Atlantic Panamax Rates Take A Step Back
Sentiment on the Atlantic panamax market turned weaker albeit with unchanged freight rates, while most Pacific rates now appeared to be flattening out, shipbrokers said on Thursday.
Neptune's American Eagle IPO Is A No-Go
Neptune Orient Lines (NOL) said on Friday its unit American Eagle Tankers had decided to withdraw its initial public offering due to market weakness. American Eagle…
French Bulk Carrier Runs Aground in Australia
A French-registered bulk carrier carrying a load of grain from Geelong to Taiwan ran aground in Melbourne's Port Philip Bay on Thursday night, an Australian maritime authority said on Friday.
Protestors Greet New Cruise Season
When the season's first cruise ship docked this spring, it was met by more than the usual welcoming celebration. Protestors greeted the 2,020-passenger Norwegian…
Report Claims Profits Held Above Safety
The number of accidents at sea is rising because fishermen and merchant shippers put profit above safety, a report by the British marine accident investigation branch said.
Cruise Ship To Host E8 Leaders
A luxury liner called "The European Vision" which will act as a floating hotel for leaders of the world's top industrialized nations next month docked in Genoa on Wednesday.
EU Passes Ban On Single Hull Tankers
The European Union passed legislation to ban all single-hull oil tankers from its waters by 2015, in line with an international agreement to phase-out the ships, considered an environmental hazard.
Adsteam Shares Drop 15%
Shares in Adsteam Marine Ltd fell 15 percent on Thursday after it forecast growth in earnings in the year to end-June 2001, but said activity levels in some Australian ports were down in May and June.
Yang Ming Sales Sag
Taiwan's Yang Ming Marine Transport Corp., the island's largest shipping firm in terms of revenues, said on Thursday it made sales of T$3.75 billion in May, down…
Piracy Solution Must Be Found
Asian countries need to join forces to combat the piracy that makes the region's sea lanes the most dangerous in the world. Pirate booty these days include cargoes…
LR Report: 75 New LNG Ships for the U.S.
Lloyd's Register (LR) released the results of its extensive research into the LNG market. Talking at the LNG conference The role of LNG in North American and Caribbean gas supply in Washington D.C.…
Kvaerner Wins $27M Statoil Contract
Kvaerner ASA won a $27 million contract from Statoil to upgrade its Norwegian offshore installations. Kvaerner's contract for work on Statoil's Sleipner Vest field…
HBG, Ballast Nedam Combine Dredging Ops
Dutch construction firms Hollandsche Beton Groep (HBG) and Ballast Nedam signed a contract to merge their dredging operations. The joint operation, Ballast HAM Dredging…
Bulker Blocks Brazil Entrance
The Hong Kong-flag bulker Dyna Gemini was blocking shipping at Sepetiba, Brazil, after running aground in the middle of the access/exit channel, Reuters reported.
Management Buyout Proposed For Cammell Laird Yard
Cammell Laird Plc has axed another 146 jobs in the U.K., but a proposed management buyout of one of its yards held out the prospect on Wednesday of saving hundreds more.
Pirates Thwarted By Naval Forces
A complex anti-piracy operation involving the resources of three nations ended on Wednesday as Indonesian naval forces stormed the Singaporean tanker Selayang to…
Coflexip Stena Offshore Makes Management Changes
Pierre Marie Valentin, Chairman and Chief Executive Officer of Coflexip announced that the management structure of the CSO Group has been changed to reinforce its…
NedCargo Opens St. Petersburg Office
NedCargo, the European platform for container transport, opens an office in St. Petersburg. The company signals a rising volume on Russia and in general considers the Russian market as promising.
Stolt-Nielsen Opens New Office
Last week the Stolt-Nielsen Transportation Group (SNTG) opened a new office in the Rotterdam port area. Some time ago SNTG announced the concentration of its European activities in Rotterdam.
Panamax Rates Hold Steady
Freight rates in the Atlantic Panamax sector held steady on Wednesday amid signs that recent rises may be stalling, brokers said. "The Atlantic is holding up well…