NOVEMBER 2003

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Concorde's last trip
Barged to Intrepid

U.S. audit problems for PGS
Headaches with GAAS and GAAP

Deep red ink for Stolt Offshore
2003 losses could reach $450 million

EC eases shipyard subsidy rules
More aid allowed for "innovation"

Dow sues chemical carriers
Seeks damages for alleged price fixing

More Chinese orders for MAN B&W
Main propulsion engines for eleven feederships

BIMCO drafts ISPS time charter clause
Responds to shipowner requests

Dragon boats cruise Hong Kong Harbor
Latest deliveries from Austal's Image Marine

Triple rudders show their worth
Triple Rudders from Canada's Nautican Nautican Research & Development are making improvements in the steering capability of pusher tugs, including ocean- going Articulated Tug Barges (ATB)

Kleven bags Bourbon orders
Two "post-Prestige" response boats to protect French coast

American P&I Club ups rates
Continuing "hostile liability climate."

NASSCO floats out Alaska class tanker
...and lays keel for next in series

Bollinger delivers its 100th USCG vessel
Production and relationship milestone

Derecktor launches AMHS fast ferry
M/V Fairweather starts trials

New Chairman for A.P. Moller-Maersk
Maersk Mc-Kinney Moller steps down

First Manitoc Toledo newbuild in 15 years
110,000 bbl d/h barge for Hornbeck

Prestige steel refutes poor maintenance allegation
... and a published "fax" has some curious features

Powerful propulsion package for Austal trimaran
40 knots for Olsen ferry

$11.7 million contract mod for Bollinger/Incat
TSV lease extended

QM2 completes final sea trials
On track for inaugural voyage

Apprentice program pays off
Austal USA program now in third year

BMI buyer will reopen yard
plans to start with barge construction

LISCR seeks UN audit
gets endorsement of new Liberian Government

Cat completes sea trials
Schooner Creek delivers Hawaii cruise boat

Ferry captain pleads fifth amendment
Declines to answer NTSB investigators

Two more ferries on Ebay
1950-built car/passenger ferry and a 1986-built cat are on the electronic block

Hornbeck announces increased revenues and a barge construction program
Hornbeck Offshore Services, Inc. today announced that revenues for the quarter ended September 30, 2003 increased 26.5 percent to $28.2 million and gave details of a newbuilding program for its wholly-owned subsidiary, Hornbeck Offshore Transportation, LLC.

ITF seeks UN action against piracy
Problem should be brought to Security Council

PGS leaves Chapter 11
Trading in new ordinary shares to start

U.K. High Court blocks work on MARAD "ghost ships"
Injunction granted until legal arguments resolved

Appointments at Holland America Line
Kruse and Giersdorf move up

KMM restructures U.S. operations
Closes Annapolis office

Pay cuts and dump scows at Conrad
Company moves to adapt to challenging market

New Iberia yard busy with crew boats
Three under construction at Neuville Boat Works

CMA picks next Commodore honoree
Connecticut Maritime Association names Peter C. Georgiopoulos

New England Fast Ferry orders cats
Two from Derecktor

MARAD scrap ships hit snag on way to U.K.
British Environmental Agency says authorizations are invalid

PVA security plan approved
Alternative way to meet MTSA requirements

Tenix Defense delivers SAR vessel to Phillipines
Fifth of six vessel series