Panama Canal plans toll increases
The Panama Canal Authority (ACP) Board of Directors has approved a proposal to modify the Panama Canal pricing structure “to align Canal toll charges with the value the route provides.” The proposal
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Wärtsilä reports increase in order intake
“The year has started rather well with order intake increasing by 13 percent,” says Wärtsilä Corporation President and CEO Björn Rosengren, commenting on the company’s first quarter performance. “Our profitability was 10.1
Contract signed for first Chinese-built engine of MAN B&W G80 design
A ceremony at the CSSC-MES Diesel Co., Ltd. (CMD), Shangai, saw the signing of the contract to construct the first Chinese-built MAN B&W design Green Series 7G80ME-C9.2 engine. Due for delivery in
Horizon Lines converts debt to stock and reaches deal with Ship Finance to terminate charters
Horizon Lines, Inc. (OTCQB: HRZL) says that it has completed transactions with more than 99 percent of its noteholders, and with Ship Finance International Limited, to substantially deleverage the company’s balance sheet
Richardson Devine launches 35 m catamaran workboat
Australia’s Richardson Devine Marine has launched Outer Limit, a 35 m Incat Crowther catamaran work boat. It is the third vessel from Richardson Devine and Incat Crowther for operator Offshore Unlimited, following
Wärtsilä X35 engine passes Factory Acceptance Tests
Wärtsilä’s new electronically controlled low speed engine, the Wärtsilä X35, has successfully passed its Factory Acceptance Tests (FAT). The tests of the two engines took place last month at both the 3.MAJ
FastShip files for Chapter 11 bankruptcy protection
It was to have been a highspeed containership with a semi-planing hull, gas turbine power and waterjets linking Philadelphia and Cherbourg, France. At one time, there were hopes it could have been
Hapag-Lloyd reports $38 million loss for 2011
Container shipping giant Hapag-Lloyd turned in a net loss of €28.8 million (about $38 million) in 2011. According to the consolidated financial statements approved today by the Supervisory Board, Hapag-Lloyd increased its
UK Club bulletin warns on dangers of pressing up ballast tanks
The UK P&I Club has issued a loss prevention bulletin on the dangers of pressing up ballast tanks. In a recent case, says the bulletin, an entered vessel pressed up its ballast
Sinopacific Shipbuilding and MHI to jointly develop fuel-efficient bulker
Mitsubishi Heavy Industries, Ltd. (MHI) has signed a joint-development agreement with Sinopacific Shipbuilding Group Co., Ltd. of China under which MHI will provide technological support to Sinopacific in the area of commercial