New Icebreaking Tanker Completes Trials
The first in a new fleet of Russian icebreaker oil tankers being built in St. Petersburg is reported to have successfully completed Arctic trials. Dmitry Yakovenko…
ACL Buys ConAgra Barge Fleet
ConAgra Inc., the second largest U.S. food manufacturer, said last week it agreed to sell American Commercial Lines LLC (ACL) its large U.S. inland barge fleet and operations.
EU Fines 15 Leading Shippers For Collusion
The European Commission said on Tuesday it had fined 15 liner shipping companies a total of just under $6.3 million for agreeing not to offer discounts from their published tariffs.
NKK, Hitachi Zosen To Join Shipbuilding Operations
Leading Japanese steel maker NKK Corp. and major heavy machinery and engineering firm Hitachi Zosen Corp. will consolidate their shipbuilding operations. The move…
Vosper Profits Up, Order Book Filling
UK shipbuilder Vosper Thornycroft Holdings Plc, reporting a three percent rise in annual profits, said it would soon have an order book in excess $1.5 billion. Pre…
Independent Online Shipping Exchange Launched
Shipping finance specialist Tufton Oceanic is reportedly launching an independent web-based shipping chartering exchange with a group of e-commerce and investment companies.
P&O Loses Tax Appeal
P&O on Friday lost an appeal concerning whether or not VAT tax should be charged on items sold on journeys between European Union (EU) states. P&O had claimed that…
Bergesen Forecasts Strong Tanker Markets, Less Scrapping
Norwegian shipping group Bergesen d.y. ASA predicts that tanker markets would stay strong due to good demand for oil, but that the number of vessels sold for scrap would fall in 2000.
SS&Y Capesize Indices
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 243 points to 5,259 in the week ending May 8. "The Pacific Capesize index fell after the holidays in the Far East…
Offshore Rig Count
Offshore rig counts continue to rise, according to Offshore Data Services' weekly mobile offshore rig count. The U.S. Gulf's offshore rig utilization rate jumped…
Bulk Carrier Trends: Panamax Activity On The Rise
The dry cargo freight market was enlivened by a higher degree of Panamax activity in most areas, while Capesize conditions remained subdued with little fresh business quoted and few fixtures reported…
Tanker Trends: Markets Lose Steam During Asian Holidays
Tanker markets cooled as Asian holidays took the steam out of recent strength, but some brokers saw it starting to simmer again last week. Holidays in Japan and…
Bolivia's Shipping Hopes Hit Snag
Landlocked Bolivia's attempts to access international shipping business has hit a snag with the suspension of its ship registry office in Greece, representatives…
Shipping Groups: A Need For Better Policing
The eight main shipping organizations said they have agreed the need to set up better self-policing and accident investigation procedures after the Erika pollution incident off France.
$300M Oil Rig Ordered
Oil and shipping conglomerate A.P. Moeller has placed a $300 million order with a South Korean shipyard for a new jack-up oil rig for its Maersk Drilling unit. Officials…
E-commerce Briefs
Autoship Systems, per its partnership with Stargate, an ISP/ASP provider, has developed jointly a web site whereby their loading planning software, LPS, can be used remotely.
Nedlloyd Posts Loss
Dutch shipping firm Koninklijke Nedlloyd Groep NV posted a first-quarter net loss of $15.4 million, but said it expected full-year results from ordinary activities…
Maritrans Reports Loss
Maritrans Inc. reported a net loss for the quarter ended March 31, 2000, of $67 thousand or $.01 diluted loss per share, on revenues of $30.7 million. This compares to the quarter ended March 31…
State Approves Funds For Dredging
The Florida House and Senate on May 3 approved spending $3 million to dredge the Miami River. The vote, awaiting Gov. Jeb Bush's signature, sets the stage for the…
Business Briefs
OPEC President and Venezuelan Energy Minister Ali Rodriguez dismissed another increase in crude oil output in July, quelling speculation that a recent price spike…
