MARINE LOG NEWS STORIES
NOVEMBER 2008

 

Faina release imminent?
Pirates and owner said to agree size of ransom

WSDOT set to accept Todd bid for one 64-car ferry
Governor gives O.K. because of urgent need for replacement vessel on Keystone-Port Townsend route

UK War Risks Club seeks international members
will accept applications for war risks insurance from shipowners with no connection with the United Kingdom

Chemical tanker hijacked--Security team escapes
three man "non lethal" protection team jumps overboard

Keppel O&M in rig cancellation negotiations
semisubmersible for Scorpion, two jack-ups for Seadrill and Multi-Functional Support Vessel for Lewek Shipping could be cancelled

General Maritime to appeal guilty verdicts in pollution case
Texas federal jury convicts Genmar Portuguese subsidiary and two engineers

Atwood gets $280 million additional credit facility
will help fund jack-up and semisubmersible newbuilds

Destroyed mother ship was recently-hijacked Thai trawler
Pirates seize trawler then threaten Indian frigate from it

Moody's assigns Kirby an investment grade rating
Inland tank barge operator gets Baa3 senior unsecured issuer rating

INTERTANKO seeks blockade of Somali coast
Says naval forces could coordinate security cordon

OSG fined another $3 million
Part of $37 million pollution case plea deal agreed in June

S&Y adds Z-Tech to coastal Texas tug fleet
Built by Conrad Industries' Orange Shipbuilding

Japanese export ship orders dry up
Just 11 export ships booked in October

Norway to boost ship loan guarantee funding
part of package of job-creation measures

American P&I Club raises premiums
requirements reflect a desire to maintain strong underwriting results

BIMCO piracy alert: Route ships east of Madagascar
cautions shipowners to avoid Comoros Gap

Nichols Bros. cuts workforce
reacts to Golden Gate decision to opt for second hand vessels instead of building new ferry

Golden Gate District to buy two mothballed WSF ferries
Spurned by eBayers, Chinook and Snohomish will get a $19.1 million makeover

John Deere introduces new marine diesel
6.8 L unit develops up to 256 kW

Obama eyes Arizona Governor for DHS top spot
Janet Napolitano said to be top pick to head department that includes USCG

Security Council to consider strikes on pirate shore bases?
Russia may be planning a proposal

Hornbeck Offshore renews shelf registration statements
will allow it to raise $750 million

Indian warship takes out pirate mother ship
"completely destroyed" after opening fire on frigate

Tampa Port Authority approves shipyard lease transfer to Chouest
will start construction of 300 ft supply vessel in January

International Shipholding special committee and Liberty Shipping trade shots
takeover tango gets testy

ABS promotes Pendexter
Chief Surveyor is now Corporate Senior Vice President too

More ship hijackings reported
As the U.K. handed over to Kenya eight Somali pirate suspects who survived a recent shoot out, NATO reports that at least three more ships have been hijacked since the seizing of the Sirius Star

Coast Guard to hire more civilian marine safety personnel
part of ongoing effort to enhance effectiveness of marine safety mission

Odfjell ships to avoid Gulf of Aden
won't expose crews to risks of being taken hostage

Guilty plea in plastics piling probe
Fifth executive cops plea in ongoing investigation of marine products price fixing

Moran Navy contract could be worth $49 million
harbor tug services in support of Naval Station Norfolk

Electric Boat gets contract worth potential $1.8 billion
design agent, planning yard, engineering, and technical support for active nuclear submarines

Somali pirates seize Saudi VLCC
renewed call for shipowners to embark security teams

Standard & Poor's lowers UK Club ratings
says outlook is stable

One bid for WSDOT ferry contract
Deja vu all over again

Austal JHSV contract worth potential $1.6 billion
Winning design is 103 m high speed, shallow draft catamaran

Management buy out at FSG
Flensburger Schiffbau Gesellschaft (FSG) is to be acquired from Egon Oldendorff

Lloyd Werft wins TUI Cruise conversion order
Galaxy gets more balcony cabins--and a ducktail

Pirates die in shoot out with Royal Navy
but Turkish ship is seized in separate incident

Austal wins JHSV contract
Senator Shelby breaks news

Problems mount for U.S. Shipping Partners
SEC filing cites substantial doubt about partnershipÕs ability to repay its indebtedness and to continue as a going concern

Diana positions for low market opportunities
dry bulk operator cuts future dividends to preserve liquidity

Bourbon Sagitta crew members freed
released following October 31 abduction from AHTS offshore Cameroon

Northrop Grumman names shipbuilding VP
Evan "Marty" Chanik moves from vice admiral to vice president business development

Second Stolt ship hijacked
but Indian Navy foils two other Somali pirate attacks

Two acquitted in marine hose price fixing case
Not Guilty verdicts in the cases of Val M. Northcutt and Francesco Scaglia

American Club and NAMEPA team on poster effort
Drives home message that bypassing oily water separator is a short cut to jail

Guilty pleas in magic pipe case
Hiong Guan Navegacion Japan Co. Ltd. cops plea, agrees $1.75 million fine. Two Chief Engineers face prison

Polarcus gets deferred payment deal on three newbuilds
covers final three of six X-bowed seismic ships ordered at Drydocks World Dubai

Horizon Lines to slash non-union work force
says shedding 70 of 700 jobs will cut annual costs by $7 million to $10 million

HSH Nordbank CEO steps down
says Management Board of world's largest provider of shipping finance got things wrong and "I take responsibility for this"

A.M. Best puts West of England P&I Club ratings under review
cites weakening of risk-adjusted capitalization as a result of substantial investment losses and poor anticipated underwriting performance

Veitch out as NCL CEO
Replaced by Sheehan as cruise line reports record quarter

Russian death sub was being readied for India
17 of 20 who died in Freon release accident were civilian technicians

Clipper Group ship hijacked by pirates in Gulf of Aden
reported sailing close to northern shore of Somalia

Liberty Shipping files suit against International Shipholding
steps up pressure for consideration of take-over proposal

VT Halter Marine gets $8.9 million PSV contract
will fabricate hull and deckhouses of 285 ft vessel for Candies Shipbuilders

Hellenic Carriers walks from bulker acquisition
pays $7.9 million to get out of agreement to buy 2001-built Supramax

Davie Yards gets $10 million loan from Quebec
taps into Quebec's Strategic Support for Investment Program

Todd Shipyards could face NYSE delisting
market capitalization falls below required level

Swiftships to build two coastal patrol craft for Egypt
$13.4 million contract from Naval Sea Systems Command

EC forces Polish yards into liquidation
asset sales to repay illegal subsidies

OMSA hires Manager of Jones Act Compliance
experienced investigator will collect evidence on foreign vessels that violate the Jones Act

France to take 33.34 percent stake in STX Europe's French shipyards
deal implements earlier MOU

Hornbeck reports record OSV revenues
and decides not to shed its TTB (Tug and Tank Barge) business

Chertoff talks grants--and transition
Homeland Security Secretary announces availability of $388.6 million in FY2009 Port Security Grants--and talks about turning over DHS to new Administration

Earnings up at ACL
reports 20 percent improvement in earnings per share

Busy week at Bisso Towboat
receives ISM certification and launches a reverse Z-drive tractor tug

What's ahead for Lindenau rotor ship?
Revolutionary wind-powered ship may be moved to another yard for completion

U.S. Shipping Partners to seek OTC listing
To be suspended by NYSE

Genco cancels six-ship newbuild acquisition
Forfeits $53 million in deposits

Bourbon in contact with Sagitta crew members
Captain and First Mate say all ten captured crew members in good health

CIMC takes initial stake in Yantai Raffles
Founder Brian Chang sells container giant 10 percent of Chinese yard for $67 million

Rowan puts LeTourneau sale on hold
cites capital market conditions as it reports third quarter results impacted by Ike

Aker Yards now STX Europe
name change takes effect

Keppel Singmarine completes icebreaker
second of two Barents Sea units for Lukoil

Fincantieri teams with U.K. yard for MARS shot
in alliance with Northwestern Shiprepairers and Shipbuilders Ltd (NSL) to support tender to build six fleet replenishment tankers

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