Spill ship leaves Sydney The Laura D'Amato has now left Sydney Harbor, Australia, for Singapore. The Sydney Morning Herald reports that the owners, through their insurers, have lodged a security of Australian$ 8 million (US$5.2 million) to cover expected clean up costs and the maximum fine of A$1.1 million ($715,00).
MarAd cuts Massachusetts Heavy Industries a break on missedTitle XI interest payment The U.S. Maritime Administration has granted Massachusetts Heavy Industries a six month deferral on a missed interest payment
Prosecution likely in Australian spill The Sydney Ports Corporation says a prosecution is likely against the owners of the Italian tanker Laura D'Amato, which spilt 80,000 liters of oil into Sydney harbor, Tuesday, August 3.
Clarkson spreads its wings LEADING global shipbroker Horace Clarkson yesterday announced plans to diversify from its core shipbroking business through the acquisition of a 50% stake in Hong Kong-based shipmanager Univan.
Royal Olympic top level shake-up ROYAL Olympic Cruise Lines, fighting for recovery after being hit by customer resistance during the Kosovo crisis, has disclosed more changes at the top.
British Marine members net $20m MEMBERS of independent P&I club British Marine Mutual, which is to demutualise to become a fixed premium facility, are to share a net windfall of $20.6m, it has been revealed by the club.
Moody's give B1 rating for Gemini Leasing CREDIT ratings agency Moody's has assigned a B1 rating to the $160m senior secured credit facility of Gemini Leasing , the special purpose subsidiary of freighter lessor Gemini Air Cargo, writes Roger Hailey.
Oslo exchange vows reform as president quits WOUNDED by allegations of insider trading, the Oslo Stock Exchange has vowed to accelerate plans to clean up its act following the sudden resignation of its president.
Grimaldi takes on Tirrenia on Sardinia ferry fares GRANDI Navi Veloci, the cruise ferry subsidiary of Grimaldi Group Genova, has taken a decisive step to demonstrate that a private shipowner can supply passenger ferry services in Italy without any state subsidies.
Capesize sector optimistic following Bocimar timecharter SECONDHAND capesize values could be on the verge of a turnaround following Antwerp-based Bocimar's optimistic commitment in the period timecharter sector.
Tanker grounded in Maracaibo channel refloated Liberian flagged tanker Marshal Chuykov has been successfully refloated after going aground last week in Venezuela's notorious Maracaibo channel.
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