GD Appoints Welch As Senior VP
General Dynamics (GD) has named John K. Welch as senior vice president of the corporation and head of the marine systems group, which includes all of the company's…
Product Tanker Stays Strong In Mideast
The New Year started much as the old left off with product tanker markets strong Mideast-Far East and Tran-Atlantic but weak elsewhere. LR2 tanker rates for Mideast…
EU Pledges Clean-Up Of Unsafe Tankers
Following the latest oil spill incident off of France, the EU has said it will study ways in which to clamp down on unsafe oil tankers. The EU executive plans to…
Navy Choses Electric Drives For DD-21
The U.S. Navy will use electric drive in its new class of DD-21 destroyers. The new warships will use a diesel or turbine engine to propel the DD-21 and generate electric power…
GOM Well Fire Addressed
Callon Petroleum Co. reported that all equipment and manpower were in place to bring the fire on its South Marsh Island Block 261 well in the Gulf of Mexico under control.
SS&Y Capesize Indices Fall
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 125 points to 4,293 in the week ending Dec. 29. "The final Pacific Capesize Index of 1999 brought…
Offshore Rig Counts Make Mixed Moves
Offshore rig counts in the world's largest drilling markets made mixed moves this week, bringing the end to a year that was less than kind to the world's offshore rig owners. The U.S.
Dry Cargo Market Mixed
A one point gain on the Baltic Dry Index to 1,320 disguised some significant differences in freight market movements since the last trading day by the Baltic Exchange on December 24, brokers said.
Tanker Rates Expected To Rise In Year's First Half
Large tanker rates will increase during the first half of 2000 but freight prices will ease in the second period as new VLCCs are delivered, Norwegian shipbroker P.F. Bassoe A/S & Co. said.
Throughput At Port Of Rotterdam Falls 3.5%, But Conditions Are Improving
At 303.9 million tons, cargo throughput in the port of Rotterdam in 1999 fell by 3.5 percent. This decrease is less than the 3.7 percent in the first half-year,…
Oil Averages $18 In 1999
Oil prices in 1999 posted a 35 percent increase on average over 1998 in a triumph of output restraint by exporter group OPEC and key ally Mexico. International benchmark…
Transportation Accidents, Natural Disasters Mar 1999
o Jan 25 - A powerful earthquake rips through Colombia's central coffee-growing region killing at least 1,170 people. It measures 6.3 on the Richter scale. o Feb…
Seabourn Sun To Sail First World Cruise In 2001
Seabourn Cruise Line's recently refurbished Ultra-Luxury Resort Cruiser Seabourn Sun will sail its first World Cruise under its new name and insignia in the winter of 2001.
Cunard Revitalizes Legendary QE2
Cunard Line's Queen Elizabeth 2, the world's most famous ocean liner, has completed an $18 million refurbishment program. The refit took place at Lloyd Werft Shipyard in Bremerhaven, Germany from Nov.
Cunard Narrows Field To Five
Cunard Line says it has five bids from European shipyards to build the Queen Mary 2, a rare new transatlantic liner that will rank with the world's largest passenger ships upon its completion in 2003.
Moore Stephens Says Tonnage Tax Proposals Lack Flexibility
Shipping accountant Moore Stephens says draft proposals on the new U.K. tonnage tax regime lack the flexibility shipowners need for timing acquisitions and sales of ships.
Transas Advances The Navigation Process
The ECDIS era has arrived, with the type-approval of systems from Transas Marine. Transas' Jochen Rudolf and George Toma discuss the systems capabilities, advantages and future.
Transocean Sedco Forex Merger Establishes World's Largest Offshore Driller
Transocean Offshore Inc. has completed its merger with Sedco Forex, which was spun-off from Schlumberger Limited. The resulting company, Transocean Sedco Forex Inc.…
Suez Canal Sees $60M Turnover Increase In '99
The Suez Canal Authority (SCA) achieved an increase in turnover of $60 million in 1999 to a total of $1.8 billion, due mainly to toll discounts for long-distance ships.
Strong Finish To A Strong Year In Oslo
A December rally on the Oslo Stock Exchange gave maritime shares an extra glitter and ensured a strong finish to an already strong year. Shipping and offshore shares…
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