More Jones Act wrangling in the Senate The never ending Washington preoccupation with the Jones Act continues. This time, it's the act's U.S.-build requirements that are in the spotlight.
Bazan will place big orders in Norway Norway's Aftenposten reports that Spanish shipbuilding group Bazan will subcontract with Norwegian suppliers for NOK 4.2 billion if it is awarded the contract for building six new frigates for the Royal Norwegian Navy. The overall contract is worth NOK 12 billion.
Cyprus hints at class war Cyprus has welcomed Class NK's move earlier this week to accept criticism for the parlous condition of two Greek-owned bulk carriers under Cypriot flag.
Taiwan Navigation picks Japan for bulker spree Taiwan Navigation will order its first new ships in a decade in a forthcoming dry bulk shopping spree at Japanese shipyards.
Mitsui OSK profits to see merger boost Mitsui OSK's profits are projected to jump by 17% to '23bn ($194.9m) for the year to the end of March 2000, according to leading business sources.
Message from Japan MESSAGE FROM JAPAN: Bank of Japan deputy governor Sakuya Fujiwara addresses central bankers at a conference entitled central banking policies in Macao yesterday. The first part of the two-day conference was marked by mixed messages from the world's leading central bankers on the remedies for the recovery of Asia's economic crisis.
Call to arms to fight piracy Crews should be armed when crossing piracy hot spots, a number of British officers argued yesterday.
New deadlines for ferry safety The British government yesterday published the latest timetable setting deadlines for when all ro-ro ferries must meet stricter international safety rules, writes Our Parliamentary Correspondent.
BT Shipping Reports Loss BT Shipping Ltd. reportedly made a first quarter net loss of $1.9 million compared with a net loss of $500,000 in the same period of 1998. Revenues declined to $9.1 million from $12.7 million.
S&P Downgrades Cenargo Standard & Poor's has revised its outlook on Cenargo International Ltd. (Cenargo) to negative from stable. In its analysis, S&P noted that the company will be unable to maximize its cash flow generation until: -- It takes delivery of two additional RoPax vessels in early 2000, and -- It is able to invest some $54 million of escrowed funds resulting from the sale of vessels since the bond issue.
Container Shipping Rates: Going Up? Westbound container shipping rates will be increased from June 15, according to the Trans-Atlantic Conference Agreement (TACA). Rates reportedly will rise by $120 per 20 ft container and $150 per 40 ft container.
E.A. Gibson: Product Tanker Rates Push Higher In its weekly report, shipbrokers E.A. Gibsons say that global chartering of clean product tankers picked up, helping to push rates higher in some key loading sectors. The organization reports that 40-45,000 ton cargoes out of the Middle East Gulf were attracting W160 for trips to India.
Holyman Sells Ferry For $6M Holyman Ltd. has reportedly sold a fast ferry for US$6 million to Catalina Cruises.
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