NOL Upgraded By Salomon Smith Barney
Salomon Smith Barney has upgraded its recommendation on shipping group Neptune Orient Lines (NOL) to a buy from an outperform on the back of its new management and a strong U.S. market.
Star, Carnival Declare Victory In NCL Matter
Star Cruises and Carnival Corp. declared victory in a takeover bid for Norwegian cruise group NCL Holding, saying they controlled more than 90 percent of the shares.
North Sea Aframax Rates Rise
North Sea Aframax rates sky rocketed on Friday as continuing pressure to charter modern tonnage strengthened all tanker markets, shipping brokers said. Rates as…
Aker In Talks to Sell Aker Base Unit
Aker Maritime is in talks to sell a 32.5 percent stake in its Aker Base unit to supply ship owners Simen Moekster Shipping and Eidesvik Holding. Aker Maritime, which…
Fincantieri Gets $800M Order From HAL
Holland America Line, owned by cruise giant Carnival Corp., ordered two $400 million ships from Italian shipyard Fincantieri Cantieri Navali S.p.A. for delivery in 2003 and 2004, the company said.
France Takes Steps Toward Safer Ships
Transport Minister Jean-Claude Gayssot supported a French industry charter to tighten oil tanker safety aimed at making oil spills like the recent Erika disaster a thing of the past.
Campaigns Aim to Restore Historic Landmark Vessel
The schooner Adventure, a U.S. National Historic Landmark, has been selected as an Official Project of Save America's Treasures, a public-private partnership between…
Bermuda Voices Concerns About Ship Size
Bermuda's transport minister came out against allowing a new generation of huge cruise ships capable of carrying up to 3,000 passengers to dock at the islands.
Australian Tugboat Crewing Dispute Escalates
Australian towage operators threatened by foreign competition were at standstill with the Maritime Union of Australia (MUA) last Tuesday as a dispute over tug boat manning levels escalated.
Kelly Services Launches New Division
With the U.S. labor market at its tightest in three decades, the demand for talented engineers is at an all-time high, and as a result, more and more companies are…
Man Rescued After Fall From Cruise Ship
An Arizona man who fell from a cruise liner off St. Thomas in the U.S. Virgin Islands was rescued after three hours in the water this weekend in what Coast Guard officials said was a lucky escape.
Thief Steals Lifeboat Crew's Keys, Whiskey
A British lifeboat crew was left high and dry after thieves stole the keys to their boat house and made off with the crew's whiskey. The theft at the Royal National…
South Korean January Ship Orders Increase
New orders received by South Korean shipbuilders in January totaled 1.06 million gt, up 164.7 percent from the same month a year earlier, provisional figures from…
Jamaican Cruise Port Development Steams Ahead
Managers of Jamaica's delayed Port Royal Development Project expect to begin construction by year-end on a cruise ship pier central to the restoration of the one…
Shipping And Offshore Beating The Market
While the All Share Index dropped 2.1 percent during January, maritime shares were the best performing sector at the Oslo Stock Exchange as the Shipping Index rose 3.6 percent.
France Wants Tighter Rules For Ships Near Europe
France plans to press for tougher maritime safety rules within a 200-mile radius of Europe, said Transport Minister Jean-Claude Gayssot, adding that he would like…
RINA Says Hull Crack Caused Erika's Doom
RINA, which passed the tanker that sank off France in December, said the vessel broke up as a result of cracking of its hull. An internal inquiry into the loss of…
As Gas Prices Fly Ever Higher, Why Do Energy Stocks Stay Grounded?
Energy shares drew little comfort Feb. 4 from rising oil prices lifted first by red hot heating oil, then gasoline soaring to nine-year highs. U.S. light crude for…
Gdynia To Take Stake in Finnish Yard
Poland's Gdynia Shipyard is likely to take up 20-25 percent of shares in the Finnish Kvaerner Masa-Yards, Gdynia's chief executive Janusz Szlanta said last week.
Singapore Yards Back on Track?
Singapore's two ship-repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., are expected to report modest profit growth after almost two years of restructuring and consolidation.