Capesize Rates Take a Huge Dive
Freight rates for Capesize ships have been hammered this week, falling by the biggest margin seen in over four years, brokers said. London shipbroker SSY said this…
Panamax Rates Firmer
Panamax freight rates in the Atlantic were firmer March 13 and may edge up further due to a seasonal boost, brokers said. They said the market was seeing steady…
Top Navy Officer Says Sub Captain is to Blame for Crash
The U.S. Navy's top submarine officer in the Pacific laid the blame for the collision between the USS Greeneville and a Japanese trawler squarely on the commander of the submarine. Rear Adm.
Shell Setback Likely to Delay Egyptian Exploration Licensing
Oil major Royal/Dutch Shell's unsuccessful start in Egypt's deepwater drilling is likely to set back Egyptian licensing exploration bids even further, according to industry sources.
Oslo Bourse Limits Trading in Aker Maritime
The Oslo bourse suspended automatic matching in shares of Norwegian oil and gas services group Aker Maritime on March 13, saying it suspected that some investors had privileged information.
Nine Companies Bid for Hellenic Shipyards
Nine companies expressed interest in the privatization of Hellenic Shipyards at Skaramanga, part of the country's privatization agenda for 2001, the development ministry reported.
LevelSeas Buys SeaLogistics
London-based e-shipbroker LevelSeas has acquired main competitor Houston-based SeaLogistics during a week that has seen swift consolidation in the shipping e-commerce sector.
Morocco to Upgrade Ports
Morocco's state port authority (ODEP) has drawn up a $268 million investment plan to upgrade ports infrastructure and equipment in the next five years, an official said.
North Sea Tankers Reverse Trend
North Sea tanker rates have reversed a three-month decline and are now making significant gains, brokers said. "Everyone's come out of the woodwork to look for tankers…
NY/NJ Port Authority Market Share Edges Upward
The Port Authority of New York and New Jersey reported that its market share edged slightly higher last year, chalking up a 1.2 percent gain when compared with other eastern U.S.
Eimskip Purchases Container Ship
Iceland’s largest transport company Eimskip has purchased a containership for use on its European routes from Danish shipping company KiL Shipping A/S for more than $10 million…
Panamax Rates Expected to Improve
Panamax freight rates are expected to improve this week, although the Baltic Panamax Index rose just one point to 1,626 on March 12. Shipbrokers said Panamax freight…
Repairs Complete on Damaged Akaylar II
The Turkey-flag container ship Akaylar II has left Desan Shipyard, Tuzla, Turkey, after repairs were completed on the collision damaged vessel, Reuters reported.
Trade Dept. Says No Change for Cammell Laird Offer
The UK Department of Trade and Industry (DTI) made no change to its aid offer to British shipbuilder and repairer Cammell Laird, stoking concerns the firm could lose a $500 million contract.
Oil Prices Slip Again
U.S. oil prices slid for the second straight day on March 9 as traders speculated on the size of a widely-expected supply cut by the OPEC producer cartel next week.
FGH, Ocean Rig End Dispute
Norway's Ocean Rig and Friede Goldman Halter signed an agreement, ending a legal dispute over the building of two drilling rigs that was halted earlier this month.
Queen Mary 2 To Boast MacGregor Galleys
MacGregor has landed a contract valued at more than $11.5 million to supply the vessel's galleys, bars and walk-in pantries for Cunard's Queen Mary 2 - the 150,000…
SeaAmerica And Ingalls In Discussions
Litton Ingalls Shipbuilding has completed the full design package including ship's architectural specification and contract drawings for SeaAmerica Cruise Lines.
Holland America Line Welcomes A New Class To Its Fleet
Holland America Lines announced that the first two ships of its new five-ship 85,000-ton Vista Series class will be named ms Zuiderdam and ms Oosterdam. The vessels' namesake…
Radiance of the Seas - A First Class Delivery
Radiance of the Seas, the first of its Radiance-class of ships, was delivered to Royal Caribbean Cruise Lines (RCCL) on March 9. The 90,090-ton vessel departed on March 11 from Amsterdam…
