Oil and gas driller Diamond Offshore Drilling Inc. on Wednesday said profit more than quadrupled in the first quarter as surging demand for its rigs resulted in sharply higher rates. Net income rose to $145.3 million, or $1.06 per share, from $30.1 million, or 23 cents per share, a year ago. Revenue
Ridiculing the Bush administration’s port security plans, Democrats on Capitol Hill on Tuesday called for the overseas inspection of every shipping container headed to the United States. The Democrats, who are energized by the embarrassment caused to President Bush by the failed plan by a Dubai comp
State-run Shipping Corporation of India Ltd plans to pursue more joint ventures to help unshackle itself from lengthy government approvals for buying vessels that cap its growth, its chairman said on Tuesday. SCI, India
RSVP Vacations, the company that launched the all-gay charter cruise industry, continues to raise the bar in the highly competitive travel market with another first — a gay and lesbian transatlantic cruise on Cunard’s legendary Queen Mary 2. Set for a Memorial Day 2007 weekend departure, the luxury
The government will do background checks on 400,000 seaport workers in an effort to protect the nation’s ports from terrorism, the Homeland Security Department announced Tuesday. Port workers and others will also be given “tamper-proof” identification cards to tighten security in areas where million
Northrop Grumman reported Tuesday that its first quarter profits fell 12.5 percent, as the Hurricane Katrina’s aftermath led to reduced shipbuilding sales in the company’s Gulf Coast operations. The company, the country’s third largest defense contractor, reported net income of $358 million for the
On the 31st of March Smit and Damen Shipyards Gorinchem reached an historic agreement for the construction and delivery of 11 Damen Azimuth Stern Drive Tugs. Two of these vessels (type ASD Tug 3211) have been awarded a long term contract in Equatorial Guinea. Four vessels (type ASD Tug 2810) will re
Aker Kvaerner has signed a contract with Jurong Shipyard Pte. Ltd in Singapore for delivery of a drilling system for one ultra deepwater drilling semi-submersible unit. The total contract value for Aker Kvaerner is approximately USD 113 million. The contract is undertaken by the Aker Kvaerner subsid
Hyundai Heavy Industries Co. (HHI) recently secured an order for four (4) 8,600 TEU large containerships from Principals of Zodiac of the UK worth US$540 million. The ordered vessels will feature a length of 339.6m, width of 45.6m, depth of 24.6m with a service speed of 27 knots. Each vessel will be
The retired aircraft carrier USS Oriskany will be sunk as an artificial reef off the coast of Florida, USA in May 2006. The Oriskany arrived aboard Naval Air Station Pensacola, Florida from Beaumont, Texas on March 22, 2006, where the Navy’s contractor will accomplish the final reef preparations. Th
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The first images of 25 sailors, including 5 Vietnamese, of a Korean-owned fishing vessel abducted by pirates offshore Somalia were released Tuesday by an Associated Press TV channel. The 361-ton Dongwon 628 was seized on April 4 when it was in international waters about 100km from the coast of the N
Four crew members were rescued and another five missing when a cargo ship sank off Armutlu town of the northwestern Turkish province of Yalova early on Wednesday. The Turkish-flagged ship “Haci Ibrahim” was carrying 1,200 tons of fertilizer from Gemlik to the northern province of Samsun when it sank
DryShips Inc. said on Tuesday, it entered into an agreement to acquire a second-hand Panamax drybulk carrier called m.v. Atacama. The company noted that the vessel would be acquired with a timecharter attached at a daily rate of $29,000 until February 2007 and thereafter at a daily rate of $18,400 u
