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Carnival To Swap Ships

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 Gains on Stake Purchase in Aker Yards

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


Cunard Narrows Field For Queen Mary Builder

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

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.


Korea's HHI Shows Diverse LNG Carrier Models at Gastech

File photo CCL£

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


Biggies to Rule Ocean, says Maersk CEO

Nils Andersen. Photo: Maersk Line

 The WSJ reports that the Danish container-shipping group is ordering more megaships even as freight rates remain low. Reason?   The world’s biggest container-shipping companies are set to dominate seaborne trade over the next few years, leaving little space for small and midsize operators to compete.   This opinion was expressed by A.P. Møller-Mærsk A/S Chief Executive Nils Andersen.  


World's Biggest Floating Diamond Processing Vessel Sets Sail

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


Hutchison Buy Follows Maersk Deal

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.


Dubai's DP World Eyes Dollar Bond

DP World, one of the world's biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and $1 billion from the bond, depending on investor appetite and the interest rate the company would have to pay to borrow the money, two of the sources said


Maersk Orders Advisory Software for 140 Ships

Photo: Maersk Line

ABB and Dutch weather forecasting specialist MeteoGroup have won an order to outfit 140 Maersk container vessels with software to optimize routes   Power and automation group ABB informs it is working with MeteoGroup to equip 140 containerships from Maersk Line with advisory software to optimize routes, boost maritime safety and protect cargo based on factors including the hull design and the weather; helping the shipping line avoid conditions that could be harmful to the ship


Saudi Arabia to Raise Military Spending

Saudi Arabia, at war in Yemen and competing for regional influence with arch-rival Iran, projects a 6.7 percent rise in defence spending in 2017 to 191 billion riyals ($50.8 billion), according to official budget figures released on Thursday.  


Long Beach Approves MSC's Bid for Hanjin Terminal

Photo: Port of Long Beach

The Port of Long Beach’s Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal. The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co


JERA Imports Japan's First Liquefied Shale Gas Cargo from U.S.

File Image: an LNG carrier (CREDIT: Parker Bestobell)

Japan's JERA Co said on Friday it imported the country's first liquefied shale gas cargo from the United States as part of efforts to diversify its supply.   This also marks Japan's first import of liquefied natural gas (LNG) produced in the contiguous United States


Iron Ore Exports to China from Port Hedland hit record

File Image: a so-called ValeMax bulk carrier (CREDIT: Vale)

Port is world's biggest iron ore export terminal; iron ore prices soared 80 pct in 2016.   December iron ore shipments to China from Australia's Port Hedland terminal hit a record 37.4 million tonnes in December, boosted as users such as BHP Billiton and Fortescue Metals Group ramped up


Maersk Box Unit Records Q3 Loss

File image (Credit: port of Savannah)

A.P. Moller-Maersk , the world's biggest shipping firm, said the container business on which it is staking its future made a loss in the third quarter of the year as freight rates declined further.   Shares in the Danish company fell as much as 9 percent after profit in the three months to


Ulstein Enters the Yacht Market

Photo: Ulstein Verft

The Ulstein Group has secured an order to build its first vessel within the yacht segment: Ulstein Verft has signed a contract to build a yacht for a private owner, one of the world’s biggest ship owners.    "The customer wants the characteristic X-BOW from ULSTEIN


Ships More at Risk After First Somali Pirate Attack in Years

File photo: Euronav

Merchant vessels sailing through busy shipping lanes between Somalia and Yemen may be underestimating the risk of piracy and terrorism following two attempted attacks last month, maritime officials say. More than 40 percent of the world's seaborne oil supplies pass through the Gulf of Aden and


Japan Starts Probe of LNG Shipping Restrictions

File Image (CREDIT: Parker Bestobell)

Japan's Fair Trade Commission (JFTC) has ordered the country's liquefied natural gas (LNG) buyers to provide details on contract requirements that prevent them from reselling the fuel to third parties, according to a source with direct knowledge of the inquiry.


Subsidy-Reliant Offshore Wind Takes Cue from Big Oil

File Image (CREDIT: Siemens)

From a helicopter, it looks like just another North Sea oil rig, a grey cube supported by massive yellow pillars, 90 kilometres (56 miles) off western Denmark. But the DanTysk facility is the world's first accommodation platform for offshore wind


$1.9 bln Shipping Rescue Package in Taiwan

Photo: Evergreen Marine Corp

 Taiwanese government said it will provide 60 billion New Taiwan dollars ($1.9 billion) to support the country’s shipping industry, according to Reuters.   The package, announced late Tuesday, involves a credit line with preferential interest rates aimed mainly to help Evergreen


JERA Buys First-ever U.S. LNG Cargo

File Image: LNG carrier underway (Credit: Parker Bestobell)

Japan's JERA Co, the world's biggest importer of liquefied natural gas (LNG), on Thursday said it made its first-ever purchase of LNG from the lower 48 U.S. states, as part of its goal to diversify supplies. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power


Maersk to Lower CapEx, Consider Dividend Cuts to Retain Credit Rating

File Image (Maersk)

The world's biggest container shipper A.P. Moller-Maersk may consider selling assets or cutting dividends as it seeks to retain its credit rating, the company said on Tuesday. Maersk's Baa1 credit rating was put under review for a downgrade by Moody's in September


Hyundai Heavy Focuses on Technology-Centered Management Innovation

Lee Jae-myung (left) and Kang Hwan-goo are holding the signed MOU. Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, announced today it will accelerate technology-centered management innovation with the establishment of Integrated HHI Group R&D Center and the creation of Technology/ICT Strategy and Planning team.  


Moody's Downgrades Maersk's Credit Rating

File photo: Maersk Line

Moody's downgraded A.P. Moller-Maersk's credit rating on Tuesday, piling pressure on the world's biggest container shipper as it juggles a major restructuring with a multi-billion dollar acquisition of a German rival.   Moody's said the downgrade from Baa1 to Baa2 with a negative outlook


Scandlines’ Deploys New Ferry

New ferries on the Rostock-Gedser route Photo Scandlines

On Wednesday 21 December 2016, Scandlines’ second new hybrid ferry for the Rostock-Gedser route, M/V Copenhagen, will carry passengers for the first time when it departs from Gedser towards Rostock at 09:00. Scandlines new hybrid ferry was registered 19 December 2016 and departed the same






 
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