Mississippi River Traffic Starts Flowing Early
Barges traveled freely last Monday along the mid-Mississippi River after a lock in Quincy, Ill. opened ahead of schedule, according to the U.S. Army Corps of Engineers.
Innovative High-Speed Japanese Ferry Enters Service
A high-speed Japanese ferry left Japan last Tuesday on its maiden voyage to Shanghai, which it is expected to reach in half the time of a conventional vessel. The Techno Super Liner…
Moody's Downgrades Navigator Gas
Moody's Investors Service has downgraded the rating of Navigator Gas Transport's first priority ship mortgage notes due 2007 to Caa2 from Caa1, and the second priority notes due 2007 from Ca to C.
Panama Canal Revenues Drop 2.6%
Panama Canal revenues for January totaled $48.9 million, down 2.6 percent from the same period a year ago, the waterway's administrator's said last week. Cargo tonnage from the month's 1…
Finland Prepares For Massive Sea Transport Strikes
The 10 percent of Finland's workers who still have no pay deal for this year are digging in their heels in preparation for strikes which could have serious effects on the Finnish economy.
P&O Takes Two From MHI
A further sign of Japanese inroad in the lucrative, and previously European-exclusive domain, of cruise shipping was sounded last week when the Financial Times reported…
U.S. MSC Ship Collides In UAE
A U.S. Military Sealift Command fuel ship was reportedly in a collision with a civilian vessel on Sunday (Feb. 27) while preparing to enter the Jebel Ali port in the United Arab Emirates, the U.S.
Finland's Spring Could See Shipping Strikes
The 10 percent of Finland's workers who still have no pay deal for this year are digging in their heels in preparation for strikes, which could have serious effects on the Finnish economy.
India Eases Chartering Rules
Indian shipping companies can now charter out their vessels to foreign companies without prior government approval, a Surface Transport ministry official said. He said the Department of Shipping has…
Bulgaria Tries Again To Sell Shipyard
Bulgaria opened a new tender for an 80 percent stake in the state-owned shipyard in the second biggest Black Sea port of Bourgas and set a March 15 deadline for bids.
Vopak Reports '99 Net Down, Eyes Improvement
Dutch shipping and tank storage firm Vopak NV reported that its ordinary net profit fell by 5.3 percent in 1999, but said it expected improvements this year. Net…
Worldwide Capesize Rates Continue To Firm
Capesize rates firmed again worldwide, but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of…
Talk Of Tanker Age Limits Gives Markets A Lift
Tanker markets continued strong at the end of last week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
ITIC Highlights The Perils Of E-Mail
Electronic communication is not totally secure despite a seemingly bug-free transition into 2000, warns The International Transport Intermediaries Club (ITIC). E…
USCG Codifies Single Hull Phase-out Requirements
In a notice of proposed rulemaking (NPRM), the USCG proposes to clarify and codify a policy it issued in April 1999 regarding phase-out dates for single hull tank vessels.
Shippers Form Working Group On Jones Act Conflict
The Maritime Cabotage Task Force (MCTF) and the National Industrial Transportation (NIT) League have reached agreement on the establishment of a joint working group…
BHI Restates Prior Results To Tune Of $31M
Baker Hughes Inc. has completed its review of the accounting issues previously identified at its INTEQ division and will restate prior period results by $31 million…
Ocean, NFC Merge
Ocean Group Plc has agreed to merge with rival NFC Plc to form a $4.4 billion logistics group with the world's second highest revenues. To be known as Exel Plc,…
1999 Container Trade Seen Mixed
Shipping container trade from Europe to Asia grew by 20 percent in 1999, but only by five percent for trade the other way, a senior shipping executive said. Tom Boardley…
Aker Maritime Sees Rise In Profits
Norwegian offshore services group Aker Maritime forecast a considerable rise in profits in 2000 after weak oil markets depressed earnings in 1999. "The low level…