Salvors Race To Empty Castor
As of February 7, Salvors were still racing against the weather to pump the remaining gasoline from the damaged tanker Castor before excessive swells make the operation too dangerous.
Taiwan Government Under Fire For Spill Response
Taiwan's government has come under fire from the largest opposition party for stalling on the clean-up of an oil spill threatening the island's southern coast. A Greek cargo ship…
Osprey Maritime Sells 10 Ships
Osprey Maritime Ltd. agreed to sell 10 product tankers to Greek shipping company Stelmar Shipping Ltd. for $216 million. Osprey said that this is in line with its…
Atlantic Tanker Rates Drop
Atlantic clean tanker trades have been hit by refinery maintenance schedules in the Caribbean, while bouyant Asian trades will be boosted further by earthquake disruption at Indian refineries…
Port of Vancouver Tonnage Up 7%
The Port of Vancouver handled 76.5 million tons of cargo last year, up 7 percent to the highest level ever at what was already Canada's busiest ocean port. Vancouver…
OPEC Leader Calls For Price Stability
Venezuelan President Hugo Chavez, who has emerged as a leading OPEC oil price hawk, said he did not want world oil prices to fall from last year's level, when they averaged their highest in 17 years.
Crowley Completes Tender Offer For MTC
Crowley Maritime Corporation completed its tender offer and has accepted 6,099,774 shares of Marine Transport Corporation common stock. The shares tendered represent…
LMS Supplies Electronics Package For Chem Tanker
Litton Marine Systems (LMS) has supplied bridge electronics and communications systems for a new chemical tanker under construction for Stolt Tankers at the Ujanic Shipyard in Croatia.
Oil Demand Expected To Rise
According to the latest oil market report from IEA, world oil demand is still projected to increase by 1.66 mbd this year, despite a downward revision reflecting economic slowdown.
Stelmar Shipping To Sell Shares In U.S.
Greek shipping company Stelmar Shipping Ltd. has filed with the U.S. Securities and Exchange Commission to sell 7 million common shares at $12 to $14 per share.
Howard Smith Posts Flat Results
Hardware and towage group Howard Smith Ltd. pointed to a difficult market for its main hardware and industrial supplies businesses on Tuesday, after posting a flat half year result.
Panamax Rates Likely To Ease
Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market.
Japanese Steelmakers Eye Consolidation
Japan's second-largest steelmaker, NKK Corp agreed with two other Japanese firms to consider future integration of their steel plant operations in a bid to combat severe competition.
Frontline To Spend $330M On New Tankers
Norway's Frontline ordered five tankers from Japanese yards for $330 million. "Two Suezmaxes have been ordered with the Sasebo Shipyard in Japan for delivery in August and October 2001…
Chinese Ship Sales Legally To Taiwan
More than half a century of family division ended in hugs and tears of joy on Tuesday after the first mainland Chinese ship to sail legally to Taiwan since 1949…
Suez Canal Receipts Up
Suez Canal receipts rose to $168.1 million in December from $160.5 million in November and from $160.3 million in December 1999, the Cabinet Information and Decision Support Center (IDSC) said.
Keppel Hitachi Zosen Wins Contracts
Keppel Hitachi Zosen Ltd. clinched contracts worth S$60 million. Keppel Hitachi will undertake the construction of a multi-purpose supply vessel for France-based SURF…
RCL Shares Jump In Oslo Following Report
Shares in Royal Caribbean Cruises leapt seven percent after positive broker analyses of the group and on hopes for positive news when corporate leaders visit Oslo on Wednesday, traders said.
Maersk Sealand Projects Container Rate Rise
Maersk Sealand, part of Danish A.P. Moeller shipping and oil group, expects container rates to rise on the world`s main routes despite an economic slowdown in the U.S.
N. Sea Production Cut By Freeze
Freezing weather in the North Sea has forced the shut-in of close to 600,000 bpd of Norwegian oil production and is hemming in another 470,000 bpd of UK output, operators said.
