Rolls-Royce Launches $933 M Offer For Vickers
British engineer Rolls-Royce Plc launched a surprise $933 million agreed cash offer for Vickers Plc, in a move aimed at making it the global leader in marine power systems.
Alabama Shipyard And Hollywood Park To Build Casino Vessel
Alabama Shipyard and Hollywood Park have signed a contract to construct a casino vessel for the Belterra Resort and Casino in Switzerland County, Indiana. Known as a diversified gaming company…
Worldwide/U.S. Gulf Rig Counts Rise
The U.S. Gulf of Mexico and worldwide offshore rig counts increased since last week, while the European offshore rig count was unchanged, according to Offshore Data…
BFI Increase Reflects Rise In Panamax Rates
Panamax vessels continued to attract higher rates last week, which was reflected in gains by the Baltic Freight Index (BFI) and the Baltic Panamax Index. The BFI jumped 19 points to 1…
VLCC Rates Ease Slightly, But Busier Time Could Be Ahead
Large tanker rates slid back slightly off recent highs this week as Middle East September stems drifted to their conclusion, brokers said. VLCC rates for Japan,…
Northwest European Exploration Decreased
Northwest European offshore oil and gas exploration activity lags previous year levels by 37 percent with only 40 exploration wells started so far this year compared with 64 at this point in 1989…
Geological Study May Reveal That Azeri Sector Can Offer As Much Gas As Oil
Closer geological study of the Azeri sector of the Caspian could reveal a greater tendency towards gas than oil in the sea's deep-water section, the chief geologist…
Yang Ming To Purchase Nine Containerships
Yang Ming Marine Lines approved a plan to issue $150-180 million in convertible bonds overseas to finance the purchase of nine new container ships. Yang Ming said it plans to buy seven ships…
NCL Sells Cruise Ship
Norwegian cruise operators NCL Holding ASA has agreed to sell the cruise ship Aida to Arkona Touristik for $181 million. NCL said the booked value of the vessel was $169 million…
Daewoo Heavy Gets $110 M For Two Ships
Daewoo Heavy Industries Co. Ltd., a unit of South Korea's Daewoo Group, won $110 million orders to build two ships for Norway and Hong Kong, company officials said.
Dredging Firms Play Down Talk Of Contracts
Two Dutch dredging firms played down market talk that they were about to place sizeable shipbuilding contracts with IHC Caland. Dredging and construction firm Ballast…
Controversial Fuel To Reach Port Soon
A nuclear fuel shipment to Japan that has stirred up protests by environmentalists is expected to reach port aboard two British cargo ships on Sept. 22, according to Japanese media sources.
Y2K Clauses: Don't Promise Too Much
While charterparties are, to a large extent based on standard forms, they are also subject to the inclusion of many amendments and additional clauses. These clauses need to be scrutinized with care…
Britain Releases Millennium Guide, Rates Worldwide Y2K Preparedness
Don't travel to Ukraine at the dawn of the new millennium. Avoid Russian airports, take extra cash to Egypt, and don't get sick in the Philippines. Be wary of air…
Software Offers New Features
International Communications and Navigation Limited, provider of marine electronic navigation and DGPS services has released new versions of its electronic charting…
Allen Appointed VP
Blue & Gold Fleet, San Francisco, Calif., elected Shelby Allen as vice president of sales and marketing, effective immediately. Allen, whose responsibilities include…
Mobile ISDN Service Unveiled
Inmarsat presented its new Mobile ISDN service at IBC, the International Broadcasting Conference in Amsterdam from September 10-14. This new service, developed with…
NCL To Buy New Cruise Ship
Norwegian cruise operator NCL Holding has finalized financing for the construction of a new 2,012 passenger cruise liner similar to the recently delivered Norwegian Sky.
Roekke Loses Bid To Win Full Control Of Aker
Norwegian billionaire Kjell Inge Roekke failed to win full control of industrial holding firm Aker RGI after a controversial buyout bid valuing the group at $1.16 billion.
Prices Stay High As OPEC Plans To Maintain Curbs
Oil prices marched boldly along near 32-month highs last week after key OPEC exporters said output cuts should be kept in place until March next year. On Sept. 14…
