Surplus Of Chemical Tankers To Reduce Earnings
The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said.
Kvaerner Posts 1999 Record Loss, Expects a Brighter 2000
Kvaerner ASA announced a record 1999 pre-tax loss, hit by restructuring costs and weak non-core operations, but forecast an upturn at its core businesses in 2000.
1999 Container Trade Seen Mixed
Shipping container trade from Europe to Asia grew by 20 percent in 1999, but only by five percent for trade the other way, a senior shipping executive said. A trade…
MAN Acquires Alstom Diesel Engine Ops
Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition…