North Sea Tanker Market Falls to Year's Lowest Point
North Sea tanker markets tumbled to a one-year low by the middle of this week and have since fallen further still, brokers said. "There was virtually no Aframax (80…
2001 Hurricane Season Begins Quietly
The 2001 Atlantic hurricane season dawned quietly on June 1, but storm experts warned people in hurricane alley early-season peace was no reason to let down your guard.
Rig Utilization Up in Europe, Down Worldwide
Offshore rig utilization rose in Europe but declined worldwide and in the U.S. Gulf of Mexico during the week ending June 1, according to ODS-Petrodata Group. European…
BHI U.S. Rig Count Up by Eight
The number of rigs searching for oil and natural gas in the United States rose by eight to 1,270 during the week ending June 1, according to oil services firm Baker Hughes.
Mississippi River Delays Begin to Ease
Delays at locks along the Mississippi River were easing on June 1 as a glut of northbound barges that congested locks after the river reopened last week made their way upriver, river officials said.
Navy Puts $30 Billion DD 21 Design Contract on Hold
The Navy put off indefinitely Thursday the choice of a winning design in an all-new $30 billion advanced destroyer program pending developments in sweeping Defense Department reviews.
China Shipping Signs Seven Vessel Lease for $11.5 Million
China Shipping Development Co Ltd said on Friday that it would lease seven vessels for one-year for a total of US$11.57 million. China Shipping would lease a chartered…
A.P. Moeller Shares Bounce Back
Danish A.P. Moeller shares rebounded on Friday after news of its purchase of Dutch tug and salvage company Wijsmuller Group Holding on Thursday, brokers said. The two A P Moeller stocks…
Bergesen Agrees to Sell Four Tankers To Frontline Consortium
Norwegian shipping group Bergesen said on Friday it had made an preliminary agreement to sell four tankers to a consortium led by tanker operator Frontline. Bergesen said in a statement the deal…
