Hyundai Close To Losing Multi Ship Order
State-owned Latvian Shipping said that a $168 to $210 million order for new tankers was under threat as a result of conditions on the deal set by Latvia's privatization agency.
Jurong, Keppel Hook Up Still Possible
Keppel Corp's outgoing chairman Sim Kee Boon said he did not rule out the merger of the Jurong and Keppel shipyards in the future. "It is quite possible. I will not rule it out.
Finnish State To Join Bidding For Masa-Yards
The Finnish state plans to join the bidding for Masa-Yards, the Finnish shipyards of Anglo-Norwegian engineering firm Kvaerner, according to news reports. Officials…
Mitsui To Post Special Loss of $126M
Mitsui Engineering & Shipbuilding Co. Ltd. will post a special loss of $126 million in the first half of 1999-2000 due to restructuring costs. At the same time,…
Spain Contests Decision On Shipyard Aid
The Spanish government said last week that it would appeal a European Commission decision ordering Spain's state-owned shipyards to repay with interest $118 million in state aid.
Stratos Wins Protest of Five-Year Contract
The U.S. Court of Federal Claims in Washington, D.C. has granted the Stratos protest of a five-year U.S. Navy SPAWAR (Space and Naval Warfare) Inmarsat lease contract award to Comsat.
Supreme Court Rules Titanic Still Viewable
The Supreme Court refused to reopen a case last week from a Virginia appeals court allowing adventure-tour operators to conduct deep-sea excursions to the wreck of Titanic.
FONASBA calls for clarity
The Federation of National Associations of Ship Brokers and Agents (FONASBA) has called for more clarity in ship agents' rate structures. Speaking at the federation's…
Phillips Mulls Disposals
Phillips Petroleum officials said last week that the company favors a $1.14 billion plan to dispose of 15 oil and gas installations at the Ekofisk field in the Norwegian North Sea.
Booze Cruises Still Booming
Despite doom and gloom forecasts from ferry operators, the abolition of duty free sales has not slowed the demand for ferry day-trippers. Four months after the European…
Millennium Class Tanker Christened
ARCO Marine, Inc. unveiled its first state-of-the-art Millennium Class tanker at a christening ceremony at Litton Avondale Industries in metro New Orleans. The 125…
New Crabber Heads for Grounds
On the Bering Sea king crab fishery, explains deckhand Jerod Goodin, "There are six in the deck crew. Each of us will work 15 hours on and then take a three hour break.
Spanish Fishermen Given OK To Sue British Government
Spanish fishermen who say they were unlawfully barred from British waters won permission from Britain's highest court last week to sue the government in a claim which could top $160 million.
Cameroon Still Seen As Most Corrupt Nation
West Africa's Cameroon retained the dubious honor of being viewed as the country most likely to take bribes in 1999 while Denmark remained squeaky clean, according to an independent report.
Latvia Shipping Asks Hyundai To Extend Tanker Deal
State-owned Latvian Shipping has asked South Korean Hyundai Heavy Industries to extend the deadline for signing a $200 million tanker order because of political delays.
FGI And Halter Merger Activities On Schedule
Friede Goldman International stated that its activities related to its pending merger with Halter Marine Group were progressing on schedule. The company has received…
Kyriakoulis Shows Interest In Stardust Marine
Yacht operator Kyriakoulis has officially expressed its interest in acquiring France-based Stardust Marine SA, which operates 275 yachts and 16 marinas around the world.
Osprey Maritime Gets Extension
Oil and gas shipping firm Osprey Maritime's bankers have agreed to an extension through the third quarter of 2002 of $362 million in short term loans. The facilities…
S&P Lowers Pegasus Rating
Standard & Poor's lowered its corporate credit rating on Pegasus Shipping (Hellas) Ltd. (Pegasus) to triple-'C'-minus from single-'B'-minus. At the same time, Standard…
Chuan Hup To Buy 20 New Barges & Tugs
Marine shipping company Chuan Hup Holdings expects a contract to ship coal to Indonesia to contribute to group earnings in 2001, the group's finance director, Lim Kwee Siah…