PCA Seeking Ways To Safeguard Water
The Panama Canal Authority (PCA) inaugurated an inter-institutional commission charged with safeguaring the trade route's vital supplies of fresh water into the future.
Milford Haven Port Wins Sea Empress Fine Challenge
Britain's record fine for pollution, imposed on a port authority after a crude tanker ran aground in 1996, was slashed by the Court of Appeal. After a one-day hearing…
Small Spill After Tankers Collide Off Louisiana
The U.S. Coast Guard said that shipping operations at the Southwest Pass, off Louisiana, were not affected by a minor crude oil spill after two crude oil tankers collided on Wednesday evening.
P&O Profits Flying High
Peninsular & Oriental Steam Navigation Co. posted full-year profits ahead of expectations last week, and said the recently announced demerger of its cruises division would be completed in October.
Petromarine Calls Upon Niestern Sander
French shipowner Petromarine has ordered Niestern Sander to construct a third tanker wider than 52 ft. (16 m). Built under hull no. 813, the 12,200-dwt vessel is…
Capesize Holds Steady, Panamax Drops
Capesize rates remained very steady worldwide, but panamax rates were weaker in the Atlantic, brokers said. There were unconfirmed reports that Navix had fixed Belmaj 149…
Daewoo Split Predicted To Add Value
The splitting of Daewoo Heavy Industries into three firms should boost shareholder value, analysts said. The companies will eventually benefit from the split, analysts said…
Cruise Council Unanimously Adopts New Safety Policies
The 17-member cruise lines of the International Council of Cruise Lines (ICCL) submitted to the International Maritime Organization (IMO) three new policies addressing…
Refinancing Of BC Ferries Announced
A financial restructuring package for the British Columbia Ferry Corporation and a plan to sell the three PacifiCats has been announced, company officials said.
Daewoo Heavy Approves Split Plan
Daewoo Heavy Industries Co. shareholders approved a plan to split the firm into three companies, officials said. The plan will go into effect May 1. Under the plan…
Croatian Yard Raises $30M For Investment
Croatian repair shipyard Viktor Lenac signed agreements to raise a total of $30.4 million for financing a major enlargement through a new share issue and a loan.
French Oil Cleanup Volunteers Take Gov't To Court
Volunteers who mopped up the oil spill France's Atlantic coast from the sunken tanker Erika have taken the state to court for not warning of potential health risks, a spokesperson for the group said.
Oilseed Fuel May Help Mop Up French Oil Spill
A biodegradable fuel, produced mostly from rapeseed, has reportedly been brought in to help fight the oil spill along France's Atlantic coast. France's pollution…
Damen Seeks Remaining Shares In Romanian Shipyard
Dutch firm Damen Shipyards Group has announced plans to buy the remaining shares it does not already own in Romanian shipyard Santierul Naval Galati and to delist…
Flender Werft Awarded Superfast Ferries Contract
Flender Werft Aktiengesellschaft has signed a contract with the Greek shipowner Superfast Ferries Maritime S.A., which is a subsidiary of Attica Enterprises S.A.
Global Marine Q1 Earnings Hit By Rig Downtime
Global Marine Inc.'s first quarter earnings before taxes have been cut about $5.2 million by rig downtime, company officials reported. They added that it will take…
Moody's Ups Newport News
Moody's Investors Service upgraded the senior unsecured debt rating of Newport News Shipbuilding, Inc. (NNS) to Ba1 from Ba2 to reflect the company's improving operating and cash flow performance…
Harland And Wolff Jobs At Risk As Cunard Chooses French Yard
More than 1,700 jobs are at risk at the Belfast birthplace of the Titanic after Cunard Line decided to build the Queen Mary II cruise liner at a French shipyard.
Spanish Shipbuilder Gets Tanker Contract
Oil and gas group Repsol-YPF had awarded the construction of three liquid natural gas tankers to Spanish state shipbuilder Astilleros Espanoles. The order is reportedly worth $579.4 million.
BP Amoco Grants Project To Coflexip Stena Offshore
Coflexip Stena Offshore has reported that its Norwegian entity, CSO Norge, has received a letter of intent from BP Amoco for engineering, construction and installation…
