Star To Develop Thailand Cruise Terminal
Malaysia's Star Cruises Plc has reportedly been selected as the developer and operator of a cruise terminal at Thailand's Laem Chabang, the gateway port to Bangkok.
Sunken Vessel Backs Up Mississippi Traffic
The Mississippi River near the Kentucky-Tennessee border reopened to southbound barge traffic early Thursday (Feb. 17) after the motor vessel Navigator sank Tuesday night and backed up barge traffic…
Airtours Ship Hits The Rocks
Airtours said its Carousel Nassau cruise liner, damaged after hitting rocks while leaving the port of Calica, near Cancun, Mexico, was making its own way to a dry dock in Mobile, Ala.
$61M Containership Contract Awarded
Kvaerner’s German yard unit Kvaerner Warnow Werft won a contract to build two containerships for $61 million. The ships are scheduled for delivery in the first and second quarter of 2001.
Vosper Thornycroft “Preferred Bidder” For New Ship Contract
U.K. shipbuilder Vosper Thornycroft Holdings Plc has been selected as preferred bidder by the Ministry of Defense to supply two survey ships in a deal worth up to $150 million.
President Clinton Energizes Oil Price Debate
It’s really quite amazing how one year and an additional $21 per barrel of crude can change people’s attitudes. It was less than 12 month ago that the price per…
Adsteam To Appeal Ruling Regarding Crewing
Towage group Adsteam Group Ltd. will appeal a New South Wales ports authority ruling that prevented it from applying planned reductions in tugboat crews in the state.
Shippers Seek $90M In Restitution
The association of Romanian river shippers said it would sue the Romanian government and NATO over a total estimated loss of $90 million because of the Kosovo conflict.
Carnival Cruise Ship Stricken Again
In what has become an all too familiar scenario, another Carnival cruise ship reported engine problems and ended floating aimlessly while passengers onboard no doubt fumed.
Leif Hoegh Forecasts Higher Profits
Norwegian shipping company Leif Hoegh forecast higher operating profits in 2000. The company reported an operating profit of $23.2 million in 1999, down from $70.97 million in 1998.
OSG Raised To “Buy”
ING Barings analyst Stephen Gengaro raised his rating of shipowner Overseas Shipholding Group Inc. to buy from hold and set a 12-month price target of $28 to $30.
Capesize Indices Rise
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 626 points in the week ending Monday, Feb. 14, to 4,449. "Charterers who had been watching the…
Cargo Ship Goes Down Quickly After Collision
A Portuguese-owned cargo ship sank in 90 seconds after colliding with a larger Italian vessel last Monday, and 13 of its 14 Spanish crew were feared dead, officials said.
Mersey Docks and Harbour Announces Record Profits
Mersey Docks and Harbour Company Plc, the U.K.'s number two port operator last week said full-year profits reached record levels. The group, which owns the Port of Liverpool…
“Old Ship” Fears Drive Tanker Markets Higher
North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed…
Capesize, Panamax Markets Remain Firm
The dry cargo freight market remained firm for Capesize tonnage worldwide and for Panamaxes in the east, brokers said mid last week. Conditions remained weak for…
NLNG Buys Two Gas Vessels
Nigeria Liquefied Natural Gas (NLNG) purchased two vessels owned by Duke Energy to transport gas from the Bonny LNG plant. The company said it had long-term chartered…
Germany Will Seek $6.3M From Kvaerner
The European Commission asked Germany to recover $6.31 million in subsidies from Kvaerner ASA because a production ceiling at a German shipbuilding subsidiary had been breached in 1997.
Kvaerner To Sell Shipyards, Maritime Unit
Kvaerner Plc has agreed to sell its maritime and technology unit Kvaerner Maritime for $15.9 million in cash. Separately, the group will also sell its Fjellstrand…
SembCorp Sees Profits Rise, Eyes Business Abroad
Shipyard operator SembCorp Marine Ltd. posted a 9.6 percent rise in 1999 net profit to $46.5 million and expects to maintain profitability this year. SembCorp, which…