SS&Y Atlantic Capesize Index Climbs 226 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 226 points to 4,367 in the week ending Nov. 22. "Gains of between five and 40 cents on many routes lifted the index this week…
SS&Y Pacific Capesize Index Down 12 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index was down 12 points to 4,282 in the week ending Nov. 22. "Short-term prospects remain good as the plethora…
Gulf Of Mexico Rig Count Increases
The U.S. Gulf of Mexico offshore rig count continues to rebound, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191…
New Workboat Management System Introduced
A system touted as the first fully integrated workboat management system - dubbed GlobeOffshore - will be unveiled by Globe Wireless at the International Workboat Show in New Orleans, to be held Dec.
Panama Canal Y2K Plans Are Progressing Full Steam Ahead
Plans to safeguard Panama Canal operations from Y2K-related disruption are highly advanced, the waterway's administration said last week. The Panama Canal Commission…
Suezmax Market To Be Hit Hardest By Iraqi Export Suspension
Depressed tanker markets will be hit hard by Iraq's decision to suspend crude oil exports for up to two weeks, tanker brokers said. Suezmax tanker rates in the Mediterranean…
Oil Prices At Nine-Year High As Iraq Suspends Exports
Oil prices rocketed to a new nine-year high Nov. 22 after Iraq suspended oil exports under its humanitarian exchange program with the United Nations. London January Brent futures opened at $25.90…
Hyundai Heavy Foreign Ship Orders At $440M
South Korea's Hyundai Heavy Industries Co. won $440 million in foreign shipbuilding orders for 11 vessels so far this month. -Taiwan's Yangming Marine Transport Corp.
Standard & Poor's Puts Stena Line On Credit Watch
Standard & Poor's placed its single-'B'-plus long-term corporate credit ratings, and its single-'B' senior unsecured debt ratings on Stena Line AB on CreditWatch with negative implications.
Handy Rally Ends Before It Gets Started
A brief pre-millennium recovery in the long-depressed Handy size bulk shipping markets appears to have been snuffed out before it got going, brokers said. A rush…
'Great Satan' Blamed for Iran's Y2K Woes
Although its more than 622 years away by their count, Iranians must deal with millennium issues in about 32 days. Iran's 20-year-old breach with the United States…
Another Fantasy Island? Floating Metropolis Plans Move Ahead
A massive $8.5 billion luxury floating metropolis, the biggest boat in history, is reportedly on the verge of being built in the poverty-stricken Central American nation of Honduras.
Trailblazing Through Ice: Russia Optimistic About 'Short Cut' Sea Route
Russia expressed optimism about plans for a short-cut Arctic sea route between Europe and the Pacific Ocean despite skepticism from the Russian military and some foreign shipowners.
The Eagle Has Flown: Royal Caribbean's Voyager Of The Seas Raises The Bar For The Cruise Industry
Slipping out through the Finnish archipelago on a Sunday morning at the end of October, Voyager of the Seas cut a figure of unprecedented scale in the passenger ship sector…
IHC Caland Mulls Exit From Shipbuilding
Shipbuilding and engineering group IHC Caland NV might stop building ships if the Dutch state goes ahead with plans to abolish subsidies for shipyards after 2000.
P&O Nedloyd Raises Canadian Box Rates
P&O Nedlloyd will raise rates on its westbound Canada service twice early next year. An increase of $200 per 20 ft container (teu) and $250 per 40 ft container (feu) would be sought from January 1.
Rules For FOC Vessels To Come
Negotiations to adopt international working conditions for seafarers on flag of convenience (FoC) vessels will start for the first time next year. It is the first…
Keppel Philippines Appoints New Execs.
Keppel Corporation Ltd.'s Group Finance Director, Teo Soon Hoe has been appointed Chairman of Keppel Philippines Holdings, Inc (KPH), following the retirement of Loh Wing Siew.
Mexico Plans Huge Air, Rail And Sea Terminal
The Mexican state of Veracruz on the Gulf of Mexico is planning to build a massive air, rail and sea cargo terminal for international trade, according to state officials.
Floating Metropolis To Be Built In Honduras
A massive $8.5 billion luxury floating metropolis, the biggest boat in history, is reportedly set to be built in Honduras in January. Boat builder Freedom Ship Inc.