Moody's Ups Newport News
Moody's Investors Service upgraded the senior unsecured debt rating of Newport News Shipbuilding Inc. (NNS) to Ba1 from Ba2 to reflect the company's improving operating and cash flow performance…
Loss Of Contract Deals Blow To N. Ireland Economy
Northern Ireland's economy suffered a blow when the shipyard that built the Titanic lost its bid to build a new Queen Mary cruise liner. The loss to a French yard…
Daewoo Split: Painful But Necessary
The splitting of Daewoo Heavy Industries Co., the shipbuilding and machinery unit of South Korea's ailing Daewoo Group, into three firms should boost shareholder value, analysts said.
Asia Freight Seen Easing, But Demand Firm
Asian Panamax cargo rates for grains and minerals are likely to ease this week after a recent surge sent charterers to the sidelines, but demand in the Pacific market remains robust…
DNV Cleans Up With Millennium
The premiere vessel to be built to DNV's new voluntary class notation Clean Design is Royal Caribbean International's (RCI's) Millennium - the first of a new series of green ships for RCI.
ABN AMRO Raises 2001 Earnings Estimates For Offshore Drillers
ABN AMRO raised its 2001 earnings estimates for several offshore drillers and said the oil service industry was in the early stages of a multiyear growth phase.
Financing Sources For U.S. Ferries: U.S. Government Programs
By Todd D. Dyer Ellis & Joseph, P.C. Recent growth in ferry construction, particularly in the U.S., has been significant. The U.S. Department of Transportation recently reported that the U.S.
Cruise Safety Enviro Record Good
Despite a rash of failures at sea and high-profile legal cases regarding illegal dumping, cruise shipping remains one of the safest and environmentally conscious modes of transportation available…
Offshore Recovery Stalled For Now
As crude oil prices reach Gulf War highs and recent memories of historic low crude prices fade, capital spending on finding and developing new oil reserves continue to play catch up.
Cruise Council Unanimously Adopts New Safety Policies
The 17-member cruise lines of the International Council of Cruise Lines (ICCL) submitted to the International Maritime Organization (IMO) three new policies addressing…
P&O Reports Profits Are Flying High
Peninsular & Oriental Steam Navigation Co. posted full-year profits ahead of expectations last week, and said the recently announced demerger of its cruises division would be completed in October.
Japanese Shipyard Orders Soar
Japanese shipyards received foreign orders for 25 vessels totaling 955,050 grt in February, up from five orders totaling 271,200 grt in February last year, the Japan Ship Exporters' Association said.
FedEx To Enter Ocean Shipping Business
FedEx Logistics Inc reportedly will enter the oceanshipping business. FedEx Logistics will arrange the global logistics of ocean freight but Gunn did not say when this will start.
Romanian Yard Close To Contracts
Romanian Black Sea shipyard Santierul Naval Constanta reportedly is close to clinching shipbuilding contracts worth the equivalent of $32 million with two big German companies this year.
PCA Seeking Ways To Safeguard Water
The Panama Canal Authority (PCA) inaugurated an inter-institutional commission charged with safeguaring the trade route's vital supplies of fresh water into the future.
Milford Haven Port Wins Sea Empress Fine Challenge
Britain's record fine for pollution, imposed on a port authority after a crude tanker ran aground in 1996, was slashed by the Court of Appeal. After a one-day hearing…
Small Spill After Tankers Collide Off Louisiana
The U.S. Coast Guard said that shipping operations at the Southwest Pass, off Louisiana, were not affected by a minor crude oil spill after two crude oil tankers collided on Wednesday evening.
P&O Profits Flying High
Peninsular & Oriental Steam Navigation Co. posted full-year profits ahead of expectations last week, and said the recently announced demerger of its cruises division would be completed in October.
Petromarine Calls Upon Niestern Sander
French shipowner Petromarine has ordered Niestern Sander to construct a third tanker wider than 52 ft. (16 m). Built under hull no. 813, the 12,200-dwt vessel is…
Capesize Holds Steady, Panamax Drops
Capesize rates remained very steady worldwide, but panamax rates were weaker in the Atlantic, brokers said. There were unconfirmed reports that Navix had fixed Belmaj 149…
