Maritime Industry Top News
SEDNA Completes Sea Trials
Sonsub's newest cable burial and maintenance system, SEDNA, has successfully completed system tests and sea trials off the Louisiana coast at depths exceeding 9,900 ft.
Unitor awarded major supply agreement by Bergesen
Norway's Bergesen DY Group has awarded international ships service provider Unitor a three year agreement, plus two one-year options, to supply marine products and services to its commercial fleet…
Panamax Sector Remains Positive
The Panamax sector remains positive, although the prompt market is turning cautious, shipbrokers said. While freight rates and indices continue to show either gains…
Kristal Loss Raises Flags
Similarities were emerging between this week's loss of the tanker Kristal off Spain and a number of other recent tanker disasters, leading to warnings of an industry-wide crisis.
USACE Programs Come Under Bush Gaze
The Bush administration may require independent reviews of Army Corps of Engineers' plans for projects that are expensive or controversial to avoid a repeat of the…
Aker, Kvaerner Merger Proposed
Norwegian industrialist Kjell Inge Roekke proposed merging his Aker firms with the shipbuilding and oil and gas divisions of Kvaerner on Wednesday to combat stiffening world competition.
Aker Finnyards Delivers Unique Ferry
Irish Continental Group has taken delivery of its newest vessel, the $92 million cruise ferry m.v. Ulysses, from Aker Finnyards. With 2.6 miles (4 km) of deck space for commercial vehicles and cars…
Star Cruises Downgraded
A poor operating performance and expensive valuation prompted analysts to downgrade Asia's largest cruise operator Star Cruises Group. The company reported it posted…
Molasses Ship Splits, Sinks
A ship carrying molasses from India to Amsterdam split in two and sank in high seas off Spain's northwest coast, drowning three crew members and leaving eight missing.
RINA confirms Kristal class status
Italian classification society RINA says the 31,351 dwt tanker Kristal, which sank about 68 miles North of La Corunna off northern Spain in heavy weather yesterday…
Moody's Rates Proposed Costa Notes
S.A. that are unconditionally guaranteed by Carnival Corporation. Moody's also confirmed Carnival's A2 and Prime-1 ratings. The rating confirmation reflects Carnival's…
Minoan Profits Fall 82 Percent
Greek ferry operator Minoan Lines said profit in 2000 fell 82 percent to 3.0 billion drachmas versus 16.8 billion in 1999. "The difference in the level of net profit…
USCG Issues Upper Mississippi Safety Advisory
The U.S. Coast Guard has issued a safety advisory for a 24-mile stretch of the upper-Mississippi River near St. Louis due to high water conditions. From mile marker 160…
Mediterranean Shipping Co. Announces Appointments
Mediterranean Shipping Company (USA) Inc. (MSC) has announced the following staff promotions and appointments effective immediately: Francesco Pansardi was named Marketing Manager…
SpecTec, Wärtsilä join forces
SpecTec Group has signed an agreement with diesel engine company Wärtsilä whereby Wärtsilä will become a value-added distributor of SpecTec's AMOS software product range.
Hvide Marine To Be Renamed Seabulk International
Hvide Marine Inc. reported a net loss of $9.6 million for the fourth quarter ended December 31, 2000, on revenues of 80 million. In the year-earlier period, the company had a net loss of 197 million…
MISC Bond Issue Not Happening
Malaysia International Shipping Corp (MSIC) said on Tuesday it had no immediate plan to issue any bonds. Replying to a stock exchange query, the Malaysian flag carrier…
Brokers: Shell Considers Single Hull Ban Through Bosphorus
Shell is considering a self-imposed ban on single-hulled tankers for cargoes coming through the Bosphorus from the Black Sea. "They're considering demanding double…
Port Plans $105M Investment
Malaysia's Port of Tanjung Pelepas (PTP) intends to buy more than 400 million ringgit ($105 million) of equipment to handle an expected rise in container shipments.
Guangzhou Shipyard To Post Losses
China's Guangzhou Shipyard International Co. Ltd. expects to post significant losses for last year due to a provision for asset depreciation. The firm "wishes to…
