Existing shareholders in Copenhagen headquartered Torm A/S (NASDAQ: TRM) are bracing themselves for a likely “substantail dilutive effect”on the value of their shareholdings. The Torm share was trading above $4 a pop
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When Colombian tug operator Intertug S.A. needed a tugboat in a hurry, Damen Shipyards was able to deliver one from stock in two weeks. The vessel is the ASD 3213 Tanok. Built
New fuel-saving and energy-efficient propulsion opportunities are available from the MAN Alpha propeller program, which now fully integrates the Kappel tip fin propeller blade designs for both controllable pitch propellers and fixed
The 2012 Canadian Federal Budget calls for the investment of Canadian $5.2 billion over the next 11 years on a cash basis for the procurement of new vessels and helicopters for the
U.S. Coast Guard Sector Columbia River’s Area Maritime Security Committee (AMSC) has approved a $2.7 million Port Security Grant Program project to purchase three Regional Response Vessels with firefighting capability for the
Canada’s Federal Budget for 2012, released last week provides Canadian $101 million on a cash basis to restore and modernize the Esquimalt Graving Dock. The Esquimalt Graving Dock (EGD), which was originally
Brazilian shipbuilder Estaleiro Atlântico Sul (EAS) has started the sea trials of the Suezmax tanker João Cândido. Brazilian website Portal Naval notes that the vessel, the first in a series of ten,
Russian shipowner Sovcomflot has selected dual-fuel MAN 51/60DF engines for a series of LNG carriers under construction at STX Offshore & Shipbuilding in South Korea and consisting of two confirmed vessels with
Sembcorp Marine’s subsidiary Jurong Shipyard has secured a US$568 million contract to build a harsh-environment ultra-deepwater semi-submersible rig from North Atlantic Drilling Limited, a 74 percent owned subsidiary of Seadrill Limited. According
