgraded By ING Barings
ING Barings downgraded Belgian shipping company CMB to "hold" from "buy" because of the poor short-term outlook for the sector. ING said it had also cut its price…
Austal Signs U.S. Military Deal
Austal Ltds has signed its first United States military charter deal which it hopes could prove a catalyst for major defense contracts. Austal shares climbed 20…
Exmar, Golar Cease Merger Discussions
The world's two largest LNG tanker operators, Exmar and Golar LNG, have suspended merger talks, both companies said on Monday. "We are in non-talks. For the time being we are not talking…
Rapid Panamax Expansion Affects Freight Rates
A fast expansion of the fleet in the panamax sector has outpaced trade and affected freight rates, shipbrokers on Monday. "Panamax freight rates are not weaker due to falling demand…
Northrop Grumman Wins $81.3M Navy Contract
The U.S. Navy has awarded an additional $81.3 million to Ingalls Shipbuilding, a Northrop Grumman company, for the continuation of work towards the construction…
IMO: Streamlined Shipping Inspections Are Under Study
Shipping's myriad safety inspections are facing a radical overhaul after high level meetings between the International Maritime Organization (IMO) and oil industry officials.
Divers Find Way Before Visit To Sunken Ship
U.S. Navy divers who hope to recover bodies from a Japanese fishing vessel accidentally sunk by a nuclear submarine toured a similar vessel to learn more about the…
Ferry Engine Room Fire Extinguished
Fire broke out on Sunday evening in the engine room of a passenger ferry with 237 people on board in the Baltic Sea about 25 nautical miles southeast of Sweden, coastguards said.
Bulk Carrier Detained In Australia
The French-registered bulk carrier Mirande is expected to remain under detention until Monday as Australian maritime authorities conduct seaworthiness checks on…
