Caland Preliminary Profits Up 4.7%
Dutch shipbuilding and engineering group IHC Caland Nv reported that 1999 preliminary net profit rose 4.7 percent from the previous year, and officials said they…
Norway To Rule On Star Bid
Norway's Industry Ministry is likely to make a ruling before Feb. 4 regarding a bid by NCL's board to deny votes to Malaysia's Star Cruises. NCL, the target of a bid war between Star and U.S.
ACT Gets Loan For Hong Kong Terminal Construction
Asia Container Terminals Ltd. (ACT) has signed a $437 million project financing agreement backing the construction and development of Container Terminal 9 at Tsing Yi Island in Hong Kong…
Safmarine Adds Three Ships To Schedule
South African shipper Safmarine will add three more ships to its current schedule serving the Mediterranean and Africa on Feb. The new ships bring the number of…
EU Launches New Kvaerner Shipyard Aid Probe
The European Commission is expected to start a probe into state aid to a German subsidiary of Anglo-Norwegian engineering and shipbuilding group Kvaerner Plc. The…
China Executes 13 In Piracy Case
China has executed 13 people for clubbing 23 seamen to death and throwing their bodies overboard in the country's biggest piracy case in 50 years, news reports said.
Planned Tanker Age Curbs Seen As Insufficient
Age limits being imposed on tanker chartering by oil companies do not address the use of ships like the Erika, which broke up off France in December, shipping industry sources said.
Ship Safety Database Set Up To Prevent Future Erikas
European maritime administrations signed an agreement to set up a central shipping safety database aimed at eradicating dangerous vessels. The Equasis system will…
TotalFina Drops More Cash Oil Spill Recovery
TotalFina plans to add $4.5 million for tourism promotion to the $120 million it has already pledged to clean up the December fuel spill from its chartered tanker Erika.
NCL Aims To Block Star Bid
NCL Holding plans to block a takeover bid from Star Cruises, accusing it of skirting the law and buying NCL shares. Officials of NCL, which is the target of a bid war between Star and Carnival Corp.…
SS&Y's Capesize Indices Drop
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 45 points to 4,060 in the week ending Jan. 24. "A fresh decline in the Pacific Capesize Index…
Chartering Conditions Dull Throughout Atlantic Sector
Chartering conditions were dull throughout the Atlantic sector of the dry cargo freight market, brokers said. Capesize activity was very limited and Panamax rates…
Key Mideast Markets Surge On Erika Factor
Mideast-Far East crude oil tanker freight rates leapt skywards for the second day in a row as the Erika-effect took hold, shipping brokers said on Jan. 21. Japan…
Malta Drydocks Gets New Leader
Malta last Wednesday appointed the head of Malta Shipbuilding as chairman of Malta Drydocks, pointing to closer cooperation between the two loss-making firms. The…
Marine Drilling Reports Fourth Quarter Results
Marine Drilling Companies Inc. reported fourth quarter 1999 net income of $2.5 million, or $0.04 per share, on revenues of $44.8 million, compared to net income of $7.0 million…
Manitowoc Reports Record Results For 1999
The Manitowoc Company, Inc. reported record financial results for both the fourth quarter and full year ended December 31, 1999. This was the company's fifth year…
MSC Selects Autoships' Systems
Based in Washington, D.C., Military Sealift Command (MSC) has chosen Autoship Systems' onboard stability program Autoload for their vessels. Autoload allows vessel…
Divers Plug Holes In Tanker
Divers have plugged most of the leaks in a tanker carrying heavy fuel, which sank off the United Arab Emirates, the UAE coastguard said. Hassan Malallah said a little…
Take That! Carnival Keeps NCL War Alive
Carnival Corp. revived a war for control of Norway's NCL Holding last Thursday with plans for a $1.3 billion offer, topping a bid by Malaysia's Star Cruises. "Carnival…
Inspection Groups Mull Changes
Ship inspection organizations, criticized in the wake of the Erika oil spill, are considering changes to their procedures. A special meeting has been called to review…
