VLCC Rates
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment…
Moody's Downgrades Cammell Laird
Moody's downgraded to Caa2 from B2 the rating for the Euro 125 million senior notes of Cammell Laird Holdings plc following the announcement of its key customer…
Offshore Rig Gas Leak Kills Two
Two Brazilian maintenance workers died as a result of a toxic gas leak at an offshore oil rig operated by the state oil firm Petrobras. "The workers died when doing…
Captain Takes Blame For Galapagos Grounding
Tarquino Arevalo, captain of the Ecuadorean-registered Jessica which last week fouled the Galapagos waters with oil after running aground, told Reuters he had misjudged…
Panama Canal Partially Blocked By Spill
The Panama Canal was partially blocked after a Greek-flagged tanker spilled about 162 gallons of crude oil during a southbound transit of one of the waterway's three sets of locks…
Litton Names Graham VP
Litton Industries promoted Dr. Clark "Corky" Graham to the newly established position of vice president, resource utilization and productivity improvement of Litton Ship Systems (LSS)…
RCL Profits Rise, Shares Fall
Royal Caribbean Cruises Ltd (RCCL), the world's number two cruise group, said on Thursday that profits rose 16 percent to a record in 2000 but predicted stiff competition in 2001.
Exxon Snags Single Hull Tanker Charters
Five months after entering the tanker market to hedge its freight risk, U.S. oil giant Exxon Mobil has finally clinched two single-hulled VLCCs for five years time…
Coverage of Exel Started
Lehman Brothers initiated coverage of British logistics group Exel Plc with a "market perform" recommendation and a target price of 1,090 pence. "While Exel remains…
Crude Flows Again At Ceyhan
Iraqi crude oil exports were flowing again at the Turkish port of Ceyhan, where the second vessel this year was finishing lifting and three new cargoes were expected to turn up soon…
IHC Caland Cut
Dutch broker Amstgeld cut is recommendation for Dutch shipbuilding and engineering group IHC Caland to "Underperformer" from "Neutral". Amstgeld said it expected…
Exmar, Mitsui OSK Team To Buy LNG Tankers
Exmar Group has set up a joint venture with Japan's Mitsui OSK Lines to buy two tankers to transport liquified natural gas (LNG). "It's basically 50/50," Exmar Director Rodney Hyne Jones, said.
Pirates Thwarted In Tanker Takeover Attempt
Police in Papua New Guinea fought off an attack by armed pirates who tried to hijack a Shell oil tanker as it was berthing at an island off the mainland. Shell Papua…
Mersey Docks & Harbor Downgraded
Merrill Lynch downgraded its intermediate-term rating on Mersey Docks & Harbour Plc to "accumulate" from "buy," while keeping a long-term "acumulate" rating on the stock.
Atlantic Panamax Market Positive
Positive sentiment continued to support the Atlantic Panamax market supported, shipbrokers said on Wednesday. The Pacific sector was seen as calm, with any losses…
SHIP SALES
Western Team - (built 1984) 43,296 dwt sold to Greek buyers for $6.9 million. Lara - (built 1985) 8,517 dwt sold to Italian buyers for $2.1 million. Lady Danielle - (built 1978) 21…
People & Company News
Maritime Surveys Ltd., Shoreham, Sussex, U.K., recently took delivery of the first SeaBat 8160 multibeam echosounder system from RESON A/S. The SeaBat 8160 was installed…
Intermarine Reports Increasing Numbers
Increasing numbers of motor and sailing yachts from around the world arrived this past year at Intermarine Savannah to take advantage of the shipyard's repair and refit facilities.
Oceanic to Test Yacht Design for America's Cup Challenge
Oceanic Consulting Corporation, a Newfoundland-based ocean engineering firm, has been awarded a contract to evaluate the design of the racing yacht for Switzerland's 2003 America's Cup Challenge.
Emergence of Yacht Industry Brings New Training Standards
International Yachtmaster Training and Deliveries is the world's largest nautical college dedicated to the training of Megayacht crew. The megayacht industry has…
