Iran Makes $100 B Oil Find, Majors Compete For Big Deals
Iran has reportedly made its biggest oil find in 30 years, a giant 26 billion barrel field discovered just as the country is attempting to revive exploration activities.
Tanker Owners To Gain More Pull Through Information Sharing System
Tanker owners organization Intertanko is reportedly testing a system designed to give ship owners greater market clout through increased vessel/cargo information sharing.
California Company Settles Oil Spill Case For $9 M
Privately-owned company Pearl Shipping has reportedly agreed to pay $9.4 million in compensation for an engine fuel spill from one of its tankers off California last year.
Mitsubishi Heavy To Cut 5,000 Jobs, Forecasts Net Loss
Mitsubishi Heavy Industries Ltd. announced it will cut its work force by 5,000 under a new business plan to be drawn up by the end of October. Under the staff-reduction plan…
Louis Cruise Lines Acquire New Ship
Louis Cruise Lines reportedly acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, the M/S Mermoz, was bought from Prestige Cruises NV…
Latvian Shipping To Update Aging Fleet
Latvian Shipping has reportedly begun a renewal of its aging fleet by placing an order for six new tankers. According to company officials, the firm had signed a…
NCL Cancels Cruise After Canadian Grounding
NCL has reportedly canceled a cruise on the Norwegian Sky luxury liner after the vessel ran aground in the St. Lawrence River, Canada. The ship, carrying more than 2…
