FTC Waives Termination Avondale Takeover Wait
The Federal Trade Commission granted early termination of the waiting period required under federal law for its proposed sale of Avondale Industries Inc. to Litton Industries Inc.
Work Stoppage Closes Port of Oakland
Longshore workers kept the Port of Oakland, California shut for a second day Wednesday as union officials studied a wage and benefits offer. The Oakland work stoppageā¦
Kvaerner Rejects GEC Bid For Govan
Kvaerner, which announced in April it was moving out of shipbuilding, reportedly rejected a bid by General Electric Co.'s shipbuilding and defense unit Marconi to buy its Govan shipyard.
Nigeria Cancels Award Of 16 Oil-Prospecting Blocks
Nigeria's government reportedly cancelled the award of 16 oil-prospecting blocks by the military government, which stepped down in May.
Analysts See Oil Glut Over By End Of September
OPEC oil exporters are reportedly on course to wipe out surplus inventories of crude oil and petroleum products by the end of September, even before the start of peak winter demand.
Tanker Scrappings Up As Second Quarter Demolitions Rise
Tanker scrapping reportedly shot up while the disposal of bulk carriers diminished as the total deadweight tonnage of ships sold for demolition rose by five percentā¦
Dutch Shippers Pakhoed, Van Ommeren To Merge
Pakhoed NV and Koninklijke van Ommeren reportedly plan to merge into a European powerhouse with $3.43 billion in annual sales.
Panamax, High Spec Handymaxes Ship Prices Up
Panamax dry bulk carrier ship sales prices reportedly continued to improve last week and also climbed for well equipped Handymax ships.
OOCL, Wan Hai To Start Direct China-Mid East Route
Orient Overseas Container Line (OOCL) and Wan Hai Lines Ltd. will reportedly operate a joint direct container shipping service directly between North China and the Middle East.
Russian Seaborne Crude Exports Down In June
Crude oil exports from the four leading ports in the former Soviet territories reportedly slipped to 1.28 million bpd in June from 1.445 million bpd in May.
Sait, STN Atlas Merge Marine Activities
SAIT-RadioHolland is reportedly merging its marine activities with those of German STN Atlas, part of the Rheinmetall Group.
Sait, STN Atlas Merge Marine Activities
SAIT-RadioHolland is reportedly merging its marine activities with those of German STN Atlas, part of the Rheinmetall Group.
Hutchison Whampoa To Seek New York Listing
Hutchison Whampoa Ltd. reportedly plans to seek a secondary listing for the company's shares in New York.
Guinea To Pay Compensation In Shipping Dispute
A U.N. maritime court reportedly ordered the West African state of Guinea to pay St. Vincent and the Grenadines in the Caribbean more than $2.1 million for firing at sailors on the oil tanker Saiga.
Petrobras, Exxon To Sign Brazil Oil Deals
Petrobras will reportedly sign two much-awaited oil exploration and production joint venture contracts with U.S. petroleum giant Exxon.
LR Goes Navy
Cracking new markets, U.K. ship classification body Lloyd's Register launched Naval Ship Rules, a move expected to result in cheaper, better warship.
Aalborg Buys Marine Boilermaker
Aalborg Industries bought Dutch marine boilermaker Wiesloch Marine & Industries/Wiesloch Beheer.
R&B Falcon Barge Destroyed
R&B Falcon Corp. reported that one of its inland drilling barges was destroyed in a blowout and fire at a natural gas well in southern Louisiana. The loss of theā¦
Fleet Finance Negotiations Continue
Ukraine's Ukrrichflot is reported to be negotiating a new loan to build five ships. The company owns the country's largest fleet, with 68 passenger ships and 248 freighters.
Score One For The Crews
In a good news/bad news ruling, a London judge ruled in an appeal case that a crew's rights to wages from the proceeds of a vessel's sale took precedence over a bank holding a mortgage over the ship.
