INTERTANKO: Use Erika to positive effect
The breakup of the Erika off the French coast in severe weather on 12 December 1999 and the subsequent spillage of 14,000 tonnes of her heavy fuel oil cargo have…
IEA: Expressing Concern Over Tight Oil Supply
At a scheduled meeting today, the Governing Board of the International Energy Agency discussed the current restraints on world oil supply, the significant decline…
Navrom Vessels Sold At Auction
PriceWaterhouseCoopers, liquidator of Romanian state-run shipping company Navrom Constanta, said it sold six Navrom-owned cargo vessels at an auction in the Black Sea port of Constanta.
Tanker Detained In U.K.
An Italian classed oil tanker has reportedly been detained at the U.K. port of Felixstowe after an inspection found a number of defects, the UK Maritime & Coastguard Agency said.
Capesize Rates Firm
Capesize rates firmed again worldwide but brokers said charterers were increasingly conducting business under the counter. Panamax rates were also firmer east of…
Panama Registry Up 9.1% in 1999
Panama's shipping registry grew 9.1 percent during 1999 to close the year with a fleet of 9,866 vessels, the National Maritime Authority (NMA) said. Of the 826 ships…
Surplus Of Chemical Tankers To Reduce Earnings
The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said.
Kvaerner Posts 1999 Record Loss, Expects a Brighter 2000
Kvaerner ASA announced a record 1999 pre-tax loss, hit by restructuring costs and weak non-core operations, but forecast an upturn at its core businesses in 2000.
1999 Container Trade Seen Mixed
Shipping container trade from Europe to Asia grew by 20 percent in 1999, but only by five percent for trade the other way, a senior shipping executive said. A trade…
MAN Acquires Alstom Diesel Engine Ops
Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition…
Australian Tug Dispute Continues
The Maritime Union of Australia (MUA) is reported to be warning that its industrial dispute with Adsteam Marine could escalate to include other unions. Striking tugboat
Bill Gates Takes Stake In Newport News Shipbuilding
It was reported that Microsoft Chairman Bill Gate has purchased an approximate $68.9 million stake – roughly eight percent – of Newport News Shipbuilding. Gates…
Mitsui Marine, Sumitomo To Merge By April 2002
Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance agreed to merge by April 1, 2002, in a move that would create Japan's largest non-life insurer.
Aker Maritime Sees Rise In Profits
Norwegian offshore services group Aker Maritime forecast a considerable rise in profits in 2000 after weak oil markets depressed earnings in 1999. Due to low order intake in 1999…
Odfjell, Ceres To Merge Chem Tanker Fleets
Norway's Odfjell ASA and Greece's Ceres Hellenic Shipping will merge their chemical transport assets to create the world's largest fleet of clean tanker tonnage.
Talk Of Tanker Ageism Gives Markets A Lift
Tanker markets continued strong at the end of the week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
Stolt-Nielsen And CheMatch Join Forces
Stolt-Nielsen S.A. and CheMatch.com have formed an alliance to integrate Stolt-Nielsen’s (SNSA) Internet-based logistic system, ChemLink.com, with CheMatch.com’s Internet-based exchange.
Maritime Community Remembers Henry Reynolds
Henry E. Reynolds, who had been a member of the maritime community, died suddenly of a heart attack on January 28, while working on assignment in San Juan, Puerto Rico.
U.S. Navy Grants Contract To Avondale Alliance
The U.S. Navy has exercised a $492 million contract option to the Avondale Alliance for construction of LPD 19, the first of a four-part series of amphibious ships…
Robert Allan Awarded Tug Contract
Brusco Tug & Barge, Inc. of Longview, Wash. has awarded of the construction contract for a new 78 ft. (23.8 m) Z-drive tug to Diversified Marine, Inc. of Portland, Oregon.