Kuoni/INTRAV Deal Finalized
Swiss-based Kuoni Travel Holding Ltd. finalized its $115-million acquisition of INTRAV, the U.S. luxury tour operator, and its subsidiary, Clipper Cruise Line, which are based in St. Louis.
Plan To Reduced Overhead Announced
BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions…
Safford Promoted To Exec. VP
Blue & Gold Fleet L.P. has promoted Taylor Safford from vice president of finance and administration to executive vice president of finance administration. In his newly appointed position…
Curriculum Restructured
The president of SUNY Maritime College stated that the institution is redesigning its curriculum and refocusing its mission to meet the needs of students and the…
NOL Appoints Two Senior Managers
Neptune Orient Lines Ltd, (NOL) has hired two veteran officials at Sea-Land Service as senior executives in its container transportation arm, APL. Edward W. Aldridge…
Finnlines Reports 62 Percent Profit Drop
Finnlines reported January-August profit before extraordinary items falling to $54 million from $141.7 million. Finnlines' four-month results in May showed profits plunging…
Holyman To Support New Adsteam Offer
Ferry and transport group Holyman Ltd. will recommend a revised 65 cents a share cash takeover offer from Adsteam Marine Ltd. in the absence of a higher offer. Earlier…
NCL Expects $5.9 M Loss After Grounding
Officials of NCL Holding ASA announced that the company expects losses from the grounding of its Norwegian Sky vessel off Canada last week to total $5.9 million…
NOL Management Changes Causes Shares Rally
Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10 percent last Tuesday on optimism over recent management changes, dealers said.
Moody's Rates Mitsui O.S.K. Lines Stable
Moody's Investors Service changed to stable from negative the outlook of its Ba1 senior unsecured debt rating and (P)Ba1 Japanese shelf registration rating of Mitsui O.S.K. Lines, Ltd.
Kirby Expects $10M A Year Savings After Acquisition
Kirby Corp., the nation's largest tank barge operator, expects to save at least $10 million per year due to its acquisition of Hollywood Marine Inc. Kirby agreed…
Moody's Comments On Sea Containers' Market Position
Moody's Investors Service assigned a Ba3 rating to Sea Containers Ltd.'s new $150 million senior notes, confirmed the Ba3 rating on its existing senior notes and…
'Buy' Rating Reiterated For Cruise Shares
Shares of cruise stocks, Carnival Corp. and Royal Caribbean Ltd., have traded down recently, with a sharp pullback following the recent release of the Consumer Confidence Survey.
Blueprint For Transportation System Unveiled
Addressing a projected increase in waterborne commercial vessel traffic that is expected to double or triple over the next 20 years, U.S. Secretary of Transportation Rodney E.
South Korean Foreign Ship Orders Drop
New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show.
Investigators Seek Cause Of LPG Tanker Blast
An investigation is underway into the cause of an explosion aboard a Liberian-registered LPG tanker that killed five people and injured eight others in a Philippine shipyard facility on Oct.
MSC Marks 50 Years Of Service
"MSC has been conspicuous because its people and ships generally have been where the action has been." Rear Adm. Rear Adm. Keener made this observation on the U.S.
Shipowners Say Industry Is Being Choked By Legislation
International shipowners said the maritime industry is being choked by legislation and that they are unfairly targeted as the culprits for all ills in the sector.
SembCorp Industries Looks To Become A Global Contender
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses…
Analysts Say Norwegian Offshore And Shipping Stocks Are Now A Good Buy
Norwegian offshore oil and shipping stocks are a good buy for investors who have time to wait to realize profits, according to analysts. Four out of six analysts…
