Chevron Funds Upstream Growth in $5.1 Billion Capital Program
Chevron Corp. announced a $5.1 billion capital and exploratory spending program for 1999 and a plan to reduce expenses in 1999 by $500 million. The planned actions…
Unocal Sees Lower 1999 Capital Spending
Unocal Corporation said it expects 1999 capital spending to total between $1 billion and $1.1 billion, down from the estimated $1.7 billion in capital expenditures last year.
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.
First K98MC Engine Is Successfully Tested
Earlier this year, MAN B&W's Korean licensee, Hyundai Heavy Industries began production of the first MAN B&W 7K98MC type engine. The structure was completed in August…
Defense Authorization Conferees Support Navy/Shipbuilding Industry
The Conferees on the Defense Authorization Bill, S.1059, for fiscal year 2000 wrapped up their conference after providing "Extended Lease" authority of 20 years…
Groupe Desgagnes Expands Fleet
Group Desgagnes marked the Canadian registration of a new oil tanker purchased in China - in addition to a Russian vessel purchased in August 1996. Constructed in…
Baltimore Marine Industries Awarded Various Contracts
Baltimore Marine Industries (BMI) has been granted several new contracts for ship work, including one valued at more than $2 million for the drydocking and maintenance of USNS Butte…
Celsius To Create Substantial Submarine Builder
Swedish defense group Celsius announced that it was merging unit Kockums Naval Systems with Germany's Howaldtswerke-Deutsche Werft (HDW) to create a leading global…
NOL Expects Overall Profit For Year
Neptune Orient Lines Ltd. (NOL) expects a better second half and overall profit in the current year. NOL said the bottoming out of the Asian economic crisis had…
Kawasaki, Mitsui To Cooperate On Shipbuilding
Kawasaki Heavy Industries Ltd. and Mitsui Engineering & Shipbuilding Co Ltd. apparently have agreed to cooperate widely in shipbuilding to enhance their competitiveness against South Korean shipyards.
Mitsubishi Eyes Latvian Shipping
Latvia's privatization agency said that Japan's Mitsubishi group had expressed interest in the privatization of Latvian Shipping. The agency has set the minimum…
ITF To Board FoC Vessels
Flag of convenience (FoC) vessels in European ports will be targeted by transport unions in a week of action from Monday, Sept. 27, the International Transport Workers' Federation (ITF) said.
Shippers Call For Container Cartel Reform
Cargo shippers from Europe, Asia and the U.S. called for the repeal of international maritime legislation protecting container shipping price fixing groups from normal anti-trust rules.
Cascade General Performing Repairs To Bulk Carrier
During its run along the Columbia River to unload steel in Vancouver, Wash., a 568 ft. (173 m), 36,788-ton Turkish bulk carrier, Cenk Kaptanoglu collided with the BHP dock in Kalama…
Unicon And Poseidon Join Forces
Unicon International and Poseidon Services International have formed a joint cooperative agreement to utilize Poseidon's Orion Maintenance and Management System for Unicon's new Unirepair service.
Atlantic Marine Completes First Steel Cut
Atlantic Marine, Jacksonville, Fla., has accomplished its first cut of steel for its new fleet of 226-passenger U.S.-flag coastal ships, Delta Queen Coastal Cruises.
Coflexip Stena Signs Contract With Hyundai Mipo
Coflexip Stena Offshore came to an agreement with Hyundai Mipo Dockyard for the construction of its newbuild ultra deepwater pipelay and construction vessel, scheduled…
Fire Breaks Out On Tropicale
A fire reportedly broke out in the engine room of the Carnival Cruise Lines ship Tropicale on Sept. 19, causing the ship to lose propulsion. The fire was extinguished…
Hyundai Heavy To Build Two VLCCs
South Korea's Hyundai Heavy Industries has reportedly signed a memorandum of understanding with Overseas Shipholding Group Inc. to build two 308,000-ton VLCCs. A…
Prominent Shipowner Dies
Prominent Greek shipowner John Adamantios Hadjipateras, chairman of the London-based Greek Shipping Cooperation Committee for the past 18 years, died of heart failure at an Athens hospital Sept.
