Maritime Industry Top News
Manitowoc Acquires Marinette
The Manitowoc Company, Inc. has finalized its previously announced agreement to purchase Marinette Marine Corporation. Marinette was acquired for approximately $48…
Hvide to Add Two New Boats
Hvide Marine Incorporated has made an agreement to purchase two modern 152-ft. crewboats from Crewboats, Inc. The purchase price for the two vessels, which will…
Tugz Florida Franchise Is Pending
Following months of intense scrutiny, financial due diligence, background checks and equipment review, Ronald C. Rasmus, president of TUGZ International, LLC, is…
Tugz Florida Franchise Is Pending
Following months of intense scrutiny, financial due diligence, background checks and equipment review, Ronald C. Rasmus, president of TUGZ International, LLC, is…
USN Awards Litton $338.2M Contract
Litton Ingalls Shipbuilding won a $338.2 million contract to build DDG 100, an additional DDG 51 Class Aegis guided missile destroyer for the United States Navy.
General Dynamics Gets $661M Contract
U.S. military shipbuilder General Dynamics Corp. said the Navy had awarded it an additional $661 million to complete the construction of the next two ships in the…
Crowley to Acquire Marine Transport
Crowley Maritime Corporation and Marine Transport Corporation jointly announced that Crowley has agreed to acquire all of the outstanding shares of Marine Transport Corporation for $7 per share.
Halter Gets Second PCTC Order
Pasha Hawaii Transport Lines LLC (PHTL), the joint venture of The Pasha Group and Van Ommeren Shipping (USA) LLC, have exercised their option with Halter Marine…
Bollinger Signs Deal With Incat to Build Fast Craft
In a move that signals the long-awaited fast craft boom in the United States is about to begin, Bollinger Shipyards, Inc., Lockport, La., and Incat Australia Pty. Ltd.
Northrop Grumman to Acquire Litton Industries for $80 Per Share Cash
Northrop Grumman Corp. and Litton Industries have jointly announced that they have signed a definitive agreement under which Northrop Grumman will acquire for cash…
LMS Selected To Supply For Navy Gunboats
Litton Marine Systems (LMS) won a contract to supply navigation radars for four new Hellenic Navy gunboats. The contract was awarded to Litton by Thomson-CSF Signaal…
Crowley To Acquire Marine Transport Corporation
Crowley Maritime Corporation and Marine Transport Corporation jointly announced that Crowley has agreed to acquire all of the outstanding shares of Marine Transport Corporation for $7.00 per share.
Keppel FELS' Subsidiary Gets FPSO Conversion Job
Halliburton Productos Ltd. Production Storage and Offloading facility (FPSO). This contract, once it is finalised, will be a major step for FELS Setal, as the last…
Wärtsilä Enjoys Good Success With Sulzer RTA84T's On Large Tankers
For the year 2000, Wärtsilä Corporation reports that 24 Sulzer RTA84T low-speed diesel engines with an aggregate power output of 713.4 MW (970,800 bhp) have been…
Passenger Ship Sinks Off Virginia, Crew Rescued
A Panamanian-flagged ship carrying a crew of 34, but no passengers, sank off the coast of Virginia on Sunday after its engine room flooded, a U.S. Coast Guard spokeswoman said.
American Superconductor Choses Alstom For Navy Project
American Superconductor announced the selection of Alstom Power Conversion Inc. of Philadelphia as its subcontractor in a program to design an ultracompact high…
Seascope Announces Results
British shipbroking group Seascope Shipping Plc expects year pre-tax profits of 1.8 million pounds, against two million last year, after contract delays impacted results.
Grounded Tanker Refloated
A grounded Norwegian oil tanker carrying 450,000 barrels of crude oil was re-floated near the Venezuelan coast and left for the U.S. Tuesday night, authorities said. The SKS Tagus, bound for the U.S.
Oil Price Dives
U.S. stocks of crude oil, gasoline and heating oil grew last week according to the Energy Department on Wednesday, which was more bearish than Tuesday's industry report, analysts said.
Tanker Rates Near Bottom
Tanker rates in the Caribbean have been free-falling all week, but the bottom is looming closer, brokers say. "They're about W307 today, but they're starting to firm up" said a U.S. broker.
