Daewoo Heavy May Join Engine Joint Venture
Daewoo Heavy Industries Co. has reportedly expressed willingness to join Korea Heavy Industries and Construction Corp. in a planned ship engine joint venture. Executives from Daewoo…
Sri Lanka Begins Building Berth At Eastern Port
The Sri Lanka Ports Authority has begun construction of a $16 million berth in the eastern Trincomalee Harbor to increase cargo handling, according to ports ministry officials.
Dresser-Rand Garners Propulsion Turbine Contract
Newport News Shipbuilding has granted Dresser-Rand Company a $9 million contract for the initial phases of production of the main propulsion turbines for the U.S.
Siemens Granted Order For RoPaxes
TT-Line Shipping Company has placed an order with SSW Fähr- und Spezialschiffbau GmbH of Bremerhaven for a pair of new RoPax vessels for a ferry service between Travemünde and Trelleborg.
Hellespont Places Order With Samsung
Piraeus-based Hellespont Shipping Corp. has contracted Samsung Heavy Industries for the first two vessels in a new class of VLCC's. The contract also calls for the…
Hyundai Orders Five MAN B&W Engines
The largest diesel engine ever designed has been requested by the Korean owner Hyundai Merchant Marine for propelling five 6,400 TEU container vessels. The five engines…
U.S. Navy Awards Contract To Bath Iron Works
The U.S. Navy has granted the DD-21 Shipbuilder Alliance a $238 million contract for the application of Phase II of the design and development of the next-generation destroyer.
Leif Hoegh To Purchase Unicool Shareholding
Leif Hoegh & Co., who owns 49.8 percent of Unicool, has signed an agreement to purchase the 50 percent shareholding in the company owned by South African Marine Corp., effective early January 2000.
Indonesian Ferry Blast Kills At Least Three
An explosion on an Indonesian ferry on Dec. 2 killed at least three people, with 196 passengers rescued, local police said. They said the accident happened minutes…
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 officials said it…
Avondale Shipyard Workers Unionize
An arbitrator has certified union representation for 4,100 workers at Litton Industries Inc.'s Avondale shipyard in New Orleans, labor officials said. When Litton bought the shipyard in August…
Secrecy In Tanker Market Said To Be Depressing Rates
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. Always…
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…
Norway Halts Sunken Ferry's Sister Ship
Citing indications of life raft and release system problems, Norway has withdrawn the operation permit of the sister ship of a high-speed ferry that sank in the North Sea on Nov.
SS&Y Atlantic Capesize Index Climbs 226 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 226 points to 4,367 in the week ending Nov. 22. "Gains of between five and 40 cents on many routes lifted the index this week…
SS&Y Pacific Capesize Index Down 12 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index was down 12 points to 4,282 in the week ending Nov. 22. "Short-term prospects remain good as the plethora…
Gulf Of Mexico Rig Count Increases
The U.S. Gulf of Mexico offshore rig count continues to rebound, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191…
New Workboat Management System Introduced
A system touted as the first fully integrated workboat management system - dubbed GlobeOffshore - will be unveiled by Globe Wireless at the International Workboat Show in New Orleans, to be held Dec.
Panama Canal Y2K Plans Are Progressing Full Steam Ahead
Plans to safeguard Panama Canal operations from Y2K-related disruption are highly advanced, the waterway's administration said last week. The Panama Canal Commission…
Suezmax Market To Be Hit Hardest By Iraqi Export Suspension
Depressed tanker markets will be hit hard by Iraq's decision to suspend crude oil exports for up to two weeks, tanker brokers said. Suezmax tanker rates in the Mediterranean…