If it wasn’t bad enough that demand in the shipping markets has not recovered, commodity price rises have put more than a little pressure on ship operating costs. Fleet owners and managers are certainly feeling the squeeze in 2011. Drewry…
STATEMENT OF BOLLINGER SHIPYARDS LOCKPORT, L.L.C.Since its founding, Bollinger Shipyards has operated on the principle that “quality is remembered long after the price is forgotten.” Three generations of the Bollinger family have…
Port of Green Bay sees increase in petroleum exports.Washington, D.C. (August 18, 2011) – The St. Lawrence Seaway statistics for the month of July indicate steady traffic with cautious optimism as the economy continues to rebound.Year…
Douglas-Westwood forecasts strong recovery in vessel demand. The World Subsea Vessel Operations Market 2011-2015 details expenditure set to grow 52%, totaling $72bn between 2011 and 2015. Lead author, Simon Robb, commented, “Project timetables are accelerating as confidence returns to the industry…
Reference is made to the stock exchange announcement of 18 May 2011, in which Odfjell announced its intentions to enter into a strategic partnership with Lindsay Goldberg LLC to grow its tank terminal business in Europe and North America.Odfjell…
Revenue for the period increased by 9% to $29.9bn $27.4bn), primarily due to higher oil prices and container volumes. Profit for the period was 8% higher at $2.7bn $2.5bn), positively affected by divestment gain from sale of Netto Foodstores Limited…
Netherlands law firm AKD says that, while beleaguered shipowners may be looking increasingly to Chapter 11 filings in the United States to protect their financial interests, the fact is that Chapter 11 does not enjoy the force of law throughout the world…
U.S. Transportation Secretary Ray LaHood today announced $9.98 million in grants to 13 small shipyards throughout the United States to help modernize facilities, increase productivity, and help make the country’s small shipyards more competitive in the global marketplace…
According to a report on www.rttnews.com, Dongfang Shipbuilding Company Limited intends to seek admission of its shares to trading on the AIM market of the London Stock Exchange. Dealings are expected to commence on AIM on 18 August 2011. Dongfang diversified into shipping…
Transocean Services AS, a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG) (SIX: RIGN), announced an all cash voluntary offer for 100 percent of the shares of Aker Drilling ASA for NOK 26.50 per share. The Board of Directors of Aker Drilling…
DnB NOR has appointed Vidar Andersen as the new head of its Shanghai branch succeeding Espen Lund who has returned to the bank’s headquarters in Oslo after an eight year stint as China country head.Vidar Andersen said today: 'I am very pleased…
Moore Stephens, understands that Her Majesty’s Revenue & Customs (HMRC) has agreed to re-examine, in consultation with the shipping industry, its earlier intention to unilaterally reinterpret the UK Tonnage Tax rules to the potential detriment of many shipowners…
HMS Global Maritime completed the purchase of the steamboat American Queen. Built in 1995, the American Queen, at 419-feet long, is the largest, most opulent riverboat ever built and offers 222 staterooms and suites that accommodate 436 guests attended to by a crew of 160…
National Steel and Shipbuilding Co., San Diego, Calif., is being awarded a $24,536,862 modification to previously awarded contract (N00024-08-C-4410) for USS Harpers Ferry (LSD 49) fiscal 2011 extended docking phased maintenance availability (EDPMA)…
Aker Solutions' operating revenues in the second quarter of 2011 were NOK 7.8 billion. Earnings before interest, tax, depreciation and amortisation amounted to NOK 636 million. Order intake in the quarter was NOK 14.3 billion.'We have a strong…
