IEA: Carbon Emissions Set to Rise Steadily
World energy use will grow by a steady two percent a year from now till 2020, and carbon dioxide emissions which contribute to unwanted climate change will rise at about the same rate.
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…
IMC To Construct $32.1 Million Chem Tanker
Shipping and trading company IMC Holdings Ltd. on Thursday said it plans to build a $32.1 million chemical tanker in China, scheduled for delivery on May 31, 2003.
EU Blames South Korean Yards For Low Prices
The European Union on Wednesday blamed low prices offered by South Korean shipyards for the depression in the world shipbuilding market and accused Korea of pricing ships at below cost.
P&O Steam Navigation's 3Q Profits Jump
UK shipping company Peninsula & Oriental Steam Navigation Co Plc said on Thursday its 50 percent owned P&O Nedlloyd joint venture had shown a big jump in third quarter…
Intertanko Prepares To Mull EC Proposals
The tanker owners' organization Intertanko, said on Thursday it is ready to discuss proposals by the European Commission to keep ships in port during storms - a…
Navy Cruiser Arrives At Bender For Repair Work
Bender Shipbuilding & Repair Co. signed a contract for the drydocking and repair of USS Yorktown. The Ticonderoga Class Guided Missile Cruiser, which was built at…
ExxonMobil Still Chartering Single Hulled Tankers
U.S. oil giant ExxonMobil continues to charter single-hull tankers for its oil, tanker brokers said on Thursday. ExxonMobil has been in the market for a five-year time-charter since late August…
Au Steps Down As President Of Star Cruises
Malaysian leisure liner group Star Cruises said on Thursday its president and chief executive Colin Au has stepped down due to medical reasons. "Star Cruises wishes to announce that Mr.
Mexican Oil Facilities Reopen To Shipping Traffic
The Mexican oil export facility at Pajaritos in eastern Veracruz state reopened to shipping traffic early on Thursday and the nation's three other oil ports were operating normally…
