McAlear Named CEO Of Kvaerner Philadelphia Shipyard
Kvaerner, the Anglo-Norwegian engineering and construction Group, has elected Ronald J. McAlear, as CEO of its Philadelphia Shipyard. He replaces Baard Bale, who…
Tanker Shortage To Squeeze Northeast's Oil Supply
A shortage of U.S. oil tankers will cut sharply into Northeast heating oil and gasoline supplies next month and will add to upward price pressure to refined products through the winter…
Mississippi Traffic Stalled
Barge traffic on the upper Mississippi River was slowed on Oct. 24 when a 600-foot section of the river was closed to remove 1,400 tons of rock that was dislodged from a barge, a river official said.
HK, U.K. Sign Double Taxation Legislation
Hong Kong signed an agreement with Britain to avoid double taxation on shipping, exempting owners of Hong Kong ships from paying tax levied on cargo taken up in Britain, and vice versa.
Divers Make First Hole In Kursk, Send Camera Inside
Divers trying to recover the remains of 118 sailors from the wreck of the Kursk submarine have cut the first man-sized hole in the vessel, a Russian navy spokesman said.
Japanese To Combine Tanker Ops
Nippon Mitsubishi Oil Corp. and Cosmo Oil Co. Ltd., Japan's largest and third-largest oil refiners respectively, will integrate their tanker operations in November…
Report: Deepwater Development Will Outpace Equipment Supply
The booming global deepwater oil industry is on course to outpace supply of offshore development hardware in the next two years, according to an analysts' report.
Chevron Announces Strong 3Q Results
Chevron Corp. said third-quarter profit surpassed expectations, with earnings more than doubling on the back of surging oil and natural gas prices. The oil company…
Shipbuilders Complain About S. Korean Shipbuilding Aid
European shipbuilders recently complained to the European Union over South Korean state aid to its shipbuilders, opening the way for a possible EU case against Seoul…
SS&Y Indices Push Higher
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 123 points in the week ending Monday to 5,726. "A major resurgence from Japanese interests heated…
Greek Ministry Lifts Ban On 61 Ferries
The Greek Merchant Marine Ministry has lifted a ban on 61 passenger ferries ordered into port for failing to meet safety requirements after the sinking of the Express Samina last month…
ExxonMobil to Integrate Lubricants Businesses in Europe
ExxonMobil Lubricants announced it is integrating the Esso and Mobil lubricants operations in Europe. The European regional office for the ExxonMobil lubricants…
Strike Affects Malta Shipbuilding
Thousands of striking workers demonstrated in Malta's capital on Friday, Reuters reported, against tax increases and major shipyards were hit by the industrial action.
North American Rig Count Up
The number of rigs exploring for oil and natural gas in North America rose by 23 during the week ending October 20, because of a gain of 14 in Canada and helped…
Lawmaker Calls For Suspension Of Jones Act For Tankers
Texas Republican lawmaker Joe Barton, chairman of the House Commerce Energy Subcommittee, said he wants a 90-day suspension of rules that do not allow foreign tankers…
Marinette Marine Sold For $48 Million
Manitowoc Co. Inc. reportedly signed an agreement to buy private shipyard operator Marinette Marine Corp. for about $48 million cash. The deal is expected to add…
Nepline To Sell Tankers For $38M
Malaysian shipping firm Nepline Bhd agreed to sell two crude oil tankers to American Eagle Tankers Inc for $38 million cash. The sales were driven by the recent…
Report: Three Carriers Dominate TransAtlantic Trade
Three new carrier groups now control 58% of the total capacity in the transatlantic container trade, according to World Liner Supply, a new quarterly report from…
AMCV Secures Financing For Delta Queen Coastal Vessels
American Classic Voyages (AMCV) has issued $76.4 million of bonds guaranteed by the Maritime Administration of the U.S. Department of Transportation (MarAd). The…
Keppel Shipyard Is Awarded Jumboization Contract
Keppel Shipyard, a member of the Keppel Hitachi Zosen Group, has secured a $3.9 million jumboization contract from Baggermaatschappij Boskalis bv (Boskalis), an…
