Panama Registry Up 9.1% in 1999
Panama's shipping registry grew 9.1 percent during 1999 to close the year with a fleet of 9,866 vessels, the National Maritime Authority (NMA) said. Of the 826 ships…
Surplus Of Chemical Tankers To Reduce Earnings
The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said.
Kvaerner Posts 1999 Record Loss, Expects a Brighter 2000
Kvaerner ASA announced a record 1999 pre-tax loss, hit by restructuring costs and weak non-core operations, but forecast an upturn at its core businesses in 2000.
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. A trade…
MAN Acquires Alstom Diesel Engine Ops
Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition…
Australian Tug Dispute Continues
The Maritime Union of Australia (MUA) is reported to be warning that its industrial dispute with Adsteam Marine could escalate to include other unions. Striking tugboat
Bill Gates Takes Stake In Newport News Shipbuilding
It was reported that Microsoft Chairman Bill Gate has purchased an approximate $68.9 million stake – roughly eight percent – of Newport News Shipbuilding. Gates…
Mitsui Marine, Sumitomo To Merge By April 2002
Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance agreed to merge by April 1, 2002, in a move that would create Japan's largest non-life insurer.
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. Due to low order intake in 1999…
Odfjell, Ceres To Merge Chem Tanker Fleets
Norway's Odfjell ASA and Greece's Ceres Hellenic Shipping will merge their chemical transport assets to create the world's largest fleet of clean tanker tonnage.
Talk Of Tanker Ageism Gives Markets A Lift
Tanker markets continued strong at the end of the week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
Stolt-Nielsen And CheMatch Join Forces
Stolt-Nielsen S.A. and CheMatch.com have formed an alliance to integrate Stolt-Nielsen’s (SNSA) Internet-based logistic system, ChemLink.com, with CheMatch.com’s Internet-based exchange.
Maritime Community Remembers Henry Reynolds
Henry E. Reynolds, who had been a member of the maritime community, died suddenly of a heart attack on January 28, while working on assignment in San Juan, Puerto Rico.
U.S. Navy Grants Contract To Avondale Alliance
The U.S. Navy has exercised a $492 million contract option to the Avondale Alliance for construction of LPD 19, the first of a four-part series of amphibious ships…
Robert Allan Awarded Tug Contract
Brusco Tug & Barge, Inc. of Longview, Wash. has awarded of the construction contract for a new 78 ft. (23.8 m) Z-drive tug to Diversified Marine, Inc. of Portland, Oregon.
Star To Develop Thailand Cruise Terminal
Malaysia's Star Cruises Plc has reportedly been selected as the developer and operator of a cruise terminal at Thailand's Laem Chabang, the gateway port to Bangkok.
Sunken Vessel Backs Up Mississippi Traffic
The Mississippi River near the Kentucky-Tennessee border reopened to southbound barge traffic early Thursday (Feb. 17) after the motor vessel Navigator sank Tuesday night and backed up barge traffic…
Airtours Ship Hits The Rocks
Airtours said its Carousel Nassau cruise liner, damaged after hitting rocks while leaving the port of Calica, near Cancun, Mexico, was making its own way to a dry dock in Mobile, Ala.
$61M Containership Contract Awarded
Kvaerner’s German yard unit Kvaerner Warnow Werft won a contract to build two containerships for $61 million. The ships are scheduled for delivery in the first and second quarter of 2001.
Vosper Thornycroft “Preferred Bidder” For New Ship Contract
U.K. shipbuilder Vosper Thornycroft Holdings Plc has been selected as preferred bidder by the Ministry of Defense to supply two survey ships in a deal worth up to $150 million.
