Moody's assigns ratings to MISC
Moody's Investors Service has assigned Baa2 foreign currency and local currency issuer ratings to Malaysia International Shipping Corporation Berhad (MISC). The outlook for the ratings is stable.
Two Die As Typhoon Pabuk Packs A Powerful Punch in Japan
Powerful Typhoon Pabuk, packing winds of up to 79 mph, ploughed into Japan on Tuesday, killing two people, snarling air, sea and rail traffic and forcing Universal Studios to close its theme park.
VLCC Rates Bounce Back With A Vengeance
Rates for eastbound VLCC cargoes of crude oil made a sudden comeback on Tuesday, with the Tankers International alliance booking out three of its ships at more than…
Kvaerner To Report 61 Percent Loss of 2Q Profits
Anglo-Norwegian engineering group Kvaerner is expected to report a 61 percent drop in second-quarter pre-tax profits due to weak market conditions in the U.S., a Reuters survey showed on Tuesday.
Panamax Freight Rates Continue to Soften
Freight rates for forward positions in the panamax sector continue to remain soft despite higher levels attracted by the prompt and spot markets, shipbrokers said on Tuesday.
Spectria Builds New Information Portal for Modern Maritime
Spectria, a leading technology consulting firm, has developed a prototype of a new, knowledge-management-based information portal called SmartShips®, for Modern Maritime…
$3M Saved Using Water Bags for Weight Testing
The Navy has recently begun using water bags accomplishing periodic weight tests of boat davits. A result of a teaming effort between NAVSEA, NAVSEA Philadelphia-SSES and FTSCLANT…
KHZ To Buy Semisubmersible
Keppel Hitachi Zosen Limited (KHZ) is in discussions with Smedvig Asia regarding the latter's intention to exercise its option to purchase KHZ's interest in the semi-submersible tender rig…
Natural Gas Boom Causes Soft Offshore Rig Demand
Demand for offshore rigs in the U.S. Gulf of Mexico has softened after a natural gas drilling boom in the first half of 2001, but forces that could support a recovery may already be at work…
Chantal's Forces Leave Two Fishermen Missing Off Yucatan Peninsula
Tropical Storm Chantal slowed to a stop and dumped torrential rain on Mexico's Yucatan Peninsula on Tuesday after leaving two fishermen missing at sea and forcing 2…
Daewoo Lands $340 Million LNG Order
South Korea's Daewoo Shipbuilding and Marine Engineering said on Tuesday it had won a combined $340 million order to build liquefied natural gas (LNG) carriers from Belgium and Norway.
GE Marine Engines To Outfit Queen Mary 2 With Gas Turbine Power
GE Marine Engines announced that its LM2500+ aeroderivative gas turbine has been selected for use aboard Cunard Line's Queen Mary 2 transatlantic liner. Upon completion in 2003…
