U.S. Continues To Pressure OPEC
Oil resumed its slide on Wednesday as Washington kept up pressure for a big OPEC output rise to prevent a politically-damaging U.S. gasoline shortage. International…
EU Proposes Tight Shipping Law To Prevent Future Oil Spills
The European Union's (EU) executive body on Tuesday proposed tightening EU shipping laws to prevent a repetition of the environmental disaster caused by the breakup…
S&P Revises American Commercial Lines Outlook
Standard & Poor's today revised its outlook on American Commercial Lines LLC - the largest operator of dry bulk commodity barges - to negative from stable. At the same time…
Carnival Signs Letter Of Intent With Fincantieri
Miami-based Carnival Corp. said on Wednesday it plans to build a new $500 million, 110,000-ton ship in Italy for its cruise lines unit. A Carnival spokesperson said…
Transocean Sedco Forex Gets BP Amoco Contract
An operating subsidiary of Transocean Sedco Forex Inc. has entered into a contract with BP Amoco for the semisubmersible Transocean Rather. The agreement covers one well…
Oilfield Stocks Take A Hit As Crude Dips Below $30
Profit-taking hit oilfield service and drilling stocks on Monday as U.S. crude oil prices shed over a dollar to dip below $30 a barrel for the first time since February 28.
NOL Shares Surge, 1999 Results Seen Strong
Shipping and logistics group Neptune Orient Lines (NOL), which lost more than half its market capitalization since the start of the year, saw a staggering 26 million shares traded on Tuesday.
Kvaerner Sells Fabrication Yard, Changes North Sea Strategy
Kvaerner is selling its U.K. Teesside fabrication yard and reducing its reliance on North Sea offshore business, a company official said. The decision to sell the…
