Northrop Grumman Takes Litton for $3.8 Billion
Northrop Grumman Corp., the number five U.S. defense contractor, said on Tuesday that it has completed its $3.8 billion purchase of warship and defense electronics maker Litton Industries Inc.
Philippine Island Ferry Carrying Students Capsizes
Two people died and six were missing after a Philippine island ferry carrying students to a summer camp capsized in turbulent waters near central Romblon Island, the coastguard said on Tuesday.
Could it Be Curtains for Globalstar?
Mobile satellite telephone company Globalstar L.P. said on Monday it recorded a net loss of $3.8 billion in 2000 and it could seek bankruptcy protection if it cannot execute a restructuring plan.
U.S. Fishing Vessel Disappears Beneath the Bering Sea
Two crewmen were dead and 13 missing Monday after a U.S. fishing vessel vanished in the icy Bering Sea in what could be Alaska's worst fishing disaster, the U.S. Coast Guard said.
Foot-and-Mouth Fears Force British Ship Out of Canadian Port
A British ship was directed home from the Canadian port of Quebec City on Tuesday with its cargo only partially unloaded due to fears of foot-and-mouth disease, port authorities said.
Caribbean Upcoast Trade Experiences Downturn
Shipping's most volatile market, the Caribbean upcoast trade, has plummeted in the last few days to levels not seen since last November and freight costs are now…
Explosion Rocks Brazil's Port of Santos
A bomb exploded on Tuesday at the main power station of Brazil's top port of Santos but the port suffered no interruption in power, said the port authority Codesp.
Japanese Shipbuilding Giants Cut Their Losses
Japan's Kawasaki Heavy Industries Ltd. and Ishikawajima-Harima Heavy Industries Co. Ltd (IHI) said on Tuesday they would integrate their loss-making shipbuilding divisions in October 2002.
Royal Caribbean's Radiance of The Seas Debuts In Miami
Keeping in step with the cruise industry's rush to build ever bigger vessels, Radiance of the Seas is Royal Caribbean's newest ship and will travel North America's…
New Zealand Ports Operator Explores Further Networks
New Zealand ports operator Ports of Auckland said on Monday that it is looking at up to eight options to encourage shippers to send more export containers through its facilities…
$8.8 Million Grants SembCorp 50 Percent Of PPL
SembCorp Marine Ltd (SCM), Singapore's largest ship repairer, said on Monday it acquired a 50 percent stake in Singapore-based PPL Shipyard Pte Ltd for S$16 million ($8.8 million).
FGH Elects New COO
Friede Goldman Halter has appointed Anil Raj as its COO, effective immediately. Raj, who served previously as the company's senior vice president, Government Projects…
U.S. Federal Court Bars OPEC From Price Fixing
A U.S. federal court reportedly has granted a one-year injunction barring oil producer group OPEC from fixing prices. Prewitt Enterprises won a civil anti-trust case in an Alabama court…
Lackluster U.S. Gulf to Japan Charter Is to Blame for Panamax Rates
A lower than expected U.S. Gulf to Japan voyage charter has set the tone for the panamax sector, brokers said on Monday. The 1982-built, 60,052 dwt Marienvoy was…
Bender, Candies Sign Contract For OSV Trio
Bender Shipbuilding and Repair, and Otto Candies have executed a contract calling for the construction of three 240 x 54 x 20 ft. (73.1 x 16.4 x 6 m) Diesel Electric…
Blount/Barker Appoints New Senior V.P.
Blount/Barker ShipBuilding, Warren, R.I. has elected Jacob A. Stevens III as its new senior vice president. A well-known shipbuilder, whose career highlights include the construction of six 92 ft.
Oil From Tanker Hits Coast
Danish authorities said that half the oil from the tanker which collided with a freighter in the Baltic Sea between Denmark and Germany on Wednesday evening had hit the Danish coast.
BP Amoco Tanker Sets Sail For Texas
A BP Amoco oil tanker stranded off the coast of Bermuda for 12 days with engine problems set sail for Freeport, Texas after repairs were completed. The British Valour…
Smaller Tanker Rates Take A Pounding
Rates for Aframax tankers (70-80,000 tons) took a pounding this week, most notably in the Caribbean market, but elsewhere markets remained flat, brokers said. U.S.
Smit To Cut Costs, Focus On Growth Markets
Dutch shipping group Smit Internationale NV will continue cost-cutting in 2001 and put more focus on growth markets. "Our company should become more transparent…
