Moeller Says '99 Shipping Profits To Be Up From Last Year
A.P. Moeller - parent of the world's leading container shipping company Maersk Line -announced last week that full-year 1999 operating profit on shipping activities would exceed last year's.
Oil Price Drops As Speculators Jump
Euphoria surrounding the soaring price per barrel of oil soured a bit last week, as world oil markets took a nosedive as speculators apparently decided the rally…
Interest Declining In Offshore Acreage Leases
Preliminary results of the latest government sale of offshore oil and natural gas exploration acreage leases in the U.S. Gulf of Mexico show a decline in oil company interest in the properties…
Vickers Positions For Marine Propulsion Domination
Vickers PLC has recently made a major commitment to the marine market, most recently with its acquisition of Norwegian propulsion company Ulstein Holding for $476.8 million.
Singapore Initiates Y2K Readiness Drill On NOL Vessel
As the conclusion of 1999 comes quickly and worries surrounding the unknown effects of the Y2K bug grow stronger, more maritime entities around the globe are increasing…
Naval Shipyards To Get More User-Friendly Advanced Industrial Management Software
A more user-friendly version of the computer software naval shipyards use to plan and execute availabilities will soon be available to all naval shipyard project teams. On Aug.
NAVSEA's Self Defense Test Ship Returns To Sea
One of the Naval Sea Systems Command's more unique test assets, the Self Defense Test Ship (SDTS), recently got underway for sea trials after receiving a full range of repairs.
Cammell Laird Shares Shoot Up After 9:1 Split
Shares in ship repairer Cammell Laird Holdings Plc. rose early last week after a nine-for-one share split made the stock more attractive for private investors. The shares closed on Aug.
U.S. Jobs Retained On Reflagged Tankers
U.S officer and seamen jobs on six liquefied natural gas (LNG) tankers will be retained after the tankers are reflagged from the U.S. The merchant marine jobs will…
Japanese Foreign Ship Orders Plummet
Japanese shipyards received foreign orders for 21 vessels totaling 581,100 grt in July, down 39.6 percent from a year before, the Japan Ship Exporters' Association reported.
ING Raises Ratings On Oil Companies
ING Barings has raised its ratings of the shares of several oil and gas companies. ING raised Burlington Resources to strong buy from hold, Transocean Offshore to…
Broere Shipping Wins Dow Deal
Broere Shipping won a contract from Dow Benelux, a unit of U.S. group Dow Chemical Co., to transport 800,000 to 900,000 tons of fluid chemicals per year to various ports in Northwest Europe.
Hyundai Wins Bulker, Containership $400M Deal
Hyundai Heavy Industries Co. won $400 million in orders from Greece to build five containerships and four bulk carriers. Hyundai Heavy said the 5,500 TEU containerships…
IAPH Slated For South Africa in 2003
South Africa's port authority Portnet has been chosen to host the International Association of Ports and Harbors (IAPH) global conference in April 2003. The hosting…
Bollinger Shipyards Agrees On Modification/Conversion Project
Bollinger Shipyards, Inc. has signed a contract for modifications and conversions for MSV Ocean Intervention, a multi-purpose support vessel owned by Oceaneering International, Inc.
$21.2 Billion Canal Proposed
Thailand is expected to begin construction soon of the Kra Canal from the Indian Ocean to the Gulf of Thailand which would allow ships to bypass Malaysia and Singapore.
USACE Awards Contract for KVK Deepening
In what is considered to be the biggest dredging project ever undertaken in New York Harbor, the USACE New York District awarded a $23.6 million contract to Great Lakes Dredge and Dock Co.
Atlantic Marine Repairs Cruise Ship
Royal Caribbean's Monarch of the Seas spent three months in drydock Alabama, at Atlantic Marine's Mobile, Ala. facility, earlier this year. The vessel required approximately…
Bisso Salvages Mackerel
Bisso Marine salvage crews raised M/V Mackerel from the Mississippi River. The vessel capsized and sank as it was entering the river from the Algiers Lock. A severe…
Explosion Kills Two On Bulk Carrier
Two Filipino sailors were killed and one seriously injured in an explosion aboard the bulk carrier Karteria in the Atlantic. Athens-based General Maritime Enterprises Corp.
