A.P. Moeller Shares Bounce Back
Danish A.P. Moeller shares rebounded on Friday after news of its purchase of Dutch tug and salvage company Wijsmuller Group Holding on Thursday, brokers said. The two A P Moeller stocks…
Bergesen Agrees to Sell Four Tankers To Frontline Consortium
Norwegian shipping group Bergesen said on Friday it had made an preliminary agreement to sell four tankers to a consortium led by tanker operator Frontline. Bergesen said in a statement the deal…
Northrop Grumman Completes Merger with Litton Industries Inc.
Northrop Grumman Corporation announced today that it has completed the acquisition of all shares of Litton Industries Inc. common stock not previously purchased…
A.P. Moeller's Salvage Unit Acquires Dutch Wijsmuller Group
Danish oil and shipping group A.P. Moeller's Svitzer tug and salvage unit said on Thursday it bought privately-owned Dutch Wijsmuller Group Holding for an undisclosed sum.
Dockers Union Orders Strike After Violence Erupts at Nigerian Port
A Nigerian dockers' union said on Thursday it had ordered a strike at Lagos' Apapa port after three men died, bringing the port to a standstill when it is struggling…
Rolls-Royce Order Book Logs in at $21.3 Billion
British aircraft engine maker Rolls-Royce Plc said on Thursday its order book had risen to a record 15 billion pounds ($21.3 billion) as the group added to its share…
Exmar, Golar Mull Possible LNG Merger
Exmar, the tanker division of Belgian shipping company CMB is reportedly in talks with Norway's Golar LNG to merge their liquified natural gas activities. It was…
A.P. Moller Looks To Resume North Sea Oil Production
Danish oil and shipping conglomerate A.P. Moeller hopes to resume some of its 120,000 bpd North Sea oil production, which was halted 11 days ago due to a gas explosion…
Strategic Challenges LevelSeas for Top Spot In E-Brokering Arena
A new and formidable player emerged in shipping's e-broking sector this week to challenge the previously undisputed market leader LevelSeas, which is still more…
Acquisition Expands Rolls-Royce's Marine Capability
Rolls-Royce plc, has further expanded its capabilities with the acquisition of German company INTERING GmbH for an undisclosed sum. Rolls-Royce is now the only company able to offer tank stabilizers…
Manpower Software Lands Myriad of Cruise Contracts
Manpower Software plc (MSW) today announces the award of two contracts for the sale of its Maritime Crew Administration product to Royal Caribbean Cruises Limited (RCCL) and Sun Cruises Limited (SCL)…
North Sea Tanker Markets are Lowest in One Year
North Sea tanker markets have tumbled further in the last few days to levels not seen in over a year, brokers said on Wednesday. "The Aframaxes (80,000 tons) are definitely in trouble…
Transatlantic Panamax Rates Hit Six-Week Lows
Panamaxes for transatlantic round voyages fell to six-week lows on Wednesday as trade was limited by a series of European holidays in the month of May, brokers said.
Flag of Convenience Embraces UAE's Decision To Crack Down on Corruption
A leading maritime Flag of Convenience (FOC) has welcomed the United Arab Emirates' (UAE) decision to clamp down on the industry and has called for more regular…
GD Takeover of NNS Could Curb Competition Within U.S. Warship Construction
General Dynamics Corp.'s contested $2.1 billion plan to take over Newport News Shipbuilding Inc. could stifle competition in U.S. warship building, a congressional analysis released Tuesday showed.
Kvaerner Lands $67.7 Million Containership Contract
Anglo-Norwegian engineering group Kvaerner said on Wednesday it had won a contract valued at 627 million crowns ($67.7 million) from Hamburg-based Oskar Wehr GmbH to build two containerships.
Oceaneering and DNV Form Joint Venture
Oceaneering International, Inc. announced that its Norwegian subsidiary, Oceaneering AS, has entered into a joint venture agreement with Det Norske Veritas (DNV)…
Rigs Back on After New Unexplained Brazil Oil Spill
Petrobras put 12 offshore oil rigs back into operation on May 26 following a stoppage on two days earlier that was due to a second unexplained oil spill in a week, officials said.
Update: Norwegian Line Unable to Remedy Leaky Sprinklers on the Norway
Norwegian Cruise Line canceled the weekly sailing of its ship Norway on Tuesday because of leaks in the fire sprinkler system, thwarting Caribbean vacation plans for more than 2…
Analysts Speculate Possible Carnival / Hapag-Lloyd Deal
Carnival Corp said on Tuesday its growing cash holdings were spurring market speculation that the world's largest cruise group was on the acquisitions trail. A spokesman…
