SS&Y's Atlantic Capesize Index Rises 532 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 532 points in the week ending Monday to 4,400. SS&Y officials reported that the index is now nearly 1…
SS&Y's Pacific Capesize Index Rises 912 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 912 points in the week ending Monday to 4,199. Problems with a dedicated vessel loading at Richards Bay for South Korea…
Caper Boom Not Over Yet
There were no signs that the recent caper boom was over yet despite last Tuesday's relatively modest gain on the Baltic Capesize Index of 31 points to 1,753, brokers said.
Worldwide, Regional Offshore Rig Counts Show Little Movement
Worldwide and regional offshore rig counts showed little change since last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S.
Large Tanker Fixing Slows, Rates Soften
Large tanker fixing out of the key Middle East market slowed last week as charterers had largely covered their October liftings, resulting in the softening of rates…
Princess Cruise Business Is Strong
Peninsular & Oriental Steam Navigation Co. said its Princess Cruises business performed strongly in the third quarter with occupancy reaching 103.8 percent from 101.7 percent a year earlier.
Bossier Retires, Kitchen Takes Avondale Helm
Litton Industries announced that Thomas M. "Tom" Kitchen, a member of the Litton Avondale Industries management team, has been named president of Avondale to succeed Albert Bossier…
Two Ships Illegally Carrying Iraqi Oil Products Diverted
Multinational forces have diverted two ships, allegedly carrying petroleum products illegally out of Iraq, to the United Arab Emirates, a U.S. navy official said. U.S.
IMO: Proposing Mandatory Traffic Control Compliance
The International Maritime Organization (IMO) last week proposed mandatory compliance by ship masters with orders from shore traffic controllers. The suggestion…
Major Overhaul Planned For Kenya's Mombasa Port
Kenya's ailing Mombasa port will undergo a radical overhaul to ensure its status as the shipping hub of East Africa, the new managing director of Kenya Ports Authority (KPA) said.
Greenpeace In Legal Battle With U.K. Over Oil Exploration
Environmentalist group Greenpeace took the U.K. government to court over what it sees as Britain's failure to protect coral beds, whales, dolphins and other marine…
R&B Falcon Drilling Receives Letter Of Intent
R&B Falcon Drilling has received a letter of intent from Petroleo Brasileiro S/A Petrobras for a two-year contract for the DP drillship Deepwater Frontier for operations…
WAPET Makes Gas Discovery
Western Australian Mines Minister Norman Moore announced last week that West Australian Petroleum Pty Ltd (WAPET) had made a significant gas discovery in its deepwater…
OPEC Heads Plan Summit To Discuss Oil Market
Senior oil ministry officials from OPEC's 11 member states will meet Nov. 17 in Vienna to prepare a rare summit of the cartel's heads of state and discuss the oil market outlook…
Canoe Crew Glimpses Easter Island
The crew of a replica of an ancient Hawaiian canoe reached their final destination - Easter Island - traveling some 15,000 miles (24,000 km) and using only the stars and weather patterns to navigate.
USCG Seeks Comments on Liquid HazMat Regulations
The USCG is seeking feedback on its revision of 46 CFR part 151, the regulations for barges carrying bulk liquid hazardous materials. A starting point is a package…
Transportation Bill Passes Senate
The Senate passed the Department of Transportation appropriations bill, which includes funding for the USCG. The bill, passed in June by the House, had been held…
Report Confirms Increased Assessments on Maritime Industry
U.S. ports got confirmation at its Annual Convention meeting from a just-released General Accounting Office (GAO) Report that both the number and the dollar amount…
NOAA Presents Excellence Awards
The National Oceanic and Atmospheric Administration has announced this year's recipients of the Walter B. Jones Memorial and NOAA Excellence Awards for Coastal and Ocean Resource Management.
Chang, Bray To Receive 1999 Connie Awards
The 1999 Containerization & Intermodal Institute's Connie Awards will be presented to Evergreen Group Chairman Dr. Yung-fa Chang and J. Robert Bray, Executive Director of the Virginia Port Authority.