Norwegian Cruise Line Holdings Ltd’s $3.5 billion in cash on hand will be enough to bankroll the company for “at least 18 months” without any new revenue due to the coronavirus pandemic that has halted voyages, Chief Executive Frank Del Rio said on Thursday.“That’s enough to cover our cash burn under a zero-revenue environment for at least 18 months, not 12, 18 months
Norwegian Cruise Line Holdings Ltd, the world’s third-largest cruise operator, raised doubts about its ability to continue operating on Tuesday, the first in the sector to signal it may succumb to the coronavirus crisis.The company’s shares closed down more than 20% as it launched a $1.
Iran will destroy U.S. warships if its security is threatened in the Gulf, the head of Iran's elite Revolutionary Guards told state TV on Thursday, a day after U.S. President Donald Trump warned Tehran over "harassment" of U.S. vessels."I have ordered our naval forces to destroy any American terrorist force in the Persian Gulf that threatens security of Iran's military or non-military ships
In an open letter posted on the MSC website, MSC Group President & CEO Diego Aponte offered public comment and perspective on the COVID-19 situation for MSC's cargo business. “The spread of COVID-19 has created a public health issue unprecedented in our lifetimes, triggering an unexpected shock for societies and economies,” said Aponte.
The 2020 Offshore Technology Conference (OTC) has been canceled due to the coronavirus pandemic."While OTC’s purpose is to provide an opportunity for those in the offshore petroleum industry from around the world to meet and share knowledge, our first priority is to the health and safety of our attendees and exhibitors.
Greensea introduces a new hull crawler that easily attaches a Remotely Operated Vehicle (ROV) to a ship hull without magnetics, allowing the operator to “drive” the ROV and payloads over the hull. Initial hull crawlers are designed to work exclusively with the VideoRay Mission Specialist Defender ROV.
A real estate development company is looking for a U.S. city to become the new home for one of America's most historic ocean liners.Having reached a deal with the ship’s nonprofit owner last year, RXR Realty has been developing a plan to restore the famed SS United States and this week issued a Request for Expressions of Interest (RFEI) seeking a permanent waterfront location where America’s
Coronavirus test kits were delivered at sea on Thursday to an ocean liner barred from returning to port in San Francisco after at least 35 people developed flu-like symptoms aboard the vessel, which has been linked to two other confirmed cases of COVID-19.The diagnostic sampling kits were flown by helicopter to the cruise ship Grand Princess
Shares of U.S. cruise operators sunk on Thursday after the Grand Princess ocean liner, owned by Carnival Corp, was barred from returning to its home portof San Francisco on coronavirus fears after at least 20 people aboard fell ill.Shares of Carnival, Norwegian Cruise Line Holdings and Royal Caribbean Cruises fell between 9% and 12% amid a broader sell-off in U.S. stock markets.
China Merchants Heavy Industry has delivered an expedition cruise vessel to SunStone Ships, the first of its next-genn INFINITY-class vessel and perhaps more significantly China's firm entrance into the cruise ship building sector.The arrangement to bring this ship from drawing board to delivery slip is the culmination of marrying European cruise design and quality with Chinese ship-building
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30
The creditors of indebted French marine services company Bourbon reached a restructuring deal that would give them control of the company, protect jobs and draw new liquidity.Bourbon has been hurt by market overcapacity and a fall in spending on services by upstream oil and gas companies, but the deal with its creditors lifted its shares.