Hyundai eyes Halla South Korean shipbuilder Hyundai Heavy Industries has re-emerged as the front runner to buy troubled rival Halla as intensive efforts to find an overseas investor appear to have failed.
Victory claim in battle to secure Iranian tankers order HYUNDAI Heavy Industries was last night claiming victory in the race to secure orders for five VLCCs from National Iranian Tanker Company (NITC), the second batch of a 10-VLCC fleet renewal programme by the Tehran-based owner.
K Line warns it needs time to recover after profits slide by 4.3% Kawasaki Kisen Kaisha (K Line) has reported a 4.3% decline to '1.60bn ($13m) in consolidated net profit for the year ended March 31, 1999.
BHP may sell overseas steel assets and focus on energy Australian petroleum and mining group Broken Hill Proprietary (BHP) is likely to sell overseas steel assets as it focuses on its energy operations, analysts said yesterday.
P&O turns its attention to Marghera yard P&O's Princess Cruises may have its new class of 85,000 gt, 1,000 cabin panamax vessels built at Fincantieri's Marghera yard in Venice rather than the shipbuilder's Trieste's Monfalcone yard, where all its six newbuildings have so far been built.
Profits at Lasco dip to $3.4m LATVIJAS Kugnieciba, the Latvian Shipping Company (Lasco), has reported a pre-tax profit of $3.4m for the first quarter of 1999, down from $4.2m in 1998. The company, which is up for privatisation, said the result was still better than expected.
Jamaica bans gay cruises Jamaica has made it clear it will not encourage gay cruiseship or hotel-based tourism, unlike at least one other Caribbean country, The Bahamas, which has welcomed several gay cruiseships to its shores.
Hull and cargo stuck in doldrums Both the hull and cargo insurance markets remain extremely difficult, but a number of insurers have begun to take steps to mitigate the effect of the soft market, the Liverpool Underwriters' Association said yesterday.
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