Insurance Market To Back Reform
The International Underwriting Association, Lloyd's and the Lloyd's Insurance Brokers' Committee have unveiled a jointly agreed program to reform business processes in the London insurance market.
Banking Sector Feels The Effects Of Consolidation
The number of major banks involved in the shipping industry has decreased substantially over the last few years. According to Michael Parker, managing director of Citibank…
SS&Y Indices Drop
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index was down 62 points in the week ending Monday to 6,019. "Another quiet week in terms of inquiry, which…
Ship Pollution Takes Center Stage In Europe
Smoke from Europe's ships is fast becoming the biggest source of acid rain-causing sulfur pollution, a recent report said. By 2010 ships will account for 30-40 percent…
Grain Trading Is Quiet
Grain fixing for Iran continued to hold interest in an otherwise quiet sector, brokers said on Monday. IRISL fixed unnamed tonnage to lift 50,000 tons wheat from St.
Bulker Under Tow
The Malta-flag bulker XL has been taken under tow by a tug and is bound for Singapore, Reuters reported. The 150,661-dwt bulker had been drifting off northwestern…
Abidjan Port Head Axed
Ivory Coast's new government has replaced the head of the country's main port of Abidjan, who was appointed by the former military administration, state media reported.
Iraq
Iraq has set the stage for enough snags in its oil-for-food export program to keep overheated oil markets nervous about possible export disruptions until mid-January…
McKeil Marine Sells Tug
McKeil Marine Ltd. of Hamilton, Ontario has sold its twin screw, 105' x 25' tug Offshore Supplier to Thompson Shipping Co., Ltd. The 910-bhp tug was originally built…
BP Amoco Awards Offshore Contracts
BP Amoco selected two companies to provide $1 billion worth of construction work on a number of its deepwater oil projects in the Gulf of Mexico. The company selected J.
CP Ships Continues New Ship Spending Spree
CP Ships has taken the next step in its major fleet re-building program by signing a contract with China Shipbuilding Corporation of Taiwan for the construction of five geared 3…
