Mediterranean Shipping Takes Another Cruise Ship
Mediterranean Shipping Co had exercised an option with Alstom for a second 793-cabin cruise liner to be delivered in 2004. Although Alstom declined to give the value of the contract…
Panamax Rates Slip Slightly
Panamax freight rate ideas for the immediate future have slipped back slightly, shipbrokers said. Overall, Panamax freight rates in the Atlantic are seen as softer…
Six Lost in Trawler Sinking
Rescuers on Tuesday recovered the bodies of six sailors who died when a German trawler sank in the freezing North Atlantic off the west coast of Scotland. “Everybody…
Teekay Takes Control of UNS
International tanker group Teekay has taken control of 56 percent of shares in Norway’s Ugland Nordic Shipping. Teekay will submit an offer to acquire all remaining shares in UNS at $15.85 per share…
Korean Shipbuilder See Capacity Shortage
An executive at South Korea’s Hyundai Heavy Industries, the world’s top-ranked shipbuilder, said on Tuesday there was a global capacity shortage in shipbuilding…
Report: Sailors Treated Like Slaves
Tens of thousands of sailors on commercial ships are being treated like slaves and live in fear of being thrown overboard if they complain about exploitation and mistreatment…
Trico Marine Files to Sell Up to $150M in Stock
Trico Marine Services Inc. filed with U.S. regulators to sell on occasion up to $150 million in common and preferred stock, depositary shares, debt securities, guarantees and warrants.
Seacor Smit Gets Bigger
Seacor Smit Inc. and Stirling Shipping Company Ltd., a private UK company based in Glasgow, Scotland, signed a letter of intent for Seacor to acquire all of the…
