FGI And Halter Merger Activities On Schedule
Friede Goldman International stated that its activities related to its pending merger with Halter Marine Group were progressing on schedule. The company has received…
Celebrity Zenith Arrives At Newport News
Celebrity Cruise Lines' vessel Zenith arrived at Newport News Shipbuilding (NNS) on October 18 for its bi-annual drydocking. Owned and operated by Miami, Fla.-based Celebrity…
World's Biggest Cruise Liner Set To Sail
The world's biggest cruise liner, the 311-m (1,035-foot) Voyager of the Seas, will set sail this week from Finland to the United States. The $500 million vessel…
Astano Delivers Discoverer Spirit
Astano, the Astilleros Españoles offshore construction yard, has sent off Discoverer Spirit to American owner and operator Transocean Offshore. The second of a trio…
Finnish State To Join Bidding For Masa-Yards
The Finnish state plans to join the bidding for Masa-Yards, the Finnish shipyards of Anglo-Norwegian engineering firm Kvaerner, according to news reports. Officials…
15 Bodies Recovered From Ship Wreck
Rescuers have recovered 15 bodies from a ship that sank off the southern coast of Indonesian New Guinea last week with the feared loss of more than 100 lives. About…
Samsung Wins $500 M In Orders
Samsung Heavy Industries Co. has won $500 million in orders to build eight ships for Greek, German and British companies, according to company officials. Samsung…
Oil Jumps As Support For Cut Extensions Grows
Oil prices surged on Friday as traders began to take seriously the prospect of an extension beyond next March of producers' supply curbs. International benchmark…
Energy Department To Watch Energy Supplies For Y2K Mishaps
The U.S. Energy Department will team with industry experts to monitor any disruptions to energy supplies worldwide as Year 2000 dawns, department officials said.
Royal Caribbean Fined $6.5 M For Spill
Royal Caribbean Cruises Ltd. was fined $6.5 million on Oct. 21 for dumping oily bilge water and other pollutants into Alaskan waters. The cruise line was placed…
Latvia Shipping Asks Hyundai To Extend Tanker Deal
State-owned Latvian Shipping has asked Hyundai Heavy Industries for an extension of the deadline for signing a $200 million tanker order. Latvian Shipping is in…
Piracy Rampant In Indonesian Waters
Pirate attacks more than doubled in Indonesia in the first nine months of 1999, prompting the International Maritime Bureau (IMB) to warn mariners to take urgent precautions in Indonesian waters.
Shipping Industry To Face 'Famine'
The shipping industry faces lean times or worse over the next few years, industry experts said at a round table discussion. "I don't see any fat times ahead. I see lean times and perhaps famine…
SS&Y Atlantic Capesize Index Rises 120 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 120 points to 4,520 in the week ending Oct. 18. "The Atlantic index exceeded 1997 levels on…
SS&Y Pacific Capesize Index Rises 179 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 179 points to 4,378 in the week ending Oct. 18. "After last week's record rise (912 points),…
Offshore Rig Counts Unchanged
The number of mobile offshore drilling rigs under contract is unchanged from last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S.
Capesize Markets Quiet, Remain Firm
Capesize markets were quieter worldwide last week, although rates remained firm. Panamax rates made further headway in most areas, and Handysize conditions were…
Increased Activity Can't Budge Moribund Rates
A flurry of activity in the main Middle East large tanker markets failed to move rates from their moribund levels last week, shipping brokers said. However, with…
Mobil Discovers New Gas Fields Of Australia
Mobil's wholly owned subsidiary, Mobil Exploration & Producing Australia Pty Ltd., has found significant new gas resources in the Carnarvon Basin, off the northwest coast of Western Australia.
Kvaerner Appeals EC State Aid Ruling
Kvaerner has appealed against a European Commission ruling that it must repay state aid of $44.8 million for alleged over-production at its Warnow shipyard in Germany during 1998.