Rates Steady On Tightening Tonnage Levels
Charter rates for crude tankers in the key Middle East market steadied at the beginning of last week after rising over the last few days on tightening tonnage levels.
Kvaerner Sells Norwegian Shipyard
Kvaerner sold its Leirvik AS shipyard in Norway to a unit of Saevik Holding AS. Kvaerner, which plans to quit shipbuilding by the end of 1999 as part of a thorough restructuring…
Oil At Sea Drops Sharply In Q3
Volumes of oil stored at sea shrank sharply during the third quarter with the consequent deliveries to refiners preventing a larger draw in onshore inventories, U.K. consultants Oil Movements said.
Atlantic Container Rates To Soar
Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year.
U.K. Drilling Activity 39 Percent Of 1998 Levels
U.K. offshore oil and gas appraisal and exploration drilling so far this year is only 39 percent of 1998 levels with no significant new drilling activity reported in the week ending Sept.
MMS Awards Contract For Royalty Reengineering
The U.S. Department of the Interior's Minerals Management Service awarded a $47 million, seven-year contract to Andersen Consulting to develop, install and operate…
Graykowski: U.S. Ports Investing $9 Billion
U.S. public port authorities will invest just over $9 billion in the next five years to improve and expand their facilities, according to Deputy Maritime Administrator John Graykowski…
Swedish Marine Insurers: Achieving Stability In A Stormy Market
While the impact of poor freight rates and low oil prices have been felt in all quarters of the Scandinavian maritime industries, the region's hull underwriters…
Specialty Barge To Be Acquired
The Marine Design Center (MDC) of the U.S. Army Corps of Engineers (USACE) intends to attain an inland river style specialty barge to serve on the U.S. Army Corps of Engineers…
Carnival Cruise Lines Founder Dies
Ted Arison, a pioneer of the modern-day cruise industry, died Oct. 1 in Tel Aviv, Israel, of heart failure. He was 75. A family tradition in shipping helped Arison…
Specialty Barge To Be Acquired
The Marine Design Center (MDC) of the U.S. Army Corps of Engineers (USACE) intends to attain an inland river style specialty barge to serve on the U.S. Army Corps of Engineers…
USCG Announces Enviro Award Program
The USCG is accepting applications for the biennial William M. Benkert Marine Environmental Protection Award program. The award recognizes environmental excellence…
Cummins Announces IMO Emissions Compliance
Cummins Marine, a division of Cummins Engine Company, is the first marine diesel engine manufacturer to receive IMO MARPOL 73/78 Annex VI emissions Statements of Compliance from the U.S.
500-Ton License Preparation Offered
Dr. William B. Eisenhardt, provost of Maine Maritime Academy (MMA) announced the college has recently received approval from the USCG to offer a 500-ton, STCW 95…
Kuoni/INTRAV Deal Finalized
Swiss-based Kuoni Travel Holding Ltd. finalized its $115-million acquisition of INTRAV, the U.S. luxury tour operator, and its subsidiary, Clipper Cruise Line, which are based in St. Louis.
Plan To Reduced Overhead Announced
BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions…
Safford Promoted To Exec. VP
Blue & Gold Fleet L.P. has promoted Taylor Safford from vice president of finance and administration to executive vice president of finance administration. In his newly appointed position…
Curriculum Restructured
The president of SUNY Maritime College stated that the institution is redesigning its curriculum and refocusing its mission to meet the needs of students and the…
NOL Appoints Two Senior Managers
Neptune Orient Lines Ltd, (NOL) has hired two veteran officials at Sea-Land Service as senior executives in its container transportation arm, APL. Edward W. Aldridge…
Finnlines Reports 62 Percent Profit Drop
Finnlines reported January-August profit before extraordinary items falling to $54 million from $141.7 million. Finnlines' four-month results in May showed profits plunging…