Tognum has recently concluded an agreement with a bank consortium for a revolving credit line of €300 million. The credit line has a term of five years. In addition to Commerzbank as the coordinator, seven other banks are involved. Tognum…
The icebreaker 'Xuelong' made the Arctic Ocean passage from China through to Norwegian waters.The Chinese icebreaker completed the Arctic North-East Passage marking the first such voyage by a Chinese vessel and opening an Arctic route connecting…
Teekay Tankers Ltd. reports results for the three months ended June 30, 2012, pays out reduced dividend compared to Q1.Excerpts from the quarterly report follow:In June 2012, Teekay Tankers completed the previously announced acquisition…
The U.S. Navy reports the rescue of 10 mariners from a blazing wooden Iran-flagged boat.The recent rescue by the destroyer USS James E. Williams is at least the seventh involving Iranian sailors in nearly two years and is a reminder of U.S…
Hong Kong-based Profit Summit Deluxe Cruise partner with Thailand's Eastime Shipping for China – Thai cruises.China’s rapidly increasing involvement in cruise shipping investment has been underlined by a recently completed first cruise voyage in the Gulf of Thailand…
Yanmar Europe to display its new V-12 marine diesel engine (12AY) at upcoming SMM 2012 trade fair.With easy installation and maintenance, the purpose-built 12AY is ideal for offshore support vessels, ferries, tugs, commercial fishing craft and other demanding applications…
China Shipbuilding Industry Corp. (CSIC) is developing a manned submersible for dives to 4,500 meters (14,764 ft).The move comes as part of a greater plan for the nation to eventually build a deep sea station where submersibles can dock and oceanauts can work…
Korean companies Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries contract GE technology.The GE equipment will be installed on 23 new LNG ships and represents total propulsion power of 1,105 megawatts.Traditionally,…
New Fjellstrand designed WindServer Trimarans for World Marine Offshore to be classed by GL.As offshore wind developments move further offshore, into deeper waters with more extreme weather conditions, the challenge of providing operations…
As the demand for ship supply services off the island of Sri Lanka grows, so too has GAC Sri Lanka.The company has moved into new, bigger premises at Galle and Trincomaleeand opened a new branch in Hambantota to accommodate increased maritime activities and better meet its customers' needs…
Russia’s first two Borey-class strategic submarines will be ultimately deployed with the Pacific Fleet says Defense Minister.The submarines Yury Dolgoruky and the Alexander Nevsky are undertaking test runs in the White Sea and are expected to be commissioned by the end of 2012…
High activity on the Norwegian shelf leads to high day rates for drilling rigs.Desperate oil companies are forcing day rates for drilling rigs to reach new heights. Analysts believe day rates will be over $700,000 this autumn, reports the 'Barents Observer'…
Survey ship HMS Echo become the first Royal Navy ship to visit Libya since the fall of Colonel Gaddafi.HMS Echo, in the final stages of a 19-month mission to gather ocean data and update nautical charts in waters east of Suez, began her Libya…
IMO Secretary-General at Korean World Fair to reiterate organization’s commitment to sustainable maritime development.IMO Secretary-General Koji Sekimizu will be among the high-level attendees as the Expo 2012 World Fair in Yeosu, Korea, nears its close…
Latest Pike Research report focuses on a small & highly specialised market that is due to grow steadily.Demand for submarine cables is growing steadily as national governments and regional organizations pledge their efforts to expanding offshore renewable power generation…
