June, 1999 Maritime News

Newport News to Record Second Quarter Gains

Jun 29, 1999

Newport News Shipbuilding Inc. reportedly increased its second quarter earnings estimates by about 40 cents per share on stronger margins in its core business and

Duty Free Ends in Europe, but Tax Differences Remain

Jun 29, 1999

Duty free shopping in Europe dies at midnight on June 30, heralding an end to one source of cheap alcohol and cigarettes for travelers and lower profits for many transport firms.

GEC Holds More Talks on Govan Shipyard

Jun 29, 1999

A unit of General Electric Co. Plc reportedly held a new round of talks aimed at buying Kvaerner's Govan shipyard in Glasgow, but no deal has yet been reached.

Brazil's Transroll Seen Exiting Europe-Latin American Trade

Jun 29, 1999

Transroll Navegacao is reportedly about to pull out of the East Coast South America to North Europe trade.

Pakhoed Delays Refinancing of Fleet

Jun 29, 1999

Pakhoed NV has reportedly postponed the refinancing of part of its Pakhoed Shipping division fleet.

GEC Holds More Talks on Govan Shipyard

Jun 29, 1999

A unit of General Electric Co. Plc reportedly held a new round of talks aimed at buying Kvaerner's Govan shipyard in Glasgow, but no deal has yet been reached.

Duty Free Ends in Europe, but Tax Differences Remain

Jun 29, 1999

Duty free shopping in Europe dies at midnight on June 30, heralding an end to one source of cheap alcohol and cigarettes for travelers and lower profits for many transport firms.

Newport news to Record Second quarter Gains

Jun 29, 1999

Newport News Shipbuilding Inc. reportedly increased its second quarter earnings estimates by about 40 cents per share on stronger margins in its core business and

Grupo Libra Gives Up Shipyard Plan

Jun 29, 1999

Grupo Libra will reportedly give up its lease on the Estaleiro Niteroi shipyard after failing to win any new orders.

EU, Mercosur Agree To Launch Trade Talks

Jun 29, 1999

The European Union and South America's Mercosur trade bloc reportedly agreed to launch talks in November, which they hope will lead to bilateral free trade.

APEC Trade Package Stalls, Seen Going To WTO

Jun 29, 1999

Plans to implement tariff reductions in the Asia-Pacific region were reportedly near collapse after the United States and other APEC economies pushed for the debate

Simon Awards Humber Sea Terminal Contract

Jun 29, 1999

Simon Group Plc has reportedly been awarded the marine construction contract for the Humber Sea Terminal, to be built on the south bank of the River Humber in north east England.

Carnival Sees Delay In Delivery Of New Cruise Ship

Jun 29, 1999

The Carnival Cruise Lines unit of Carnival Corp. reportedly expects technical difficulties to delay the delivery of its new 102,000-ton cruise ship Carnival Triumph.

Members Of Grand Alliance To Add U.S.-Asia Service

Jun 29, 1999

Container shipping line members of the Grand Alliance reportedly will improve their service between North Asia and the U.S.

Jinhui Unit To Buy Bulk Carrier

Jun 29, 1999

One of Jinhui Holdings Co. Ltd.'s indirect subsidiaries reportedly agreed to pay Sumitomo Corporation $20.8 million for a bulk carrier.

SCS, NDT To Form Joint Venture

Jun 29, 1999

Stolt Comex Seaway and NKT Holding will reportedly create a new firm to make equipment for the offshore oil and gas industry.

Big Oil Second Quarter Earnings Seen Doubling

Jun 29, 1999

Salomon Smith Barney reportedly predicted second quarter 1999 earnings for U.S. major oil companies will be almost double earnings seen in the first quarter of 1999.

U.S. Oil Producers To Seek Dumping Investigation

Jun 29, 1999

In response to a flood of crude oil imports, independent American oil producers will reportedly ask the U.S. government this week to investigate for the first time alleged crude oil dumping in the U.

Defaulted Charters Seen Spreading To Tanker Market

Jun 25, 1999

Unpaid ship charter hire, an increasing problem in the depressed dry bulk shipping market over the last year, is reportedly spreading to the tanker markets.

Italian Shipping Group Bids For I.M. Skaugen

Jun 25, 1999

Navigazione Montanaria Spa has reportedly made a cash bid valuing I.M. Skaugen at $50 million.

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