Harland & Wolff seeks lifeline Harland & Wolff is urgently seeking a refinancing package to stave off receivership as its '133m ($219.4m) drillship dispute with Global Marine now looks set to go to arbitration.
UPS chairman Jim Kelly . . . United Parcel Service chairman Jim Kelly waves a stock certificate on the floor of the New York Stock Exchange after the company launched its $5.5bn initial public offering, the biggest in US history. NYSE chairman Richard Grasso applauds the opening. UPS will use its publicly traded stock as currency to make acquisitions in logistics.
Seascope expands with GFL acquisition LEADING London shipbroker Seascope's ambitions in financial services took a leap forward yesterday when the group unveiled the acquisition of GFL, specialists in structured finance mainly for the shipping industry.
CGU says market will converge at Lloyd's The UK's largest composite insurer CGU yesterday said that it believed that the London marine market would increasingly converge at Lloyd's as other insurers followed its lead.
Lifeline for Royal Olympic ROYAL Olympic Cruise Lines is to get an immediate $5m loan to relieve its cash plight as part of its agreement to allow Louis Cruise Lines of Cyprus to buy a controlling stake in the company.
Screen to protect Norne from waves NORWEGIAN oil giant Statoil said it was erecting a screen along its Keppel FELS-built, 100,000 dwt Norne production ship's starboard side, to protect her against waves washing over the bow and tank deck.
TMM link for Stolt Neilsen Leading chemical tanker group Stolt-Nielsen has formed its second joint venture within the space of a month to exploit business opportunities in the Americas.
Crociere's Costa Atlantica to be floated today CROCIERE'S Costa Atlantica, the largest cruise vessel ever built for a European shipowner, is to be floated today at Helsinki's Kvaerner Masa-Yards, writes Giovanni Paci, Helsinki.
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