Dubai Ports World, which owns P&O, aims to make around $4.32bn (£2.06bn) as it lists 17% of the firm’s shares. The company announced that it would sell 2.822 billion shares costing between $1 and $1.3 each on the Dubai International Financial Exchange.
Coastguards have warned people not to set off emergency flares during firework celebrations after a yacht was hit while a family slept inside. A flare landed on a boat owned by Tim and Judy Atkinson, from Andover, Hampshire, as it was moored in Southampton on Saturday night.
Somali pirates have released two South Korean-owned fishing boats held since May in waters off the Horn of Africa. The two boats and their 24 Asian crew members were escorted to safe waters by the US navy.
DP World, the Dubai-based container terminal operator, is planning to double worldwide capacity over the next 10 years. Mohammed Sharaf, chief executive, told the Financial Times that part of those plans would include accelerating the expansion of its home port in Dubai, where rapid growth has led t
Under cloudless blue skies Saturday morning, Areti II became the 30th yacht to be launched by Burger Boat Co. since 1993. The 127-foot, tri-deck vessel will join its twin, Areti I, in St. Augustine, Fla. later this month after undergoing sea trials on Lake Michigan. The multi-million dollar ships we
Rolex Sydney Hobart Yacht Race yachts Skandia and Georgia from Victoria and Matangi from Tasmania sailed impressively in a rugged race across Bass Strait from Melbourne to Stanley on the north-west tip of Tasmania over the weekend.
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), laid the keel for the seventh dry cargo-ammunition ship in the U.S. Navy’s T-AKE program and started construction of the eighth ship this week. Both ships will be delivered to the Navy in 2009.
A sea captain has been jailed for a year after crashing his ship into an unmanned gas platform while drunk, causing up to £10m damage. Zbigniew Krakowski, 56, from Poland, was nearly three times over the legal alcohol limit when the Jork hit the Echo platform off Norfolk on 4 August.
Kawasaki Kisen Kaisha, Ltd. announced today that ‘K’ Line will further invest in the business of Offshore Support Vessels, where continuous strong growth is expected in active oil and gas exploration and development that is now moving more and more into deeper waters following the higher energy pric
The U.S. Navy said Thursday that it intended to remove pirates from a hijacked Japanese tanker monitored by American warships off the coast of Somalia. A crew member’s sister said negotiations were under way for the release of the ship. The Navy came to the aid of the chemical tanker this week, at o
The Navy yesterday terminated a General Dynamics contract to build a ship to patrol waters close to shore after the company and the service were unable to strike a deal on costs. The littoral combat ship program has been plagued by hundreds of millions of dollars in cost overruns, prompting intense
The super maxi Skandia, one of four major contenders for line honours in this year’s Rolex Sydney Hobart Yacht Race, will return to offshore racing in this weekend’s race across Bass Strait from Melbourne to Stanley on the north-west tip of Tasmania. Skandia, the Don Jones designed 30m yacht owned b
South Korean officials and businessmen will visit North Korea to check the feasibility of building joint shipbuilding districts, the government said Friday (Nov. 2). The team is expected to visit Nampo and Wonsan from Saturday to Wednesday, the Ministry of Commerce, Industry and Energy said.
The Cruising Yacht Club of Australia is delighted to announce a larger than anticipated fleet of 90 yachts has been nominated for the Rolex Sydney Hobart Yacht Race 2007, Australia’s premier bluewater event.
