September, 1999 Maritime News

ClassNK Opens Durban Office

Sep 30, 1999

ClassNK, the Japanese-based classification society has opened an office in Durban, Republic of South Africa in response to a significant increase in survey business

Marine Design Center To Acquire Barge

Sep 30, 1999

The Marine Design Center (MDC) of the U.S. Army Corps of Engineers (USACE) intends to attain an inland river style specialty barge to serve on the U.S. Army Corps of Engineers,

MHI Establishes Australian Subsidiary

Sep 30, 1999

Mitsubishi Heavy Industries (MHI) has established a wholly owned subsidiary, Mitsubishi Heavy Industries Australia Pty. Ltd., which will commence operations on October 1.

MariTEL Appoints VP Of Operations

Sep 30, 1999

MariTEL Marine Communications System has elected Steve Skalski as vice president of operations, focusing on construction of the MariNet - the marine local loop.

Crowley Announces Restructuring

Sep 30, 1999

Crowley Maritime Corp. is planning a significant strategic restructuring that will result in a more decentralized ocean cargo transportation company once the sale

Superior Fabricators Awarded Cantilever Extensions

Sep 30, 1999

Superior Fabricators of Baldwin, La., has been awarded cantilever extensions for two Global Marine Jackup rigs, which are currently under tow into the Gulf of Mexico from West Africa.

NovAtel Receives MSAS Order

Sep 30, 1999

NovAtel was granted orders to supply another 13 reference receivers to the MTSAT Satellite-based Augmentation System (MSAS) in Japan. With the order estimated at more than $1 million,

Hitachi Zosen Reports Extra Profit

Sep 29, 1999

Hitachi Zosen Corp. will reportedly obtain an extraordinary profit of $140 million in the six months ending in September due to a sale of idle land. It will sell 30,316 sq.

P&O Plans To Tackle German Cruise Market

Sep 29, 1999

British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.

World's First Floating Resort To Sale In 2001

Sep 29, 1999

The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, according to company officials.

U.S. Petroleum Inventory Drops, Oil Prices Soar Higher

Sep 29, 1999

Oil's eight-month rally hit yet another high today as dealers cited news that U.S. petroleum inventories had dropped to near-three-year lows as proof OPEC supply

Iraqi Oil Sector 'Doing Nothing' To Prepare For Y2K, May Have To Shut Down

Sep 29, 1999

Iraq's oil industry is not prepared to deal with the millennium bug and may well be forced to shut down production and exports at the turn of the year, according to industry sources.

Improving Freight Rates May Help Shippers Cope With Fuel Costs

Sep 29, 1999

The shipping industry is in a better position to cope with soaring fuel prices because of growth in trade as Asia recovers economic crisis, analysts said. The price of bunker fuel,

Iran Makes $100 B Oil Find, Majors Compete For Big Deals

Sep 28, 1999

Iran has reportedly made its biggest oil find in 30 years, a giant 26 billion barrel field discovered just as the country is attempting to revive exploration activities.

Tanker Owners To Gain More Pull Through Information Sharing System

Sep 28, 1999

Tanker owners organization Intertanko is reportedly testing a system designed to give ship owners greater market clout through increased vessel/cargo information sharing.

California Company Settles Oil Spill Case For $9 M

Sep 28, 1999

Privately-owned company Pearl Shipping has reportedly agreed to pay $9.4 million in compensation for an engine fuel spill from one of its tankers off California last year.

Mitsubishi Heavy To Cut 5,000 Jobs, Forecasts Net Loss

Sep 28, 1999

Mitsubishi Heavy Industries Ltd. announced it will cut its work force by 5,000 under a new business plan to be drawn up by the end of October. Under the staff-reduction plan,

Louis Cruise Lines Acquire New Ship

Sep 28, 1999

Louis Cruise Lines reportedly acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, the M/S Mermoz, was bought from Prestige Cruises NV,

Latvian Shipping To Update Aging Fleet

Sep 28, 1999

Latvian Shipping has reportedly begun a renewal of its aging fleet by placing an order for six new tankers. According to company officials, the firm had signed

NCL Cancels Cruise After Canadian Grounding

Sep 28, 1999

NCL has reportedly canceled a cruise on the Norwegian Sky luxury liner after the vessel ran aground in the St. Lawrence River, Canada. The ship, carrying more than 2,

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