Maritime Industry Top News
Outlook for Floating Production Systems
The strong and sustained rebound in the price per barrel of oil, coupled with the economic recovery in Asia has offshore production related companies planning for a big 2000.
Union Complains of Unsafe Ships
Thousands of seafarers risk their lives on unsafe cargo vessels that daily enter the East African ports of Mombasa and Dar es Salaam, trade union officials said last week.
Capesize Rate Jump Driven By Japanese Steel Market
Increased Japanese steel production has driven Booming Capesize rates more than the August market raid by Belgium's Bocimar when it chartered about 35 ships, shipping sources said.
American Cruise Ship Takes Shape
The much-watched progress of two new cruise vessels under construction for AmericanClassic Voyages at Ingalls Shipbuilding are quickly taking shape, at least in the area of equipment selection.
IMO: Proposing Mandatory Traffic Control Compliance
The International Maritime Organization (IMO) has proposed mandatory compliance by ship masters with orders from shore traffic controllers. The suggestion by IMO…
Princess Cruise Business Is Strong
Peninsular & Oriental Steam Navigation Co. said its Princess Cruises business performed strongly in the third quarter with occupancy reaching 103.8 percent from 101.7 percent a year earlier.
Attica Gets OK For Shares Issue
Greek ferry operator Attica Enterprises received shareholder approval last Thursday for a one-for-10 bonus share issue and a one-for-10 rights issue at 3,200 drachmas a share.
Holyman To Back New Lang Bid
Holyman Ltd.'s board of directors will reportedly recommend a fresh $.71 a share takeover bid from Lang Corp Ltd. Lang Corp increased its cash offer from $.61, topping…
Minoan Lines Orders Ferry From Samsung
Passenger shipping firm Minoan Lines has reportedly placed an order for a third ferry with Korean shipyards Samsung, to be delivered in May 2001. The vessel will…
Stena Bulk To Invest In VLCCs
Sweden's Stena Bulk will reportedly invest in and manage two new VLCC tankers being built in Japan for Golden Ocean Group, and has an option on a third vessel. Stena…
Russian Icebreaker Operator Predicts Easier Winter Conditions For Arctic Shippers
An earlier forecast that Arctic shipping would face problems from severe weather has not been realized, experts now see no major disruptions to winter shipping.
NNS Wins Two Ship Repair Contracts
Newport News Shipbuilding has been awarded two separate contracts for ship repair work. The first award is for the M/V 1st Lt. Alex Bonnyman, a Military Sealift…
IHI Cuts 1,200 Jobs
Ishikawajima-Harima Heavy Industries Co. Ltd. (IHI) will cut its work force by 1,200 from the current 13,200 by the end of March 2001. A spokesman said the company…
Hanjin Wins $294M In Orders
Hanjin Heavy Industries won orders totaling $294 million to build 10 ships for a Dutch firm, a German firm and one other European company. Hanjin Heavy said in a statement that Dutch firm Vroon B.V.
Baltic Exchange Seeks Mutual Status
The Baltic Exchange -- the world's oldest shipping market -- is seeking mutual status as a means to overcome conflicts between shareholders over the use of assets.
Attica Applies For Route Expansion
Passenger shipping firm Attica Enterprises applied last week to Greece's Merchant Marine Ministry for operating licenses on two domestic routes, promising hefty discounts on fares.
The Storm Before The Calm?
Advances in satellite communication product and service technology seem to have outpaced many of the markets they seek to serve. However, despite some jittery times…
Cyprus Complains To EC About Ship Detention Rates
Senior Cypriot maritime officials fended off criticism from delegates over the Cyprus fleet's detention rate, claiming the flag is being victimized. Cyprus has conveyed…
Panama Canal To Be Run As Business After Handover
The Panama Canal will be run as a competitive business for the benefit of the Panamanian people after it reverts to national control at year's end, the waterway's administrator said.
SS&Y's Atlantic Capesize Index Rises 186 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 186 points to 3,868 in the week ending Oct. 4. "The upward curve of the index remained steep…
