P&O and Festival merger is off Citing "the continuing low valuations of cruise companies arising from current stock market perceptions in the U.S.," P&O and the Festival Cruises group have called off their proposed merger.
James Fisher in cableships coup JAMES Fisher and Sons is set to dramatically increase its exposure to the buoyant cableship market with the acquisition of two ships under conversion in Croatia in a deal worth £40m ($63.2m), writes Dale Wainwright.
New product tanker plans next on UK firm's agenda JAMES Fisher is looking to invest up to $40m in two new specialist tankers of 13,000dwt.
Oil boom boosts Norsk Hydro NORSK Hydro, the 44% state-owned Norwegian energy and industrial group, saw the oil price boom generate its best ever interim results, but warned that its plans are based on a "significantly lower" crude oil price than is now prevailing.
Shares surge as Ramco sells Azeri stake British oil explorer Ramco Energy yesterday sold its stake in the Azeri Chirag Guneshli production sharing agreement for fields off Azerbaijan and saw its shares surge by one-third to a new high.
New delays over MarAd reserve force contracts AFTER more than two years of courtroom battles and behind-the-scenes manoeuvring, the US Maritime Administration's effort to award more than $1bn in new management contracts for the Ready Reserve Force now looks certain to be frustrated well into the autumn and possibly beyond.
Californian ports seek rail reliability SOUTHERN California's maritime industry, seeking to forestall the kind of peak season rail delays that previously disrupted ship schedules and kept seasonal merchandise from reaching retail shelves on time, went directly to the railroads this year to determine readiness.
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