Wednesday, September 29, 1999 Maritime News

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,

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