Oil's Merger Year Leaves Some In The Lurch
TotalFina's European energy merger with Elf has tied up the rejuvenated oil sector's last obvious pairing but more marriages may still be on the cards. The revival…
Supreme Court Orders Review Of West Coast Tanker Rules
The proliferation of national, regional and local regulations which effectively dictate the design and outfitting of oceangoing ships are viewed with great disdain…
Norway Snuggles Up to Other Oil Producers
Norway, shocked by a collapse in oil prices last year to below $10 per barrel, has lifted contacts with other crude producing countries to unprecedented levels,…
Halter And Friede Goldman Amend Merger Terms
Halter Marine Group and Friede Goldman International have agreed to amend the terms of their proposed merger due to developments related to a contract dispute with a significant customer…
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…
LISCR opens London office
Liberia International Ship & Corporate Registry (LISCR), the new operator of the Liberian Register, is to open a London office on October 1. Captain Tony Goddard…
OT Africa Line to be acquired by the Bollore Group
The Bollore Group has signed a contract with the aim of acquiring OT Africa Line, the British shipping line, and its landside network in Africa. The object of this…
Supreme Court Orders Review Of W. Coast Tanker Rules
INTERTANKO's long fight to overturn what it sees as unfair and damaging tanker legislation in the U.S. West Coast region is gaining ground, as on Friday, September 10, 1999, the U.S.
Parker Terminates Deal
Parker Drilling Company and Superior Energy Services, Inc., have jointly agreed to terminate their merger agreement, in which Parker was to acquire Superior in an exchange of stock.
FirstWave/Newpark Contracted for Drill Rig Upgrade
Schlumberger/Sedco Forex has contracted FirstWave/Newpark Shipbuilding for upgrades and maintenance work on the offshore semi-submersible drilling rig Bill Shoemaker.
Innovative Process for Drilling Planning
John E. Chance & Associates, Inc., of Lafayette, La., has developed an innovative process to capture a clearer picture of the ocean bottom and construction near a structure.
Elf, TotalFina Agree On Friendly Merger
French oil company TotalFina has reportedly agreed a friendly merger deal with Elf Aquitaine, bringing to an end their takeover fight and creating the world's fourth largest oil company.
Roekke Fails 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 that ended Sept. 10. Roekke…
Container Lines To Impose Surcharges
Container shipping lines operating on the Atlantic will reportedly start imposing surcharges to reflect rising bunker fuel costs. A bunker adjustment factor of $21…
Supreme Court To Review Washington Tanker Regulations
The U.S. Supreme Court has reportedly ordered a review of autonomous regulations imposed by the state of Washington on oil tanker operations. In 1995 the state imposed extra regulations on tankers…
Cruise Ship Aida Sold For $181M
NCL Holding ASA agreed to sell the cruise ship AIDA to Arkona Touristik for $181 million. NCL said the booked value of the vessel was $169 million and the debt on the ship was $106 million.
SembCorp Completes Rig Job
SembCorp Industries reported that its engineering and shipyard units have jointly completed the fabrication and assembly of an offshore rig for Woodside Energy of Australia.
S&P Lowers Pacific & Atlantic Rating
Standard & Poor's yesterday lowered its long-term corporate credit ratings on Pacific & Atlantic Holdings Inc. to double-'C' from triple-'C'-plus. The downgrades…
Market Offers Positive Features For Owners
An increase in caper demand and consequent higher rates coupled with significantly stronger levels of enquiry for panamaxes, especially from Japanese charterers in the Far East…
Tanker Rates Strengthened Slightly In Middle East, Asia
Freight rates for Korea-bound VLCCs out of the Middle East joined those for Japan in hitting W50 by Sept. 3, brokers said. At least one fixture of W50 was reported for Korea…
