Oil Majors Report High Profits
Driven by the sustained high price per barrel of oil, oil majors Chevron and Amerada Hess today announced outstanding financial results for the second quarter. Chevron, the No. 2 U.S.
OceanConnect.com
OceanConnect.com, the global e-commerce marketplace for the purchase and sale of marine fuels and products, began operations on July 25 as the first step in a 90-day launch period.
Erika Pumping Progresses
Pumping began on Sunday to remove an estimated 6,000 tons of fuel from the stern of a sunken tanker Erika. The same volume of fuel was pumped from the front half…
13 Lives Lost With Trawler
A Portuguese trawler has sunk off the coast of Mauritania with the loss of 13 lives, officials reported. Another 13 people are believed to have survived the wreck of the Orcados…
SS&Y Capesize Indices Both Rise
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 76 points in the week ending Monday to 5,060. "The index rose back above the psychological 5…
Gas Prices, Offshore Shares Fall In Tandem
Gasoline prices on the benchmark New York Mercantile Exchange (NYMEX) Monday dipped below 90 cents a gallon for the first time in nearly three months, signaling the end of this summer's red-hot run.
Offshore Rig Count At 2-Year High
The offshore rig count in the U.S. Gulf of Mexico rose by four this week to 175, or an 85.9 percent utilization rate, the highest drilling activity in nearly two years…
TMM Appoints Hesco As Japan Agent
Shipping company TMM Lines appointed Hesco Agencies Ltd. as its new shipping agent in Japan in a move to strengthen operations with the Asian region. As of August 10…
Derecktor Awarded High Speed Ferry Contract
Derecktor Shipyards has been granted a contract by Lighthouse Landings to construct a 115 ft. (35 m) aluminum high-speed catamaran ferry to be built at the yard's Mamaroneck, N.Y. facility.
Derecktor Awarded High Speed Ferry Contract
Derecktor Shipyards has been granted a contract by Lighthouse Landings to construct a 115 ft. (35 m) aluminum high-speed catamaran ferry to be built at the yard's Mamaroneck, N.Y. facility.
IMO OKs Ship Reporting System For English Channel
A new ship reporting system to help prevent collisions is being planned for the English Channel in the wake of the Erika tanker spill earlier this year, the International…
PricewaterhouseCoopers To Advise BC Ferries
British Columbia Ferry Corp. (BC Ferries) has elected PricewaterhouseCoopers as its exclusive advisor and manager for the sale of the PacifiCat fast ferries. A Crown…
Two Shipbuilding Initiatives Receive Funding
The Office of Naval Research announced today the selection of two Shipbuilding Initiative projects to receive a combined total of $1 million of Navy funding. Industry…
PricewaterhouseCoopers To Advise BC Ferries
British Columbia Ferry Corp. (BC Ferries) has elected PricewaterhouseCoopers as its exclusive advisor and manager for the sale of the PacifiCat fast ferries. A Crown…
Mideast Tanker Markets Continue Push Upward
Middle East tanker markets are revving up while North Sea rates have gone into overdrive, brokers said last week. Mideast VLCC freight rates climbed as Saudi August…
Saudi Arabia To Boost Production 500K bpd
Saudi Arabia is poised to unilaterally boost its oil output by 500,000 barrels per day (bpd) by the end of August, industry sources said. The kingdom, the world's biggest oil producer…
Petronas Finds Oil Offshore
Malaysia's state-oil firm Petronas has discovered oil in the Samarang-Asam Paya production sharing contract (PSC) area offshore eastern Sabah state. Tests carried…
Kvaerner Chief To Aker: Thanks, But No Thanks
Kvaerner's Chief Executive Kjell Almskog rejected any merger of Kvaerner Oil & Gas with offshore supply firm Aker Maritime. "That has not been and is not an issue on the agenda…
Spain Consolidation Creates Massive Shipbuilder
Spain's state holding company Sepi said it had created the world's 10th largest shipbuilder with annual sales of around $1.25 billion. The group, which formally begins in October…
FastShip And Schneider Partner Up
FastShip has come to an agreement for international transportation and logistics provider Schneider International to provide three major services to support the FastShip transportation network.
