IMB Warns Of Rampant Piracy 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.
Davie Celebrates World Premiere Of Petrobras 36
The large semi-submersible production platform formerly known as Spirit of Columbus was rechristened Petrobras 36 on August 31. Following two years of diligent work by more than 1…
NASSCO Named Prime Contractor
National Steel and Shipbuilding Company (NASSCO), a General Dynamics company, has been appointed the prime contractor on $17.4 million in research and development…
Horizon To Construct Upgraded ISTT
Horizon Shipbuilding was awarded a contract to construct a series of 30 ft. (9 m) fiberglass Improved Surface Tow Targets (ISTT) for the U.S. Naval Air Warfare Center…
Finnlines Buys 16.6% Of Transfennica
Finnlines said it had bought forest industry group Stora Enso's 16.6 percent stake in shipping company Transfennica for an undisclosed sum. Finnlines said it and…
NCL Profits Double
Norwegian cruise company NCL Holding ASA said on Wednesday pre-tax profits almost doubled in the nine months to September 30 amid firm market sentiment and strong demand.
Odfjell Takes 50% Of Brazilian Shipper
Norwegian chemical tanker operator Odfjell last week acquired a 50 percent stake in Brazilian shipping company Flumar. Odfjell said the purchase would mean an investment…
CMB Expects To Sell Naviga Insurance
Belgian shipping company CMB expects to sell off its Naviga insurance unit within the next three months and book a significant capital gain. The company, which is…
Japanese Foreign Ship Orders Up Sharply
Japanese shipyards received foreign orders for 38 vessels totaling 1,350,650 grt in September, up 175 percent from a year before, the Japan Ship Exporters' Association said last week.
U.S., Brazil Close To Shipping Pact
A shipping agreement which was expected to be signed last Wednesday between the U.S. and Brazil reportedly will provide equal access to government business and nullify…
Freight Market Quiet
Few significant developments emerged on Wednesday as the dry bulk market appeared to be stabilizing in most areas, reflected in the latest moves of the Baltic indices, brokers said.
Weather Stops Crude Exports
Mexico's crude oil export ports Dos Bocas and Pajaritos in the Gulf of Mexico remained closed on Wednesday by bad weather, the Transport Ministry said. Winds of up to 85 kmph were whipping up 14-ft.
Transas Earns ECDIS Type Approval
Transas Marine has become the first company in the world to receive type approval for its NAVI-SAILOR 2400 ECDIS (Electronic Chart Display and Information System).
Transas Earns ECDIS Type Approval
Transas Marine has become the first company in the world to receive type approval for its NAVI-SAILOR 2400 ECDIS (Electronic Chart Display and Information System).
NNS Earnings Per Share Up 26 %
Newport News Shipbuilding reported net earnings of $20 million, or $.58 per diluted share for the third quarter of 1999. Earnings before interest and taxes (EBIT) for the quarter were $47 million…
Daewoo Fined For Intra-Group Trade
South Korea's Fair Trade Commission reportedly fined Daewoo Corp about $1.2 million last month for an unfair intra-group foreign currency transaction, in which Daewoo…
Pakhoed Plans To Issue Financing Preference Shares
Pakhoed NV will reportedly publish a prospectus for the issue of a maximum of four million cumulative financing preference shares. The issue price is approximately $1…
Hanjin Expects Increase In Sales
South Korea's Hanjin Shipping Co. expects its sales to rise by five to six percent to $3.5 billion in 1999 from a year earlier, according to company officials. Officials…
Kvaerner Appeals EC Ruling On State Aid Repayment
Kvaerner has reportedly 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.
SS&Y's Atlantic Capesize Index Rises 532 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 532 points in the week ending Monday to 4,400. SS&Y officials reported that the index is now nearly 1…