Kashagan Operator Pick To Come Soon
Kazakhstan's first deputy prime minister expects OKIOC, a consortium exploring the giant offshore Kashagan oil deposit, to appoint a project operator within two weeks.
Cammell Laird Shares Fall On News
Shares in Cammell Laird fell nearly nine percent on Thursday after news the British shipbuilder's $500 million contract with U.S. firm Luxus was at risk, threatening…
Kirby Enters Tank Barge Deal With Dow
Kirby Corp. entered into a long-term lease with a subsidiary of The Dow Chemical Co. for 94 inland tank barges. The lease agreement is expected to be marginally additive to Kirby's earnings…
Cammell Laird $500M Contract In Jeopardy
Cammell Laird's $500 million contract with U.S. firm Luxus could fail unless loan guarantees are received from the British government by the end of February. "It's urgent.
EIA Expects OPEC Output To Rise
The U.S. Energy Information Administration expects OPEC countries to continue producing above their quotas, pushing the cartel's average output 770,000 barrels per…
Royal Caribbean Predicts Bright 2001
Royal Caribbean Cruises predicted on cruise booking levels for 2001 would match or beat last year's figures. "We think we will do as well as we did last year, and may even do better…
Fred Olsen Buys H&W Real Estate Interests
Norway's Fred Olsen Energy is buying the real estate interests of its Belfast, Northern Ireland shipyard Harland and Wolff for $67.2 million to boost the yard. "This…
ICCL Member Lines Set New Mandatory Safety Standards
The International Council of Cruise Lines (ICCL) has reported that its member lines have unanimously agreed to set mandatory policies for cruise ship passenger and crew safety…
Lloyd Triestino To Offer Transpacific Fast Shuttles
Italy's Lloyd Triestino (LT) will offer its customers on the transpacific much faster transit times following the re-scheduling of the weekly HTW and TPN services.
S. Korean Shipyards Seek To Boost Profitability
After raking in almost 40 percent of global orders in 2000, South Korean shipyards plan to focus on boosting profit margins this year by being more selective in picking up orders…
Salvors Race To Empty Castor
As of February 7, Salvors were still racing against the weather to pump the remaining gasoline from the damaged tanker Castor before excessive swells make the operation too dangerous.
Taiwan Government Under Fire For Spill Response
Taiwan's government has come under fire from the largest opposition party for stalling on the clean-up of an oil spill threatening the island's southern coast. A Greek cargo ship…
Osprey Maritime Sells 10 Ships
Osprey Maritime Ltd. agreed to sell 10 product tankers to Greek shipping company Stelmar Shipping Ltd. for $216 million. Osprey said that this is in line with its…
Atlantic Tanker Rates Drop
Atlantic clean tanker trades have been hit by refinery maintenance schedules in the Caribbean, while bouyant Asian trades will be boosted further by earthquake disruption at Indian refineries…
Port of Vancouver Tonnage Up 7%
The Port of Vancouver handled 76.5 million tons of cargo last year, up 7 percent to the highest level ever at what was already Canada's busiest ocean port. Vancouver…
OPEC Leader Calls For Price Stability
Venezuelan President Hugo Chavez, who has emerged as a leading OPEC oil price hawk, said he did not want world oil prices to fall from last year's level, when they averaged their highest in 17 years.
Crowley Completes Tender Offer For MTC
Crowley Maritime Corporation completed its tender offer and has accepted 6,099,774 shares of Marine Transport Corporation common stock. The shares tendered represent…
LMS Supplies Electronics Package For Chem Tanker
Litton Marine Systems (LMS) has supplied bridge electronics and communications systems for a new chemical tanker under construction for Stolt Tankers at the Ujanic Shipyard in Croatia.
Oil Demand Expected To Rise
According to the latest oil market report from IEA, world oil demand is still projected to increase by 1.66 mbd this year, despite a downward revision reflecting economic slowdown.
Stelmar Shipping To Sell Shares In U.S.
Greek shipping company Stelmar Shipping Ltd. has filed with the U.S. Securities and Exchange Commission to sell 7 million common shares at $12 to $14 per share.
