Won Depreciation To Raise Daewoo's Operating Profit by 43 Percent
The head of South Korea's Daewoo Shipbuilding said on Friday the won's depreciation would raise the company's operating profit by about 43 percent from its earlier target.
Stelmar To Resume Discussions With First International
Tanker operator Stelmar Shipping said it was ready to revive talks with Bermuda-based First International to buy six petroleum tankers once the latter is free of an ownership dispute.
Brokers Declare Rate Cuts In Caribbean Upcoast A
Shipping's most volatile market, the Caribbean upcoast trade, has seen rates cut in half over the last two weeks - a "bloodbath", according to Oslo broker Fearnleys.
Friede Goldman Halter To Get $100 Million Financing
Friede Goldman Halter announced that it and several of its affiliates have signed a letter of intent with Pegasus Partners II and affiliated entities for Pegasus…
Celebrity's Millennium Undergoes Electrical Repairs
Celebrity Cruise Lines' Millennium arrived at Newport News Shipbuilding on Tuesday for a 10-day period of work. The 91,000-ton vessel, which measures 965 x 106 ft.
EU Countries Seek Higher Compensation For Oil Spills
European Union countries are to push for higher compensation levels to cover oil tanker accidents, diplomats at a transport ministers' meeting said on Thursday.
Friede Goldman Halter Says No Chapter 11
Friede Goldman Halter Inc., said on Wednesday it had not filed for bankruptcy protection and was seeking alternatives. The company's shares plummeted on Tuesday…
Russian Navy Denies Kursk Weapons Allegations
The Russian navy dismissed on Thursday a report that the Kursk submarine was carrying nuclear weapons when it plunged to the sea floor last August, killing all 118 sailors on board.
Royal Caribbean Retracts Reports of Option Extensions
Royal Caribbean, said on Wednesday that there have not been further developments on its options to build two new 2,100-passenger ships following its December announcement…
Bids Received for Latvian Shipping Privatization
The Latvian Privatization Agency said on Thursday it had received two bids for the government's 68 percent stake in Latvian Shipping, one of the world's largest oil products transporters.
Elizabeth Dole To Serve as Carnival Spirit's Godmother
Elizabeth Dole will serve as godmother to Carnival Cruise Lines' new Carnival Spirit, the first in a new series of 88,500-ton vessels for the line. Mrs. Dole will…
BP Marine and Houston Marine Team Up On Bunkering Venture
BP Marine and Houston Marine Services (HMS) are joining forces to begin a new chapter in ship bunkering in the western U.S. Gulf. Effective, April 2, HMS became…
Oceaneering Receives Letter of Intent for FPSO
Oceaneering Intl. has been granted a letter of intent from Angola Drilling Company (ADC) to charter the FPSO Ocean Producer for a period of seven years to produce…
Friede Goldman Shares Drop 63 Percent on Bankruptcy Fears
Shares of Friede Goldman Halter, which manufactures offshore equipment for the energy industry, plummeted on Tuesday after the company said it may have to seek bankruptcy…
Panamax Market May Get Jump Start From Active Atlantic
The panamax market may see a boost from increased activity in the Atlantic and more business coming from South America, brokers said on Wednesday. Prospects for…
Search For Survivors of Fishing Vessel Disaster Continues
The search for crewmen missing in what is believed to be Alaska's worst fishing disaster was hampered by bad weather and poor visibility in the Bering Sea on Tuesday, the U.S. Coast Guard said.
Court To Decide Fate of Product Tanker Fleet
A dispute has erupted in New York courts over control of a fleet of petroleum product tankers, currently working for oil major Shell. Both the owner of the ships…
Royal Caribbean Is Granted Extension on Two Ship Option
Royal Caribbean is pushing back to late June final decisions on building two new 2,100-passenger ships costing about $500 million each. The move by Royal Caribbean…
Baltic Nations to Focus on Maritime Safety
Germany called on Wednesday for nations bordering the Baltic Sea to boost maritime safety to avoid accidents such as last week's tanker collision, which led to an oil spill off the Danish coast.
Striking Workers Threaten Violence At Port of Santos
A threat of further violence from striking workers at Santos, Latin America's biggest port, kept police on alert and hampered movements of goods on Wednesday, the port authority said.
