Frontline Buys Back Shares
Frontline has bought back 50,000 of the company's common shares, at a price of NOK 165,93. Total number of outstanding shares after this is 76,912,566. The shares…
EU, S. Korea Will Try Last Minute Negotiations
European Union (EU) and South Korean officials meet next week to try to settle a row over alleged subsidies to Korean shipyards and avert an EU threat to take the…
Sedative OKd To Help Free Entangled Whale
A federal judge in Boston on Friday cleared the way for rescuers to use a sedative to free a whale tangled in fishing line while fighting for its life off the coast of Cape Cod, Mass.
Norwegian Sea: Carbon Dioxide Dumping Ground?
The Norwegian Sea could be a safe dumping ground for carbon dioxide (CO2), a gas blamed for global warming, Norway's Nansen Environmental and Remote Sensing Center said.
House Votes To Bar Drilling off Florida Coast
Despite President George W. Bush's calls for more oil and natural gas production at home, the House of Representatives on Thursday voted to block drilling in a lucrative…
Hyundai Merchant Marine Sells Off Two Million Shares
Hyundai Merchant Marine, South Korea's largest shipping firm, said on Friday it had sold about two million shares in Hyundai Heavy Industries to raise operating funds and repay debts.
Sea Containers Approves Hotel Subsidiary Spin-Off
Sea Containers Ltd., which runs marine passenger transport and leases equipment, on Friday said its shareholders approved resolutions to permit the spin-off of its…
Alstom Under Fire For Alleged Asbestos Poisoning
French shipbuilder Alstom SA will need to set aside at least 20 million euros ($17 million) for claims linked to alleged asbestos poisoning at its Saint Nazaire shipyard, analysts said on Friday.
Attica Enterprises Links Up With Port of Zeebrugge
Greek ferry operator Attica Enterprises said on Friday it picked the port of Zeebrugge in Belgium for its service linking Scotland with mainland Europe, due to start in May 2002.
Declining Oil Output Attributed to Lackluster Tanker Stock Performance
Tanker stocks have taken a severe beating this month on declining oil output and global economic jitters, but several analysts are predicting a steady recovery and…
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.
