Plunging rates for chartering container vessels that carry consumer goods means a slowdown and losses for shipping lines in what is traditionally their busiest time of the year, according to a report on Bloomberg.com.As reported earlier today on MarineLink…
As CNO Admiral Gary Roughead sails toward his planned retirement in September, it appears his heir apparent as CNO, Adm. Jonathan Greenert, a 58-year-old submariner who nears confirmation, faces a number of hurdles in moving the Navy forward…
Mitsui O.S.K. Lines, Ltd. announced a downward revision of its consolidated business outlook for FY2011, ending March 31, 2012 (April 1, 2011-March 31, 2012), issued on April 28, 2011. For the year, the company has revised revenue generation down 6…
Mitsui O.S.K. Lines, Ltd. upgraded its CX1 feeder service between Panama and Manaus and the beginning of independent operation on the route. The move will provide additional space on this rapidly growing trade with four 1,700 TEU ships and stabilize the schedule to boost service quality…
ClassNK released its new Noise and Vibration Guideline for measuring and evaluating the noise and vibration on ships. The new Guideline address the growing demand for new standards for noise and vibration on commercial vessels and provides detailed…
The process of protecting the environment is one of continual improvement, there is always more that can be done to reduce the impact from industry on the environment. Regulations do not stand still and forward thinking ship owners and managers…
The 114,500-gt, 3,800-passenger cruise ship Costa Fascinosa touched the water for the first time at the Fincantieri shipyard in Marghera, Venice, a month after the delivery of the Costa Favolosa, her sister ship. Once the interiors have been fitted out…
Statoil's second quarter 2011 net operating income was NOK 61 billion, a 129% increase compared to NOK 26.6 billion (nearly $11.3 billion) in the second quarter of 2010. The quarterly result was mainly affected by a 32% increase in the average prices for liquids measured in NOK…
Joseph Keefe, editor of Maritime Professional and MarineNews magazines, last night appeared on Fox Business News' 'America's Nightly Scoreboard' with David Asman to discuss the scrapping of a pair of U.S. Navy tankers before they were complete. Joe Keefe Appears on Fox Business News
Mitsui O.S.K. Lines, Ltd. announced an upgrade to its Asia-East Coast South America Service (CSW). From July 2011 through 2012, MOL will launch a total of 10 new 5,600 TEU containerships which will replace its currently-operated vessels on the CSW…
After months of negotiations, the Assistant Secretary of the Navy, Sean Stackley, called Senator Susan Collins to tell her that the U.S. Navy and General Dynamics-Bath Iron Works (BIW) have reached an agreement for the second and third DDG-1000 that will be built in Bath…
The European Wind Energy Association (EWEA) has published offshore wind energy statistics for the first half year of 2011, showing a comfortable 4.5% increase in installations of offshore capacity compared to the first half of 2010.101 new offshore wind turbines…
According to a report on www.businessday.co.za, bad weather could drive up the cost of salvaging the stranded oil tanker MT Phoenix to $4.5m, citing information from the South African Maritime Safety Authority. The tanker reportedly ran aground north of Durban on Tuesday…
Coast Guard Commandant Adm. Bob Papp testified before the U.S. Senate Commerce, Science and Transportation Committee Oceans, Atmosphere, Fisheries and Coast Guard Subcommittee on defending U.S. economic interests in the changing Arctic.During the hearing…
Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $…
