Navy awards Bath Iron Works funding for DDG 122
APRIL 1, 2015 —The U.S. Navy has awarded funding for the construction of DDG 122, the FY 2015 Arleigh Burke-class destroyer under contract at General Dynamics Bath Iron Works. This $610.4 million
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People smugglers adopt callous new technique
JANUARY 2, 2015 — In two incidents within days of each other, people smugglers abandoned ship and left hundreds of refugees to their fates as the rust buckets into which they had
CIT finances LR1 product tanker acquisitions
NOVEMBER 3, 2014 — CIT Group Inc. (NYSE: CIT) reports that CIT Maritime Finance has provided $64 million in senior secured credit facilities to Tanker Solutions III, LLC, a joint venture between
GE and LR look for gas turbine commercial ship opportunities
JULY 23, 2014 — Could the move to LNG fueling present new opportunities for gas turbine powering of commercial ships? GE Marine and Lloyd’s Register report they have just signed a Memorandum
Total cost of piracy: $5.7 billion to $6.1 billion
APRIL 9, 2013 — Even though ransoms paid to Somali pirates fell to an estimated $31.75 million in 2012 – an 80.1 percent decline on the $159.62 million paid the previous year
New call to open up ferry services to Cuba
A company that is “ready and willing” to offer ferry service to Cuba is protesting the preferential treatment being given air carriers in carrying U.S. passengers to Cuba. At present no ferry
Somali pirates hijack Iranian owned bulker
Eu Navfor says that the 52,466 dwt bulk carrier MV Sinin is believed to have been hijacked approximately 350 nautical miles East of Masirah (Oman) in the North Arabian Sea. According to