Carnival Corp., which is working to revive profitability at its Seabourn luxury cruise line, said that next year it will shift a ship now sailing for Seabourn to the company's Holland America Line. The Seabourn Sun, at 38,000 tons the largest of the six Seabourn ships, will move to Holland America in April 2002 after the vessel finishes an around-the-world tour. Carnival, the world's biggest cruise group with 44 ships among its half a dozen lines, last month changed top managers at its jointly run Seabourn and Cunard lines.
STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners
Reports indicate that Cunard will likely sign the deal to build the world’s largest and most costly cruise ship this week, and it is believed that either France’s Chantiers de l’Atlantique or Northern Ireland’s Harland and Wolff will be beneficiary of the contract to build the ship, which has been estimated at $600 million. Five European shipyards have been in the running for the massive Queen Mary 2. The cruise industry is convening in Miami this week at the annual Seatrade Cruise Shipping
Cruise Lines Face Y2K Supplier Squalls The world's biggest cruise lines have safeguarded their own computers against Year 2000 glitches, but still face possible electronic squalls arising at food vendors and other suppliers. Carnival, Royal Caribbean and other major cruise lines operating out of North America are stopping short of declaring full victory over possible Y2K disruptions, due to worry about outside vendors, officials said.
The world's biggest floating diamond processing vessel will set sail for the first time within three weeks and should be in position off Namibia before Christmas, the Namibian Minerals Corporation (NAMCO) said. "This is the biggest offshore diamond processing plant in the world," NAMCO chairman Alastair Holberton told reporters on a tour of the ship in Cape Town harbor. "We expect that in its first work up year in operation it will harvest 200,000 carats of diamonds worth about $30 million
Hyundai Heavy Industries (HHI), claimed to be the world’s biggest shipbuilder, and the only one in Korea capable of constructing both Membrane type and Moss type LNG carriers, informs it will exhibit at the upcoming Gastech 2014 show in Gyeonggi Province, South Korea. The shipbuilder says it has taken the lead in introducing cutting-edge LNG-related ships, and developing independent LNG storage system and technology
Chevron Corp. and Exxon Mobil lost an auction for Nigeria's most promising oil and gas fields last year to companies controlled by South Korea. In Venezuela, Royal Dutch Shell's bid to develop an offshore gas deposit collapsed when Brazil's state oil company stepped in. The world's biggest publicly traded oil producers are losing reserves to state-run companies willing to pay higher prices for energy needed to fuel growing economies. Petroleo Brasileiro SA, China's Cnooc Ltd
Hutchison Port, a unit of conglomerate Hutchison announced earlier on Wednesday a 30 percent investment in Westport Holdings, a multi-purpose terminal in Malaysia's biggest port, Port Klang. Hutchison, controlled by Hong Kong tycoon Li Ka-shing, said in a statement that the deal would allow it to participate in Malaysia's economy. It gave no other details of the deal. Malaysia has 15 ports including Port Klang, on the west coast of Malaysia, which is the nation's main port.
An online shipping exchange being set up by two of the world's biggest oil firms, a leading agrifood multinational and top shipbroker will transform the way traditional shipping markets work, industry experts said. The company, LevelSeas.com, being set up by oil majors BP Amoco and Shell International Trading and Shipping with food processor and distributor Cargill and shipbroker Clarksons, will potentially control 10 percent of bulk commodity movements right from the beginning.
Sixteen workers were killed after a coal mine collapsed in China's far western region of Xinjiang, the official Xinhua news agency reported on Saturday, highlighting the poor safety standards in the world's biggest coal producing country. The accident occurred in the regional capital of Urumqi on Friday night when 33 workers were underground, the report said citing local officials. Eleven workers were injured and six escaped, it added.
Monthly oil output in Russia, the world's biggest producer, was flat in October, according to energy ministry data published on Sunday. Russia pumped an average 10.6 million barrels per day (bpd)last month, producing a monthly total of 44.838 million tonnes.
China has issued further guidance to support and modernize its shipping industry, saying it would encourage mergers and private investment as well as develop its cruise industry. The world's biggest trading nation is focusing on the shipping industry as it grows more assertive over territorial
Shipping companies and bunker oil traders scrambled to source fuel and take over supply contracts on Thursday after OW Bunker, one of the world's biggest shipping fuel firms, said it faces possible bankruptcy after uncovering internal fraud.
Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out
The U.S. Commerce Department has taken a small step toward resolving some two-dozen pending requests to export lightly processed oil this summer, asking energy companies to fill out a one-page questionnaire about their plans, sources familiar with the document told Reuters.
Glencore approached Rio Tinto about a merger in July. A tie-up would have created the world's biggest miner. No further talks with Glencore after rejecting bid-Rio. Rio Tinto rejected a merger approach from smaller rival Glencore Plc to create a $160 billion mining and trading giant in August
Denmark's A.P. Moller-Maersk said on Thursday its shipping alliance with MSC Mediterranean Shipping Co would begin operations in January next year after receiving approval from U.S. regulators. "The U.S. was the only remaining jurisdiction where the parties had to obtain formal approval
Container freight rates fell 10.2 percent on busy route; Maersk expects gradually declining rates. Freight rates for shipping containers from ports in Asia to Northern Europe fell 10.2 percent to $738 per 20-foot container (TEU) in the week ended on Friday
The European Commission proposed a ban on imports of fish from Sri Lanka for not tackling illegal fishing properly and lifted a ban on fish imports from Belize following the reform of its vessel inspection practices. The Commission on Tuesday also lifted warnings on Fiji, Panama
Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as
DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility. The ‘APL Phoenix’ was welcomed by DP World Chairman
Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers, although the industry is warning of a short-term sales dip.
UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and
More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope would create jobs and boost national security, a spokesman for one of the companies and a lobbyist for another one said on Friday.
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.