Finland's Spring Could See Shipping Strikes
The 10 percent of Finland's workers who still have no pay deal for this year are digging in their heels in preparation for strikes, which could have serious effects on the Finnish economy.
India Eases Chartering Rules
Indian shipping companies can now charter out their vessels to foreign companies without prior government approval, a Surface Transport ministry official said. He said the Department of Shipping has…
Bulgaria Tries Again To Sell Shipyard
Bulgaria opened a new tender for an 80 percent stake in the state-owned shipyard in the second biggest Black Sea port of Bourgas and set a March 15 deadline for bids.
Vopak Reports '99 Net Down, Eyes Improvement
Dutch shipping and tank storage firm Vopak NV reported that its ordinary net profit fell by 5.3 percent in 1999, but said it expected improvements this year. Net…
Worldwide Capesize Rates Continue To Firm
Capesize rates firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of…
Talk Of Tanker Age Limits Gives Markets A Lift
Tanker markets continued strong at the end of last week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
ITIC Highlights The Perils Of E-Mail
Electronic communication is not totally secure despite a seemingly bug-free transition into 2000, warns The International Transport Intermediaries Club (ITIC). E…
USCG Codifies Single Hull Phase-out Requirements
In a notice of proposed rulemaking (NPRM), the USCG proposes to clarify and codify a policy it issued in April 1999 regarding phase-out dates for single hull tank vessels.
Shippers Form Working Group On Jones Act Conflict
The Maritime Cabotage Task Force (MCTF) and the National Industrial Transportation (NIT) League have reached agreement on the establishment of a joint working group…
BHI Restates Prior Results To Tune Of $31M
Baker Hughes Inc. has completed its review of the accounting issues previously identified at its INTEQ division and will restate prior period results by $31 million…
Ocean, NFC Merge
Ocean Group Plc has agreed to merge with rival NFC Plc to form a $4.4 billion logistics group with the world's second highest revenues. To be known as Exel Plc,…
1999 Container Trade Seen Mixed
Shipping container trade from Europe to Asia grew by 20 percent in 1999, but only by five percent for trade the other way, a senior shipping executive said. Tom Boardley…
Aker Maritime Sees Rise In Profits
Norwegian offshore services group Aker Maritime forecast a considerable rise in profits in 2000 after weak oil markets depressed earnings in 1999. "The low level…
Mitsui Marine, Sumitomo To Merge
Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance have agreed to merge by April 1, 2002, in a move that would create Japan's largest non-life insurer.
Iraq: Oil Prices Not Too High Yet
Iraqi Oil Minister Amir Muhammed Rasheed said that oil prices were not too high and accused the United States of overreacting to the rally. Rasheed also said that…
Surplus Of Chemical Tankers To Reduce Earnings
The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said.
IEA Concerned By Tight Oil Supply
The Governing Board of the International Energy Agency last week discussed the current restraints on world oil supply, the significant decline in oil stocks worldwide and the sharp rise in oil prices.
Pirates Beware: The Gurkhas May Be Lurking
A British firm is offering shipping companies the services of up to 300 ex-British Army Gurkhas to combat piracy, particularly in Asia. Anglo Marine Overseas Services Ltd.
Cruise Relations Get Chilly In Alaska
After a decade that saw the size of Alaska cruise ship crowds triple and pollution from the massive vessels foul area waterways, state officials are moving to blunt…
Washburn & Doughty Develops New Methods In Handling Large Contract
Washburn & Doughty Shipyard of East Boothbay, Maine is preparing to launch Tracy Moran, the fourth in a series of six Z-Drive Tugs under construction for the Moran Towing Corporation of Greenwich…
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