Finnish Ports Get Back To Normal As Strike Ends
Traffic at Finnish ports and on the road was returning to normal Monday after a five-day strike by around 10,000 Finnish transport workers ended late March 2, officials said.
South Australian Ports Sale Faces Political Storm
The South Australian government expects strong bidder interest in its planned $120 million sale of the state's main ports, but the privatization is facing a political storm.
Hvide CEO Hospitalized
Hvide Marine Inc. chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery Monday. Hvide, which provides marine support and transportation services…
P&O Plans Associated Bulk Carriers IPO
An initial public offering of Associated Bulk Carriers on the Oslo stock exchange is expected to take place later this year, Peninsular and Oriental Steam Navigation Co. officials said.
French Government, TotalFina Targeted In Erika Protest
Thousands of protesters from western France marched through Paris on April 1 to demand tighter shipping laws in the wake of the Erika oil tanker spill, which devastated parts of their region.
Planned Tanker Ban Could Put European Oil Supply At Risk
European plans drawn up in the wake of the Erika accident to crack down on aging tankers could endanger shippers' ability to supply oil to the continent, shipping analysts said.
Tanker Rates React To OPEC
Tanker rates to the West firmed as charterers and operators took on board the implications of OPEC's decision to raise oil output, brokers reported. Rates of W68.5 ($11.50 per ton) for 280…
USCG Sets Safety Zone Around Shell Rigs
The U.S. Coast Guard will establish safety zones around seven of Shell Oil's Gulf of Mexico high-production oil and natural gas platforms, at the company's request…
BDI Up 9
The Baltic Dry Index (BDI) rose nine points to 1,660, the Baltic Panamax Index gained four points to 1,557, the Baltic Handy Index firmed six points to 1,157, and…
OPEC Strives For $22-$28 Barrel
Venezuelan Energy and Mines Minister Ali Rodriguez said that OPEC had agreed to defend a price band of $22 to $28 per barrel for its basket of crudes in a bid to stabilize prices.
Ferry Builder Bought
Babcock International Group Plc unit Babcock Engineering Services said it has bought high-speed ferry manufacturer FBM Marine Holdings (UK) Ltd from the Hong Kong Parkview Group.
Frontline Buys Two Tankers
Norwegian shipping firm Frontline is to buy two 1993 tankers from Wilh. Wilhelmsen for a total of $90 million in shares and cash. It will reportedly pay Wilhelmsen…
SS&Y Capesize Indices
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 45 points to 5,284 in the week ending March 27. "The Pacific sector remains tight, with owners…
Offshore Rig Count
U.S. The Gulf of Mexico rig count continues to rebound, and this week reached its highest level since July 1998, according to Offshore Data Services' weekly mobile offshore rig count.
Dry Bulk Trends
The dry cargo freight market was generally little changed last week, with Capesize conditions remaining basically steady but quiet, brokers said. Panamax activity was brisk from South America…
Tanker Trends
Strong demand for VLCC tankers in the Middle East failed to create a massive breakout in rates, but owners were happy as bunker fuel prices continued to fall, brokers said early last week.
Strikes Hinder Finnish Trade
Finnish exports and imports were almost at a standstill last week as a strike over a wage claim by transport workers supported by stevedores and seamen went into a second day.
Bulknet.com Gets Backing For Internet Site
The chief executive of Bulknet.com will shortly close a $25-$30 million round of financing for his month-old Internet site, which he hopes will dominate online bookings for chemicals shipping.
Norway's Jotun Makes 'Quantum' Strides
With TBT paints on the endangered list due to environmental concerns, shipowners must find an alternative method to keep ships coated and efficiently clean. Jotun believes it has the answer.
EU Welcomes Tighter Rules
European Union transport ministers welcomed proposals to tighten safety rules for oil tankers in the wake of the disastrous Erika oil spill off France's Atlantic coast last year.
