Damaged Bulker Unloads
The damaged Malta-flag bulker Olympus has been towed to an anchorage near Porto Alegre off Brazil where a salvage firm will discharge cargo and bunkers starting on Friday, Reuters reported.
U.S., International Rig Counts are on the Rise
Baker Hughes Incorporated announced today that the international rig count for May 2001 was 752, up 10 from the 742 counted in April 2001 and up 125 from the 627 counted in May 2000.
Torch Offshore's IPO Checks in at $16
Torch Offshore Inc., an undersea construction firm, priced its initial public offering at $16, the top end of its expected price range, underwriter UBS Warburg said on Thursday.
High Traffic Forces USCG to Shut Section of Missouri River
The U.S. Coast Guard said on Thursday it was closing a 147 mile-long section of the Missouri River to marine traffic due to high water levels after recent heavy rains.
See You in September - Royal Olympic Cancels Newest Vessel's Summertime Cruises
Due to the delay in delivery of Olympic Explorer from Blohm + Voss shipyard in Hamburg, Royal Olympic Cruise Lines has been forced to cancel the cruises of its new vessel until September 15, 2001.
A.P. Moeller Dips On News
A.P. Moeller fell around four percent on Thursday as news of a production halt and talk of higher tax continued to scare away investors, brokers said. Furthermore…
EC Grants P&O, Stena Exemption
The European Commission granted P&O and Stena Line a six-year exemption from competition rules to operate a cross-Channel ferry service for passengers and freight.
Three Sought For Arrest In Tanker Explosion
Romania issued arrest warrants for three men facing charges in connection with the deaths of 10 welders in a Black Sea port oil tanker explosion. They are accused…
Alaskan Cruise Legislature Coming
Alaska is casting a cool eye toward cruise ships, with the state's legislature preparing to pass the first state law regulating the $12 billion industry. In a special session which begins Thursday…
Smuggler Ships To Be Sunk
They were linchpins in the international narcotics trade and soon they will swim with the fishes. Three cargo ships used to smuggle nearly $8 million worth of cocaine…
AIOC Awaits Go-Ahead on Caspian Oil Project
The BP-led Azerbaijan International Operating Company (AIOC) said on Wednesday it expected the Azeri government to give a green light in August for the next phase…
Cammell Laird Slashes 93 More Jobs
Struggling shipbuilder Cammell Laird Plc is to cut a further 93 jobs in Britain on the back of over 500 redundancies announced earlier in the year after the group entered into receivership.
American Eagle Tankers Files for IPO
Crude oil tanker owner and operator American Eagle Tankers Inc. Ltd. has filed for an initial public offering that could raise up to $132 million for the unit of Singapore's Neptune Orient Lines Ltd.
Eimskip Braces for Negative First-Half Returns
Iceland's largest shipping company Eimskip warned on Wednesday that rising costs and ballooning foreign exchange losses would have a "very negative effect" on its first-half results.
Newport News Backs $2.1 Billion Takeover From General Dynamics
Newport News Shipbuilding Inc. said Wednesday its board voted to back the $2.1 billion takeover offer from defense contractor General Dynamics Corp. over a rival bid from Northrop Grumman Corp.
Chilean Navy Reassesses Damage From Oil Tanker Spill
An oil tanker that ran aground in a remote southern Chilean fjord in late May spilled 92,600 gallons (350,528 liters) of crude, leaving an oil slick 70 miles (112…
Celebrity's Mechanical Problems Continue
Celebrity Cruises is canceling two cruises on Infinity to replace a ball-bearing unit in the ship's starboard propulsion system. The ship must enter drydock to replace the bearing…
Industrial Espionage Suspected At Wärtsilä
Wärtsilä's unit in Vaasa, Finland, has been hit by a case of serious industrial espionage, a regional paper Pohjalainen reported. "The police are investigating the case…
Frontline To Partake In VLCC Consortium
Frontline Ltd.'s board has finally approved to participate with a 33% interest in a consortium, which will be established to buy 4 VLCCs from Bergesen for a total price of $321 million.
Bulker Under Tow Off Brazil
Arrangements are being made to take the Maltese-flagged bulker Olympus, now off Brazil, under tow, Reuters reported. The 34,995 dwt bulker was involved in a collision…
