Hyundai Merchant Marine Share Sale Helps Avert Bankruptcy
South Korea's Hyundai Engineering & Construction sold $33.47 million worth of shares in Hyundai Merchant Marine on Wednesday as part of efforts to raise capital to avert bankruptcy.
Cammell Laird Close To Luxus Cruise Ship Contract
Cammell Laird Holdings, which has been a strong shipbuilding and repair success story for several years, announced that it was to build two cruise ships, breathing…
Rolls-Royce, Northrop Grumman And DCN To Produce New Marine Engine
Northrop Grumman Corp. and Rolls-Royce have signed an agreement with the French marine engineering company DCN to market and produce the WR-21 marine gas turbine engine.
P&O In Deal To Operate NY/NJ Terminal
UK shipping firm Peninsular & Oriental Steam Navigation Co on Wednesday said it had joined forces with its 50 percent owned P&O Nedlloyd to operate the New York/New Jersey terminal on a 30-year lease.
Oil Freight Charges To Go Higher?
Bloated oil freight charges could surge yet higher this year, adding to the already inflated cost of world oil imports, shippers said. Tanker brokers are predicting…
Tanker Not An Environmental Disaster Yet
Environmental disaster has been averted for now but France is taking no risks after a tanker carrying thousands of tons of toxic chemicals sank off the Normandy coast…
U.S. Warships Avoiding Suez Canal After Cole Blast
U.S. military vessels have not been using the Suez Canal since the alleged suicide attack on the USS Cole on Oct. 12, but U.S. and Egyptian officials are working…
S&P May Cut Coflexip SA BBB-Plus Rating
Standard & Poor's placed on CreditWatch with negative implications its triple-'B'-plus long-term corporate credit rating on Coflexip S.A., the parent company of the Coflexip Stena Offshore group.
Grandeur Of The Seas Loses Power Near Curacao
The Royal Caribbean International cruise ship Grandeur of the Seas experienced a loss of electrical power while approximately 7.5 miles outside of Curacao. "The ship's 2…
SS&Y Indicies Rise
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 102 points in the week ending Monday to 5,828. "Tonnage in the Pacific remained in tight supply," SS&Y said.
Firefighters Extinguish Tanker Blaze
Firefighters extinguished a fire which broke out on the Panamanian-registered tanker Sea Wolf 1 off the Greek port of Piraeus on Monday, injuring one crew member, the Merchant Marine Ministry said.
Bulker Refloated
The St. Vincent and Grenadines-flagged bulker Pooja, was refloated on October 30 at Carrick roads by a tug and then towed to Falmouth, England, Reuters reported. No pollution was reported.
Samos Refloated
The Bahamas-flagged bulk/oiler Samos was refloated on October 28 one mile below mile negative one, on the Mississippi river, U.S., Reuters reported. The 54,500 dwt…
Baker Hughes Profits Surge 456%
Driven by decade-high oil prices, industry leader Baker Hughes Incorporated reported operating profit after tax from continuing operations for the third quarter of 2000…
Aker Maritime Reportedly To Sell Subsea Ops
Aker Maritime is reportedly set to sell its subsea operations for $620.7 million to France's Coflexip, Reuters reported Norway's NRK public radio as saying. It said…
Halter Lays Keel For PCTC
Pasha Hawaii Transport Lines (PHTL), which is building a Jones Act Pure Car and Truck Carrier, at Halter Marine, reported that an important step in the creation…
Kvaerner Appoints Smith VP Business Development
In another significant executive move at its Philadelphia shipyard, Kvaerner announced the appointment of Brian M Smith, as Vice President, Business Development.
IEA Will Convene If Baghdad Balks
The International Energy Agency (IEA) said it would convene immediately to respond if Iraq halts 2.3 million barrels per day (bpd) in exports and warned such a move…
Jones Act Waiver Not Likely
Efforts by U.S. officials and oil firms to waive Jones Act shipping requirements and increase available oil tankers to the Northeast are so far dead in the water, the U.S.
U.K. Orders Six RoRo Ferries; Four Amphibious Ships
The British government placed much-anticipated contracts for six RoRo ferries with two going to UK yards, and four going to a German shipyard. Defense Secretary…
