Rising Bunker Prices To Push Worldscale Rates Up
Increasing bunker prices will push Worldscale tanker rates up by around 1.5 percent next year but prices on some routes will fall due to lower port dues and exchange rate fluctuations…
Houlder Sells Holdings In Tanker Broker Panel
Shipbroker Howard Houlder (Chartering) Ltd. has sold its shareholdings in the London Tanker Broker Panel back to the other five members of the rate-setting group…
Japanese Foreign Ship Orders Increase
Japanese shipyards received in October foreign orders for 44 vessels totaling 1,583,880 gt, the Japan Ship Exporters' Association reported. The tonnage jumped 728.4…
Oil Firms To Keep Spending Tight Despite High Prices
The absence of quality new merger opportunities will force oil companies to keep spending tight even though this year's oil price recovery has given them far more cash to work with, analysts said.
St. Helena Faces Bleak Holidays After Supply Ship Breaks Down
St. Helena island, an isolated British dependency where Napoleon spent his final years in prison, is facing a grim Christmas and millennium New Year's after its…
Mideast Oil Exports Needed To Pull VLCC Rates Up
A resumption in Middle East oil exports to the U.S. is required to drag VLCC tanker rates off the floor, shipping brokers said. A late start to seasonal westbound…
California Sues For Say In Fate Of Drilling Leases
California's governor, attorney general and the California Coastal Commission filed a lawsuit against the U.S. Interior Department to allow the state a say in the…
Holland America Hires Fincantieri For Two Ships
Holland America Line has hired Italian shipbuilder Fincantieri Cantieri Navali SpA to build two new 84,000-ton cruise ships for about $400 million each. The ships…
Minoan Buys Four Ferries
Minoan Flying Dolphins acquired four ferries operating on routes to the Cyclades islands and the Argosaronic gulf. The vessels, which link the port of Piraeus with Paros…
Aker Yards Wins Cruise Ship Deal
Aker Yards has announced that the Aker MTW Werft GmbH yard in Germany has won a $377.9 million deal to build two cruise liners. The liners, ordered by Aida cruises Ltd., will be 662.7 ft.
Leif Hoegh To Buy Remaining Stake in Unicool
Leif Hoegh & Co. ASA announced plans to buy the remaining 50 percent of reefer operator Unicool, in which it already holds a 49.8 percent stake. Final negotiations…
Bergesen Orders Ore Carrier From Daewoo
Bergesen d.y. Group ASA ordered a 175,000 dwt reinforced ore carrier from Daewoo Heavy Industries Ltd. for $42 million, with an option for an additional ship. Forty…
Global Marine to Fund Belfast Shipyard
Global Marine Inc. has agreed to provide working capital for Harland and Wolff Shipbuilding and Heavy Industries Ltd so the Belfast, Northern Ireland, shipyard can…
Hong Kong Shipping Sector Set For Y2K
Hong Kong's shipping industry is well prepared for a smooth transition to 2000, but local operators cannot guarantee their vessels are Y2K compliant, according to the Hong Kong Shipowners Association.
Litton Marine Systems Wins IBS Orders
Litton Marine Systems has received orders to supply integrated bridge systems (IBS) for two new cruise ships for Royal Caribbean International. The two vessels are…
LR Selects New Finance Director
Lloyd's Register (LR) has appointed Robert Biddle as group financial director, effective November 1. Biddle succeeds Christopher Gomm, who recently retired and will…
Oceaneering To Provide Offshore Unit
Oceaneering International has been awarded a contract to provide a mobile offshore production unit (MOPU) for development of the Legendre North and South oil fields…
Vickers Ulstein Wins Design And Equipment Packages
Vickers Ulstein Marine Systems' specialist offshore design company, Ulstein Ship Technology, has signed three separate contracts to supply designs and equipment packages for offshore support vessels.
Intereuropa Shares Down Amid Merger Doubts
Slovenian shipping firm Intereuropa fell over four percent by midday trade on Wednesday amid fears that the government may not approve its proposed merger with port operator Luka Koper.
British Group Wins Contract For Management Of Mozambique Port
Mozambique has awarded a British consortium a management contract for its Maputo port, including a 15-year lease, according to the British High Commission. Officials…
