Samsung Lands $330 Million in Orders
South Korea's Samsung Heavy Industries Co. said on Saturday it won $330 million in orders to build a liquefied natural gas (LNG) carrier for BP Amoco Plc and two…
Pegasus Tanker Fleet Is Back In The Game
A crucial Caribbean tanker fleet re-entered the market this week, having been held back for over a month because of a dispute between its owner, Pegasus Shipping, and junk-bond creditors in New York.
VLCC Rates Sag On Asia Route
A huge oversupply of VLCCs for trades from the Mideast Gulf to Asia has led to the most serious market decline in over two years, pushing rates to 13-month lows, brokers said.
Three News Suspects Arrested In Cole Case
Police in Yemen have arrested three new suspects in the bombing of the American warship USS Cole in which 17 U.S. sailors were killed last year, a Yemeni government weekly said.
Single Hull Tanker Deadline Almost Agreed
Shipping legislators are close to agreeing a deadline for eliminating single-hulled tankers, a pollution hazard to the world's oceans and coastlines. "The deadline is 2015…
Hijacked Ship Docks Safely
A Panamanian ship docked safely at Calcutta on Friday, a day after it was hijacked near the port by an armed group, officials said. The ship, named Jubilee, with 23 people aboard…
First Wärtsilä Marine DF Engines Ordered
Wärtsilä Corporation has received the first order for Wärtsilä 32DF marine engines. PGS Production in Norway has contracted for two Wärtsilä 18V32DF engines to be installed in the FPSO (floating…
Brazillian Yard Preps To Ride Offshore Wave
As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard…
Princess Cruises Profits Plummet 64%
P&O Princess Cruises reported a widely expected slump in first-quarter profits, with earnings partly dented by lower cruise prices. Pre-tax profits for the three…
Vopak To Sell Bitumen Fleet
Dutch-based chemical distribution and storage company Vopak NV said it signed a memorandum of understanding to sell its bitumen fleet to Swedish Tarbit Shipping AB.
Moody's To Review GD Debt Rating
Moody's Investors Serviced placed the debt ratings of General Dynamics Corporation (GD) under review for possible downgrade and the debt ratings of Newport News Shipbuilding Inc.
Pentagon Expected To OK NNS Deal
The Pentagon is widely expected to clear the proposed $2.1 billion merger between the two remaining U.S. builders of nuclear submarines and aircraft carriers, eliminating…
OOIL Orders Two Containerships For $160M
Orient Overseas (International), the shipping giant controlled by Hong Kong Chief Executive Tung Chee-hwa's family, said two of its subsidiaries have entered into…
Taiwan To Get Submarines, Ships
The U.S. decision to help Taiwan buy eight diesel submarines will be a boon to the island's navy, enabling it to break any naval blockade imposed by its communist rival China.
Indian Bulk Carrier Refloated
An Indian-registered vessel that ran aground west of Melbourne in stormy weather last weekend was refloated on Wednesday, Australian maritime officials said. The 50…
EU To Propose Subsidy Program To Battle South Korea
The European Union is proposing to subsidize its embattled shipyards in a long-standing dispute over what it views as unfair competition from South Korea. The EU…
HTS Propulsion Thrusters Project Gets $3.1M Boost
U.S. Navy's Office of Naval Research (ONR) to continue the design and development of high temperature superconducting (HTS) motors and related subsystems for electric ship propulsion.
BV Proposes 12,500 TEU Mega Containership
Bureau Veritas expects demand for container slots to double over the next decade, making current post-panamax containerships too small. revolutionary 12,500 teu…
Navy Honors Propeller Expert
Senior naval officers and government officials will recognize the career of Dr. William B. Morgan in a 10:00 a.m. naming ceremony April 27 at the U.S. Navy's Large Cavitation Channel (LCC).
Leif Hoegh Enjoys Healthy 2001
Norwegian shipping group Leif Hoegh forecast higher operating profit in 2001, helped by a larger RoRo vehicle transport fleet, after a smaller-than-expected 59 percent jump in the first quarter.