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POSTINGS FOR OCTOBER, 2000

OCTOBER
$53 million orders for FGH
Friede Goldman Halter, Inc. has announced new projects with a combined value of more than $53 million, excluding options.

Aker Maritime sells deepwater division
and Canadian unit

Coflexip Stena Offshore has entered into a conditional agreement to acquire Aker Maritime ASA’s deepwater operations, headquartered in Houston, for $513 million plus the assumption of net debt estimated to amount to $112 million. The division includes the Aker Gulf Marine yard in Texas. Aker Maritime bought out a partner’s 49% holding in the yard earlier this year for $86 million. Separately, Aker Maritime announced that its Maritime Hydraulics (MH) unit is selling its Canadian subsidiary Maritime Hydraulics (Canada) Ltd. which, despite the "maritime" in its name, actually designs and manufactures onshore drilling equipment.

$110 million financing for FGH
Friede Goldman Halter, Inc today announced that it had completed a $110 million financing arrangement. The financing is a three-year commitment that includes a $70 million line of credit and a $40 million term loan.

Rolls-Royce, Northrop Grumman, and DCN team to produce new marine gas turbine
Northrop Grumman and Rolls-Royce have signed an agreement with the French marine engineering company Direction des Constructions Navales (DCN) to market and produce the WR-21 marine gas turbine.

RO/RO lifeline for Harland & Wolff
U.K. Prime Ministe Tony Blair MP, had good news for shipbuilder Harland and Wolff when he stopped off at the yard during a short visit to Northern Ireland today.

ACL and Ultrapetrol combine South American barge companies
American Commercial Lines LLC ) and Ultrapetrol Bahamas Limited have signed an agreement to combine their inland river barge transportation companies operating on the Parana/Paraguay River system in South America.

McAlear new Kværner Philadelphia president
Kvaerner today announced the appointment of Ron J McAlear, as CEO of its Philadelphia Shipyard.

Graykowski leaves MarAd
Acting U.S. Maritime Administrator John Graykowski will resign his position on November 4.

London and New York stock market launch
for P&O Princess Cruises

P&O Princess Cruises plc (“P&O Princess”) yesterday saw the launch of its shares on the London Stock Exchange and of its ADRs on the New York Stock Exchange (“POC”). This move follows the demerger of the company from the P&O Group.

Sale-leaseback for Aker seismic ships
Aker Maritime has sold its two seismic ships for NOK 900 million and entered a lease-back arrangement. This frees up NOK 750 million in capital which will mainly replace short-term financing established in connection with the buy out of its partner's 49 per cent in Aker Gulf Marine.


Manitowoc buys Marinette
The Manitowoc Company, Inc., has signed an agreement to purchase the stock of Marinette Marine Corporation.

Hvide yard starts construction of another landing craft
Sun State Marine Services, Inc., a subsidiary of Hvide Marine Inc. has begun construction on the second in a series of new U.S.-flag cargo ships at its shipyard facility in Green Cove Springs, Florida.

SENESCO gets barge order from NNS
Southeast New England Shipbuilding Co. (SENESCO), Quonset Point, R.I., is to build three barges for Newport News Shipbuilding.

Tidewater buys eight more
Tidewater Inc.has entered into an agreement to purchase eight vessels from the Sanko Steamship Co., Ltd. for $160 million in cash.

AMCV completes $76.4 million financing for coastal cruise ships
American Classic Voyages Co. has issued $76.4 million of bonds guaranteed by the U.S. Maritime Administration. The proceeds will be used to finance construction of two coastal cruise ships at Atlantic Marine, Inc.,

Record earnings for RCL
Here's why big cruise lines keep ordering big new ships. Royal Caribbean Cruises Ltd.announced record third-quarter results today. Net income increased 18.5% to $201.5 million, or $1.04 per share, in the third quarter of 2000, compared to $170.0 million, or $0.92 per share, in the same quarter of 1999.

Update on status of Ocean Rig deliveries
Ocean Rig today issued an update on the status of the two rigs it has under construction at Friede Goldman Halter. The first rig, Leiv Eiriksson, is, according to ABB Offshore Systems AS today approximately 94%
complete.

Frontline completes Golden Ocean acquisition
Frontline has completed the acquisition of the Golden Ocean Group.

OMI not pursuing private placement

Canadian shipbuilding jobs could more than double

Canadian premiers stage maritime policy meeting

Agreement in BIW dispute

Polar Tankers exercises $197 million option for fourth Alaska tanker

Greek shipping companies strike to protest ferry crack down

Ferry proposed for Hilton Head

Infinity will be late

Tanker captain held without bail

Tidewater buys platform supply vessels
.

Star to challenge AMCV in Hawaii market

Glomar appeals Harland & Wolff decision

Teekay Shipping selects DNV for services contract

Greek Government promises ferry shake-up

Farstad orders AHTS's

Kværner offer expires
period for Aker Maritime.

Another Aker Maritime deepwater spar order

Bouguyes invests in Italian fab yard partner

Chiles orders ultra-premium jack-up

Two more for Costa

EU-Korea consultations on shipbuilding fail

 

NEWS STORIES FOR NOVEMBER 2000

NEWS STORIES FOR SEPTEMBER 2000

NEWS STORIES FOR AUGUST 2000 

NEWS STORIES FOR JULY 2000 

NEWS STORIES FOR JUNE 2000 

NEWS STORIES FOR APRIL-MAY 2000 

NEWS STORIES FOR JANUARY-MARCH 2000 

News postings for September-December 1999 

News Postings for August-January 1999

 

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