Friday, November 05, 1999 Maritime News

Panama Canal Water Supply Study Underway

Nov 05, 1999

Panama Canal Water Supply Study Underway A feasibility study to safeguard Panama Canal water supplies into the 21st century is under way, the waterway's project manager said.

Norway's Oil Firms Address Millennium Issues

Nov 05, 1999

Oil firms in the final stages of testing for possible millennium disturbances on Norway's offshore oil and gas platforms say they are confident there will no major mishaps at midnight on December 31.

SS&Y Capesize Indices Fall

Nov 05, 1999

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 152 points to 4,194 in the week ending Nov. 1. "The index fell as only Chinese cargoes remained very active,

Offshore Rig Counts Mixed

Nov 05, 1999

The worldwide offshore rig demand declined since last week, according to Offshore Data Services' weekly mobile offshore rig count. While demand in the U.S. Gulf improved,

Abundance Of Ships Keeps Rates Depressed

Nov 05, 1999

Charter rates for product tankers continued to be depressed as surplus tonnage kept a lid on rises last week despite an increase in business in several loading areas.

Minoan Flying Dolphins Acquires Five Ferries

Nov 05, 1999

Minoan Flying Dolphins Acquires Five Ferries Minoan Flying Dolphins, a subsidiary of Minoan Lines, has acquired five used ferries that service routes linking the

OPEC Compliance Slips

Nov 05, 1999

OPEC compliance with supply curbs appears to have fallen in October but from a level revised higher for September, according to a leading consultant. Preliminary

LCL Buys Stake In Royal Olympic

Nov 05, 1999

LCL Buys Stake In Royal Olympic Cyprus cruise operator Louis Cruise Lines has signed a deal to acquire a 51.4 percent controlling stake in Nasdaq-listed Royal Olympic Cruise Lines.

United States Lines Floats Again

Nov 05, 1999

American Classic Voyages has acquired one of the most storied and renowned names in the history of ocean-going passenger transportation - United States Lines -

Maritime Surveyors To Play Crucial Y2K Role

Nov 05, 1999

Around 200 delegates from all sectors of the Dutch maritime industry attended a Y2K seminar organized by Dutch-Belgian surveying group Touw Holding. Representatives of banks,

Massoel S.A. Orders Three Bulk Carriers

Nov 05, 1999

Swiss shipowner Massoel S.A. reportedly has ordered three Handymax bulk carriers in cooperation with Norway's B Skaugen shipping group. The 46,000-dwt vessels are

Ferry Mishap Claims Eight Lives

Nov 05, 1999

Eight people were killed when a ferry sank in the northern Philippines. Colonel Delfin Bravo, police operations officer in Tuguegarao, said 50 passengers survived

Ecuador's Shrimp Exports Are, Well, Shrimpy

Nov 05, 1999

Ecuador's shrimp exports will suffer big losses this year due to low world prices and attacks of white spot virus, industry officials said. A hit to the country's

OPEC Needs To Spend $60B To Meet World Oil Demand

Nov 05, 1999

OPEC oil producers will need to invest $60 billion by 2010 to meet world oil demand, the group's president said. "To maintain its 1995 production level and make

Baker Hughes Reports Third Quarter Earnings Loss

Nov 05, 1999

Baker Hughes Inc., the world's third biggest oilfield services company, reported sharply lower third-quarter operating earnings, but said business had begun to

Eleven Immigrants Killed In Ferry Fire

Nov 05, 1999

At least 11 illegal immigrants died in a fire last Monday on an Italy-bound Greek ferry with more than 400 people aboard, Merchant Marine Ministry officials said.

Panama Handover To Include Pageantry

Nov 05, 1999

The government of Panama announced two days of celebrations ahead of next month's official U.S. transfer of control over the Panama Canal. The canal is due officially

Public Ports Push For Federal Funding Of Deep Draft Navigation

Nov 05, 1999

Public Ports Push For Federal Funding Of Deep Draft Navigation U.S. public port officials testified Wednesday, Nov. 3, at a hearing before the House Transportation

Finnlines Shares Surge

Nov 05, 1999

Shares in Finnlines surged last week, with analysts crediting the rise to growing European economic activity and Finnlines' recent deal to buy a stake in shipping group Transfennica.

Cargo Ship Missing, Feared Hijacked

Nov 05, 1999

A Japanese cargo ship has been missing since its departure in Indonesia Oct. 22, prompting fears that it might have been hijacked. Alondra Rainbow, carrying 7,

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