U.S. Crude Imports To Continue To Rise
Due to declining domestic crude oil production and rising oil demand, crude imports will continue to increase over the next two decades accounting for 64 percent of U.S. oil supplies by 2020, the U.S.
Bollore Orders Six Containerships
French shipping-to-tobacco conglomerate Bollore ordered six new containerships from Taiwanese group CSBC for $190.3 million. The company said the ships would be…
Bath Iron Works To Launch AEGIS Destroyer
Bath Iron Works will launch its 10th Arleigh Burke Class AEGIS guided missile destroyer, Howard, on November 20 at the West Gate. The vessel bears the name of Marine Corps Sgt. Jimmie E.
FirstWave/Newpark Awarded Repair Contract
FirstWave/Newpark Shipbuilding was granted a contract by Pride Offshore of Houma, La. for repair and maintenance of the jack-up drilling rig Pride Colorado. The rig…
Oil Prices To Remain At Current Levels: Bankers
Central bankers meeting at the Bank for International Settlements reportedly expect world oil prices to remain around current levels, starting that higher prices are not in producers' interests.
Hanjin President Summoned By Prosecutors
South Korean prosecutors summoned Cho Su-ho, a President of Hanjin Shipping Co., for questioning over alleged tax evasion by Hanjin Group affiliates, according to…
Minoan Flying Dolphins Buys Six Ferries
Minoan Flying Dolphins bought six ferries, operating in the sea routes linking the ports of Piraeus and Rafina with the Cyclades islands, from businessman Costas Agapitos.
Experts Say Container Rates Will Rise Again
U.S. import container shipping rates on the Atlantic and Pacific should increase again next year, a senior shipping manager said, adding that most carriers will…
Greenpeace Wins Bid To Delay North Atlantic Exploration
Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental…
Jurong Shares Firm Amid Stock-Split Rumors
Shares of Jurong Shipyard Ltd. firmed by more than six percent in early Friday trading on rumors that the shipyard might announce a stock-split exercise to improve its liquidity…
Masa-Yards May Cooperate With Gdynia
Masa-Yards, a unit that Kvaerner has put up for sale, could cooperate in building vessels with the Polish Gdynia shipyard, a group official said. Gdynia shipyard had planned to bid for Masa-Yards…
Fincantieri Posts $246M Loss
Fincantieri posted a nine-month 1999 operating loss of $246 million. The company, on the government's privatization list, reported that the loss was due to continuing…
Panama Canal Water Supply Study Underway
A feasibility study to safeguard Panama Canal water supplies into the 21st century is under way, the waterway's project manager said. "Studies of potential water…
Norway's Oil Firms Address Millennium Issues
Oil firms in the final stages of testing for possible millennium disturbances on Norway's offshore oil and gas platforms say they are confident there will no major mishaps at midnight on December 31.
SS&Y Capesize Indices Fall
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 152 points to 4,194 in the week ending Nov. 1. "The index fell as only Chinese cargoes remained very active…
Offshore Rig Counts Mixed
The worldwide offshore rig demand declined since last week, according to Offshore Data Services' weekly mobile offshore rig count. While demand in the U.S. Gulf improved…
Abundance Of Ships Keeps Rates Depressed
Charter rates for product tankers continued to be depressed as surplus tonnage kept a lid on rises last week despite an increase in business in several loading areas. The Middle East saw levels fall.
Minoan Flying Dolphins Acquires Five Ferries
Minoan Flying Dolphins, a subsidiary of Minoan Lines, has acquired five used ferries that service routes linking the port of Piraeus with islands in the Saronic Gulf.
OPEC Compliance Slips
OPEC compliance with supply curbs appears to have fallen in October but from a level revised higher for September, according to a leading consultant. Preliminary…
LCL Buys Stake In Royal Olympic
Cyprus cruise operator Louis Cruise Lines has signed a deal to acquire a 51.4 percent controlling stake in Nasdaq-listed Royal Olympic Cruise Lines. The value of the agreement was not disclosed.
