Holyman To Support New Adsteam Offer
Ferry and transport group Holyman Ltd. will recommend a revised 65 cents a share cash takeover offer from Adsteam Marine Ltd. in the absence of a higher offer. Earlier…
NCL Expects $5.9 M Loss After Grounding
Officials of NCL Holding ASA announced that the company expects losses from the grounding of its Norwegian Sky vessel off Canada last week to total $5.9 million…
NOL Management Changes Causes Shares Rally
Shares of shipping and logistics group Neptune Orient Lines Ltd. (NOL) surged almost 10 percent last Tuesday on optimism over recent management changes, dealers said.
Moody's Rates Mitsui O.S.K. Lines Stable
Moody's Investors Service changed to stable from negative the outlook of its Ba1 senior unsecured debt rating and (P)Ba1 Japanese shelf registration rating of Mitsui O.S.K. Lines, Ltd.
Kirby Expects $10M A Year Savings After Acquisition
Kirby Corp., the nation's largest tank barge operator, expects to save at least $10 million per year due to its acquisition of Hollywood Marine Inc. Kirby agreed…
Moody's Comments On Sea Containers' Market Position
Moody's Investors Service assigned a Ba3 rating to Sea Containers Ltd.'s new $150 million senior notes, confirmed the Ba3 rating on its existing senior notes and…
'Buy' Rating Reiterated For Cruise Shares
Shares of cruise stocks, Carnival Corp. and Royal Caribbean Ltd., have traded down recently, with a sharp pullback following the recent release of the Consumer Confidence Survey.
Blueprint For Transportation System Unveiled
Addressing a projected increase in waterborne commercial vessel traffic that is expected to double or triple over the next 20 years, U.S. Secretary of Transportation Rodney E.
South Korean Foreign Ship Orders Drop
New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show.
Investigators Seek Cause Of LPG Tanker Blast
An investigation is underway into the cause of an explosion aboard a Liberian-registered LPG tanker that killed five people and injured eight others in a Philippine shipyard facility on Oct.
MSC Marks 50 Years Of Service
"MSC has been conspicuous because its people and ships generally have been where the action has been." Rear Adm. Rear Adm. Keener made this observation on the U.S.
Shipowners Say Industry Is Being Choked By Legislation
International shipowners said the maritime industry is being choked by legislation and that they are unfairly targeted as the culprits for all ills in the sector.
SembCorp Industries Looks To Become A Global Contender
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses…
Analysts Say Norwegian Offshore And Shipping Stocks Are Now A Good Buy
Norwegian offshore oil and shipping stocks are a good buy for investors who have time to wait to realize profits, according to analysts. Four out of six analysts…
Greenpeace In Legal Battle With U.K. Over Oil Exploration
Environmentalist group Greenpeace reportedly took the UK government to court over what it sees as Britain's failure to protect coral beds, whales, dolphins and other…
APS Management Restructured
Associated British Ports Holdings Plc is reorganizing top management at its American Port Services subsidiary, including appointing Douglas Tipton as head of the Seaport container terminal division.
Tanker Spills Heating Oil Near St. Petersburg
About 10 tons of heating oil reportedly spilled into the Neva River after a tanker ran aground in St Petersburg, Russia, but there was no immediate threat to drinking water or the environment…
Capesize Rate Jump Driven By Japanese Steel Market
Booming Capesize rates have been driven by increased Japanese steel production more than they were by the August market raid by Belgium's Bocimar when it chartered about 35 ships…
Large Tanker Fixing Slows, Rates Soften
Large tanker fixing out of the key Middle East market slowed this week as charterers had largely covered their October liftings, resulting in a softening of rates…
Keppel's Philippine Units Complete Consolidation
Philippine units of Keppel Corporation have reportedly completed the restructuring of their operations, which called for a consolidation of Keppel's domestic marine…
