Odfjell Takes 50% Of Brazilian Shipper
Norwegian chemical tanker operator Odfjell last week acquired a 50 percent stake in Brazilian shipping company Flumar. Odfjell said the purchase would mean an investment…
CMB Expects To Sell Naviga Insurance
Belgian shipping company CMB expects to sell off its Naviga insurance unit within the next three months and book a significant capital gain. The company, which is…
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.
U.S., Brazil Close To Shipping Pact
A shipping agreement which was expected to be signed last Wednesday between the U.S. and Brazil reportedly will provide equal access to government business and nullify…
Freight Market Quiet
Few significant developments emerged on Wednesday as the dry bulk market appeared to be stabilizing in most areas, reflected in the latest moves of the Baltic indices, brokers said.
Weather Stops Crude Exports
Mexico's crude oil export ports Dos Bocas and Pajaritos in the Gulf of Mexico remained closed on Wednesday by bad weather, the Transport Ministry said. Winds of up to 85 kmph were whipping up 14-ft.
Transas Earns ECDIS Type Approval
Transas Marine has become the first company in the world to receive type approval for its NAVI-SAILOR 2400 ECDIS (Electronic Chart Display and Information System).
Transas Earns ECDIS Type Approval
Transas Marine has become the first company in the world to receive type approval for its NAVI-SAILOR 2400 ECDIS (Electronic Chart Display and Information System).
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…
Daewoo Fined For Intra-Group Trade
South Korea's Fair Trade Commission reportedly fined Daewoo Corp about $1.2 million last month for an unfair intra-group foreign currency transaction, in which Daewoo…
Pakhoed Plans To Issue Financing Preference Shares
Pakhoed NV will reportedly publish a prospectus for the issue of a maximum of four million cumulative financing preference shares. The issue price is approximately $1…
Hanjin Expects Increase In Sales
South Korea's Hanjin Shipping Co. expects its sales to rise by five to six percent to $3.5 billion in 1999 from a year earlier, according to company officials. Officials…
Kvaerner Appeals EC Ruling On State Aid Repayment
Kvaerner has reportedly appealed against a European Commission ruling that it must repay state aid of $44.8 million for alleged over-production at its Warnow shipyard in Germany during 1998.
SS&Y's Atlantic Capesize Index Rises 532 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 532 points in the week ending Monday to 4,400. SS&Y officials reported that the index is now nearly 1…
SS&Y's Pacific Capesize Index Rises 912 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 912 points in the week ending Monday to 4,199. Problems with a dedicated vessel loading at Richards Bay for South Korea…
Caper Boom Not Over Yet
There were no signs that the recent caper boom was over yet despite last Tuesday's relatively modest gain on the Baltic Capesize Index of 31 points to 1,753, brokers said.
Worldwide, Regional Offshore Rig Counts Show Little Movement
Worldwide and regional offshore rig counts showed little change since last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S.
Large Tanker Fixing Slows, Rates Soften
Large tanker fixing out of the key Middle East market slowed last week as charterers had largely covered their October liftings, resulting in the softening of rates…
Princess Cruise Business Is Strong
Peninsular & Oriental Steam Navigation Co. said its Princess Cruises business performed strongly in the third quarter with occupancy reaching 103.8 percent from 101.7 percent a year earlier.
Bossier Retires, Kitchen Takes Avondale Helm
Litton Industries announced that Thomas M. "Tom" Kitchen, a member of the Litton Avondale Industries management team, has been named president of Avondale to succeed Albert Bossier…
