Rolls-Royce Awarded $89 Million MissionCare™ Contract

Rolls-Royce, the global power systems company, has been awarded an $89 million MissionCare™ contract by the U.S. Department of Defense Naval Air Systems Command at Patuxent River to provide support for the F405 (Adour) engines that power the U.S. Navy’s T-45 training aircraft.

NFC Ferries Set New Records with Austal Built Ferry

With its Australian-built high speed ferry Hormuz having already increased the record for the world’s fastest diesel powered vehicle passenger ferry, setting a target of 56.3 knots on November 19, 2010, the National Ferries Company of Oman has now confirmed that her sister vessel Shinas has broken that record by achieving a speed of 56.6…

Tsakos Energy Navigation Awarded Two 15-Year Contracts

Tsakos Energy Navigation Ltd. (“TEN”) (NYSE:TNP – News) or (the “Company”) today announced two 15-year time charters with a national oil major for two DP2 Suezmax shuttle tankers with delivery within 2012. These charters are expected to generate revenues of at least $520 million over their corresponding periods.

DSME Bags Chevron Platform

South Korea’s Daewoo Shipbuilding and Marine Engineering, the world’s second-largest shipbuilder, said on Thursday it had won a $1.3bn deal from Chevron Corp to build an offshore platform which will be deployed in Australia. Daewoo said in a statement that the platform will be delivered in 2014. It has been a fantastic fortnight for Korea’s…

Box Ship Charter Rates Fall

Charter rates for container ships have been declining during the seasonally slow fourth quarter, particularly as uncertainty surrounds carriers over cargo volumes and freight rates heading into the new year. A report by The Journal of Commerce said that the market for gearless Panamax vessels of 3,500 TEU capacity has experienced the sharpest fall, with…

CSAV Orders at Samsung

Chilean liner CSAV has taken a two plus two option deal at Korea’s Samsung Heavy Industries. The South American firm is paying $90m per 8,000 teu ship. The two firm orders are due for delivery in June and July of 2012.

Wärtsilä Joins Global Sustainable Shipping Initiative, SSI

Wärtsilä, the marine industry’s leading solutions provider, has joined the Sustainable Shipping Initiative (SSI), a programme initiated by Forum for the Future. The initiative brings together the industry’s leading organizations to show what can – and must – be done for shipping to contribute to, and benefit from, a sustainable future.