Danaos Corporation reports fourth quarter and full year results for the year ended December 31, 2012.Financial highlights: Operating revenues of $151.8 million for the three months ended December 31, 2012 compared to $128.3 million for the three months ended December 31…
YachtCloser, the yacht brokerage industry’s web-based contract management system, names Jim Coburn to its strategic advisory board.In this capacity, Coburn will work with the YachtCloser team on the development of new and innovative products…
Greece's DryShips Inc. is to offer the public 5-million of the common shares it holds in Ocean Rig UDW.Following the completion of the offering, DryShips is expected to own approximately 61.3% of Ocean Rig’s outstanding shares (Ocean Rig is a provider of offshore deepwater drilling services)…
Nordic American Tankers Limited (NAT) publishes its Q4 2012 financial report.Extracts from the report follow:In 2012, NAT improved its relative position within the industry despite a weak market. By retaining a strong balance sheet throughout 2012…
Construction begins on a $50-million project to improve the Port of Guam. The port improvement project will add ten acres to the container and break bulk yards, and reconfigure the port and the entrance gate for more rapid, efficient and secure freight movements…
The Marguerite Fund has acquired a 22.5% stake in the German greenfield Butendiek offshore wind farm.The Butendiek project is a 288 MW greenfield offshore wind farm located in the North-Sea in the German exclusive economic zone, 32 km west of the German Island of Sylt…
The aircraft carrier USS Abraham Lincoln's refueling complex overhaul (RCOH) will not start due to insufficient funding.Lincoln was expected to move to Newport News shipyard next week to begin the overhaul. However, as a result of the fiscal…
Björn Rosengren President & CEO of Wärtsilä delivers his year 2012 financial results message to shareholders.Extracts from the message follow:'During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This acquisition supports our growth strategy in the marine gas…
As of this week, Damen Shipyards Group is the new owner of Dutch ship repair yard Shipdock. Shipdock, a well-known shipyard group with roots dating back to 1877, operates facilities in Amsterdam and Harlingen. The yard will continue its ship repair and conversion services…
Matson, Inc. a leading U.S. carrier in the Pacific, did well in Q4 2012 and the whole year; believes it can do better.Consolidated revenue for the fourth quarter 2012 was $398.3 million compared with $374.9 million reported for the fourth quarter 2011…
US Congressional Ports caucus leaders request the Transportation & Infrastructure Committee to hold a hearing on the Fund.Congresswoman Janice Hahn (CA-44) and Congressman Ted Poe (TX-2) have addressed the following letter to the House Committee on Transportation and Infrastructure Chairman…
National Ocean Industries Association (NOIA) President Randall Luthi makes the following statement about Gulf of Mexico Lease 227 Sale.'We are seeing a very positive trend for the offshore industry in the Gulf of Mexico, and we look forward to Central Gulf sale 227…
ASL Marine Holdings financial report for 3 months ended 31, December 2012 shows earnings up by 39.8% Y-on-Y.ASL Marine Holdings Ltd., an integrated marine company offering comprehensive services in shipbuilding, shiprepair and conversion and ship-chartering…
Mercator Lines (Singapore) agrees to sell its 279,022 dwt VLOC 'Sri Prem Putli'.The vessel was built in 1993 and converted from Very Large Crude Carrier (VLCC) to Very Large Ore Carrier (VLOC) in 2009.The Vessel is expected to be delivered to its buyers in March 2013…
The North of England P&I Association (North P&I Club), a leading marine insurance association, has donated £3,000 to fund life changing sailing expeditions for young people in Northern England.Staff at the Newcastle based insurers chose to donate the funds to Ocean Youth Trust North…
