The End Of Title XI?
On October 1, 1993, President Clinton announced his shipyard initiative, a five-part plan to assist shipyards in transitioning from their primary role as builders of Jones Act vessels and U.S.
Fincantieri To Build Ferry For SNCM
Italian shipbuilder Fincantieri has signed a contract with France's SNCM to build a 44,500 gt ferry to be used mainly on the Marseilles to North Africa routes. The new vessel will be 574 ft.
Bergesen To Buy LNG Carrier From Daewoo
Bergesen DAY. ASA plans to buy a liquefied natural gas (LNG) carrier from South Korea's Daewoo Heavy Industries Ltd. for approximately $150 million, company officials said.
Coflexip Stena, Kvaerner Finalize Acquisition Plans
Coflexip Stena Offshore, along with Kvaerner, is finalizing the acquisition of the business of Houston-based pipeline engineering company Kvaerner R.J. Brown (KRJB).
COSCO Pacific Reports Profit Increase
COSCO Pacific Ltd. reported its net profit rose 3.7 percent in 1999 from a year earlier to $134.08 million and added that it would step up investment in 2000. The company…
Tanker Groups To Pool Vessel Marketing
Two major clean oil product tanker operators will form a vessel pool to market each others ships on opposite sides of the world. Japan's NYK Line and International Product Tankers Ltd.
NOL Returns to Black, Sees Brighter 2000
Neptune Orient Lines (NOL) returned to the black in 1999 after suffering losses the previous two years, and CEO Flemming Jacobs said the shipping group could expect to sustain its profits in 2000.
Lazard Upgrades Stolt-Nielsen
Lazard Frères & Co. LLC recently upgraded shares of Stolt-Nielsen S.A. to Outperform from Hold on expectations of positive earnings beginning in 2001. Additionally…
Scandidor To Acquire Stake In Yard
Norwegian group Scandinor AS has signed a contract with Romania's main privatization agency, FPS, to acquire a majority stake in local shipyard Santierul Naval Braila.
Lauritzen Sells Unit To Management
Danish shipping and shipbuilding group J.Lauritzen Holding A/S has reached agreement on a management buyout of its Danyard Aalborg shipyard unit. "The sale will…
Waterway Traffic Jams Worry Turkey
A rise in sea traffic in Turkey's straits could strain what are already two of the world's busiest waterways, a government minister warned. The Bosphorus and Dardanelles straits…
P&O, Carnival Shares Begin Recovery
Shares in shipping operator Peninsular & Oriental Steam Navigation Co. moved to full speed ahead March 23, tracking a recovery course by U.S. cruise giant Carnival Corp., analysts said.
McMoRan, Halliburton Form Alliance To Develop 160 Gulf Of Mexico Blocks
McMoRan Exploration Co. and Halliburton Company have announced the formation of a strategic alliance to conduct operations for McMoRan's recently announced major…
Communication Breakdown
A British sailor failed in a risky attempt to help a French solo rower who has been facing a communications breakdown in heavy south Pacific seas since the Iridium…
Online Marine Camera Gives Underwater Views
For those who are curious about the undersea world but don't want to plunge beneath the waves, there is a safe and dry way to enjoy Neptune's realm. Images of the…
OPEC To Raise Output
OPEC has seemingly bowed to U.S. pressure for cheaper oil by agreeing to higher output limits, immediately agreeing to turn up the taps by 1.45 million barrels daily, or seven percent.
Pascagoula ... World’s Burgeoning Cruise Capitol?
Litton Ship Systems' Ingalls Shipbuilding division, located in Pascagoula, Mississippi, has signed a Memorandum of Agreement (MOA) with SeaAmerica Cruise Lines, Inc., based in Hollywood, Fla.
New Managing Director At Schottel
Dr. Detlef Reinsberg was elected the new managing director of Schottel GmbH & Co. in Spay/Rhine, Germany. Reinsberg, who began his career as a financial director with ABB in Manheim…
Metropolitan Stevedore Restructures
Metropolitan Stevedore, west coast stevedore and terminal operating company, has restructured with several promotions. Albert J. Garnier was appointed vice president…
BC Ferries Restructures Its Financials
As part of its financial restructuring package, Canadian-based BC Ferries will sell off its three PacifiCats ferries in order to remove its $1.1 billion debt. A…
