World Shipholding Ups Osprey Stake
World Shipholding Ltd. acquired about 91.32 percent of the shares in Singapore's Osprey Maritime Ltd. as of the close of its cash offer on Monday. According to Singapore Exchange rules…
Castor Still Seeks Calm Waters
A stricken petrol tanker stranded in the Mediterranean is being towed eastwards in search of calm waters to continue a salvage operation, the Cyprus Department of Merchant Shipping said on Tuesday.
Atlantic Panamax Rates Weaken
The buoyancy detected in the Atlantic Panamax market over the past two weeks has waned, brokers said. Fresh orders from the U.S. Gulf were described as light and…
Freight Rates Are Falling
A lack of enquiry from Far Eastern charterers has caused VLCC freight to fall almost to the same level as the longer haul westbound routes, which usually trade much lower, brokers said Tuesday.
USCG Issues High Water Warnings
The U.S. Coast Guard issued a safety travel advisory for sections of the upper Mississippi and Missouri rivers due to rising water levels near St. Louis. The Coast…
Litton Delivers Sealift Ship Ahead of Schedule
USNS MENDONCA (T-AKR 303), the fourth of seven BOB HOPE Class Strategic Sealift ships being built by Litton Avondale Industries was delivered to the U.S. Navy on January 30, 2001, ahead of schedule.
Manitowoc Reports Results
The Manitowoc Company, Inc. reported its financial results for the fourth quarter and year ended December 31, 2000. Net sales for 2000 grew 5.9 percent to $873.3 million from $824.3 million in 1999.
Hvide Completes Lightship Transaction
Hvide Marine Incorporated (HMI) received Hart-Scott-Rodino clearance and has completed the purchase of the remaining 24.25% equity interest in Lightship Tankers…
Fourth Time A Charm For Latvian Shipping?
After five years of failed tenders and political turmoil, Latvia is once again bringing Latvian Shipping to the block in the hope of finally selling the company…
Galapagos To Make Recovery
Ecuador's Galapagos islands should make a full recovery from the oil spill that tarnished its sandy shores, a sign of hope for the hundreds of unique species there…
DD 21 Alliance Taps Dassault Systems
The DD 21 Alliance has announced a development acceleration agreement with Dassault Systemes CATIA Version 5 and ENOVIA to support the complete Product Lifecycle Management (PLM) of the U.S.
Another Ship Captain Arrested
Ukrainian prosecutors arrested the captain of a ship which sank en route from Istanbul to Ukraine's Crimean peninsula and charged him with breaking transport safety laws.
French Carrier To Return In April
The troubled French aircraft carrier Charles de Gaulle, which lost part of a propeller during its first long cruise last year, will be back in service in April, France's Defense Minister said.
Jones Act Waiver Returned As Incomplete
The U.S. Customs Service said that a request for a Jones Act shipping waiver that would have allowed foreign ships to move oil between U.S. ports was returned as incomplete.
IHC Caland Profit Up
Dutch IHC Caland NV said on Monday preliminary net profit rose eight percent in 2000, and reflected on a "difficult and often frustrating year." Net profits are…
Newport News Wins $3.8B Carrier Contract
Newport News Shipbuilding Inc. won a $3.8 billion U.S. Navy contract to design and construct the 10th and last Nimitz-class nuclear aircraft carrier, CVN 77. The…
India's Largest Port Damaged By Quake
Operations at India's busiest port, Kandla, have been affected by the powerful earthquake which devastated western India on Friday, but small ports nearby survived…
Stelmar Buys Osprey Tanker-Fleet for $212.5M
Airline chief Stelios Haji-Ioannou's tanker company Stelmar has agreed to pay $212.5 million for the bulk of the clean tanker fleet of Singapore-listed Osprey Maritime, Reuters reported on Wednesday.
Taiwan's Evergreen Sales Fall
Taiwan's Evergreen Marine, the world's largest shipping company, said sales fell 8.57 percent in 2000 to T$19.955 billion. The figures were contained in a brief statement to the Taiwan stock exchange…
Atlantic Panamax Business Slows
The buoyancy detected in the Atlantic Panamax market over the past fortnight has waned, brokers said on Tuesday. Fresh orders from the U.S. Gulf were described as…