CMB Downgraded
KBC Securities downgraded CMB to "accumulate" from "buy" because it does not expect the Belgian shipping company to significantly outperform the market. KBC said weakening U.S.
China Oil Demand Expected To Rise
Chinese crude oil demand is expected to average 5.03 million barrels per day (bpd) in 2001, or five percent higher than in 2000, the International Energy Agency (IEA) said.
Italian Authorities Continue Ship Search
A ship, called the Davis, believed to be carrying as many as 180 illegal immigrants was still missing on Monday, after sending a distress signal from waters off southern Italy on Saturday evening…
COSCO Investment Seeks New Opportunities
COSCO Investment (Singapore) Ltd. is looking at opportunities to invest in the shipping business in China and in Southeast Asia. These opportunities involve "outright purchase or co-investment…
Offshore Rig Utilization Is Up
Worldwide offshore rig utilization rose this week due to increased drilling rig demand in Europe and the U.S. Gulf of Mexico, according to Offshore Data Services (ODS).
Are VLCC Rates Poised For Rebound?
Very Large Crude Carriers, which were scraping the bottom of the freight market at the end of January, look set to make a comeback as the pool of available tonnage runs dry.
The Castor Is (Finally) Empty
With the final discharge of all cargo from the damaged tanker Castor, and its pending redelivery by the salvors to its owners for repair, a 39 day saga that has…
Asian Panamax Rates Move Down Slightly
Asian Panamax freight rates for dry bulk cargo market edged lower this week on slowing demand and brokers said on Friday a recovery was likely to come only in mid…
SembCorp To Post Modest Gains
SembCorp Marine, Singapore's largest ship repairer, is expected to post a modest rise in 2000 earnings, boosted mainly by gains from divestment of a small technology company.
Glasgow Shipyard Inaugurates Its Saving Grace
Glasgow's Govan shipyard celebrated a welcome but rare sight on Friday as a new ship slipped into the dark waters of the Clyde - the first since the once-mighty…
Analysts Rate Carnival Corp. Neutral
Morgan Stanley Dean Witter said one of its analysts started coverage of cruise line Carnival Corp. with a neutral rating on Friday. The analyst set a $37 price target.
Seven Seas Voyager Will Boast Dolphin Podded Propellers
Seven Seas Voyager, the new 50,000-gt cruise ship under construction at T. Mariotti Shipyard in Genoa, Italy for Radisson Seven Seas, will be among the first ships…
76-Year-Old Solo Sailor Loses His Ship
David Clark's record breaking bid to be the oldest man to sail solo round the world ended in disaster on Thursday as his yacht sank two days after leaving Cape Town, Reuters reported.
EU To Crack Down On Tankers
European Union plans to avoid a repeat of the recent saga of the leper-tanker Castor are well advanced, the European Commission's head of maritime safety said. With a 60-ft.
Castor Is Now Clean
Salvors working in open seas have managed to safely discharge a petrol cargo from a damaged Cypriot tanker in the Mediterranean, averting the risk of an environmental disaster.
Pimentel Steps Down From Top Post At Cunard Line
Carnival Corp. announced the resignation of Larry Pimentel, president and CEO of its Cunard Line Limited unit. Pamela Conover, COO of Cunard, has been given the…
Kvaerner Masa-Yards Piikkiö Works Agrees With Flender Werft
Kvaerner Masa-Yards Piikkiö Works and German shipyard Flender Werft have signed a contract on the delivery of approximately 550 prefabricated modular cabins for…
Saab TransponderTech To Provide ARS System
Saab TransponderTech has been awarded a contract to provide Orkney Island Harbor Authorities with an ARS system that includes AIS functionality. The system boasts…
Image Marine Wins Dinner Cruise Contract
Image Marine signed a contract to built a 34 m dinner cruise catamaran for Blue Line Cruises of Sydney, Australia for operation in Sydney Harbor. Blue Line, which is part of the Accor Group…
Bender Granted Conversion Contract From Cal Dive
Bender Shipbuilding & Repair of Mobile, Ala., has been awarded the conversion of the 400 x 102 ft. (121.9 x 31 m) Sea Sorceress. The barge, which will be converted…
