Attica Maintains Leading Share In Adriatic
Ferry operator Attica Enterprises is maintaining its leading market share in the passenger and truck traffic in the sea routes from all ports of Greece to Italy.
China Finds More Bodies From Ferry Disaster
As divers pulled more bodies from the sunken wreckage of a car and passenger ferry last week, officials vowed to recover all of the 280 victims of China's worst ferry disaster in recent years…
Minoan Lines Expects 58% Profit Increase In 1999
Minoan Lines expects its group 1999 profit to grow 58 percent to $49.4 million. Company officials said that revenues from its Greece to Italy routes in the first…
Ferry Designer Says Catamarans Are Safe
The designer of Sleipner, the high-speed ferry that hit rocks and sank off Norway, said that the accident was a freak and insisted that the ultra-modern catamarans were safe.
Official Says Downed Ferry Licensed Only For Calm Seas
The head of Norway's maritime directorate said a high-speed ferry that went down in rough seas was licensed to sail only in relatively calm waters. The ultra-modern…
Hutchison Whampoa Says It Will Not Control Canal
Hong Kong tycoon Li Ka-shing dismissed suggestions that his company Hutchison Whampoa Ltd. would control the Panama Canal when it begins operating container ports…
Canada May Aid Boat People Who Turn In Traffickers
Canada may offer landed immigrant status to boat people who agree to testify against the "human trafficking" rings that brought them illegally to the country's shores…
Dangerous Seas Ahead If Indonesia Breaks Up
Pirates and marauders will rule what are now Indonesia's territorial waters if the country disintegrates, increasing security risks to the whole region, Jakarta's…
Y2K-Related Delays Grip South African Port
Vessel and container handling delays spurred by fears over Y2K bug glitches are still hobbling operations at South Africa's Durban port, a senior shipping official said.
Taiwan Tanker Spill Minimal, Says Operator
The Greek operator of the Panamanian-registered oil tanker Devon confirmed that the ship had leaked oil off the southern Taiwanese port of Kaohsiung, but said only a small amount was spilled.
Siem Buys Option For NCL Shares
Siem Industries Inc. subsidiary Siem Leisure Industries Inc. acquired an option to purchase one million shares in cruise operator NCL Holding ASA. Siem said the…
LUKoil Tankers Shows Interest In Latvian Shipping
Latvia's Privatization Agency said Russian LUKoil Tankers have shown active interest in the sell-off of a 44 percent stake in Latvian Shipping. "We have had the…
Baltic Exchange Dumps Restructuring Plans
The Baltic Exchange is dropping plans to restructure the world's oldest shipping market as a mutual body. "The board has decided not to develop detailed proposals…
Capesize Momentum Likely To Continue Through End Of Year
The momentum in the Capesize shipping markets is likely to continue across the next month, shipping brokers said. However, continued rate strength in the New Year…
Depressed Rates Take Toll On Older Vessels
Low tanker rates are pushing increasing numbers of old VLCCs to the scrapyard, but not enough to counter deliveries of new vessels, shipping brokers said. "Depressed…
Panama Canal's Locks Stand Test Of Time
The man-made chasm, large enough to swallow the Titanic whole, yawns before him. To reach the bottom takes an elevator, a hard hat and no fear of heights. But for Ivan Lasso…
ISM Compliant Ships Make Fewer Claims: Insurer
Protection and indemnity (P&I), and hull insurer, The Swedish Club reported that a study it conducted showed direct evidence that ships complying with the International…
Market Secrecy Bad For Rates, Say Brokers
Increased secrecy in the tanker chartering market may be pushing rates lower, even though many brokers and owners like the idea of doing private business. Although…
NCL Turns Down Carnival's $1.7B Takeover Bid
NCL Holding ASA flatly rejected a 30 crown ($3.72) per share takeover offer from Carnival Corp, saying it undervalued the group's potential. NCL Chairman Kristian Siem…
Aker Maritime Aims For Savings Via Restructuring
Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its…