Galapagos’ Latest Natural Wonder … Jessica?
It seems that the stricken oil tanker that fouled Charles Darwin's Galapagos island paradise cannot be moved and is set to become an artificial reef, teeming with…
Freighter Freed
A Panamanian registered freighter carrying potash that ran aground between Germany and Denmark was freed by tugboats on Sunday and will go to a Danish port for checks, coast guard officials said.
Suez Deepening Proceeds
Work on deepening the Suez Canal to 62 feet (18.9 m) from 60 feet will be completed soon, a Suez Canal Authority official said. "Work on deepening the canal has come to an end…
New
NKK Corp. has developed an ax-shaped bow that allows a reported 20 to 30 percent reduction in ships' sea margin compared with conventional bows. The company will fit the new bow to a 172…
Detyens Shipyard Saves Christmas Cruise
Cunard's Seaborn Sun underwent an emergency dry-docking to repair internal damage to the port controllable pitch propeller. Detyens dissembled the blades and hub…
CCL, ABB Reach Settlement on Propulsion System
Carnival Corp. (CCL) and ABB Industry Oy, Marine Group, a unit of the ABB Process Industries, reached a settlement in December regarding a malfunction in the propeller…
U.S. Customs Service To Auction Drug Bust Ships
The U.S. Customs Service is preparing to auction M/V Suerte I, which was one of five large vessels seized in September 2000. The seizure occurred as part of Operation Journey…
Seacon Holdings Releases Preliminary Results
Seacon Holdings recorded a profit before taxation of £996,449 for the year ending September 30, 2000, compared to a profit before taxation of £3,284,681 reported the previous year…
Morocco, EU Resume Fish Talks
Morocco and the European Union have resumed protracted talks to renew a multi-million-dollar fishing agreement, government officials said. During the previous session in Rabat two weeks ago…
VLCC Rates
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment…
Moody's Downgrades Cammell Laird
Moody's downgraded to Caa2 from B2 the rating for the Euro 125 million senior notes of Cammell Laird Holdings plc following the announcement of its key customer…
Offshore Rig Gas Leak Kills Two
Two Brazilian maintenance workers died as a result of a toxic gas leak at an offshore oil rig operated by the state oil firm Petrobras. "The workers died when doing…
Captain Takes Blame For Galapagos Grounding
Tarquino Arevalo, captain of the Ecuadorean-registered Jessica which last week fouled the Galapagos waters with oil after running aground, told Reuters he had misjudged…
Panama Canal Partially Blocked By Spill
The Panama Canal was partially blocked after a Greek-flagged tanker spilled about 162 gallons of crude oil during a southbound transit of one of the waterway's three sets of locks…
Litton Names Graham VP
Litton Industries promoted Dr. Clark "Corky" Graham to the newly established position of vice president, resource utilization and productivity improvement of Litton Ship Systems (LSS)…
RCL Profits Rise, Shares Fall
Royal Caribbean Cruises Ltd (RCCL), the world's number two cruise group, said on Thursday that profits rose 16 percent to a record in 2000 but predicted stiff competition in 2001.
Exxon Snags Single Hull Tanker Charters
Five months after entering the tanker market to hedge its freight risk, U.S. oil giant Exxon Mobil has finally clinched two single-hulled VLCCs for five years time…
Coverage of Exel Started
Lehman Brothers initiated coverage of British logistics group Exel Plc with a "market perform" recommendation and a target price of 1,090 pence. "While Exel remains…
Crude Flows Again At Ceyhan
Iraqi crude oil exports were flowing again at the Turkish port of Ceyhan, where the second vessel this year was finishing lifting and three new cargoes were expected to turn up soon…
IHC Caland Cut
Dutch broker Amstgeld cut is recommendation for Dutch shipbuilding and engineering group IHC Caland to "Underperformer" from "Neutral". Amstgeld said it expected…
