February, 2000 Maritime News

EU Debates Old Ships V. New Ships

Feb 29, 2000

The lack of a European Union directive on tanker regulations could hamper the EU in adopting proposed new rules to ban old tankers, ship owners said last week.

KMY Wins Two-Ship Order From RCL

Feb 29, 2000

Kvaerner Masa Yards won a $1.09 billion contract to build two ships for Royal Caribbean Cruises (RCL). The Eagle-type cruise ships are scheduled to be ready for delivery in 2002 and 2003.

Australian Company Buys Into U.S. Inland Market

Feb 29, 2000

Towage group Adsteam Marine Ltd unveiled a $55 million investment in an Alaskan barge group last week, a move, which was reportedly designed to drive further growth

Carnival Announces $1B Stock Buyback

Feb 29, 2000

While the Y2K bug proved to be an overblown concern, world-leading Carnival Corp. surely must feel that there's something about the turn of the new decade that's making it feeling sickly.

P&O Announces Steady Results For Stena

Feb 29, 2000

Peninsula & Oriental Steam Navigation Company Plc, said its Stena Line had results broadly comparable to year-ago figures, as it released quarterly ferries results.

Mississippi River Traffic Starts Flowing Early

Feb 29, 2000

Barges traveled freely last Monday along the mid-Mississippi River after a lock in Quincy, Ill. opened ahead of schedule, according to the U.S. Army Corps of Engineers.

Innovative High-Speed Japanese Ferry Enters Service

Feb 29, 2000

A high-speed Japanese ferry left Japan last Tuesday on its maiden voyage to Shanghai, which it is expected to reach in half the time of a conventional vessel. The Techno Super Liner,

Moody's Downgrades Navigator Gas

Feb 29, 2000

Moody's Investors Service has downgraded the rating of Navigator Gas Transport's first priority ship mortgage notes due 2007 to Caa2 from Caa1, and the second priority notes due 2007 from Ca to C.

Panama Canal Revenues Drop 2.6%

Feb 28, 2000

Panama Canal revenues for January totaled $48.9 million, down 2.6 percent from the same period a year ago, the waterway's administrator's said last week. Cargo tonnage from the month's 1,

Finland Prepares For Massive Sea Transport Strikes

Feb 28, 2000

The 10 percent of Finland's workers who still have no pay deal for this year are digging in their heels in preparation for strikes which could have serious effects on the Finnish economy.

P&O Takes Two From MHI

Feb 28, 2000

A further sign of Japanese inroad in the lucrative, and previously European-exclusive domain, of cruise shipping was sounded last week when the Financial Times

U.S. MSC Ship Collides In UAE

Feb 28, 2000

A U.S. Military Sealift Command fuel ship was reportedly in a collision with a civilian vessel on Sunday (Feb. 27) while preparing to enter the Jebel Ali port in the United Arab Emirates, the U.

Finland's Spring Could See Shipping Strikes

Feb 25, 2000

The 10 percent of Finland's workers who still have no pay deal for this year are digging in their heels in preparation for strikes, which could have serious effects on the Finnish economy.

India Eases Chartering Rules

Feb 25, 2000

Indian shipping companies can now charter out their vessels to foreign companies without prior government approval, a Surface Transport ministry official said. He said the Department of Shipping has,

Bulgaria Tries Again To Sell Shipyard

Feb 25, 2000

Bulgaria opened a new tender for an 80 percent stake in the state-owned shipyard in the second biggest Black Sea port of Bourgas and set a March 15 deadline for bids.

Vopak Reports '99 Net Down, Eyes Improvement

Feb 25, 2000

Dutch shipping and tank storage firm Vopak NV reported that its ordinary net profit fell by 5.3 percent in 1999, but said it expected improvements this year. Net

Worldwide Capesize Rates Continue To Firm

Feb 25, 2000

Capesize rates firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east

Talk Of Tanker Age Limits Gives Markets A Lift

Feb 25, 2000

Tanker markets continued strong at the end of last week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.

ITIC Highlights The Perils Of E-Mail

Feb 25, 2000

Electronic communication is not totally secure despite a seemingly bug-free transition into 2000, warns The International Transport Intermediaries Club (ITIC).

USCG Codifies Single Hull Phase-out Requirements

Feb 25, 2000

In a notice of proposed rulemaking (NPRM), the USCG proposes to clarify and codify a policy it issued in April 1999 regarding phase-out dates for single hull tank vessels.

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