India Eases Norms For Ship Imports
India has eased norms for the import of ships, the government announced last week. Import of ships by open general license (OGL) under a bareboat charter-cum-demise method…
U.S. Petroleum Inventory Drops, Oil Prices Soar Higher
Oil's eight-month rally hit yet another high Sept. 29 as dealers cited news that U.S. petroleum inventories had dropped to near-three-year lows as proof OPEC supply…
World's First Floating Resort Scheduled To Set Sail In 2001
The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, company officials said.
Drilling Sector May Have Missed Chance For Consolidation
Despite the announcement of a large offshore drilling merger this summer, the fragmented industry may have missed its chance for further consolidation due to a recent swift cyclical upswing…
Frontline Wins Two-Year Fight For Control Of ICB
A two-year battle for Swedish tanker company ICB Shipping ended Sept. 23 in victory for Norway's Frontline - but only after four of 12 ICB tankers are sold to a new group set up by key ICB players.
Improving Rates May Help Shippers Cope With Fuel Costs
Shipowners are now better placed to cope with soaring fuel prices because of growth in trade as Asia recovers from economic crisis, industry sources and analysts said.
