A.P. Moeller Strategizes Purchase of DSL's Assets
The transport unit of Danish oil and shipping group A.P. Moeller, Maersk Logistics, said on Thursday it planned to buy certain activities and assets of global logistics…
Chinese Petroleum Corp. Exercises VLCC Tender
Taiwan's state-owned Chinese Petroleum Corp (CPC) has bought two very large crude carriers (VLCC) of West African crudes via its September tender, a company official said on Thursday.
Aframax Rates Jump 40 Percent From Mexico To Venezuela
The cost of an Aframax tanker to carry crude from Mexico and Venezuela to the U.S. has surged by 40 percent in the last week as cargo owners scrabble over a fast-dwindling fleet…
Cammell Laird Continues To Struggle; Cuts 330 More Jobs
Struggling shipbuilder Cammell Laird Plc is to cut a further 330 U.K. jobs on top of over 600 job cuts set in motion earlier this year after it entered into receivership…
KHZ to Deliver Cableships to TyCom
Keppel Hitachi Zosen Limited (KHZ) will deliver its first cable laying and repair vessel to TyCom by end August 2001. The vessel was named TyCom Reliance by Lady Sponsor…
Panamax Rates Drop To Lowest In Decades
Panamax freight rates touched their lowest levels in years and prospects for a quick recovery in the sector are remote, shipbrokers said on Wednesday. Overall, panamax…
Clean Tanker Rates Drop Another 10 Points
Clean tankers in the intra-Asian trades have suffered an eighth week of stagnant trading, causing rates to slip another 10 points to W240 ($15.69 per ton), Singapore brokers said on Wednesday.
Petrobras Declares Force Majeure On Oil Deliveries in Santos and Rio
Brazil's state oil giant Petrobras said Tuesday it declared force majeure on Monday on oil deliveries to barges in the ports of Santos and Rio de Janeiro. Petrobras…
Norwegian Petro Geo-Services Shares Dip 5.2 Percent
Shares in Norwegian offshore services and seismic firm Petroleum Geo-Services (PGS) slid on Wednesday on concerns that the sector could be hit by a U.S.-led slowdown, analysts said.
World Tanker Fleet Grows Slightly
increased by 1.4 million dwt to 311 million dwt during January to end June 2001. The Suezmax fleet increased by 1.7% whereas the VLCC fleet had a net change of 0.16%.
Oil Prices Are Down … But Are They Out?
U.S. oil prices fell Monday on renewed concerns that the OPEC cartel's recent cut in production would not be enough to counter the impact of a global economic slowdown. U.S.
Evergreen Marine Sales Down 9%
Taiwan's Evergreen Marine s made sales of T$1.55 billion in June, down 9.0 percent from the same month a year earlier. That brought accumulated sales in the first six months of 2001 to T$8.88 billion…
Hyundai Logistics Plans To Own Freighter
Hyundai Logistics Co. Ltd., one of South Korea's top three delivery companies, planned to operate its own freighter in 2007 for use between Korea, China and Japan, Reuters reported.
Alstom Wins French Navy Contract
Alstom SA secured a contract from military shipbuilder Direction des Constructions Navales to help build two military transport vessels for the French armed forces.
Imtech Wins Defense Contract
Internatio-Mueller NV said its technology unit Imtech had won an order worth $35 million from British shipbuilder Swan Hunter. Imtech will provide technical systems…
Australian's Blow Up Whale Of A Problem
Australian police have blown a hole in the rotting body of a whale that had become a troublesome attraction for tourists watching sharks feed on its massive carcass.
Immigrants Try Floating In On Inflatable Mattress
Two Lithuanian illegal immigrants tried to float to Britain on an inflatable mattress but were spotted at sea and taken back to France. The two men were sighted…
ISH Put On Watch After Announcement
Standard & Poor's placed its ratings for International Shipholding Corp. (ISH) on CreditWatch with negative implications. The CreditWatch placement reflects the…
P&O Princess Cruises Assigned Negative Outlook
Fitch, the international rating agency, has affirmed the Senior Unsecured 'BBB+' and Short-term 'F2' ratings of P&O Princess Cruises (POPC), the world's third largest cruise operator.
Malaysian Port To Receive $263M Infusion
A Malaysian port 30 percent owned by Danish shipping giant Maersk Sealand is expected to receive a $263 million government loan for expansion, Reuters reported.
