N. Sea Tanker Rates Slide
North Sea tanker trades have slid nearly 40 points to around W190 because last week's spree of fixing VLCCs transatlantic has left the North Sea virtually empty of oil, Reuters reported.
Kuwait Seizes Iraqi Vessel
Kuwait seized a vessel in its territorial waters for allegedly trying to smuggle 1,000 tons of crude oil out of Iraq in violation of United Nations sanctions, Reuters reported.
Finland Transport Strike Ends
A deal was reached overnight to end Finland's transport workers' strike, Finnish media reported on Tuesday, ending a brief one-day action which brought port traffic to a virtual standstill…
World Shipholding Ups Osprey Stake
World Shipholding Ltd has acquired another 0.11 percent of Osprey Maritime Ltd, bringing its total stake in the Singapore group to 73.74 percent, Reuters reported.
Keppel Fels Abandons Verolme Botlek Pursuit
Keppel Fels Energy & Infrastructure Ltd. said it has aborted its planned purchase of Dutch repair and conversion yard Verolme Botlek. Keppel Fels, which was seeking…
Ships Collide In Busy Bosphorus Straits
A Turkish-flagged cargo ship sank on Sunday after colliding head-on with another vessel in the Bosphorus straits, the coast guard said. The stricken Kaptan Cavit's…
Castor Salvage Ops Underway
A salvage operation began on Sunday to prevent Castor -- a stricken petrol tanker lying off Spain -- from cracking open and spilling thousands of tons of gasoline into the western Mediterranean…
Daewoo Plans To Pay Debt Early
The shipbuilding unit of South Korea's troubled Daewoo Group expects a net profit and more profitable orders in 2001 as it charts a new, independent course. Daewoo Shipbuilding & Engineering Co…
P&O Raised
Morgan Stanley Dean Witter raised its rating for U.K. cruise operator P&O Princess Cruises Plc to "outperform" from "neutral" with a 12-month price target of 360 pence.
News Drives A.P. Moeller Shares Down
Shares in A.P. Moeller dropped three percent after news reports container traffic growth was slowing due to the weaker U.S. economy. At 1005 GMT Moeller's two shares…
CMB Upgraded
ING Barings reportedly upgraded its earnings forecast for Belgian shipping company CMB for 2000, 2001 and 2002 after the company reported extremely strong preliminary 2000 results.
Finnish Stevedore Strike Halts Traffic
Three-quarters of Finnish export traffic was halted on Monday by a stevedores strike after the failure of weekend talks between between employer and employee representatives.
Grounded Ship Threaten Pristine Environ
The global conservation body WWF called on Sunday for limits to shipping off Ecuador's Galapagos islands where oil pouring from a grounded tanker is threatening…
BDI Sheds 7
The Baltic Dry Index (BDI) dropped seven points to 1,559, the Baltic Panamax Index (BPI) gained two points to 1,641, the Baltic Handymax Index (BHI) fell 26 points to 8…
A.P. Moeller Fleet Grows 12%
A.P. Moeller's fleet grew by 12 percent in 2000, maintaining the company's position as the world's biggest container operator, according to French shipping consultancy BRS Alphaliner.
Asian Panamax Rates Edge Higher
Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments…
Tanker Rates Rebound
Tanker freight has started to rebound after two days of frantic fixing, but any gains will be capped by slowing business in February when numerous U.S. refineries shut down for maintenance…
Kvaerner Considers Split
Kvaerner is considering structural changes including splitting the company. "Among the actions being considered, is a split of the group's activities into separate…
Marshall Islands Registry Passes Test
International Registries, Inc. (IRI) was reportedly notified by the U.S. Coast Guard (USCG) that the Marshall Islands ship registry which IRI administers is the…
MW 50 Sheds 18
The MW 50, a tracking mechanism of international marine industry stocks published weekly in Maritime Week, lost 18 this week to close at 1,395.92. The index, which…
