The Petra Galaxy, designed by Conan Wu and Asscoiates, is the latest vessel to join the fleet of Perdana Venus Ltd. of the Marshall Islands. The 75-by-20m maintenance/work vessel has approximately 700 sq. m. of open deck space with an intended capacity of five tons per sq…
The U.S. Department of Transportation’s Maritime Administration today announced $17.1 million in grants to 14 small shipyards in 10 states. The grants are part of the Assistance to Small Shipyards program.“Small shipyards are vitally important for the health of the maritime industry…
StatoilHydro has begun production from the Tyrihans oil and gas field in the Norwegian Sea. The new field comprises Tyrihans South, an oil field with a gas cap, and Tyrihans North, a gas and condensate discovery with a thin oil zone. The recoverable…
On June 28, the Sevan Driller, first circular drilling rig prepared for drilling at a water depth of almost 4,200 m was named at COSCO Shipyard Group's Qidong Shipyard. A grand naming ceremony was held at the site to celebrate the completion…
Spyros M. Polemis, an international business leader who has spent more than 45 years in the shipping industry, has been elected to serve on the Stevens Institute of Technology Board of Trustees. Mr. Polemis was named to the board during its spring meeting…
“2008 was generally still a very good year with impressive 8.4% growth. In autumn, however, gloom also spread to our sector, which has been so used to success in the last five years,” reports Dr. Alexander Nürnberg, chairman of the German Engineering…
The United Kingdom Hydrographic Office (UKHO) invites organizations to assist in the future development of its marine geographic information business, SeaZone Solutions Limited (“SeaZone”). SeaZone was established in response to a market need…
The Council of the International Maritime Organization (IMO) has endorsed the decision of a Panel of Judges that the 2009 IMO Award for Exceptional Bravery at Sea should go to three nominees. U.S. citizens Maurice and Sophie Conti were nominated…
Drewry’s latest Container Forecaster analysis predicts casualties and continued unsustainable freight rates unless the industry market share mind-set is discarded. According to Drewry’s analysis, there will be a 10.3% contraction for containers…
Royal Caribbean Cruises Ltd. (RCCL) has announced the appointment of Larry Pimentel to the newly created position of president and chief executive officer of Azamara Cruises. Pimentel will have responsibility for the strategic direction and…
According to Reuters, STX expects top South Korean shipyards to jointly win offshore project orders from Brazil's Petrobras. Petrobras is expected to issue large tenders for offshore oil development vessels, including drillships and floating product storage and offloading units…
According to China Daily, the nation’s shipbuilding sector is suffering from a shortage of funds. China's ship builders received 1.18 million deadweight tons (DWT) of new orders in the first five months this year, a decrease of 96 percent year-on-year…
Paragon Shipping Inc. has entered into new two-year time charter contracts for the Calm Seas and the Coral Seas. Both vessels have been forward fixed on period time charters for 23 to 26 months at a gross daily rate of $15,775 per vessel with Intermare Transport GMBH…
As part of its Expansion Program, the Panama Canal Authority (ACP) plans to solicit bids for the fourth and last dry excavation project. The project will be the final phase in creating a critical access channel that will link the new Pacific…
SSP Offshore Inc. of Houston, TX has entered into an agreement with Dubai-based Global Process Systems Inc. (GPS) to form Global SSP, a 50/50 joint venture. The new JV, based in Singapore, will focus on commercializing the proprietary SSP platform…
