Tidewater (TDW – commentary – Cramer’s Take) said Friday it agreed to sell 14 of its offshore tugs to Crosby Marine Transportation. The company said the sale will result in cash proceeds of $44.8 million and a gain of $22 million, or 38 cents a share. The sale will have a negligible effect on future
The number of reported incidents of piracy attacks, worldwide, remained at 127 same as 2005, according to the International Maritime Bureau(IMB). According to its armed robbery and piracy report, the IMB stated that 127 ships were attacked. 11 ships were hijacked, 156 crew members taken hostage, 13
Rolls-Royce has won another significant order for the largest naval gas turbines in the world to power a next generation US Navy warship. Two Rolls-Royce MT30 gas turbines will power the second Lockheed Martin-designed Littoral Combat Ship (LCS). Another set of the same turbines has already been ord
MacGREGOR has signed an agreement to acquire the business of Scottish company Grampian Hydraulics, which specialises in hydraulics and spare part service of offshore support vessels in the North Sea. Acquisition of Scottish ship hydraulics service company Grampian Hydraulics is in line with MacGREGO
The search for Russia
Ship building has emerged as a favourite investment option for corporate India. Lured by the flood of orders in shipyards across the world and the 30 per cent subsidy element, quite a few big companies have queued up to enter the booming ship repair and building business.
Even before her 2004 launch, the L
A fire in a research vessel off the Louisiana coast was extinguished Saturday, a day after the U.S. Coast Guard rescued 40 people from the ship. The fire was out at 1:20 p.m., and the safety zone around the 175-foot Odyssey Voyager was canceled about an hour later, Petty Officer Susan Blake said. Th
The search for fishing vessel F/B St. Mary, a dinghy and six other people who were reported missing since Wednesday continues today even as hopes they would be found were dampened by continuous stormy weather across the country. The four survivors plucked out of the waters off Lazi town in Siquijor
A fishing vessel and a tug boat have been involved in a collision off the shore of a Cornish town. Coastguards said no-one was hurt in the incident just off Looe at about 2230 BST on Saturday, and that the damage to both vessels was superficial.
U.S. and Italian shipyards are favoured to win tenders to build 19 ships and patrol boats for the fledgling Iraqi navy to enable it to take over security of Iraq’s vital off-shore oil terminals, a naval official said. Commodore Thamir Nasser said 15 patrol boats, four corvettes and two off-shore sup
St. Louis County Undersheriff Dave Phillips’ efforts to photograph the inside of the sunken cruiser USS Houston have been halted by the Navy before he could get his remotely controlled underwater camera into the ship. The photos of the ship, sunk by the Japanese during World War II, were for the USS
BP yesterday took the decision to continue production from the Prudhoe Bay western operating area (WOA), following review of new inspection data of pipelines in this area and after extensive consultations with state and federal regulators. Current production is about 150,000 barrels of oil and natur
On Saturday 12 August 2006 Odense Steel Shipyard presented its latest newbuilding, an 11,000 TEU container vessel, for the A.P. Moller – Maersk Group. Mrs Ane M
