Petroleos: Oil Output Is Fine
The president of Venezuelan state oil giant Petroleos de Venezuela (PDVSA) insisted he did not see any need for OPEC member countries to raise output to cool sizzling oil prices.
Maritime Stocks Move Up
The Shipping Index at the Oslo Stock Exchange performed well in the quite summer month of July, rising 2.7 percent, and thus again lifting the maritime sector of shipping…
Latest GOM Lease Sale Draws More Bids
Oil and gas companies, enjoying increased cashflow as a result of strong energy prices, submitted a higher number of bids in the latest Western Gulf of Mexico lease sale, the U.S.
Tankers Stop Drifting Runaway Rig
Two tankers were able to stop the drilling rig Roger W. Mowell, leased by Malaysia's Petronas and Vietnam's Oil and Gas Exploration and Exploitation Co., which had…
Kvaerner To Build Cruise Ship For Carnival
Carnival Corporation contracted with Finland's Kvaerner Masa-Yards for the construction of a new 86,000-ton cruise ship for its Carnival Cruise Lines unit. The 2…
Kursk Lifting Unlikely Before Mid-2001
Any operation to lift Russia's sunken Kursk submarine will take months of planning and so is unlikely until summer 2001, Stolt Offshore officials said. Stolt's Norwegian…
Friede Goldman Halter Withdraws Junk Bond Sale
Friede Goldman Halter Inc. has shelved a junk bond sale expected to total $150 million because it wouldn't pay the high yields investors demanded. The company said…
Divers Begin Investigation of Estonia Wreck
Brushing aside complaints from Nordic states that declared it a burial site, U.S.-led divers last week began investigating the wreck of the ferry Estonia, which…
Norwegian Firm To Study Sub Salvage
Stolt Offshore, whose divers opened a sunken Russian submarine after the failure of Russian rescuers agreed to study how to salvage it or recover the bodies of the 118 crew…
Kvaerner Won't Up Aker Bid
Kvaerner, reporting a bigger-than-expected first half profit, said it would not raise a rejected takeover bid for oil and gas services group Aker Maritime. Kvaerner…
Transocean Buys R&B Falcon In $5.3B Stock Deal
Transocean Sedco Forex Inc., already the world's biggest offshore oil-drilling contractor, agreed to buy R&B Falcon Corp. in a $5.3 billion stock deal that will make it the dominant deepwater driller.
Cruise Companies Cited For Excessive Smoke
Seven cruise companies have been cited for pumping excessive amounts of smokestack emissions into the air of Alaska's capital city, state officials said. Observers…
SS&Y Indices Fall
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 54 points and its Atlantic Capesize Index fell 79 points in the week ending Monday to 5,123.
Russian Ship Saves Sinking Ship's Crew
Fire broke out on a Syrian ship in international waters off Cyprus, forcing its crew to evacuate before the vessel sank early on Monday, authorities in Cyprus said.
Sweden Tries To Persuade U.S. Group To Abandon Estonia Dive
Swedish coastguards reportedly planned to board a U.S. ship they suspect is taking divers to examine the wreck of the ferry Estonia, which sank in the Baltic Sea in 1994 with the loss of 852 lives.
Russian Sub Rescue Turns To Recovery
Russia on Monday asked Norway to help recover 118 corpses trapped in the wreck of the Kursk submarine off northern Russia, the Norwegian foreign ministry said. A…
Kvaerner Books Another Cruise Ship Contract
Kvaerner signed a deal with Costa Crociere - the Italian joint venture of Carnival Corp and Airtours , to build a 86,000-grt cruise ship. The vessel will accommodate 2…
Turkish Ferry Sinks Off Black Sea Coast
A ferry sank off the Turkish Black Sea coast Aug. 16 after a fire, officials said, adding that one crew member was missing, but no passengers were on board when the vessel went down.
Maersk-Sealand To Move Hub To Malaysia
Maersk-Sealand, the world's biggest container line, will move its transhipment hub to the Malaysian port Tanjung Pelepas (PTP) from Singapore. Maersk-Sealand, part…
Canada To Study Ban On Pacific Ocean Drilling
An environmental group has criticized a move by British Columbia to study the idea of having Ottawa lift a 28-year-old ban on offshore drilling along Canada's pristine Pacific coast.
