Maritime Industry Top News
Enhanced Escort Tug Ajax Delivered to Ostenjo Rederi
Østensjø Rederi AS of Haugesund, Norway has received Ajax, one of the most powerful dedicated tanker escort tugs in the world, and the most powerful in Europe, for service on the west coast of Norway.
Generator Replacement Proves Cascade General Capabilities
Cascade General had its knowledge and expertise put to the test with the emergency replacement of a faulty generator on P&O's Sea Princess. Measuring 857 ft. (261.2 m)…
A Pointer to the Future
Developments in vessel powering, propulsion and related systems over the past decade, in particular, have had a fundamental bearing both on maritime technological advance as a whole…
Editor's Note
The annual parade of Great Ships in our December edition includes a roster of unique vessels, from the record-setting heavy lift ships Black Marlin and Blue Marlin…
Hvide Marine Elects New General Counsel
Hvide Marine has appointed Alan R. Twaits as senior vice president, general counsel and secretary with responsibility for all legal activities of the company, its subsidiaries and affiliates.
Bouygues Offshore's Stock Outperforms
Morgan Stanley Dean Witter raised its recommendation today on French oil services company Bouygues Offshore to "outperform" from "neutral" and gave a price target of 55 euros ($48.47) for the stock.
AsiaSat And Telstra Share Networks
Australian telecom giant Telstra and Hong Kong-based Asia Satellite Telecommunications Co. said on Tuesday they had established a framework for Telstra to use AsiaSat satellite capacity in Asia…
Sumitomo And Mitsui Finalize Merger Conditions
Sumitomo Marine & Fire Insurance Co. and Mitsui Marine & Fire Insurance Co. on Tuesday announced terms under which they will merge next October, creating Japan's…
EU Agrees To WTO Action
European Union member governments agreed on Tuesday that the EU should launch World Trade Organization (WTO) action against South Korea unless Seoul changes the…
NYSE Suspends Trade Of NCL's American Depositary Receipts
The New York Stock Exchange on Monday said it had suspended trade of Norwegian cruise operator NCL Holding ASA's American Depositary Receipts due to the purchase of the company by another cruise line.
Bintulu Port Holdings To Offer New Shares
Malaysia's Bintulu Port Holdings, which runs the nation's largest LNG port, plans to offer 100 million new shares to raise at least 400 million ringgit ($105.2 million) under its IPO.
Russian Defense Minister Hopes For Coordinating Rescue Efforts
Russia's defense minister said on Tuesday he hoped NATO and Moscow could agree on coordinating efforts to save submarine crews - but he carefully avoided pointing…
Aircraft Carrier Is Unwelcome In Bosphorous Straits
Turkey said on Tuesday it would bar the passage of a large, decommissioned aircraft carrier through Istanbul's busy Bosphorus straits after China said it wanted…
Denbridge Digital To Provide Offshore Protection To Esso
ESSO Production Malaysia Inc. (EPMI) has placed an order with Radii Teknologi Sdn. Bhd., the Malaysian representative of the VTS Group of Denbridge Digital for…
Royal Caribbean Declares Dividend
The Board of Directors of Royal Caribbean Cruises Ltd. has declared a quarterly dividend of $.13 per share for shareholders of record at the close of business on December 19…
Ensolve Biosystems' Senior Scientist Receives Top Honor
Dr. Donald W. Kelemen, senior scientist of EnSolve Biosystems, has been selected as an honoree for the 2000 American Chemical Society's Industrial Innovation Awards Program. Dr.
SSY Indices Fall
Shipbrokers Simpson, Spence and Young's Pacific Capsize Index fell 401 points in the week ending Monday to 5,618. "The Index is higher than it was a month ago and…
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…
