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…
Celebrity Cruises Snags LR ISO 9002 Certification
Celebrity Cruises has recently been presented with ISO 9002 certification from Lloyd's Register Quality Assurance, becoming the first cruise line to attain this…
Northrop Grumman Extends NNS Offer
Northrop Grumman Corporation has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug.
Bulk Carrier Stops To Dump Cocaine
The Capesize bulk carrier Anangel Destiny called into Saldanha Bay, Cape Town on Thursday to hand police 155 kg of cocaine that crew had discovered during routine maintenance on a voyage from Brazil.
LNG Plant Bids Accepted
An international consortium developing two oilfields off Russia's Sakhalin island invited three international groups to bid for a tender to build the world's largest liquefied natural gas plant.
USN Confident Of Raising Sunken Fishing Vessel
The U.S. Navy is confident that it will successfully raise the Japanese fishing vessel sunk off Hawaii in February by one of its nuclear submarines, and was hopeful…
Chinese LNG Project Progressing
A Chinese consortium led by China Offshore Oil Corp. (CNOOC) and oil major BP aim to complete a feasibility study for China's first liquefied natural gas (LNG) project by next June.
House Approves Bush's Alaskan Oil Drilling Plan
The Bush administration's plan to open an Alaskan wildlife refuge to oil drilling was approved by the House of Representatives early on Thursday, but it faces a tougher fight in the Senate…
U.S. Gulf Coast Braces For Tropical Storm Barry
Tropical Storm Barry, the second of the 2001 Atlantic hurricane season, formed in the eastern Gulf of Mexico on Thursday, the U.S. National Hurricane Center said.
Pacific Panamax Market Gets Ugly
The Pacific panamax sector was set to weaken further after the Baltic Panamax Index fell under 1,000 due to a lack of orders, brokers said on Thursday. "There are no orders.
Attacks on Tanker Drivers Force Loadings Suspension at Nigerian Refinery
Loadings at Nigeria's largest oil refinery have been suspended following attacks by local youths on oil tanker drivers, which left 10 tankers ablaze. A Nigerian…
