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…
Cruise Lines Face Y2K Supplier Squalls
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…
Waukesha Announces New Appointments
Waukesha Engine Division has announced the appointments of William M. McCormick to vice-president, engineering and Lloyd S. Beauchamp to vice-president, sales. In his new position…
Frink Retires From Parker Drilling
Shelby Frink, vice-president of operations support, retired from Parker Drilling Company after 43 years of service with the company. He began his career with Parker…
Minoan Lines To Sign Loan
Ferry operator Minoan Lines will sign a $253.5 million syndicated loan jointly arranged by Citibank and National Bank of Greece to finance four highspeed ferries under construction…
Moody's Ups Transocean Offshore
Moody's Investors Service upgraded the senior unsecured debt ratings of Transocean Offshore, Inc. to A3 from Baa1 to reflect the significant benefits that the company…
Alstom To Build P&O Cruise Ships
Alstom won an order from P&O for two 1,000 cabin, 88,000 ton cruise ships. Although a price was not given for the deal, based on the current price range for cruise…
P&O Cruise Division Sees Strong Trading, Advances Plans For U.S Listing Next Year
The cruise arm of Peninsula and Oriental Steam Navigation Co. continues to experience excellent trading conditions, with total capacity up 14 percent this year, company officials said.
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