Maritime Industry Top News
Tankers Pressured By Low Rates, High Costs
Oil tankers are reportedly being squeezed by low freight rates and high fuel costs, and some older ships may be heading for the scrapyard. An OPEC cut in oil production…
The Marine Advanced Technology Education (MATE) Center:
The Marine Advanced Technology Education (MATE) Center, headquartered at Monterey Peninsula College in Monterey, California, is a National Science Foundation (NSF)…
Oil Price Just Down From Two-Year Highs Set Last Week
Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today…
Alaska Sues Royal Caribbean
Alaska filed a civil suit on Aug. 13 against Royal Caribbean Cruises, accusing the company of dumping oil and other hazardous wastes into state waters after the…
Aker RGI Chair Launches Bid For Full Control Of Company
Norwegian billionaire Kjell Inge Roekke has reportedly launched a bid for full control of industrial holding firm Aker RGI, valuing it at about $1.09 billion. Roekke…
Kawasaki Heavy Industry, Chinese Co. To Set Up Shipyard
As Beijing looks to boost ship exports, Japan's Kawasaki Heavy Industry Ltd is likely to join state-run China Ocean Shipping Group to set up a $96.8 million shipyard in east China.
Britain Warns Shipowners To De-Bug Before 2000
Britain has warned shipowners on Monday that vessels calling at British ports could be detained if they have not ironed out millennium bug problems. All ships inspected before Jan.
Oil Prices Hit Highest Point In Nearly Two Years
Oil prices rallied to a 22-month peak of $21 a barrel on Friday, buoyed by Nigerian supply disruption, declines in U.S. oil stockpiles and OPEC output restraint.
Aker RGI Records 42% Drop
Norwegian industrial holding group Aker RGI recorded a 42 percent drop in first half operating profits, mainly pressured by weaker results for its offshore supply unit Aker Maritime.
LNG Signs $400 M Deal With Hyundai
A subsidiary of Nigeria liquefied natural gas (LNG) has signed a $400 million deal with South Korea's Hyundai Heavy Industries Co for the construction of two LNG…
Litton Marine Wins IBS Orders
Litton Marine Systems, subsidiary of Litton Industries has been granted orders to provide Integrated Bridge Systems (IBS) for Norwegian owners. The orders include two new 55…
Ulstein Brattvaag Awarded Supply Of Deck Machinery
Ulstein Brattvaag has landed contracts totaling $2 million by two of Japan's largest shipbuilders for the supply of deck machinery for a pair of LNG carriers. The…
Ulstein Nordvestconsult Garners Design Contract
Ulstein Nordvestconsult (UNVC), part of Vickers Ulstein Marine Systems, was awarded a contract comprised of the design of two 5,950-dwt RoPax ferries for a Greek shipowner.
Collision Continues To Block Ohio River
Marine traffic on the Ohio River was blocked Tuesday as cleanup efforts continued following the collision of a barge carrying gasoline and a docked barge filled with a plastic-making chemical.
Minoan Studies Adriatic Market Expansion
Minoan Flying Dolphins (MDF), a subsidiary of ferry operator Minoan Lines, is looking into deploying high-speed ships in the Adriatic market. MDF took out an option…
Bowsher Named Newport News Board Member
Newport News Shipbuilding Inc. named Charles Bowsher as a member of its board of directors. Bowsher served as the comptroller general of the United States from 1981 until October 1996.
Two RoLo's Ordered For $60M
Sweden's B&N Nordsjofrakt ,with Finland's Palkkiyhtyma, reportedly ordered two vessels costing $30 million each from Polish shipyard Stocznia Gdynia SA. The 14,800…
Plans For World's Largest Ship Steam Ahead
A group of U.S. investors has reportedly picked Honduras as the site to build the world's largest ship, which it plans to turn into a floating city. The so-called "Freedom Ship…
AMCV To Acquire MS Nieuw Amsterdam
American Classic Voyages (AMCV) has reached an agreement with Holland America line to buy MS Nieuw Amsterdam for $114.5 million, contingent upon various conditions…
Tampa Bay Shipbuilding & Repair Enters Agreement With Maritrans
Tampa Bay Shipbuilding & Repair Company has been chosen by Maritrans Operating Partners, a subsidiary of Maritrans, Inc. to retro-fit its second single-hull vessel…
