Cruise Lines Face Y2K Conundrum
The world’s biggest cruise lines have made their own computers shipshape against Year 2000 glitches but still face possible electronic squalls arising from problems…
Offshore E&P Spending To Rise 15% in N. America
Offshore oilfield service stocks, to put it mildly, have endured a wild ride for much of 1999. The once high-flying sector actually hit the skids in concert with the late 1997 Asian financial crisis…
Maritime 2000 and Beyond
The changeover to 2000 means many things to many people, on both a personal and professional level, as the end of the millennium serves as a handy measuring stick…
Carnival Weathers Kosovo Crisis, Posts 4Q Profit Rise
Carnival Corp. officials reported that the company weathered the last ill-effects of a European downturn from the Kosovo fighting and posted an 8.1 percent increase in fourth-quarter share profits.
Clean Tankers Headed Both Ways Across Atlantic
Oil products tankers have reportedly been getting business in recent days transporting oil products from Europe to America and the reverse direction. Usually the arbitrage works only one way…
Daewoo To Build ULCCs For Loews Unit
Daewoo Heavy Industries has agreed to build two 442,500 dwt, ULCCs for Majestic Shipping Corp., a subsidiary of Loews Corp. Majestic also has options with Daewoo to build two additional vessels.
French Officials Demand Stricter Maritime Regulations
French Environment Ministry Officials have demanded tougher maritime laws as thick fuel oil from a tanker that split up one week ago edges closer to the country's Atlantic coastline.
Chief Officer Was Drunk When Ship Ran Aground
The Polish chief officer of a cargo vessel that ran aground off the coast of Scotland reportedly admitted that he was drunk at the time. Jerzy Pawluk pleaded guilty…
Danube Blockage Seen Lasting Through Winter
The collapsed bridges blocking the River Danube since NATO's March-to-June bombing of Yugoslavia are likely to remain there through the winter, sources said. Despite…
Star Surprises NCL With Takeover Bid
Singapore-listed Star Cruises Plc launched a surprise takeover bid for Norway's NCL Holding ASA on Dec. 17, after U.S. giant Carnival Corp. bowed out of a battle for control.
Shipowners Pool Tankers To Become More Flexible
A group of leading shipowners are pooling their large oil tankers in a move to offer customers "one-stop shopping," officials of the newly-formed Tankers International said…
Govan Shipyard Warned That Future Depends On New Orders
BAE Systems Plc warned that future employment prospects at its Govan shipyard near Glasgow are wholly dependent on new orders being won. The group was announcing…
Shipsales Boost Finland's October Trade Surplus
Finland posted a record monthly trade surplus for October, boosted by a major deal by one of its shipyards and accelerating economic recovery. The customs board's…
SS&Y Capesize Indices Mixed
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 16 points to 4,444 in the week ending Dec. 13. "Rates in the Pacific have remained on or around…
Gulf Of Mexico Rig Count Declines
The U.S. Gulf of Mexico rig count declined for the first time in four weeks, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191 rigs deployed in the U.S.
Capers Continue Firm, Uncertainty Rules Panamaxes
Conditions for Capesize vessels remained firm on Dec. 10, especially in the Atlantic, but uncertainty ruled the Panamax sector as owners sought to cover their vessels in advance of impending holidays…
North Sea Rates Surge On Holiday Vessel Shortage
North Sea oil tanker rates surged spectacularly again on Dec. 13 on a shortage of vessels available before Christmas, shipping brokers said. Aframax 80,000 ton vessel…
VLCCs Wait For Iraqi Oil, Suezmaxes Poised For Flurry
The expected return of Iraqi oil dominated the 250,000 ton tanker market in the Middle East toward the end of the week, shipping brokers said on Dec. 10. But rates…
Carter To Panama: 'It's Yours'
Former U.S. President Jimmy Carter symbolically placed the Panama Canal into Panamanian hands last Tuesday with the simple words, "it's yours," granting the tiny…
Ports Stress Need for Federal Government Partnership
U.S. public ports testified at a hearing before the House Transportation and Infrastructure Subcommittee on Water Resources and Environment about the continued need…
