Variety Of Vessels Acquired
OMI Corp. has agreed to attain one of two Suezmax tankers currently under construction in Korea from Mega Tankers ASA of Oslo. The second tanker is being acquired by Frontline Ltd.…
Hempel Gears Up For Y2K
Known for its place in the marine and industrial protective coatings industry, the Hempel Group is scheduled to open a new state-of-the-art production facility in early 2000.
Transcoastal Marine Third Quarter Results Reported
TransCoastal Marine Services, Inc. reported revenues of $25.7 million for the quarter ended September 30, 1999 compared to revenues of $44.9 million for the same quarter in 1998.
Pegasus Shipping Mulls Restructuring
Panamax tanker specialist Pegasus Shipping is discussing the restructuring of its $150 million 1997 junk bond issue with noteholders. "Pegasus Shipping...is holding…
Stena Buys Scandlines
Ferry operator Stena Line purchased smaller Swedish ferry group Scandlines AB from the state owned railway group SJ for $67.5 million. Scandlines, with 1,180 staff…
Adsteam Performance Ahead of Last Year
Adsteam Marine Ltd. is performing better than in the same period last year, but company officials said no decision has yet been made on or not to sell the firm's stake in Holyman Ltd.
Premuda To Use $30M Bond To Buy Ships
Italian shipping company Premuda SpA has completed a $30.9 million bond issue in order to acquire more ships. The bond issue will give Premuda greater liquidity…
Moody's May Upgrade Royal Caribbean
Moody's Investors Service placed the long term debt ratings of Royal Caribbean Cruises Ltd. on review for possible upgrade based on its improved debt protection measures…
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…
