Oil Instability, Consolidation Muddy Offshore E&P Picture
The cyclical nature of the oil business has blossomed into full bloom during the latter part of 2000, as a host of political power plays have sent oil prices on a virtual rollercoaster…
World Single Hull Tanker Phase-Out Is Coming
More than a decade after the U.S. enacted OPA '90, much to the consternation of the vessel design and owning community, the International Maritime Organization (IMO)…
The Future of E-Commerce: Will The Maritime Industry Be Left Behind?
Maritime business commerce has changed rapidly over the last decade. In order to stay competitive, companies are increasingly inventing more efficient ways to conduct business.
Cornering the ULCC Niche
For an independent tanker owner to undertake a newbuild fleet development program amounting to 3-million tons of crude oil carrier capacity in itself demonstrates a high degree of business verve.
Editor's Note
Uncontrollable external forces driving commercial development is the hallmark of any industry. However, the last three years serve as a prime example of how such…
Derbyshire Ruling: Crew Not To Blame
A top judge ruled on Wednesday that the crew of the largest British ship ever to be lost at sea was not to blame for the vessel's sinking. All 44 people on board died when the 169…
Proposed Ruling Calls For Fixed Fire Safety
The U.S. Coast Guard's supplemental notice of proposed rulemaking (SNPRM) on "Fire Suppression Systems and Voyage Planning for Towing Vessels" appears in today's Federal Register.
Cargill Dumps Shipping Arm
Cargill has announced a change in shipping strategy, following the sale of its last four remaining Panamax bulk-carriers, and from here on will charter in ships for all its cargo requirements.
Evergreen To Buy Five Ships From MHI
Shipping giant Evergreen Marine signed a letter of intent to buy five large cargo ships from Japan's Mitsubishi Heavy Industry. A spokeswoman for the Taiwan shipping…
MISC To Raise $600M To Buy Ships
Malaysia International Shipping Corp (MISC) will raise about $600 million in global bonds by mid-2001 to partly fund the purchase of four ships worth some $1 billion.
Danube Shippers Catch A Break
Put in financial peril because of NATO bombing against Serbia which literally blocked its source of business, Danube shippers and port operators received good news…
Frontline To Seek NYSE Listing
Norwegian tanker group Frontline said on Tuesday strong charter rates boosted nine-month pre-tax profits to a record and that it was considering seeking a listing on the New York Stock Exchange.
Tanker Repair Completed
A tanker carrying 500,000 barrels of gasoline, the Bear G, is expected to start a journey back to the New York Harbor November 10 after completing repairs to a leaky hold in a Canadian port…
Remote Minehunting System Passes Critical Test
Lockheed Martin Integrated Systems announced the successful completion of the first Critical Item Test (CIT) required for development and fielding of the AN/WLD-1(V)1 Remote Minehunting System.
Tanker Sinking Could Expedite New Ship Rules
As the International Maritime Organization grapples with the issue of the phasing in of safer tanker tonnage around the world, local political pressure in France…
Gas Tanker Repair Could Take Two Days
Repair work on a tanker carrying 500,000 barrels of gasoline which was last week denied entry into New York Harbor due to an internal leak, could take two days,…
Bulker Repaired
Repairs were completed on November 5 to the Canadian-flag bulker Algowood, damaged when it sank on June 2 at Bruce Mines, Ontario, Reuters reported. The 31,940 dwt…
BrightStar Gets $850M Navy Contract
Application service provider BrightStar Information Technology Group Inc on Monday said it was selected by Science & Engineering Associates Inc (SEA) as a subcontractor…
Litton To Sell Electronics Unit
Litton Industries Inc. plans to sell its defense electronics unit and focus on its shipbuilding, information security and telecommunications businesses. The Advanced Electronics unit…
Carnival Corp. Finalizes Contract For Cunard Line's Queen Mary 2
Carnival Corp. announced it has finalized a contract with France's Alstom Chantiers de l'Atlantique shipyard for the construction of the Queen Mary 2, a new 150…
