News


Sevan Driller Completed

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.

Polemis Elected to Stevens Board of Trustees

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, May 20-21, 2009.

German Marine Industry: Preparing for Lean 2010

“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,

SeaZone Announces Business Opportunity

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

IMO Awards Rescuers for Bravery

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

Container Sector Feels Recession Heat

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.

RCCL Names Pimentel President & CEO

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

Petrobras Expected to Award Contracts

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.

Chinese Shipbuilding Industry Faces Credit Crunch

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,

Paragon Shipping Signs Two-Year Contracts

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.

Fourth Panama Canal Excavation Project

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

New Joint Venture Global SSP

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,