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…
Friede Goldman Halter Announces Contract and Options Worth Up to $78 M
Halter Marine, Inc., the vessels segment of Friede Goldman Halter, Inc., has been awarded a contract from the U.S. Army Tank and Automotive Command (TACOM) for the…
Osprey Maritime To Sell LNG Operations For $635 Million
Singapore's Osprey Maritime said on Monday it agreed to sell its liquefied natural gas (LNG) operations to new subsidiary Golar LNG for US$635 million as part of a restructuring exercise.
Minoan Seeks Capital Increase for Fleet Renewal Program
Greek ferry operator Minoan Lines plans a capital increase to partly finance its fleet renewal program but may opt to sell non-core holdings if stock market conditions do not improve…
Another Takeover for Carnival Corp.?
The world's largest travel group Preussag AG on Monday declined to comment on reports that Carnival Corp was considering a bid for its Hapag-Lloyd cruise division.
Singapore-Flagged Tanker Sinks Off Malaysia's West Coast
A Singapore-flagged tanker sank in the Strait of Malacca off Malaysia's west coast after colliding with another tanker on Monday, a maritime official said. Rescuers saved the 12-member crew of the 1…
New Zealand Works To Fix NZ Refining's Clog Up
New supplies of diesel would be in place at all New Zealand marine fueling stations by Friday, replacing stocks of fuel affected by an additive that clogs engine filters, NZ Refining Co.
Faulty Sprinklers Keep Norwegian Cruise Ship in Port
A cruise ship with more than 2,000 passengers aboard was barred from leaving port in Miami for a second day on Monday, pending repairs to fix what the U.S. Coast…
Analysts Predict Hutchison Whampoa Expansion Will Offer Long Term Benefits
Hutchison Whampoa Ltd's deal to expand its container port network to six new countries will not bring big near term gains in revenue and net asset value, but analysts…
Trade Officials To Discuss Korean Shipbuilding Disputes
European Union and South Korean trade officials will meet next week in Seoul to resolve a dispute over alleged shipbuilding subsidies by Korean yards. "Working-level…
Turkey To Ship Water To Israel
Turkey and Israel were unable to finalize a deal on Thursday to export 50 million cubic meters of Turkish water a year to Israel because the transport costs have yet to be decided…
Port Congestion Chokes Nigeria's Economy
Worsening congestion at Nigeria's major ports is crippling the economy of the West African sub-region. Manufacturers say essential cargoes are stranded at the ports…
MISC Expects Good Profits
Malaysian International Shipping Corp. (MISC), the world's largest liquefied natural gas (LNG) carrier, said it expects profits in fiscal 2002 to be higher than 2001.
Tender Issued For Zim Israel Navigaton
Israel's Government Companies Authority issued a tender for the state's 48.6 percent stake in container shipping company Zim Israel Navigation Co. The government…
NOL To Split, List American Eagle Tankers
Neptune Orient Lines, the world's sixth largest container shipper, plans to spin off and list its oil-transportation unit, American Eagles Tankers (AET), on the New York Stock Exchange.
