Canada May Aid Boat People Who Turn In Traffickers
Canada may offer landed immigrant status to boat people who agree to testify against the "human trafficking" rings that brought them illegally to the country's shores…
Dangerous Seas Ahead If Indonesia Breaks Up
Pirates and marauders will rule what are now Indonesia's territorial waters if the country disintegrates, increasing security risks to the whole region, Jakarta's…
Y2K-Related Delays Grip South African Port
Vessel and container handling delays spurred by fears over Y2K bug glitches are still hobbling operations at South Africa's Durban port, a senior shipping official said.
Taiwan Tanker Spill Minimal, Says Operator
The Greek operator of the Panamanian-registered oil tanker Devon confirmed that the ship had leaked oil off the southern Taiwanese port of Kaohsiung, but said only a small amount was spilled.
Siem Buys Option For NCL Shares
Siem Industries Inc. subsidiary Siem Leisure Industries Inc. acquired an option to purchase one million shares in cruise operator NCL Holding ASA. Siem said the…
LUKoil Tankers Shows Interest In Latvian Shipping
Latvia's Privatization Agency said Russian LUKoil Tankers have shown active interest in the sell-off of a 44 percent stake in Latvian Shipping. "We have had the…
Baltic Exchange Dumps Restructuring Plans
The Baltic Exchange is dropping plans to restructure the world's oldest shipping market as a mutual body. "The board has decided not to develop detailed proposals…
Capesize Momentum Likely To Continue Through End Of Year
The momentum in the Capesize shipping markets is likely to continue across the next month, shipping brokers said. However, continued rate strength in the New Year…
Depressed Rates Take Toll On Older Vessels
Low tanker rates are pushing increasing numbers of old VLCCs to the scrapyard, but not enough to counter deliveries of new vessels, shipping brokers said. "Depressed…
Panama Canal's Locks Stand Test Of Time
The man-made chasm, large enough to swallow the Titanic whole, yawns before him. To reach the bottom takes an elevator, a hard hat and no fear of heights. But for Ivan Lasso…
ISM Compliant Ships Make Fewer Claims: Insurer
Protection and indemnity (P&I), and hull insurer, The Swedish Club reported that a study it conducted showed direct evidence that ships complying with the International…
Market Secrecy Bad For Rates, Say Brokers
Increased secrecy in the tanker chartering market may be pushing rates lower, even though many brokers and owners like the idea of doing private business. Although…
NCL Turns Down Carnival's $1.7B Takeover Bid
NCL Holding ASA flatly rejected a 30 crown ($3.72) per share takeover offer from Carnival Corp, saying it undervalued the group's potential. NCL Chairman Kristian Siem…
Aker Maritime Aims For Savings Via Restructuring
Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its…
Daewoo Heavy May Join Engine Joint Venture
Daewoo Heavy Industries Co. has reportedly expressed willingness to join Korea Heavy Industries and Construction Corp. in a planned ship engine joint venture. Executives from Daewoo…
Sri Lanka Begins Building Berth At Eastern Port
The Sri Lanka Ports Authority has begun construction of a $16 million berth in the eastern Trincomalee Harbor to increase cargo handling, according to ports ministry officials.
Dresser-Rand Garners Propulsion Turbine Contract
Newport News Shipbuilding has granted Dresser-Rand Company a $9 million contract for the initial phases of production of the main propulsion turbines for the U.S.
Siemens Granted Order For RoPaxes
TT-Line Shipping Company has placed an order with SSW Fähr- und Spezialschiffbau GmbH of Bremerhaven for a pair of new RoPax vessels for a ferry service between Travemünde and Trelleborg.
Hellespont Places Order With Samsung
Piraeus-based Hellespont Shipping Corp. has contracted Samsung Heavy Industries for the first two vessels in a new class of VLCC's. The contract also calls for the…
Hyundai Orders Five MAN B&W Engines
The largest diesel engine ever designed has been requested by the Korean owner Hyundai Merchant Marine for propelling five 6,400 TEU container vessels. The five engines…
