Freight Rates To Fly High In Coming Years
The U.S. will become more dependent on tanker-borne petroleum imports in coming years, coinciding with a ship shortage which will push freight costs sharply higher…
Aker Opposes New Kvaerner Board
Aker Maritime opposes a proposed new board for Kvaerner, where Aker owns 17.8 percent. "Aker Maritime has asked Kvaerner's election committee to propose a competent…
Russian Nuclear Sub Towed Home
A Russian nuclear-powered submarine was towed to port this month after an apparently minor accident in the Barents Sea, where the Kursk sank last year with the loss of 118 lives…
Royal Caribbean Profits Halved
Royal Caribbean Cruises Ltd., the world's number two cruise operator, said that first quarter net profits halved amid an economic slowdown and that earnings were likely to stay weak in 2001.
General Dynamics To Buy Newport News Shipbuilding
General Dynamics Corp. said it would buy rival Newport News Shipbuilding Inc. for $2.1 billion in cash, creating the only U.S. builder of aircraft carriers and submarines for the U.S. Navy.
Nichols Brothers Delivers 39-Knot Cat
The transit between Long Beach and Catalina Island will be reduced to "well under" one hour when the "Jet Cat Express" joins the Catalina Express fleet. "This will take place before Memorial Day…
Kvaerner Profits Beat Estimates
Kvaerner beat market expectations with a jump in first-quarter profits, and the company reiterated opposition to a tie-up with Norwegian oil industry services rival Aker.
Greek Strike Promises Chaos
Greek transport unions promised chaos for travelers during Thursday's 24-hour general strike, with public transport in Athens forecast to grind to a halt and Olympic…
Panamax Rates Hold Strong
Freight rates for Panamaxes trading the Atlantic are holding strong but the Pacific market is now starting to weaken, shipbrokers said. "Prospects for May in the…
Morris Challenges Owners To Fight Slave Ships
A former Australian transport minister challenged oil tanker owners, who were meeting in Sydney on Tuesday, to join him in the fight against "slave-ships", which…
French Container Vessel Refloated
The CMA CGM Normandie, a French container vessel, has been refloated after hitting a reef in international waters in the Singapore Straits, Reuters reported. The…
Pacific Carriers Is Propositioned by Hovert Investments
Hovert Investments Pte Ltd, a unit of Kuok (Singapore) Ltd, has made an unconditional offer for the shares of shipping company Pacific Carriers Ltd. Hovert accumulated…
S&P Trims Stena's Credit Rating
Standard & Poor's lowered its long-term corporate credit rating on Sweden-based Stena AB to double-'B' from double-'B'-plus. The senior unsecured rating on Stena was also lowered…
Reagan Repowers 204-ft. Vehicle Ferry
With the repowering of the 204-ft. (73.1 m) double ended vehicle ferry, Cameron No. 2, Reagan Equipment Company's marine division has added ferries to its list of…
New Bunkering Firm Formed
A new Bunker Trading Company was established in Singapore in early April. called United Bunkering & Trading (Asia) Pte. Ltd., and is backed by a major European investor.
Ro-Clean Desmi Sets Record For Worlds Largest Oil Containment Boom
Ro-Clean Desmi A/S of Denmark has been officially awarded the Guinness World Record for developing the largest offshore oil containment boom in the world. Known…
ZNA’s J.J. Marie Inducted into French Legion of Honor
J.J. Marie, president and CEO of Zodiac of North America (ZNA), was inducted into he French Legion of Honor, holding the title Chevalier de la Legion d’Honneur.
Two Named to TCC Joint Planning Commission
The South Carolina Research Authority (SCRA), manager of the Navy’s Composites Manufacturing Technology Program and The Composites Consortium (TCC) announced the…
PIANC Accepting Entries for 2002 Award Competition
The International Navigation Association (PIANC) hosts an annual competition for the International Gustave Willems Award, which was established as a memorial to Professor Willems…
Detroit Diesel Recognizes Top Suppliers of 2000
Detroit Diesel Corporation (DDC) announced its top suppliers for the year 2000 as measured by its supply chain management program, Continuous Customer Value Improvement (CCVI).
