Increased Rates in U.S. Gulf Drive Panamax Freight
Panamax freight rates continued to rise, driven by increased rates in the U.S. Gulf and the stability of the South American market, brokers said on Thursday. Fresh…
Bocimar and Zodiac Maritime Reportedly Near Alliance
Bulk shipping giants Bocimar and Zodiac Maritime are close to forming an alliance that would control nearly a third of the world Capesize market, according to London broking sources.
Royal Caribbean Extends Options For Two $500 Million Vessels
Royal Caribbean said on Wednesday it has extended for 13 months options on building two $500 million ships to add to its 21-vessel fleet. The Miami-based operator…
Fortum Orders Pair of 25,000-DWT Chem Tankers
Finnish energy group Fortum said on Thursday it had ordered two new 25,000 deadweight-ton chemical tankers from the Chinese Jinling shipyard for an undisclosed sum.
Greek Bulk Operator To Merge Capesize, Panamax Fleets
Greek bulk shipping operator Ceres Hellenic said on Thursday it had agreed to merge its Capesize and Panamax fleets with those of Italy's Coeclerici, creating one…
Northrop Grumman Extends NNS Tender Offer
U.S. defense contractor Northrop Grumman Corp. on Thursday said it has extended its tender offer for the outstanding shares of Newport News Shipbuilding, after the…
Carnival's 2Q Earnings Drop Eight Percent
Carnival Corp. on Thursday said fiscal second-quarter profits dropped 8 percent, in line with expectations, as prices for sea vacations remained tepid. $0.34 per share, a year earlier.
U.S. Coast Guard Inspections Are Key To Cruise Industry's Livelihood
Clearly no ordinary passengers, the five people in blue jump suits were met dockside by a pacing ship's officer who whisked them past waiting crew and passengers…
Iraqi Standoff Blamed For Low Mideast Gulf - U.S. VLCC Freight Rates
Freight for Very Large Crude Carriers (VLCCs) from the Mideast Gulf to the United States has fallen to below $1 per barrel for the first time in over two years.
Port of Los Angeles Container Traffic Heads Toward Record Fiscal Year
With just one month remaining until the end of fiscal year 2000/2001, the Port of Los Angeles has already recorded a 15.3 percent increase in container traffic over last year.
Phil Kleweno Appointed President Of Princess Cruises
P&O Princess Cruises plc, today announced the appointment of Phil Kleweno as President of its North American division, Princess Cruises. Cruises Group. The division…
Kvaerner Philadelphia Shipyard Signs $240 Million Letter of Intent for Four Ships
Kvaerner, the Anglo-Norwegian engineering and construction Group, today announced that it has received a Letter of Intent from Keystone Shipping Company of Pennsylvania…
Current Onshore Rig Boom Could Be Halted By Next Year
The boom in U.S. onshore oil and natural gas drilling has yet to peak, bolstering forecasts of continued strong demand for rigs, analysts and executives said this week.
South Korea Protests Fishing Vessel Ban
South Korea said on Wednesday it would lodge a formal protest to Japan against its decision to ban South Korean vessels from fishing in Japanese territorial waters.
Ship Explodes at Malaysian Yard, Four Workers Killed
An explosion on a ship being repaired in Malaysia's southern state of Johor killed at least four shipyard workers, news reports said on Wednesday. The unidentified…
Can Cammell Laird Teeside Be Saved?
Struggling British shipbuilder Cammell Laird Plc, which has had to axe nearly 600 jobs after entering receivership earlier this year, has accepted an offer by one…
Analysts "Reduce" Recommendation on P&O
Dresdner Kleinwort Wasserstein said on Wednesday it was cutting its recommendation on P&O (Peninsular & Oriental Steam Navigation Company Plc) to reduce from hold…
Northrop Grumman: Sales Will Top $18 Billion By 2003
U.S. defense contractor Northrop Grumman Corp. on Wednesday said it expected to report sales of $18 billion by 2003, driven by growth in the defense electronics and information systems business.
Northrop Grumman To Comply With DOJ's Information Request
Defense contractor Northrop Grumman Corp. said on Tuesday that it will comply with a request from the Department of Justice for additional information on its proposed…
Overseas Shipholding To Purchase Two VLCCs
Overseas Shipholding Group Inc. on Tuesday said it will buy two very large crude oil carriers (VLCCs) from Bergesen D.Y. ASA for a total of $156 million, through its joint venture with Frontline Ltd.
