Dr. Kishore Rajvanshy is stepping down after three decades as managing director of Fleet Management Limited (FLEET), currently the world’s largest third-party ship management company.FLEET announced it has begun implementing a phased succession plan as Rajvanshy transitions from his current role, with a global search for a new managing director underway.
Norwegian Cruise Line Holdings on Monday raised its full-year profit forecast for a second time in less than three weeks, betting on record demand for cruise vacations and higher ticket prices, sending its shares up as much as 7.7%.More travelers are choosing sea-based vacations that offer a range of fun activities under one roof, compared to expensive land-based holidays
Fincantieri has received a highly significant order from Norwegian Cruise Line Holdings for the construction of four new next-generation cruise ships.The order entails the construction of two cruise ships for the Regent Seven Seas Cruises and two for the Oceania Cruises brands respectively.
Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.
Seafarers International Union President Emeritus Michael Sacco died December 28, 2023, in St. Louis, surrounded by family members. He was 86 years old and passed away from natural causes.Mike was the longest-serving president in SIU history, having led the organization from 1988 until his retirement in February 2023, a period spanning nearly 35 years.
Royal Caribbean Group is removing Israel from its 2024 itineraries due to the Israel-Hamas war, according to an email sent to travel agents on Thursday seen by Reuters, making it the second major U.S. cruise operator to alter its plans over the conflict.The Miami, Florida-based cruise operator is modifying itineraries as late as October 2024 for its Royal Caribbean International unit that stops
In the United States, marine transportation is responsible for $361 billion, or 1.7% of the U.S. Gross Domestic Product (GDP). Marine transportation, a key part of global logistics and responsible for 40% of international trade, goods and services, is the backbone of U.S. trade. In the U.S. in 2021 alone, ships have transported more than 1.5 billion tons of cargo valued at more than $1.
The U.S. Army Corps of Engineers (USACE) is snapping back from the doldrums of COVID-19, wrapping up a strong first half of 2023 with a slew of awarded dredging work.“The federal government is no different from state and local governments, nor the private sector when it comes to COVID-19 work related recovery and USACE is not an exception,” said William P.
The smart phone “Bollard Pull Calculator” app produced by Captain M. Baykal Yaylali some four years ago has now been updated and expanded in function.The required tug power and number of tugs needed in variable wind and current currents is typically an assessment made by pilots based on their professional experience.
Austal USA, a U.S. shipbuilding subsidiary of Australia's Austal Group, announced it has named Mark Santamaria as its new chief financial officer (CFO).“Mark’s extensive background in government and commercial contracting environments is a valuable asset to Austal USA,” stated Austal USA president Michelle Kruger.
Colonna's Shipyard said Wednesday that its President & CEO, Tom Godfrey, would retire effective December 31, 2023. Randall Crutchfield has been named to replace Godfrey as the company’s Chief Executive Officer (CEO). Crutchfield is currently Executive Vice President & Chief Operating Officer (COO).
The Dutra Group, based in San Rafael, Calif., has been awarded a contract to perform maintenance dredging in Brooklyn, N.Y.The $9,639,000 firm-fixed-price contract was awarded by the U.S. Army Corps of Engineers New York District. Dutra was one of four bidders for the project.The project includes maintenance dredging of Red Hook Flats Anchorage