Seaspan Corporation, the Washington family, Gerry Wang and Graham Porter are partnering with the Carlyle Group and Tiger Group Investments to acquire more than $5 billion of ships. The joint venture - which according to…
The devastating earthquake and tsunami have caused extensive damage to the ports in northeastern Japan. These ports include Kashima, Hitachinaka, Hitachi, Onahama, Soma, Sendai, Shiogama, Ishinomaki, Kesennuma, Ofunato, Kamashi, Miyako and Hachinohe, according to the…
Inland tank barge giant Kirby Corporation (NYSE:KEX) is going coastal. It has entered a definitive agreement that will see coastwise tank barge operator K-Sea Transportation Partners L.P. (NYSE:KSP) become a wholly-owned Kirby subsidiary. K-Sea says…
A turbocharger specifically designed for small-bore, two stroke engines has completed an extensive test program on MAN Diesel & Turbo's turbocharger test bed in Augsburg, Germany.The TCA44 completes MAN's TCA turbocharger range for two-stroke engines…
A hearing on "Navy Shipbuilding Acquisition Programs and Budget Requirements" held March 9 by the House Subcommittee on Seapower and Projection Forces produced some interesting testimony. The good news to emerge for shipbuilders: the Navy…
The U.S. Coast Guard issued a Port Security Advisory for Libya today, suggesting security measures for ships to take when calling upon Libyan ports.Civil unrest in Libya has prompted U.S. government concerns regarding whether port…
U.S.-flag containership operator Horizon Lines, Inc. (NYSE: HRZ) says it has entered into a credit agreement amendment with its lender group, effective March 9, 2011. The deal waives a default under the senior credit facility…
Subsea installation contractor Cecon ASA (OSLO:CECON), which is the largest customer of bankrupt Quebec shipbuilder Davie Yards, has announced a series of strategic developments. They follow the approved restructuring of the Cecon and agreement on…
Quebec shipbuilder Davie Yards says it has gotten an order extending its  stay of proceedings under Canada's Companies' Creditors Arrangement Act until April 1, 2011 Davie says it is making progress in its discussions with…
The U.S. government fled criminal charges Monday against a former Northrop Grumman Newport News shipyard inspector, accusing him of lying about weld certifications on Navy ships that he did not inspect. The charging document filed…

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