News


Air Bubbles to Reduce CO2 Emissions

NYK and Mitsubishi Heavy Industries, Ltd. are to begin experiments on an air-lubrication system to reduce CO2 emissions during marine transport. Jointly developed by the two companies, the system effectively

Management Change at Davie Yards

Davie Yards Inc. (TSX:DAV) announced that Alain Tanguay has tendered his resignation as Chief Financial Officer of the Corporation, effective February 26, 2010, to pursue other career opportunities. The Corporation has begun a search for a new CFO.

MOL Carriers Rescue Students

Mitsui O.S.K. Lines, Ltd. announced that its woodchip carriers Hokuetsu Delight and Crystal Pioneer searched for survivors of a training ship 550 km southeast of Rio de Janeiro in the South Atlantic, and rescued all 64 who had been aboard,

Offshore Wind Demo Project

The U.S. Army Corps of Engineers (USACE) issued a notice stating that it intends to prepare a draft environmental impact statement for the proposed Duke Energy Carolinas, LLC Offshore Wind Demonstration Project for construction of up to three power generating wind turbines within Pamlico Sound,

Great Lakes 2010 Pilotage Rates

The U.S. Coast Guard issued a final rule establishing the rates for pilotage services on the Great Lakes. With effect from August 1, the rates will increase by an average of 5.07%. 75 Fed. Reg. 7958 (February 23, 2010). (Source: Bryant’s Maritime News)

Star Bulk Q4 & Year End Results

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the fourth quarter and the year ended December 31, 2009.

Incat Crowther Monohull Crewboat

Incat Crowther announced construction of a 118 ft Monohull Crewboat for the Brazilian oil giant, Petrobras. This vessel is one of the first projects to take advantage of Incat Crowther’s new USA office.

New Navy Contract

Northrop Grumman Shipbuilding, Inc., Newport News, Va., is being awarded a $19,400,942 modification to previously awarded contract (N00024-08-C-2100) for planned and growth supplemental work for the accomplishment

NewLead Holdings Buys Vessels

NewLead Holdings Ltd. (NASDAQ:NEWL) announced that it has signed a Stock Purchase Agreement providing for the purchase of two Kamsarmaxes for an aggregate purchase price of $112.7m and signed a Memorandum of Agreement for the sale of the product tanker Chinook for $8.

Navios Reports Q4 Results

Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, reported financial results for the fourth quarter and year ended December 31, 2009. Angeliki Frangou,

Wärtsilä Slow Steaming Upgrade Kits

Wärtsilä has signed a contract with the German shipowner Jüngerhans, located in Haren (Ems), Germany, to refit two of its vessels with Wärtsilä Slow Steaming Upgrade Kits to cut fuel costs. The 1997-built vessels are equipped with 7-cylinder Wärtsilä RTA62U main engines.

U.S. Navy Rescues Ship, Catches Pirates

According to a Feb. 23 report from Reuters, a U.S. Navy warship prevented an attack on a Tanzanian ship and apprehended eight suspected pirates in the process, the U.S. Embassy in Tanzania said. USS Farragut