Diamond Offshore Awards $34M In Rig Contract
Keppel FELS Energy & Infrastructure won contracts worth a total of $34 million from subsidiaries of Diamond Offshore Drilling Inc. The contracts awarded to units Keppel FELS Ltd. and Amfels Inc.
SembCorp First Half Down 6%
SembCorp Marine posted a 6.4 percent drop in half-year net profit to S$39.2 million ($21.4 million) from S$41.9 million in the first six months of 2001. The Singapore…
Stolt Offshore Inks $135M Shell Deal
Norwegian offshore contractor Stolt Offshore was awarded a $135 million contract from Shell Petroleum Development Company in Nigeria for pipelay work. The contract…
Panamax Rates Under Pressure
Freight rates in the Atlantic Panamax market remained under pressure and were expected to move even lower in the near term, brokers said on Monday. While Atlantic rates continued to slide…
ITF Targets Liberian Flag
The International Transport Workers Federation (ITF) has launched a campaign to bring down the Liberian shipping flag, which it accuses of bank-rolling a savage conflict in Sierra Leone.
Memco Barge Line Sold
American Electric Power Co. Inc. signed a definitive agreement with Progress Energy Inc. to buy its MEMCO Barge Line Inc. for $270 million, in a deal AEP said would immediately add to its earnings.
Tanker Markets Move Forward, Slowly
Most tanker markets were still inching forward on Monday but the North Sea market was at the end of its rally and was starting to sag again, brokers said. "It's cooled off a little (in the North Sea)…
Over-capacity builds up in transpacific container trade
The addition of substantial new vessel capacity is widening the gap between supply and demand in the transpacific container trade, according to World Liner Supply…
NAVSEA Divers Help Raise History
Naval Sea Systems Command divers, along with National Oceanographic and Atmospheric Administration divers lifted a piece of naval history out of 240 feet of water…
TMN To List Shares
Thai state-owned shipping company Thai Maritime Navigator (TMN) it would list its shares on the Stock Exchange of Thailand in the next three years. TMN chairman of board of directors…
Power Barges Bring New Light To Lagos
Sections of Lagos will receive an unprecedented 22 hours of electricity daily starting next month due to a project by U.S. energy group AES Corp, the head of Nigeria's state power company said.
NSCSA Reports $31M Profit
The National Shipping Company of Saudi Arabia (NSCSA) reported a net profit of 115.7 million riyals ($30.85 million) in the first half of 2001 compared with a net…
Chiles Offshore Signs Contracts With Shell
Chiles Offshore has executed two firm nine-month contract extensions with Shell Exploration & Production Company for the use of the ultra-premium jackup drilling…
Northrop Grumman Gets Advance Money Fo LPD 21, LPD 22
Northrop Grumman Corporation announced that the Avondale Alliance, led by Northrop Grumman Avondale, has been awarded $113.2 million for advance procurement of long…
Sealift Ship To Be Christened Benavidez At Avondale
The seventh and final Strategic Sealift ship in the BOB HOPE Class will be christened BENAVIDEZ in ceremonies at the Northrop Grumman Corporation Avondale shipyard Saturday…
OTAL expands into China
Strengthening its position as a leading player in West African shipping and logistics, OT Africa Line (OTAL) has expanded its agency network in China. United Transportation Limited (UTL)…
GLM Score Up Despite Softening GOM
Global Marine's (GLM) Summary of Current Offshore Rig Economics (SCORE) rose 0.6 percent in June 2001, despite a reduction in the Gulf of Mexico. "Softening jackup…
Barge Tows Delayed Near Hannibal, Mo.
Barge tows traveling on the upper Mississippi River faced lengthy delays on Wednesday near Hannibal, Mo., after traffic was stopped for two days to dredge several spots in the river…
NOL Shares Sag On Continued Rate Woes
Shares of Neptune Orient Lines Ltd (NOL), the world's sixth largest container shipper, sank as much as 2.5 percent on Thursday morning to their lowest level since March 2000 on freight rate concerns.
Keppel Profits Surge 62%
Ship repair specialist Keppel Hitachi Zosen saw its first-half net profit surge 62.3 percent to $6.57 million versus the same period last year. The Singapore-based…
