MAN B&W Acquires Alstom Engines
Effective June 9, MAN B&W Diesel has acquired the Alstom Engines business, and effective immediately the Alstom Diesel engine business was renamed MAN B&W Diesel Ltd.
Canadian Rig Forced Out By Navy
Suriname's navy forced a Canadian oil company to remove a rig from an offshore concession granted by Guyana as a simmering border dispute between the South American neighbors came close to a boil.
GOM Rig Count Up One
The U.S. Gulf of Mexico offshore rig count rose by one from last week, continuing its rise, with 166 of the region's 200 mobile offshore drilling units under contract…
S&P: FGH Outlook Remains Negative
Standard & Poor's affirmed its single-'B'-plus corporate credit rating and single-'B'-minus subordinated debt rating on Friede Goldman Halter Inc. (FGH). The outlook remains negative.
Global Marine Picture Brightens
As the offshore drilling picture continues to improve, companies such as Global Marine should experience a healthy market capitalization boost as shares fly high…
Time Charters Dominate Panamax Market
Time charters again dominated static Panamax shipping markets. "Rates in the Atlantic are steady though new enquiries in the South American region for shorter timecharters are seeing earnings top $11…
Oil Prices Soar
World oil prices soared in volatile trading las Monday on short-term supply uncertainties and a question mark over whether OPEC producers would soon open their taps.
Oman, Pakistan Sign Marine Border Agreement
Oman's Foreign Affairs Minister Youssef bin Alawi bin Abdullah and his Pakistani counterpart Abdul Sattar signed a maritime border agreement in the Omani capital last Monday.
Hijacking Comes To Peaceful End
Stowaways who hijacked the 15,000 ton MV Med Star, an Italian merchant ship, off the Indian coast were persuaded to give up and the vessel was escorted to Bombay…
Specialties Cornerstone of Canadian Market
The past decade was a tough one for the Canadian shipbuilding market. It was a decade that produced a decline of both employment and decline of newbuilds, many of…
Icy Wasteland Or Shipping Utopia?
Controversy between the U.S. and Canada regarding the rights to the Northwest Passage became a frontburner item recently, based on the deployment by the U.S. of…
Greek Ferries: The New Business Model
The ultra competitive Greek ferry market has not only proven to be a fertile breeding ground for advanced marine technology, it has served as a role model for the…
Lubricant Technology Proven Tough Under Fire
When Texaco, now represented in the marine lubricants market by FAMM (Fuel and Marine Marketing), launched Taro 40 XL 40, the lubricant was designed to address pressing…
Efficient Bunker Buyers “Need to Know”
The bunker industry is witnessing interesting times. Throughout the last 12 months, prices have doubled for many grades of fuel, reaching unparalleled levels. At the same time…
Kurz Joins Hvide As CEO
In the latest of various corporate changes that have occurred at Fort Lauderdale, Fla.-based Hvide Marine, the company has elected Gerhard E. Kurz as CEO and a member of its Board of Directors.
A New Wave of Customer-Driven Offerings: The SAGA Process
In the past, companies have expanded their product lines via strategic acquisition of complimentary companies. More recently companies have expanded their product…
Wet Welding Provides More Than Quick Fix
The aim of any shipowner is obviously to keep a vessel in shape and operating for as many revenue-generating days as possible per year (cargo rates willing, of course).
FR. Fassmer & Co.: Keeping It In The Family
Fassmer-Shipyard this year celebrates its 150th year in business, and the companies' chronology is literally a case study in the effective use of and evolution of marine materials.
Norway To Simplify Licensing Rules
Norway's government wants to let firms other than pure oil companies apply for stakes in offshore oil and gas licenses as part of a drive to simplify the sector and attract investments.
New Satellite System Could Find Sunken Ships
A new European Union-backed radio satellite system could help find sunken ships, EU officials said, promoting the potential benefits of the "Galileo" satellite navigation system.
