Ship Safety Database Set Up To Prevent Future Erikas
European maritime administrations signed an agreement to set up a central shipping safety database aimed at eradicating dangerous vessels. The Equasis system will…
TotalFina Drops More Cash Oil Spill Recovery
TotalFina plans to add $4.5 million for tourism promotion to the $120 million it has already pledged to clean up the December fuel spill from its chartered tanker Erika.
NCL Aims To Block Star Bid
NCL Holding plans to block a takeover bid from Star Cruises, accusing it of skirting the law and buying NCL shares. Officials of NCL, which is the target of a bid war between Star and Carnival Corp.…
SS&Y's Capesize Indices Drop
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 45 points to 4,060 in the week ending Jan. 24. "A fresh decline in the Pacific Capesize Index…
Chartering Conditions Dull Throughout Atlantic Sector
Chartering conditions were dull throughout the Atlantic sector of the dry cargo freight market, brokers said. Capesize activity was very limited and Panamax rates…
Key Mideast Markets Surge On Erika Factor
Mideast-Far East crude oil tanker freight rates leapt skywards for the second day in a row as the Erika-effect took hold, shipping brokers said on Jan. 21. Japan…
Malta Drydocks Gets New Leader
Malta last Wednesday appointed the head of Malta Shipbuilding as chairman of Malta Drydocks, pointing to closer cooperation between the two loss-making firms. The…
Marine Drilling Reports Fourth Quarter Results
Marine Drilling Companies Inc. reported fourth quarter 1999 net income of $2.5 million, or $0.04 per share, on revenues of $44.8 million, compared to net income of $7.0 million…
Manitowoc Reports Record Results For 1999
The Manitowoc Company, Inc. reported record financial results for both the fourth quarter and full year ended December 31, 1999. This was the company's fifth year…
MSC Selects Autoships' Systems
Based in Washington, D.C., Military Sealift Command (MSC) has chosen Autoship Systems' onboard stability program Autoload for their vessels. Autoload allows vessel…
Divers Plug Holes In Tanker
Divers have plugged most of the leaks in a tanker carrying heavy fuel, which sank off the United Arab Emirates, the UAE coastguard said. Hassan Malallah said a little…
Take That! Carnival Keeps NCL War Alive
Carnival Corp. revived a war for control of Norway's NCL Holding last Thursday with plans for a $1.3 billion offer, topping a bid by Malaysia's Star Cruises. "Carnival…
Inspection Groups Mull Changes
Ship inspection organizations, criticized in the wake of the Erika oil spill, are considering changes to their procedures. A special meeting has been called to review…
TotalFina's Spill Costs Rise
The oil spill off France from a chartered tanker has so far cost TotalFina more than $123 million, according to Chairman Thierry Desmarest. Desmarest announced Jan.
TotalFina Tightens Tanker Regulations After Erika Spill
Oil giant TotalFina, which chartered the ill-fated oil tanker Erika, tightened its policy on chartering older tankers. However, company officials stressed that a new age limit on large ships…
Molasses Tanker With Same Flag, Class As Erika Detained In France
A 27-year-old molasses tanker escorted to Falmouth in the U.K. after safety defects were found was flagged and classed by the same bodies responsible for the Erika…
Group Of 41 Oil Majors To Supply Tanker Status Reports
A group of 41 oil majors will make their tanker inspection reports available to port examiners in Europe. They also aim to ensure higher standards for their shared…
World Piracy Jumps 40% In 1999
Pirate attacks worldwide surged 40 percent in 1999 as economic and political troubles in Indonesia spurred a dramatic increase in incidents in Southeast Asia. The…
Owner To Shippers: Shape Up Or Face Draconian Laws
Oil companies and the tanker industry deserve to be hit by Draconian legislation if they do not clean up their act, according to a major shipowner. A series of simple…
Shipping Markets Lag Behind Despite Economic Upswing
Global economic activity proved to be stronger that expected in 1999, according to the monthly report by R.S. Platou Shipbrokers a.s. Most crisis-ridden Asian economies recovered strongly…