Lehman Bros.: General Maritime Is A Strong Buy
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25. "We expect charter hire rates to…
Izar Ferrol Repairs Eight Vessels At Once
The shiprepair yard of IZAR Ferrol last week surpassed previous occupancy records, as it simultaneously worked on eight vessels. The yard facilities were fully busy…
Chittagong Port Strike Leaves 65 Ships in Limbo
A strike at Bangladesh's main Chittagong port has left some 65 ships carrying 1.3 million tons of cargo stranded, officials said on Friday. The 36-hour strike, (involving 20…
U.S. Customs Bust Panamanian Cargo Ship for Marijuana
U.S. Customs agents seized 6,310 lbs. (2,860 kg) of marijuana from a Panamian-flagged cargo ship carrying medical supplies and machinery into the Port of Miami, agency officials said on Thursday.
Northrop Grumman Extends Again NNS Tender Offer
U.S. defense contractor Northrop Grumman Corp. on Thursday said it extended again its tender offer for the shares of Newport News Shipbuilding, as the antitrust…
Intertanko: Tanker Accidents Down From 1990
The tanker industry recorded 42 shipping accidents in the first half to 2001, over half of which involved collision, fire or explosion and a quarter resulted in pollution…
Thyssen Krupp To Sell Shipping Unit
German steel group Thyssen Krupp said on Friday it had agreed to sell its shipping unit Krupp Seeschiffahrt to Los Angeles-based General Ore International. "This…
U.S. Oil Rises High
U.S. oil prices rose on Thursday, prompted by a hefty inventory draw last week, as traders shrugged off Iraq's announcement that it would soon restart exports. Crude…
MHI Orders Thordon For Cruises Newbuilds
Mitsubishi Heavy Industries (MHI) has ordered water lubricated Thordon COMPAC propeller shaft bearing systems for two new cruise ships being built for Princess Cruises…
Internet Ship Broker Goes Live
Internet ship-brokerage Levelseas went live this week, saying it would add functionality to allow cargo-owners and shipowners to trade with each other directly before October.
Cammell Laird Cuts Another 71
Struggling shipbuilder Cammell Laird Plc, which has entered into receivership, is to cut a further 71 jobs in Britain on the back of over 600 previously announced redundancies.
CP Ships Appoints Communications Director
Elizabeth Canna has been appointed CP Ships Director of Corporate Communications. reports to Jeremy Lee, Vice President, Investor Relations. Mrs. Canna joins CP Ships from The Wordsmith Inc…
Collar Appointed Vice President, Special Projects
Crowley Maritime Corporation veteran Steve Collar has joined Marine Transport Corporation as Vice President, Special Projects effective July 1. He is domiciled in Marine Transport's Weehawken…
First Wave Marine Files Reorganization Plan
First Wave Marine, Inc. announced that it has filed with the U.S. Bankruptcy Court for the Southern District of Texas, a Plan of Reorganization in the Company's Chapter 11 proceeding.
Schat-Harding secures Vela contract
Schat-Harding has won an order to replace the winches on the lifeboat stations of 17 VLCCs owned by Vela International Marine Ltd, a subsidiary of Saudi Aramco.
RINA surveyors on board detained cruise ship
RINA has confirmed that, contrary to some reports, it is not responsible for fully certifying the cruise ship Ocean Glory 1, but is only responsible for classification of the vessel.
Lawrence Graham Urges Swift Action On Problem Deals
Lawrence Graham says shipping companies caught up in disputes involving insolvency and receivership need not come away from the table empty-handed, provided the dispute is handled correctly.
IZAR Lands FPSO Order
IZAR has been awarded a contract to build a 900,000bb FPSO (Floating, Production, Storage and Offloading) unit for Belgium's company Exmar Offshore. The unit is…
Exmar Announces LNG Deals
Exmar, CMB's gas tanker division, together with Mitsui O.S.K. Lines, confirms the long-term charter party with El Paso Corporation of two further liquefied natural gas (LNG) tankers…
ABB lands $42M contract with Santa Fe Intl.
ABB, the leading innovator in podded propulsion systems, has struck a landmark deal to supply its new compact podded propulsion system on a semi-submersible drilling rig. Santa Fe International Corp.
