Newport News Takeover Far From Being Finalized
The U.S. Defense Department wants more data from rivals for the $2.1 billion takeover of Newport News Shipbuilding Inc. and may still be weeks or months away from…
NOL Apologizes For Share Suspension, Price Drop
Neptune Orient Lines Ltd (NOL), the world's sixth largest container shipping group, apologized to shareholders in a Singapore newspaper advertisement on Thursday…
Dutch Koninklijke Nedloyd Posts Net Profit of $15.4 Million
Dutch shipping and road transport group Koninklijke Nedlloyd Groep NV said on Thursday it had posted a net profit of 17 million euros ($15.4 million) in the first half of 2001…
SembCorp Shares Fall Short of Market Expectations
Shares of Singapore infrastructure conglomerate SembCorp Industries fell as much as 4.22 percent on Thursday after its half-year core performance came in below market expectations.
Bergesen Forecasts Higher Operating Profits
Norwegian shipping group Bergesen d.y. posted a return to pre-tax profits for the second quarter on Thursday and forecast higher operating profits for the full year…
Hyundai Heavy Foresees Strong Earnings Recovery
Hyundai Heavy Industries, the world's largest shipbuilder, sees a strong earnings recovery after cleaning up the last of its soured investments in sister firms, a company executive said on Thursday.
Kvaerner Shares Hit Rock-Bottom
Shares in engineering and construction group Kvaerner plunged to their lowest level since 1986 on Thursday after market sources said Nordic investment bank Carnegie downgraded the firm.
Tanker Owners Fight Back
Tanker owners, who have been retreating on freight rates for crude cargoes for several weeks, have started to fight back in recent days, especially for prompt loading dates, brokers said on Thursday.
Trailer Bridge Announces 2Q Results
Trailer Bridge, Inc. reported its financial results for the second quarter ended June 30, 2001. Total revenue for the three months ended June 30, 2001 was $21,659…
Svenska Orient Line Announces Good Results
Increased international trade and higher demands on more efficient transportation are two factors that benefit shipping and a niche-oriented shipping company such as Swedish Orient Line (SOL).
Shippers Avoid Sri Lanka Because Of High Cost
Sri Lanka's port crisis deepened as insurers raised their war risk surcharges even further, prompting top shipping lines to sharply reduce services to the Colombo port.
LevelSeas Adds Key Clients
Internet ship-brokerage Levelseas said that seven of the world's biggest commodity traders and three key shipping players had signed up to its system, LSX, allowing…
Moore Stephens Recommends Transfer Pricing Review
Shipping companies should take positive action now, if they want to avoid a big U.K. tax bill, say leading accountants Moore Stephens. In the current issue of Moore Stephens' shipping newsletter…
EMMF Says e-bunkering Needs People
ExxonMobil Marine Fuels says e-bunkering is here to stay. "But," says Joe Rud, vice-president, "People can adapt to the complex needs of bunkering better and more quickly than websites.
Three Charged With Manslaughter in Fatal Ship Collision
Canadian authorities acting on behalf of the United States charged the captain of a Russian-owned vessel with involuntary manslaughter on Wednesday in connection…
Tropical Depression Detected in Southern Caribbean
The National Hurricane Center (NHC) in Miami said Wednesday that a tropical depression had formed in the Atlantic Ocean and was about 975 miles east of the Windward Islands in the southern Caribbean.
Panamax Market Remains on Road to Recovery
The panamax market remained on track for a recovery from the recent slump, despite various public holidays, brokers said on Wednesday. Although South Korea, India…
LevelSeas Seeks Funds From Software Company
Internet shipbrokerage Levelseas is seeking to recoup payments from a sacked software developer, a move that illustrates the frustration many Internet start-ups…
Cosco 1H Net Jumps 66%
COSCO Investment (Singapore) Ltd. posted a 66 percent jump in first-half net profit to S$9.25 million ($5.27 million) on greater margins from bulk shipping and its container feeder service operations.
Statoil Criticizes British Gas Plan
Statoil said Britain risks losing out on gas imports if it does not change its pricing system for bringing natural gas onto the mainland from offshore fields. Rune Bjornson…
