Seascope, Braemar Agree To Merge
Seascope Shipping Holdings Plc agreed to merge with Braemar Shipbrokers Ltd., to help strengthen its position in the London and international shipping markets. Seascope…
Panamax Slide Should Continue
Panamax owners are unlikely to experience any relief from the current slide in earnings until March. February load freight rates have fallen further as a result of reduced enquiry…
Rivers Are On The Rise
Water levels on U.S. Midwest rivers were rising after recent warm temperatures and weekend rains mixed with snow hit the upper Midwest but no navigational problems were expected, river officials said.
GE Marine Starts Engineering For Eighth LHD
GE Marine Engines has received partial funding from Ingalls Shipbuilding, Pascagoula, Miss. to begin the engineering work on equipment to be used on the U.S. Navy's eighth LHD Wasp-class large-deck…
New Floating Production System Report Is Available
According to a new report by IMA, there are 121 floating production systems in operation or available as of February 2001. This is an increase of almost 90 percent…
Navy Rejects
The Navy rejected safety experts' recommendations that U.S. submarines be required to use "active" sonar before surfacing to avoid collisions like the one that sank a Japanese trawler off Hawaii.
Tragic Mishap Downs Japanese Trawler
As hopes of finding survivors faded, anguished relatives of the nine Japanese missing after a surfacing U.S. submarine sank their trawler off Hawaii pleaded to have…
Cunard Considers Pacific Runs For QE2
Cunard Line will likely pull the Queen Elizabeth 2 from its traditional trans-Atlantic runs and possibly redeploy the storied cruise ship in the Pacific once the…
Leaky Oil Tanker Departs Valdez
An oil tanker that leaked some oil from a small crack while in port departed with its cargo on Sunday from the Valdez terminal of the trans-Alaska pipeline, Reuters reported.
CMB Downgraded
KBC Securities downgraded CMB to "accumulate" from "buy" because it does not expect the Belgian shipping company to significantly outperform the market. KBC said weakening U.S.
China Oil Demand Expected To Rise
Chinese crude oil demand is expected to average 5.03 million barrels per day (bpd) in 2001, or five percent higher than in 2000, the International Energy Agency (IEA) said.
Italian Authorities Continue Ship Search
A ship, called the Davis, believed to be carrying as many as 180 illegal immigrants was still missing on Monday, after sending a distress signal from waters off southern Italy on Saturday evening…
COSCO Investment Seeks New Opportunities
COSCO Investment (Singapore) Ltd. is looking at opportunities to invest in the shipping business in China and in Southeast Asia. These opportunities involve "outright purchase or co-investment…
