Kvaerner To Sell Shipyards, Maritime Unit
Kvaerner Plc has agreed to sell its maritime and technology unit Kvaerner Maritime for $15.9 million in cash. Separately, the group will also sell its Fjellstrand…
SembCorp Sees Profits Rise, Eyes Business Abroad
Shipyard operator SembCorp Marine Ltd. posted a 9.6 percent rise in 1999 net profit to $46.5 million and expects to maintain profitability this year. SembCorp, which…
Freight Rate Hikes Benefit South Korean Shipping Firms
South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said.
Insurers Should Control Ship Classification System: Broker
Insurers should control the ship safety classification process in the light of weaknesses exposed by the Erika’s loss, a senior tanker broker said. Insurance companies…
RINA Testifies In International Erika Probe
Officials of Italian ship safety inspector RINA, which approved the tanker Erika as safe before it sank off France in December, testified to an international inquiry into the disaster…