European Vision Leaves Vacationers Stranded in Genoa
Vacationers who booked a cruise on the luxury liner used by world leaders during last month's G8 summit were disappointed when the ship broke down at the weekend.
Hyundai Heavy Lands $800 Million Order From ExxonMobil
South Korea's Hyundai Heavy Industries said on Monday it has won an $800 million order from Exxon Mobil, to build offshore oil producing facilities in Angola. Hyundai…
Inmarsat Looks To Launch IPO By Year's End
Global mobile satellite communications company Inmarsat said on Monday it expected to launch a public offering of its shares (IPO) by year-end to raise money to pay off debt or to make acquisitions.
Barry Whips Through Florida's Panhandle
The remnants of Tropical Storm Barry doused the Florida Panhandle and Alabama with heavy rains on Monday and threatened to bring floods and tornadoes as it headed inland, forecasters said.
Oversupply, Limited Cargoes Contribute To Weakening Panamax Rates
Panamax rates continued to weaken due to oversupply and limited cargoes on Monday, but owners were hopeful that the market was finding a floor, brokers said. The physical market remained in decline…
GD To Acquire Division of Motorola For $825 Million
Defense contractor General Dynamics Corp. on Monday said it agreed to acquire a division of wireless technology giant Motorola Inc. for $825 million, in a move to…
Barry Misses, But Puts Serious Dent In GOM Production
Tropical Storm Barry veered away from oil and natural gas fields in the Gulf of Mexico on Sunday, but by that point the erratic tempest had already knocked a big dent in U.S.
Star Reefers, NYK Enter Agreement
Norwegian shipping firm Star Reefers has agreed with Japan's NYK to create a new joint pool and marketing company owned 50 percent each. The new company will be called NYK Star Reefers Ltd.
Massive Platform Travels Through Bosphorus
Istanbul's Bosphorus straits were closed to shipping for several hours on Monday to allow a massive pipeline laying platform owned by Saipem to pass through into the Black Sea…
Offshore India Heats Up
U.S.-based Hardy Exploration and Production (India) Inc. has revived a declining oil field off India's southern coast and increased its output by over 2,000 bpd.
GD Extends Offer For NNS
General Dynamics extended its pending tender offer for Newport News Shipbuilding Inc. as it waits for the U.S. government's decision on the proposed merger. General Dynamics…
