As VLCC Rates Continue Upward Sprint, Modern Vessels Become Scarce
This week's sprint upwards by Mideast crude tanker rates is set to turn into a marathon as modern vessels become harder to find, brokers said, adding that experts…
Stena Line Eyes Slight Improvement For 2000
Officials of loss-making Stena Line said the company expects a slight improvement in earnings for 2000. However, they said, the recovery will not occur until the second half of the year.
Seascope Diversifies From Shipping Base
British shipbroking group Seascope Shipping Holdings Plc plans to diversify further beyond its core business despite expecting better shipping markets this year.
Submarines To Be Used As Ore Carriers?
Russian metals giant Norilsk Nickel has finished a feasibility study of a project to use nuclear submarines for ore shipments, which once started will cost $80 million, Norilsk's chairman said.
Rotterdam: News From The World's Largest Port
Baltica Line has risen the frequency of its Saint Petersburg service . By deploying a third vessel it is possible to offer a sailing from Rotterdam every five days instead of 10. Mr.
Evergreen Changes Pacific Schedules
Evergreen announced changes to its Pacific Coast/ Far East services in order to improve transit times and benefit customer service requirements between Asia and U.S.
Delayed Evolution
reason that maritime - as usual - will be slow to catch the wave. A frantic dash to set up tanker trading and information websites is being touted as the end of the traditional shipping marketplace…
OPEC Mulls Adjusting Output Again In The Face Of Plummeting Prices
OPEC President Ali Rodriguez said that the oil cartel could alter its production levels before its members meet again in June if the 20-day average price of its…
Oslo Stock Watch
Shipping and offshore shares performed well in March with an increase in the Shipping Index of 2.3 percent. The Oslo market as a whole fell 2.2 percent, much due…
RINA Report Deflects Sole Blame In Ship's Loss
Facing intense international scrutiny from within and outside the maritime community following the break-up and loss of the Maltese-flag tanker Erika, Italian classification…
Offshore News
R&B Falcon Confirms U.S. Reading & Bates Development Co. (DEVCO), a wholly owned subsidiary of R&B Falcon Corporation, announced its Boomvang Project in deepwater offshore Texas is proceeding rapidly.
Lease Sale in GOM Attracts $ 300 Million in High Bids
The U. S. Department of the Interior's Minerals Management Service (MMS) in New Orleans held a sale of offshore oil and natural gas leases in the Gulf of Mexico…
Legal Matters
The Executive Office of Environmental Affairs (EOEA) for the Commonwealth of Massachusetts has modified the scope of an application for the designation of a "no-discharge zone." In 1998…
Supreme Court Rules Federal Law Preempts State Tank Vessel Regulations
A unanimous Supreme Court ruled the state of Washington overstepped its authority in attempting to regulate the operation of tank vessels in state waters. The Court's…
News Briefs
First Wave/Newpark Shipbuilding, in Galveston, Texas, has had a busy spring. First, the company was awarded a contract by Diamond Offshore Drilling to install a…
Caterpillar Completes Acquisition of Sabre Engines Ltd.
Caterpillar Inc. has acquired Sabre Engines Ltd., a family-owned company in the U.K. specializing in high-performance marine diesel engines. "Caterpillar is proud…
Offshore Market 2000: In like a lamb, out like a lion?
Though fraught with traditional starts and stops, peaks and valleys, it appears now the much-anticipated Gulf of Mexico offshore business rebound is imminent. Maybe.
New Vessel Deliveries
Seacraft Shipyard Corp., Amelia, La., recently delivered M/V Sea Holly, a 110 ft. live-aboard long range yacht, designed for extended excursions. The entire exterior…
SeaArk Marine Awarded Contract
SeaArk Marine, aluminum work and patrol boat builder, was recently awarded a contract to built six 40 ft. Dauntless Class patrol boats by the U.S. Navy. The SeaArks…
Small Boat Construction Using 3D Modeling
Developments in boatbuilding have been driven by needs to simplify the engineering and manufacturing components. One desired effect is, of course, to become more competitive; one can look ?
