EU Investigates Unfair Trade Practices
The European Union is to investigate alleged unfair trade practices by South Korean shipbuilders, a move that could lead to a World Trade Organization (WTO) case, Reuters reported.
FGH And Ocean Rig Sign Cooperation Agreement
Friede Goldman Halter (FGH) and Ocean Rig have signed a cooperation agreement related to the completion and delivery of Ocean Rig's Bingo 9000-1 and Bingo 9000-2 offshore drilling rigs…
Tanker Grounding Renews Safety Calls
The grounding of the oil tanker Westchester in the Mississippi river has had no immediate impact on the freight market but brokers say it could spark a longer term flight to quality…
Latvian Shipping Given OK To Sell Refrigeration Fleet
The Latvian privatization agency cleared Latvian Shipping to sell part of its loss-making refrigerator fleet to concentrate on its core tanker business, Reuters reported.
Diesel Engine Market Expands
Finnish engineering group Wärtsilä said its share of the global marine engine market in the 12 months to end-May dipped to 28 percent from 29 percent a year ago, but the market had grown considerably.
Oil Spill Closes Mississippi
The Mississippi River was shut to all vessels Tuesday night after the Westchester, a 13,000-barrel crude oil spill near the mouth of the river some 60 miles south of New Orleans, the U.S.
Intertanko Names New Managing Director
Intertanko announced that Dr. Peter Swift (55) has been appointed as the new Managing Director of the Association after Mr. Dagfinn Lunde. He will take up his new position as from 1 February , 2001.
Graykowski Joins Dyer Ellis & Joseph
Former Deputy Administrator of the U.S. Maritime Administration (MarAd) John E. Graykowski has joined the law firm of Dyer Ellis & Joseph as a shareholder. Since…
Bulk Carrier In For Repair
The Maltese-flag bulk carrier Fortuna Europa arrived in Yokohama on November 27 for permanent repairs to damage sustained at Balboa in September, Reuters reported.
U.S. Stock Build Eases Oil Pricing
U.S. crude stocks last week rose for the fourth straight week though low import levels kept the increase below expectations, according to the American Petroleum Institute (API).
Taiwan Cuts Bunker Fuel Prices $10
Taiwan's Chinese Petroleum Corp. (CPC) has cut spot bunker fuel oil prices to $171 per ton from $181 effective from Tuesday. The posted prices were for spot 180…
Pertamina To Stop Using Tanker For LSWR
Indonesian state oil company Pertamina will stop using the Platinum tanker as a storage platform for low sulfur waxy residual (LSWR) in December, Reuters reported..
Osprey Reports Strong Profits
Osprey Maritime Ltd., in the middle of being taken over by Norwegian shipping magnate John Fredriksen, reported a sharp earnings turnaround on Wednesday, suggesting…
Carib Freight Rates Soar
Freight rates for Caribbean clean cargoes leapt to nearly W400 on Wednesday from W335 at the start of the week, brokers said. "There's a shortage of Boston-suitable tonnage…
EU To Ban Subsidies, Monitor S. Korea
The European Commission plans to bar state aid to European shipyards from the year-end, but could reinstate it within months if South Korea fails to halt alleged unfair help to its shipbuilders…
Greek Ferry Exec Plunges To His Death
A senior executive at the shipping company which owned a Greek ferry that sank in September killing 80 people, plunged to his death from the sixth floor of his office building on Wednesday…
Fincantieri Awarded Carrier Contract; To Expand Facilities
It was reported that Italy's Defense Ministry placed a $757 million order for an aircraft carrier with Fincantieri SpA. The order for the 235-meter long vessel,…
Daewoo Shipbuilding Files Suit
Financially-troubled Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. has reportedly filed a lawsuit against the Korean Ministry of National Defense…
AMCV Outlines Expansion Plans
American Classic Voyages Co., which is currently engaged in a high-profile effort to build cruise ships in the U.S., recently provided financial information on its…
Alstom Chosen For Innovative Hopper Dredge Project
A new niche for Alstom to equip the first 8,500 cu. m. hopper dredge with electric propulsion. Alstom Power Conversion has been awarded a contract by E.N. Bazan…