Declining Oil Output Attributed to Lackluster Tanker Stock Performance
Tanker stocks have taken a severe beating this month on declining oil output and global economic jitters, but several analysts are predicting a steady recovery and…
Increased Rates in U.S. Gulf Drive Panamax Freight
Panamax freight rates continued to rise, driven by increased rates in the U.S. Gulf and the stability of the South American market, brokers said on Thursday. Fresh…
Bocimar and Zodiac Maritime Reportedly Near Alliance
Bulk shipping giants Bocimar and Zodiac Maritime are close to forming an alliance that would control nearly a third of the world Capesize market, according to London broking sources.
Royal Caribbean Extends Options For Two $500 Million Vessels
Royal Caribbean said on Wednesday it has extended for 13 months options on building two $500 million ships to add to its 21-vessel fleet. The Miami-based operator…
Fortum Orders Pair of 25,000-DWT Chem Tankers
Finnish energy group Fortum said on Thursday it had ordered two new 25,000 deadweight-ton chemical tankers from the Chinese Jinling shipyard for an undisclosed sum.
Greek Bulk Operator To Merge Capesize, Panamax Fleets
Greek bulk shipping operator Ceres Hellenic said on Thursday it had agreed to merge its Capesize and Panamax fleets with those of Italy's Coeclerici, creating one…
Northrop Grumman Extends NNS Tender Offer
U.S. defense contractor Northrop Grumman Corp. on Thursday said it has extended its tender offer for the outstanding shares of Newport News Shipbuilding, after the…
Carnival's 2Q Earnings Drop Eight Percent
Carnival Corp. on Thursday said fiscal second-quarter profits dropped 8 percent, in line with expectations, as prices for sea vacations remained tepid. $0.34 per share, a year earlier.
