Finland Record Trade Surplus Boosted By Shipsales
Finland posted a record monthly trade surplus for October, boosted by a major deal by one of its shipyards and accelerating economic recovery. The customs board's…
NCL Holds Talks With Hostile Bidder Carnival
NCL Holding ASA officials reported that the company has had held talks with Carnival Corp., which launched a hostile takeover bid for the company. NCL officials declined to comment on the discussions…
Maersk Cements Position As Leading Container Line With Takeover
A.P. Moeller's container line Maersk completed its $800 million takeover of U.S. CSX Corp.'s SeaLand container line, Moeller officials said. The acquisition cemented…
Hyundai Heavy Gets $300M Order
Hyundai Heavy Industries Co. won a $300 million order for five container ships from Japanese ship operator Kawasaki Kisen (K-Line). Hyundai Heavy officials said the container ships will be 5…
Bangladesh Ferry Disaster Claims At Least 63 Lives
A ferry disaster on Bangladesh's southern Meghna river claimed at least 63 lives and scores more were missing, officials said. The M.L. Falguni capsized and sank on Dec.
Visma, Arena To Offer E-Commerce Software To Shippers
Norwegian software supplier Visma ASA signed an agreement of intent with Hong Kong-based Arena to deliver e-commerce solutions to the shipping industry. Arena, which…
Broken-Up Tanker Sinks Off Brittany
The broken-up Maltese-registered tanker Erika, carrying up to 25,000 tons of fuel oil, sank in stormy Atlantic seas off northwestern France on Dec. 3, according to the Cross Maritime Rescue Center.
NNS To Take Part in UAE Shipbuilding Venture
Newport News Shipbuilding (NNS) and French and United Arab Emirates interests will work together on a UAE shipbuilding venture. The other partners are Abu Dhabi…
Attica Completes Purchase Of Strintzis
Ferry operator Attica Enterprises has completed its purchase of shares in Strintzis Lines, after a block of 14,431,090 shares were transferred on the Athens bourse at a price of 2…
P&O Sees Strong Cruise Sector Trading, U.S. Listing In Future
Peninsula and Oriental Steam Navigation Co. said its cruise arm continues to experience excellent trading conditions, with total capacity up 14 percent this year.
Cruise Lines Face Y2K Supplier Squalls
The world's biggest cruise lines have safeguarded their own computers against Year 2000 glitches, but still face possible electronic squalls arising at food vendors and other suppliers.
Clinton Administration Worried About High Oil Prices
The Clinton administration said that oil prices have soared to "dangerously high" levels, and crude oil could be sold from the nation's emergency stockpile if already…
NCL Forecasts Profit Rise, Reiterates Rejection Of Carnival
Norwegian cruise group NCL Holding ASA reiterated opposition to a takeover bid by Carnival Corp. and forecast a surge in pre-tax profits for 2000. Officials said that Carnival…
NCL In Talks With Singapore's Star Cruises
One week after spurning an offer from industry leader Carnival Cruise Lines, Norwegian cruise ships operator NCL Holding ASA is in talks with Singapore's Star Cruises Plc.
Carnival Settles Sex Suit
Carnival Cruise Lines has settled before trial a sex-attack lawsuit that forced the big cruise operator to make public an embarrassing accounting of 108 sex-assault charges…
SS&Y Capesize Indices Mixed
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 27 points to 4,428 in the week ending Dec. "A flat week led to a dip of 27 points as the Queensland/Rotterdam…
U.S. Offshore Rig Count Increases
The U.S. Gulf of Mexico offshore rig count increased for the third consecutive week, according to Offshore Data Services' weekly mobile offshore rig count. Today, the U.S.
Dry Cargo Freight Market Starts Week Off Slowly
The dry cargo freight market got off to its customary slow start last week with few fresh identifiable trends, brokers said. Capesize activity was limited, and there…
Suezmax Rates Set To Soar
Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers said on Wednesday. Rates for the one million barrel…
OPEC Production Falls
OPEC oil production fell 700,000 bpd in November, driven down by deep cuts to Iranian and Iraqi supply. The group's compliance rate with supply curbs improved to…