Illegal Port Shut Down
Syrian authorities closed down an illegal port built by President Hafez al-Assad's disgraced brother Rifaat in the Mediterranean port city of Latakia, official sources said.
Japanese Foreign Ship Orders Up Sharply
Japanese shipyards received foreign orders for 38 vessels totaling 1,350,650 grt in September, up 175 percent from a year before, the Japan Ship Exporters' Association said last week.
Year's End Appears To Be Timely For Buying Cruise Shares
Now is the time to buy cruise shares, says a cruise industry review released by Lazard Frères & Co., which notes that although shares have been up and down in the…
Star Cruises Charters Vessel
Star Cruises Plc has chartered a vessel for three years for its Japan and South Korea operations starting in March 2000. The 950-passenger capacity vessel, MS Leeward…
Carnival Purchases Remainder Of Cunard
Carnival Corp. has exercised its option to purchase the remaining 32 percent minority interest in Cunard Line Ltd. in a deal worth about $205 million. Carnival acquired…
NCL Profits Double In First Nine Months Of Year
Norwegian cruise company NCL Holding ASA said on Wednesday pre-tax profits almost doubled in the nine months to September 30 amid firm market sentiment and strong demand.
Most Likely Y2K Scenario: Nobody Really Knows
Lawyers and the millennium computer bug are about to demonstrate again that it's an ill wind that blows nobody any good. If computers around the world succumb to the bug at midnight on December 31…
Recent Accidents Spur Industry Fear Of Legislation
The spate of recent accidents at sea involving high profile cruise ships has spurred fears among owners and operators that once again the long arm of the law will…
Silversea Poised For Growth
With the construction of new sister ships progressing as scheduled and the recently signed contract to manage the world's first ocean-going luxury residence, Silversea…
NNS Earnings Per Share Up 26%
Newport News Shipbuilding reported net earnings of $20 million, or $.58 per diluted share for the third quarter of 1999. Earnings before interest and taxes (EBIT) for the quarter were $47 million…
Mexico Calls For Output Constraints Past March
Mexico's is reportedly lobbying for major oil producers to hold their exports at little changed levels after their current production restraint agreement ends in March…
Bulk Carrier Sinks, Crew Rescued
All crew members of the bulk carrier Henry Navigator, en route to Cape Town, were airlifted to safety as the vessel capsized and sank in heavy seas. The 13,000 dwt…
Freight Rates Dip For First Time This Month
The Baltic indices indicated perhaps some changing conditions in the dry cargo market, with the Baltic Capesize Index falling for the first time this month on evidence…
Leif Hoegh Chalks Up 9-Month Loss
While Norway's Leif Hoegh reported a net loss for the first nine months of the year, it projects a break-even 1999. The firm reported a net loss of 37 million crowns…
IMB Warns Of Rampant Piracy In Indonesian Waters
Pirate attacks more than doubled in Indonesia in the first nine months of 1999, prompting the International Maritime Bureau (IMB) to warn mariners to take urgent precautions in Indonesian waters.
Davie Celebrates World Premiere Of Petrobras 36
The large semi-submersible production platform formerly known as Spirit of Columbus was rechristened Petrobras 36 on August 31. Following two years of diligent work by more than 1…
NASSCO Named Prime Contractor
National Steel and Shipbuilding Company (NASSCO), a General Dynamics company, has been appointed the prime contractor on $17.4 million in research and development…
Horizon To Construct Upgraded ISTT
Horizon Shipbuilding was awarded a contract to construct a series of 30 ft. (9 m) fiberglass Improved Surface Tow Targets (ISTT) for the U.S. Naval Air Warfare Center…
Finnlines Buys 16.6% Of Transfennica
Finnlines said it had bought forest industry group Stora Enso's 16.6 percent stake in shipping company Transfennica for an undisclosed sum. Finnlines said it and…
NCL Profits Double
Norwegian cruise company NCL Holding ASA said on Wednesday pre-tax profits almost doubled in the nine months to September 30 amid firm market sentiment and strong demand.
