S&P Cautions On CP Ship After The Split
Standard & Poor's placed its triple-'B'-corporate credit rating on CP Ships Holdings Inc. and its triple-'B'-minus corporate credit and senior unsecured debt ratings…
HSBC Recommends Exel
HSBC upgraded its recommendation on British logistics group Exel Plc to "add" from "hold" with a target price of 1,028 pence. "With uncertainty over the global GDP growth outlook…
Cheap Seats Hurt Princess Cruises
Cheaper tickets for Caribbean cruises filled the decks but hit the finances of P&O Princess Cruises Plc last year when profits fell 11 percent. Most of the damage was reported in the fourth quarter…
Spellar’s Reply To Rosyth “Firing” Plans … Rubbish
Leaders of Britain's defense unions claim to have uncovered secret plans to axe over 1,400 jobs at Scotland's Rosyth naval base as part of a wider Ministry of Defense shake-up of navy repair services.
Modern Panamaxes Attract Top Dollar
While the dry bulk carrier market waits for increased opportunities arising from the eventual onset of spring, the Panamax sector continues to trade in a relatively steady manner.
India’s Busiest Port Resumes Operations
Kandla, India's busiest port which was damaged in last month's earthquake, resumed operations at all its 10 general cargo berths on Wednesday with load restrictions on some of them…
New Appointments at James Fisher and Sons
Mr. Angus Buchanan, a main board director of James Fisher and Sons Public Limited Company and managing director of the subsidiary James Fisher Tankships Limited…
USN: Two Civilians At Control Stations On Sub
Two civilians were at control stations on the USS Greeneville as the submarine shot to the surface and struck a Japanese fishing vessel, a U.S. Navy spokesman in Honolulu said on Tuesday.
Mitsubishi Denies GE Rumors
Japan’s largest heavy machinery maker Mitsubishi Heavy Industries Ltd. denied a newspaper report that it is in talks with General Electric Co. on a business alliance.
Canadian Pacific To Split Up
Canadian Pacific Ltd., one of Canada's biggest and oldest companies, said it would split into five publicly traded firms, a move aimed at shedding a conglomerate discount that had dogged its stock.
Three Bidders Approved To Buy Shipping Company
Latvian Economy Minister Aigars Kalvitis said the cabinet had approved three bidders to buy a 68 percent stake in Latvian Shipping. "Six companies had applied and…
PDVSA Chooses Bunkerstem
Venezuelan state oil company Petroleos de Venezuela (PDVSA) has chosen Bunkerstem, as one of only two approved outlets for bunker fuel sales. PDVSA will begin selling…
Horizon Delivers Azimuthing Tug
Horizon Shipbuilding, Inc. recently delivered Belle Watling, a 72-ft. Z-drive tug to Dixie Towing of Jacksonville, Fla. The tug was delivered 30 days ahead of its contractual delivery date.
McAllister Towing Orders New Tug Pair
McAllister Towing and Transportation Co. has ordered two new 5,000 hp tugs scheduled for delivery this year. The first vessel, which will be named Janet M. McAllister…
Chiles Offshore Announces 4Q Results
For the fourth quarter ended December 31, 2000, the Chiles Offshore reported net income of $4,401,000 on revenues of $16,752,000. In the corresponding quarter ended December 31…
BV Pushes Tanker Safety Initiatives
Bureau Veritas (BV) is to work within IACS to develop tanker safety initiatives proposed by OCIMF and Intertanko. OCIMF and Intertanko have held a series of individual…
SembCorp Posts Small Profit Rise
SembCorp Marine Ltd. (SCM), Singapore's largest ship repairer, posted a small rise in its 2000 net profit, in line with market expectations. SCM, 63 percent owned…
Ship Sales
Molat - (built 1977) 37,836 dwt sold for $1 million. Sea Resource - (built 1977) 27,000 dwt sold to Taiwanese buyers for $1.35 million. Neptune Akabar - (built 1986) 21…
USN Procedures Under A Microscope In Wake Of Trawler Sinking
The U.S. Navy, eager to keep its submarines hidden as much as possible, rejected three official recommendations aimed at preventing collisions like the one that…
Seascope, Braemar Agree To Merge
Seascope Shipping Holdings Plc agreed to merge with Braemar Shipbrokers Ltd., to help strengthen its position in the London and international shipping markets. Seascope…
