Baker Hughes To Record Second Quarter Tax Benefit
Baker Hughes Inc. will reportedly recognize a tax benefit of $20 million in the second quarter as a result of an agreement with the U.S. Internal Revenue Service…
Merger Throws European Steel Sector In Spotlight
Confirmation of merger talks between British Steel and Dutch group Hoogovens reportedly threw Europe's struggling steel sector into the spotlight as investors bet on the next takeover targets.
Kosovo Causes German Barge Shipping Losses
The blockage of the Danube in the Kosovo conflict is reportedly halting 80,000 tons of monthly shipments to and from Germany's inland waterways.
Daewoo Wins $65M Omani Port Deal
Oman reportedly signed a $65.5 million deal with South Korea's Daewoo Corp. to build a reef for a port in northern Oman.
Hyundai Heavy Aiming For KSE Listing
South Korea's leading shipbuilding firm Hyundai Heavy Industries Co. reportedly aims to list its shares on the Korea Stock Exchange in several months.
Obasanjo Insists on Bids For Nigerian Oil Blocks
Nigeria's new President Olusegun Obasanjo reportedly announced that future oil prospecting concessions would only be allocated through competitive bidding.
N.Hydro Says To Present Saga Bid Next Week
Norsk Hydro is reportedly planning to present a formal takeover bid for oil firm Saga Petroleum next week.
Statoil Says Withdraws Smedvig Lease Concelation
Statoil has reportedly withdrawn its cancellation of a one-year lease for the drilling vessel West Navion, owned 50-50 by Statoil's unit Navion and offshore firm Smedvig
Moody's Confirms Newport News Shipbuilding
Moody's Investors Service reportedly confirmed its debt ratings for Newport News Shipbuilding Inc following the announcement that Newport News will not increase…
Safmarine Calls Court Action Spurious
South African Marine Corp Ltd (Safmarine) will reportedly fight a court application to liquidate the company and denied that it could not pay debts linked to its charter unit.
Slovak Shipmaker May Face Crisis Due to Kosovo
Shipyard Slovenske Lodenice Komarno reportedly faces serious delivery problems due to the blockage of transport on the Danube in Yugoslavia.
Litton Wins Battle Over Avondale
Litton Industries Inc. reportedly sealed a deal to buy Avondale Industries Inc. and said it would press ahead with efforts to acquire Newport News Shipbuilding Inc. despite Pentagon opposition.
Evergreen in $3B Cruise Fleet Plan
Taiwan's shipping giant Evergreen Marine Corp said it plans to invest a massive $3 billion to build a cruise fleet to cope with the world's bullish tourism business.
NNS Will Not Boost Avondale Bid
Newport News Shipbuilding reportedly will not increase its bid for Avondale Industries, Inc., after Avondale said it was prepared to accept an offer from Litton Industries Inc.
J. Erik Hvide Steps Down
Hvide Marine named Jean Fitzgerald chairman, president and chief executive officer, replacing J. Erik Hvide, who resigned for personal reasons. Hvide will remain a member of the board of directors…
Friede Goldman In Deal To Buy Halter Marine
In a deal that will create the U.S.’ most prolific offshore building company, Friede Goldman International Inc. announced plans earlier this week to buy ship builder Halter Marine Group Inc.
Marine Drilling: Confident It Can Deliver On Time
Marine Drilling believes it will meet the July 15 contract deadline for the Marine 700 drilling rig but said that there is a risk it will fail. The readiness of…
Waratah Joint Venture Given Green Light
Waratah Joint Venture Given Green Light Waratah was cleared by Australian authorities to buy a towage business and tug from The Broken Hill Pty Co Ltd.
Avondale Prepared To Accept Revised Litton Offer
Avondale Industries Inc. will reportedly accept an increased cash takeover bid from Litton Industries Inc., forgoing a previous all-stock merger agreement with Newport News Shipbuilding Inc.
Chevron Threatened In Nigerian Ethnic Clashes
Chevron Corp. reportedly contacted Nigeria's newly-installed democratic government over threats by ethnic Ijaw militants to its facilities in the latest fighting in the oil region.
