Røkke wins battle for Kværner
Norwegian billionaire Kjell Inge Røkke looks to have won his battle to gain control of Kvaerner.

Geophysical companies to merge
Here comes another "merger of equals." This time it's the boards of Petroleum Geo-Services ASA and Veritas DGC Inc. that have approved a definitive agreement to combine their two companies.

Kværner struggles on
Kværner's Board, in an extraordinary meeting last night, decided that operations can continue until shareholders vote over the proposed refinancing of the Group at an Extraordinary General Meeting on 29 November.

Manitowoc to build two more buoy tenders
The Manitowoc Company's Marinette Marine subsidiary has been awarded options to build two additional seagoing buoy tenders for the U.S. Coast Guard.

Wärtsilä may buy John Crane-Lips
Smiths Group and Wärtsilä Corporation announce that they are in exclusive discussions regarding a possible sale by Smiths Group of John Crane-Lips to Wärtsilä.

Titan joins MRA
The directors of Seattle-based Marine Response Alliance LLC (MRA) announced today that Titan Maritime LLC (Titan) has joined the alliance as a full and equal member, effective immediately

New Kvaerner CEO plans to keep Philadelphia yard
Kristian Siem, the new chief executive officer of Kvaerner ASA says the Philadelphia yard is no longer for sale, reports the Philadelphia Inquirer.

Princess and RCL to merge
P&O Princess Cruises plc and Royal Caribbean Cruises Ltd. have agreed to what's described as a "merger of equals under a dual listed company structure."

Japanese export credit financing for Princess
P&O Princess Cruises plc today secured over $700 million of Japanese export credit financing.

Golar studies conversion of LNG ship to floating terminal
Golar LNG Ltd. has signed an agreement or a feasibility study covering a floating LNG regasification terminal for the US market.

Conference agrees $33 million for Title XI in FY 2002
A House-Senate conference allocated $33 million for the Title XI program in a spending bill for FY 2002 on which both Houses of Congress will now vote.

DOT Inspector General to audit Title XI
The U.S. Department of Transportation's Inspector General is initiating an audit of the Title XI loan guarantee program

Northrop Grumman and NNS ink acquisition agreement
Northrop Grumman Corporation and Newport News Shipbuilding Inc. have signed a definitive agreement under which Northrop Grumman will acquire Newport News Shipbuilding.

French oil giant under judicial investigation
TotalFinaElf has been placed under judicial investigation in connection with the December 1999 Erika pollution disaster.

Royal Olympic Cruises to take delivery of Olympia Explorer
Relations between Greece's Royal Olympic Cruise Lines Inc. and German shipbuilder Blohm + Voss look to be improving.

Aker Maritime hit by by losses on Kvaerner shares
Aker Maritime reports that operational performance continued to improve in the third quarter. Profits were however severely hit by a write-down of the group's Kværner holding

MarAd offers "green" workshop
On January 29 and 30, 2002, the Maritime Administration, Department of Transportation, in conjunction with the Department of Energy and Environmental Protection Agency will conduct a workshop in Washington, D.C. on Maritime Energy and Clean Emissions

Hornbeck-Leevac revenues soar
Revenues for the quarter ended September 30, 2001 increased 118.4 percent to $21.4 million, compared to $9.8 million for the same quarter in 2000, Hornbeck-Leevac Marine Services, Inc. reports

More orders for Sulzer RT-flex diesels
Wärtsilä Corporation reports orders for more Sulzer RT-flex engines--the world's first low-speed marine engines to have common-rail fuel injection,

Navy announces DD (X)
The Navy is to issue a revised RFP for the Future Surface Combatant Program which will now be called DD(X) "to more accurately reflect the program purpose ... to produce a family of advanced technology surface combatants, not a single ship class."

Marine security company launched
A new company has been launched to "address the challenges of marine security" in the wake of the September 11th terrorist attacks.

Boston LNG shipments resume
The Coast Guard and its partners are preparing for a Liquefied Natural Gas (LNG) shipment to Everett, Mass., this week

Suicide bombers attack Sri Lankha tanker
Residents of Sri Lanka's Jaffna peninsula will soon face an energy crisis following a suicide bomber attack on a small tanker earlier this week.

Liberian maritime funds to be put in escrow?
An independent panel has recommended to the U.N. Security Council that revenues from Liberia's maritime program be put in an escrow account.

Siem is new Kvaerner chief
As Kvaerner geared up for asure to be stormy extraordinary meeting, it announced the appointment of Kristian Siem as its new president & CEO.

Northrop Grumman takes $60 million hit on cruise ships
Northrop Grumman Corporation says it has stopped work on the Project America program

Crowley Marine Services reorganizes
Crowley Maritime Corporation has reorganized its Crowley Marine Services subsidiary into three distinct operating groups