Clarkson Shares Surge
Shares in Horace Clarkson Plc surged 14.3 percent on Wednesday after the British shipping broker said its year turnover and profit was expected to "very substantially" exceed market expectations – (Re
Galapagos Spill Poses New Problems
Ecuadorean naval officers struggled on Tuesday to right a wrecked ship half a mile (800 m) off the shore of Ecuador's famed Galapagos islands after nearly all the…
Kvaerner Advised To Not Name New Board
Kvaerner ASA had been advised to drop a plan to name a new board due to disagreements among major shareholders and a possible scheme to split the company. Kvaerner…
Malta Drydocks Loses $7M Conversion Contract
Hebridean Island Cruises has pulled out of a $7 million conversion contract with Malta Drydocks and awarded it to a British yard instead, the Malta company said on Tuesday.
First Sulzer Common-Rail Engine Passes Shop Test
The official shop test of the first modern large diesel engine with common-rail fuel injection, a Sulzer 6RT-flex58T-B, has been successfully completed. This revolutionary…
E-Commerce Missteps Analyzed At Joint Bunker Conference
What happens when a bunker deal set up over the Internet goes wrong? One hasn't yet, but if bunkering in cyberspace mirrors bunkering in the real world, it is only a matter of time before one does.
BDI Sheds 7
The Baltic Dry Index (BDI) dipped seven points to 1,552, the Baltic Panamax Index (BPI) gained two points to 1,643, the Baltic Handymax Index (BHI) fell 44 points to 8…
Galapagos: Oil Transfer Hits Hitch
The transfer of the remaining oil from the wrecked oil tanker Jessica, which has spilt about 160,000 gallons of oil into the fragile ecosystem of the Galapagos Islands…
Russian Sunseed Exports To Drop
Russian sunseed exports may decline sharply in March as a result of export duty doubling, while shipments in January and February are likely to remain quite intensive…
N. Sea Tanker Rates Slide
North Sea tanker trades have slid nearly 40 points to around W190 because last week's spree of fixing VLCCs transatlantic has left the North Sea virtually empty of oil, Reuters reported.
Kuwait Seizes Iraqi Vessel
Kuwait seized a vessel in its territorial waters for allegedly trying to smuggle 1,000 tons of crude oil out of Iraq in violation of United Nations sanctions, Reuters reported.
Finland Transport Strike Ends
A deal was reached overnight to end Finland's transport workers' strike, Finnish media reported on Tuesday, ending a brief one-day action which brought port traffic to a virtual standstill…
World Shipholding Ups Osprey Stake
World Shipholding Ltd has acquired another 0.11 percent of Osprey Maritime Ltd, bringing its total stake in the Singapore group to 73.74 percent, Reuters reported.
Keppel Fels Abandons Verolme Botlek Pursuit
Keppel Fels Energy & Infrastructure Ltd. said it has aborted its planned purchase of Dutch repair and conversion yard Verolme Botlek. Keppel Fels, which was seeking…
Ships Collide In Busy Bosphorus Straits
A Turkish-flagged cargo ship sank on Sunday after colliding head-on with another vessel in the Bosphorus straits, the coast guard said. The stricken Kaptan Cavit's…
Castor Salvage Ops Underway
A salvage operation began on Sunday to prevent Castor -- a stricken petrol tanker lying off Spain -- from cracking open and spilling thousands of tons of gasoline into the western Mediterranean…
Daewoo Plans To Pay Debt Early
The shipbuilding unit of South Korea's troubled Daewoo Group expects a net profit and more profitable orders in 2001 as it charts a new, independent course. Daewoo Shipbuilding & Engineering Co…
P&O Raised
Morgan Stanley Dean Witter raised its rating for U.K. cruise operator P&O Princess Cruises Plc to "outperform" from "neutral" with a 12-month price target of 360 pence.
News Drives A.P. Moeller Shares Down
Shares in A.P. Moeller dropped three percent after news reports container traffic growth was slowing due to the weaker U.S. economy. At 1005 GMT Moeller's two shares…
CMB Upgraded
ING Barings reportedly upgraded its earnings forecast for Belgian shipping company CMB for 2000, 2001 and 2002 after the company reported extremely strong preliminary 2000 results.
