News


Hyundai Steel's Q1 Net Rises Nearly Five-Fold

According to an Apr 27 report from TradingMarkets.com, Hyundai Steel Co. (KSE;004020), South Korea's No. 2 steelmaker, said its net profit rose nearly five-fold in the first quarter from a year ago thanks to increased sales.

Marine Exhaust Systems Wins Patent Lawsuit

On April 21, the United States District Court for the Southern District of Florida found that DeAngelo Marine Exhaust willfully infringed on two of Marine Exhaust Systems, Inc.'s U.S. patents and that these patents are valid and enforceable.

Paragon Shipping Contracts for Drybulk Vessels

Paragon Shipping Inc. (NYSE: PRGN), a global shipping transportation company specializing in drybulk cargoes, announced that it has entered into shipbuilding contracts with a Chinese shipyard for the construction of two Handysize drybulk vessels,

Scorpio Tankers to Purchase Handymax Tankers

Scorpio Tankers Inc. (NYSE: STNG) announced that it entered into agreements to purchase four double hulled Handymax tankers for an aggregate purchase price of $99m. The ships, which are charter free, are scheduled to be delivered between May and September 2010.

Holland America Worth $481M to State Economy

Holland America Line contributed $357m to the Seattle economy and $481m to Washington state, mostly stemming from the cruise line's Seattle to Alaska itineraries. Holland America Line has added a fourth ship to the Seattle contingent,

The BRAtt: Burchett Robert Allan Training Tug

The BRAtt project evolved from Ron Burchett’s training programs for tug operators using radio-remote controlled scale models. Why not build a model that is large enough for the operator and instructor to ride on and learn in the same space frame of reference as the boat? The BRAtt is a 25.

New Address for CEPSA Marine Fuels

CEPSA Marine Fuels’s new office has been moved to a new CEPSA building in the area. The new remains close to Madrid’s airport (Barajas) and is within the same business park (Campo de las Naciones). The new mailing and visiting address is: CEPSA Marine Fuels, S.

Northrop Grumman Moves to Virginia

Northrop Grumman Corporation (NYSE: NOC), announced that it will locate its new corporate office in Virginia, concluding a search that also included the state of Maryland and the District of Columbia.

Kobelco Polyglycol Lubricant Receives Patent

Kobelco Eagle Marine Engineering Ltd. (KEMEL) announced that its polyglycol-based stern tube and CPP/thruster gear lubricants ST-77 and TH-100 have recently received a U.S. Patent. Introduced to the marine market in 2005, there are now about 70 vessels taking advantage of this lubricant.

This Day in Coast Guard History – April 28

1908- Secretary of Commerce and Labor was authorized to patrol regattas and transfer that authority to another Department if need be. Thus the Revenue Cutter Service became the primary federal agency that patrolled regattas.

This Day in Naval History – April 28

1962 - Naval forces capture Forts Jackson and St. Philip, LA 1965 - Dominican Republic intervention began 1944 - U.S. LSTs attacked during Operation Tiger 1993 - SECDEF memo orders Armed Forces to train and assign women on combat aircraft and most combat ships,

Angola LNG, Colle Maritime 20 Yr Contract

Colle Maritime Company of Pascagoula Miss., a joint venture between Signet Maritime Corporation and Colle Towing Company, has been awarded a twenty-year contract to provide marine services to Angola LNG Supply Services LLC (ALSS) in the Port of Pascagoula, Miss.