AP Moeller Shares Fly High In '99
Danish shipping and oil group A.P. Moeller shares surged 95 percent in 1999, bolstered by a 150 percent rise in crude oil prices and improved freight rates, and…
St. Lawrence Seaway Closed Until Spring
The St. Lawrence Seaway is officially closed to navigation until spring. The last vessel to pass through the Seaway was the chemical tanker Petrolia Desgagnes, which made its way through the St.
$160 Million Earmarked For New Ships
Nigeria Liquefied Natural Gas (LNG) said its transport subsidiary had secured a $160 million loan for two new ships from banks led by Credit Suisse First Boston.
Finnegan Joins Drew Marine As Manager
The Drew Marine Division of Ashland Specialty Chemical Company has elected John C. "Jack" Finnegan as manager of new business development. Finnegan, who comes to…
Drew Marine Realigns Management Team
In order to enhance its efficiency and coordination in response to shipowners' growing requirements for global supply, the Drew Marine Division of Ashland Specialty…
Carnival Passengers Protest After Millennium Cruise Problems
About 200 passengers on a millennium cruise to the Caribbean protested at dockside in Nassau on Tuesday, complaining that engine problems on the Carnival cruise…
Commodore Holdings Reports 14% Earnings Increase
Commodore Holdings, Ltd. reported a 14 percent increase in earnings for its fiscal year ending Sept. 30, 1999. Earnings for full year 1999 were $4,606,000, as compared to $4,023,170 in full year 1998.
Oil Prices Rally On Tight Supplies
Crude oil prices bolted higher Monday as traders returned from a long holiday weekend to indications that exporting countries may extend the supply cuts that have…
Jinzhou Adds Bulk Cargo Berths
Jinzhou Harbour Co. has completed construction of two bulk cargo berths at the northeastern port of Jinzhou at a cost of $41.26 million. A 35,000-ton berth with an annual throughput capacity of 600…
Fees To Be Lowered For HK Ships Calling In China
Hong Kong-registered ships will reportedly pay lower port charges when they call at ports in mainland China starting Jan. 28, officials said. The cuts in charges will vary according to type of vessel.
New Port Tunnel Will Ease Dublin Congestion
The Irish government approved a $262 million tunnel-building scheme designed to divert port traffic away from the traffic-choked center of Dublin. The tunnel will…
Daewoo Wins $483M In Ship Orders
Daewoo Heavy Industries won $483 million in ship orders last week from companies in the U.S. and Greece. It will build four ultra large crude oil carriers for Majestic Shipping Co.
Restoration Settlement Reached for the North Cape Oil Spill
The owner, operator and insurer of the vessel North Cape have agreed to restock 1.24 million lobsters and pay $8 million to restore other natural resources injured…
Canadian Pacific to Acquire TMM's Shareholding in Americana Ships
Canadian Pacific Limited has agreed to acquire the outstanding 50% of the Americana Ships joint venture from its partner, Transportacion Maritima Mexicana SA de CV of Mexico.
Four Ferries Taken From Service
China's southern province of Hainan has withdrawn four ferries with sub-standard equipment from service after 280 people died in a shipwreck last month. The move…
Carnival Victory Floated Out In Italy
Carnival Cruise Lines new 102,000-gt cruise ship Carnival Victory was floated out of the shipyard last Wednesday at shipbuilder Fincantieri Cantieri Navali. The ship is 272 m long and has 1…
Malta Docks To Bid For U.S. Navy Work
Malta Drydocks last week signed an agreement with the United States Navy enabling it to bid for ship repair work on U.S. vessels but the opposition Labor Party said…
Austal To Establish American Operation
Australian shipbuilder, Austal, the world's largest builder of high speed ferries, signed a joint venture agreement to establish an American shipbuilding presence - Austal USA.
U.S. Builders Make Waves At Year End
While consolidations and closures continue to reshape the ship and boatbuilding industry worldwide, 1999 ended on some positive notes, particularly for ship and…
U.S. Builders Make Waves At Year End
While consolidations and closures continue to reshape the ship and boatbuilding industry worldwide, 1999 ended on some positive notes, particularly for ship and…