Golden Ocean restructures The Golden Ocean Group--which has more VLCC tonnage on order than anyone else--has reached an accord with bond holders that "provides the company with breathing room through the short term while sector fundamentals work themselves out."
China to take 40% of shipbuilding market China will build 40 per cent of the world's ships within the next 20 years as Europe withdraws from the business and the Japanese market share is slashed.
NCL finalizes contract with Lloyd Werft Norwegian Cruise Line has finalized a contract with the Lloyd Werft shipyard in Bremerhaven, Germany, to build a 2,000 passenger, 80,000-ton ship to be delivered September 1, 2001.
OT Africa Line falls to Bollore FRANCE'S Bollore Group is buying OT Africa Line, the British-based shipping company that specialises in the Europe-West Africa trades.
Bondholder deal cuts Golden Ocean debt burden GOLDEN Ocean Group has been given a fresh lease of life following a restructuring deal with bondholders that will reduce the company's debt servicing burden by $30m a year.
Twin boost for Fisher expected next year from UK tonnage tax BRITISH shipping group James Fisher is next year looking forward to enhanced earnings per share and improved net asset value thanks to the recently announced plans for a tonnage tax regime in the UK.
Profits slump to Fls24m at Ballast Nedam DUTCH dredging group Ballast Nedam had a disappointing half year, with its net profit slumping from Fls37m ($17.8m) this time last year to Fls24m this time.
Costa Crociere in $1bn agenda Leading European cruise operator Costa Crociere has unveiled a $1bn fleet expansion plan to be completed by 2003.
Liverpool to Europe rail project to tap road haulage sector RAPIDLY growing road freight between the UK and mainland Europe, estimated at 7m units by 2009, will provide the core traffic for a proposed '5.5bn ($8.8bn) rail link between Liverpool and the Channel Tunnel.
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