North Sea Tanker Market Falls to Year's Lowest Point
North Sea tanker markets tumbled to a one-year low by the middle of this week and have since fallen further still, brokers said. "There was virtually no Aframax (80…
2001 Hurricane Season Begins Quietly
The 2001 Atlantic hurricane season dawned quietly on June 1, but storm experts warned people in hurricane alley early-season peace was no reason to let down your guard.
Rig Utilization Up in Europe, Down Worldwide
Offshore rig utilization rose in Europe but declined worldwide and in the U.S. Gulf of Mexico during the week ending June 1, according to ODS-Petrodata Group. European…
BHI U.S. Rig Count Up by Eight
The number of rigs searching for oil and natural gas in the United States rose by eight to 1,270 during the week ending June 1, according to oil services firm Baker Hughes.
Mississippi River Delays Begin to Ease
Delays at locks along the Mississippi River were easing on June 1 as a glut of northbound barges that congested locks after the river reopened last week made their way upriver, river officials said.
Navy Puts $30 Billion DD 21 Design Contract on Hold
The Navy put off indefinitely Thursday the choice of a winning design in an all-new $30 billion advanced destroyer program pending developments in sweeping Defense Department reviews.
China Shipping Signs Seven Vessel Lease for $11.5 Million
China Shipping Development Co Ltd said on Friday that it would lease seven vessels for one-year for a total of US$11.57 million. China Shipping would lease a chartered…
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.
