Panamax Rates Under Pressure
Freight rates in the Atlantic Panamax market remained under pressure and were expected to move even lower in the near term, brokers said on Monday. While Atlantic rates continued to slide…
ITF Targets Liberian Flag
The International Transport Workers Federation (ITF) has launched a campaign to bring down the Liberian shipping flag, which it accuses of bank-rolling a savage conflict in Sierra Leone.
Memco Barge Line Sold
American Electric Power Co. Inc. signed a definitive agreement with Progress Energy Inc. to buy its MEMCO Barge Line Inc. for $270 million, in a deal AEP said would immediately add to its earnings.
Tanker Markets Move Forward, Slowly
Most tanker markets were still inching forward on Monday but the North Sea market was at the end of its rally and was starting to sag again, brokers said. "It's cooled off a little (in the North Sea)…
Over-capacity builds up in transpacific container trade
The addition of substantial new vessel capacity is widening the gap between supply and demand in the transpacific container trade, according to World Liner Supply…
NAVSEA Divers Help Raise History
Naval Sea Systems Command divers, along with National Oceanographic and Atmospheric Administration divers lifted a piece of naval history out of 240 feet of water…
TMN To List Shares
Thai state-owned shipping company Thai Maritime Navigator (TMN) it would list its shares on the Stock Exchange of Thailand in the next three years. TMN chairman of board of directors…
Power Barges Bring New Light To Lagos
Sections of Lagos will receive an unprecedented 22 hours of electricity daily starting next month due to a project by U.S. energy group AES Corp, the head of Nigeria's state power company said.
NSCSA Reports $31M Profit
The National Shipping Company of Saudi Arabia (NSCSA) reported a net profit of 115.7 million riyals ($30.85 million) in the first half of 2001 compared with a net…
