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 top company officials said the shipping group expects to sustain its profits in 2000.
P&O, Carnival Shares Begin Recovery
Shares in shipping operator Peninsular & Oriental Steam Navigation Co. moved to full speed ahead on Thursday, tracking a recovery course by U.S. cruise giant Carnival Corp., analysts said.
Osprey Maritime Plans $70M Injection
Shipping group Osprey Maritime Ltd. plans a proposed $70 million injection of new equity together with a major restructuring, a company spokesperson reported. The…
Bergesen To Buy LNG Carrier From Daewoo
Bergesen D.Y. 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.
Carnival Earnings Warning Triggers Sell-Off
If it's darkest before dawn, than it is nearly daybreak at Carnival Corp. The company's stock price has been severely punished since the beginning of the year for seemingly phantom reasons.
U.S. Continues To Pressure OPEC
Oil resumed its slide on Wednesday as Washington kept up pressure for a big OPEC output rise to prevent a politically-damaging U.S. gasoline shortage. International…
EU Proposes Tight Shipping Law To Prevent Future Oil Spills
The European Union's (EU) executive body on Tuesday proposed tightening EU shipping laws to prevent a repetition of the environmental disaster caused by the breakup…
S&P Revises American Commercial Lines Outlook
Standard & Poor's today revised its outlook on American Commercial Lines LLC - the largest operator of dry bulk commodity barges - to negative from stable. At the same time…
Carnival Signs Letter Of Intent With Fincantieri
Miami-based Carnival Corp. said on Wednesday it plans to build a new $500 million, 110,000-ton ship in Italy for its cruise lines unit. A Carnival spokesperson said…
Transocean Sedco Forex Gets BP Amoco Contract
An operating subsidiary of Transocean Sedco Forex Inc. has entered into a contract with BP Amoco for the semisubmersible Transocean Rather. The agreement covers one well…
Oilfield Stocks Take A Hit As Crude Dips Below $30
Profit-taking hit oilfield service and drilling stocks on Monday as U.S. crude oil prices shed over a dollar to dip below $30 a barrel for the first time since February 28.
NOL Shares Surge, 1999 Results Seen Strong
Shipping and logistics group Neptune Orient Lines (NOL), which lost more than half its market capitalization since the start of the year, saw a staggering 26 million shares traded on Tuesday.
Kvaerner Sells Fabrication Yard, Changes North Sea Strategy
Kvaerner is selling its U.K. Teesside fabrication yard and reducing its reliance on North Sea offshore business, a company official said. The decision to sell the…
Repower on the Chesapeake
The St. Laurent Forest Products Corporation of West Point, Va. has been operating a pair of 84 ft. tugs, Elis and Sture, since 1980, when they were built in Houma, La.
Inland Boatworks to Deliver Triple Screw Towboat
April is the scheduled delivery date for a 64 x 28 x 9.5 ft. push boat for Stockstill Boat Rentals of New Iberia Louisiana from Inland Boatworks of Orange, Texas.
Cummins Annouces Emissions Certification
Cummins Marine, a division of Cummins Engine Company, has received IMO MARPOL 73/78 Annex VI emissions Statements of Compliance from Lloyd's Register of Shipping for its B series…
Salvage Tug Completes Frigate Tows
Donjon Marine's 7,200 hp salvage tug Powhatan deliverd the fourth and final ex-U.S. Navy frigate to the Turkish Governement. Donjon Marine had been contracted last year to tow the frigates ?
Bisso Marine Lifts Reactor Vessel
Bisso Marine Co., Inc. recently lifted an 850-ton reactor vessel from the deck of Storman Asia at the Nashville Ave. Wharf in New Orleans. Originally, the off-loading…
Travelift at Work in BC
Marine Travelift, Inc. announced Canada's largest Marine Travelift mobile boat hoist is currently in service in a brand new, 15-acre workyard and boat storage facility in Richmond, BC.
Penn Yan Boats Wins Contract
Penn Yan Boats has received its first municipal contract: Providing a new Pelican Bay brand patrol boat for New York's Chautauqua County Sheriff's Department. The…
