Article Abstract:
The Asian financial crisis and the entry of new chemical tankers have depressed cargo rates in the chemical industry which will adversely affect contracts that will be entered into or renewed. In particular, the Europe to Far East routes were the worst hit by the crisis with rates falling by 35-40% in 1998. Transatlantic rates declined by 25-30% while the Mediterranean and Northwest Europe rates suffered a drop of 25%. Other factors that contributed to lower rates were the drop in demand from the Asia Pacific region and increased competition.
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Article Abstract:
Cunard's flagship passenger vessel named 'Queen Elizabeth' has undergone extensive interior overhauling within a brief 25-day period. The ship was launched in the early 1970s and with the overhaul, it is expected to be in service until at least the first decade of the 21st century. Among the important changes are the widening of the stairway to cover both the upper deck and the boat deck and the relocation of the ship's restaurant.
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Article Abstract:
Estalieros Navais de Vianado Castelo (ENVC) became the only Portugese shipyard after Solisnor Yard announced that it will not accept new shipbuilding contracts until the industryimproves. ENVC's success in the international shipbuilding industry can be attributed to its massive production facilities improvement program which has bolstered its credibility.
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