Latest News
Fincantieri Invests in U.S. Yards
Nov 5 2009 9:29PM
Fincantieri Cantieri Navali Italiani S.p.A is investing and committing more than $40m in 2009-10 facility improvements at its mid-tier United States shipyards, Marinette Marine Corporation (MMC) and Bay Shipbuilding Company. The currently approved improvements are the beginning of a five-year $100m plan...
P.B. Shah President Ingram Barge Co.
Nov 5 2009 9:28PM
P.B. (Kaj) Shah, Senior Vice President of Customer Service, was named President of Ingram Barge company. The appointment was announced by Craig E. Philip, CEO of Ingram Barge Company.Shah has been an Ingram executive since 1989. Most recently, he has been responsible for managing the logistics and transportation...
Hornbeck Offshore Q3 2009 Results
Nov 5 2009 9:28PM
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced results for the third quarter ended September 30, 2009. Third quarter 2009 revenues decreased 17.4% to $90.1 million compared to $109.1 million for the third quarter of 2008. Operating income was $27.1 million, or 30.1% of revenues, for the third quarter of 2009 compared to $52...
Shell’s Successful South African Offshore Bid
Nov 5 2009 9:26PM
The South African Petroleum Authorities confirmed Royal Dutch Shell plc as the successful bidder for exploration rights in the Orange Basin deep-water area, off the country’s west coast. Shell and the government will now negotiate the details of an exploration contract. The exploration area...
Bender Secures Loan, Sells Assets
Nov 5 2009 9:25PM
According to a Nov. 4 report from www.al.com, attorneys for Bender Shipbuilding & Repair Co. reached an agreement Tuesday with creditors that will allow the bankrupt Mobile, Ala. company to borrow up to $6m while it tries to sell assets.(Source: www.al.com) ...
Seaspan Reports Financial Results
Nov 5 2009 9:25PM
Seaspan Corporation (NYSE: SSW) announced the financial results for the three and nine months ended September 30, 2009. Third Quarter 2009 and Year-to-Date Highlights: - Reported revenue of $74.1 million and $207.0 million, respectively, for the three and nine months ended September 30, 2009 compared to $57...
Naval Units Cooperation Disrupts Pirates
Nov 5 2009 9:04PM
On the morning of November 5th a General Cargo ship and a Bulk Carrier were attacked in the Gulf of Aden. Cooperation between EU NAVFOR and NATO prevented two more hijackings.Early in the morning, MV Theoforus I, a Panama flagged Bulk Carrier was attacked by pirates using automatic weapons and a Rocket Propelled Grenade...
Seaware Routing Version 5
Nov 5 2009 9:03PM
Seaware AB announced a new major upgrade for its Seaware Routing software, introducing cost-based ship route optimization. The Seaware Routing software is designed to facilitate on board weather presentation and ship route planning, and is delivered as part of weather routing solutions from Seaware partners...
DryShips Debt Agreement
Nov 5 2009 9:02PM
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has signed an agreement with Commerzbank and West LB on waiver terms for $70 million of our outstanding debt. This agreement is subject to customary documentation...
Coast Guard Photo
Nov 5 2009 9:01PM
The 378-ft Coast Guard Cutter Rush, homeported in Honolulu, Hawaii, arrives in Shanghai, Sunday, Nov. 1, 2009. The crew of the Rush is in China to engage in maritime partnerships and cultural exchanges. (U.S. Coast Guard photo by Petty Officer 1st Class Christopher Evanson)...
Excel Maritime Reports Q3 Results
Nov 5 2009 8:56PM
Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the third quarter and nine-month period ended September 30, 2009. Third...
Cargotec Contract to Supply Namibia Namport
Nov 5 2009 8:53PM
Cargotec has won a contract to supply six Kalmar E-One² rubber-tyred gantry (RTG) cranes to Namport in Namibia for increasing operational efficiency at their Walvis Bay port. The RTGs will be delivered during the second half of 2010. The 7+1 wide and 1-over-5 high RTGs will be equipped with an autosteering...
Ship Bound for Breaking Finds New Career
Nov 5 2009 8:32PM
The Margaret Hill, a 50,700 tonne liquid natural gas tanker, was stopped from leaving the UK’s Southampton docks in August this year. The Environment Agency took swift action after it received intelligence that the ship was bound for dismantling on the Indian subcontinent, where ships are routinely...
This Day in Coast Guard History – Nov. 6
Nov 5 2009 8:31PM
1882-At half past 4 in the afternoon the lookout at Station No. 8, Tenth District (Forty Mile Point, Hammond’s Bay Lake Huron) discovered a small boat north of the station about six miles distant, drifting out into the lake apparently unmanageable. Two of the life-saving crew put off in a sailboat...
This Day in Naval History – Nov. 6
Nov 5 2009 8:24PM
1851 - U.S. Navy expedition under command of LT William Lewis Herndon, on a mission to explore the valley of the Amazon and its tributaries, reaches Iquitos in the jungle region of the upper Amazon after their departure from Lima, Peru. 1941 - On Neutrality Patrol, USS Omaha (CL-4) and USS Somers (DD-381)...
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