Maritime Industry Top News
Owners...Start Counting the Cash
The much anticipated turnaround in the Gulf of Mexico Oil Patch is happening, and the companies that supply boats and services in the area are feeling the impact.
Local Yards Start to Feel the Impact
The U.S. Gulf of Mexico region is again poised to prosper, spurred by the buzz of activity surrounding the oil patch, and specifically the renewed vigor with which…
Mechanical Problems, Late Deliveries Continue to Plague Industry
A stagnant economy, threat of overcapacity and canceled cruises due to repairs and late deliveries have conspired to slow the hyper-growth cruise industry has enjoyed for the past decade.
Kockum Sonics AB launches Ballast Water Exchange Concept
In response to the threat of invasive marine species, Sweden-based Kockum Sonics AB has developed a new concept for safe and efficient ballast water exchange on high seas.
Bollinger Christens 8,000-hp Towboat, Bootsie B
Bollinger Shipyards, Inc., Lockport, La., with the Riverway Co., Eden Prairie, Minn., christened the M/V Bootsie B., a 188-ft. (57.3 m), 8,000 hp towboat. Bootsie B.
Largest Spanish RoPax Enters Service
The largest Spanish flagged RoPax ferry, named Fortuny, has been delivered by IZAR's Puerto Real shipyard to the Spanish shipowner Trasmediterranea. The contract…
Hybrid Powering for Boxships
A convincing economic argument fuels the liner shipping sector's adoption of unprecedented capacity ratings, with a new level soon to be reached in impending projects for newbuilds in the 9…
Editor's Note
Considering the over abundance of conferences and exhibitions that grace the marine industry’s business calendar, I am pleased to report on the activities of the…
Statoil Commences Drilling Off Faroe Islands
Norwegian state-controlled energy company Statoil is to start drilling for oil off the North Atlantic Faroe Islands this week in the first test well on the Faroe shelf.
Woldwide Offshore Rig Utilization Plummets
Offshore rig utilization fell in the world's most active markets during the week ending July 6, according to ODS-Petrodata Group. U.S. Gulf of Mexico rig utilization…
Lehman Bros.: General Maritime Is A Strong Buy
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25. "We expect charter hire rates to…
Izar Ferrol Repairs Eight Vessels At Once
The shiprepair yard of IZAR Ferrol last week surpassed previous occupancy records, as it simultaneously worked on eight vessels. The yard facilities were fully busy…
Chittagong Port Strike Leaves 65 Ships in Limbo
A strike at Bangladesh's main Chittagong port has left some 65 ships carrying 1.3 million tons of cargo stranded, officials said on Friday. The 36-hour strike, (involving 20…
U.S. Customs Bust Panamanian Cargo Ship for Marijuana
U.S. Customs agents seized 6,310 lbs. (2,860 kg) of marijuana from a Panamian-flagged cargo ship carrying medical supplies and machinery into the Port of Miami, agency officials said on Thursday.
Northrop Grumman Extends Again NNS Tender Offer
U.S. defense contractor Northrop Grumman Corp. on Thursday said it extended again its tender offer for the shares of Newport News Shipbuilding, as the antitrust…
Intertanko: Tanker Accidents Down From 1990
The tanker industry recorded 42 shipping accidents in the first half to 2001, over half of which involved collision, fire or explosion and a quarter resulted in pollution…
Thyssen Krupp To Sell Shipping Unit
German steel group Thyssen Krupp said on Friday it had agreed to sell its shipping unit Krupp Seeschiffahrt to Los Angeles-based General Ore International. "This…
U.S. Oil Rises High
U.S. oil prices rose on Thursday, prompted by a hefty inventory draw last week, as traders shrugged off Iraq's announcement that it would soon restart exports. Crude…
MHI Orders Thordon For Cruises Newbuilds
Mitsubishi Heavy Industries (MHI) has ordered water lubricated Thordon COMPAC propeller shaft bearing systems for two new cruise ships being built for Princess Cruises…
Internet Ship Broker Goes Live
Internet ship-brokerage Levelseas went live this week, saying it would add functionality to allow cargo-owners and shipowners to trade with each other directly before October.
