API: U.S. Oil Stocks Are Down
U.S. oil supply worries found fresh impetus on Tuesday after the American Petroleum Institute said that both crude oil and product stocks had fallen again -- hard…
COSCO Intl. Holdings Gets Acquisitive
COSCO International Holdings Ltd is engaged in talks to acquire COSCO Network Ltd., a global transportation, logistics and communications network, from its parent…
Cammell Laird To Invest $10M In Varna Yard
Britain's Cammell Laird plans to invest between five and $10 million as part of a bail-out package for Bulgaria's indebted Varna Shipyard. "Investments are aimed at upgrading production capacity.
Rebels Prohibit Tanker From Loading In Bogata
Occidental Petroleum Corp. said it was unable to load an oil tanker waiting at Colombia's main lifting terminal at Covenas because of back-to-back rebel bomb attacks…
Bulker Under Tow
The Panamanian-flagged bulker Flame was taken in tow by a salvage tug on August 8, after suffering main engine failure in the mid-Atlantic on August 4. The 29,212…
Ehrnrooth To Retire
In announcing its first half results, Metra's - parent company of Wärtsilä NSD - President and CEO, Mr Georg Ehrnrooth, announced that he will retire from this position during this year.
Wärtsilä NSD Is Back On Track, Engine Orders Up 41%
Metra's - parent company of Wärtsilä NSD - reported that its 2Q net sales were $663.6 million, comparable growth 19%. comparable growth was $19.5 million. A driving force has been Wärtsilä NSD…
Tradiant Partners With Vitria
Tradiant, the online advantage for global transportation, announced a strategic partnership with Vitria Technology, Inc., a leading e-business platform provider…
Janet Reno To Christen USCG Cutter
Marinette Marine Corp. is scheduled launch the U.S. Coast Guard Cutter SPAR (WLB-206) on Saturday, August 12, 2000. The SPAR is the sixth ship in a series of sixteen Seagoing Buoy Tenders…
EIA Lowers OPEC Output Estimates
The U.S. Energy Information Administration (EIA) has lowered its forecast for OPEC oil production, excluding Iraq, in the current quarter by 100,000 barrels per day (bpd) to 26.1 million bpd.
Keppel FELS Awarded $60 Million Conversion Contract
Keppel FELS Limited (KFELS), the offshore division of Keppel FELS Energy & Infrastructure Ltd (Keppel FELS), has won a contract from Diamond Offshore Drilling for…
Shanghai To Invest $217M For Port Expansion
Shanghai is reportedly investing $217 million to build a man-made peninsula to expand its deepwater docks. The move, aimed at turning China's largest port into an international shipping center…
Kvaerner Makes A Play For Aker Maritime
"Aker RGI believes that the bid does not reflect the values in Aker Maritime," the company said in a statement. Aker RGI, owned by Norwegian billionaire Kjell Inge Roekke…
Ships Collide
The Greek-flagged bulker/container vessel Ivan Susanin was reportedly involved in a collision on August 6 near Southwest Pass, U.S., with the Russian-flagged freighter Anangel Endeavour.
Nigerian Dockworkers Strike
Dockworkers at the two ports in Nigeria's commercial capital Lagos staged a protest on Monday against new government measures restricting access to the docks to stevedore companies…
Lockheed Martin, Comsat Combination Completed
Lockheed Martin and Comsat have completed the strategic combination following final approval from the Federal Communications Commission (FCC). The transaction was…
Celebrity Cruises Garners Environmental Protection Award
Celebrity Cruises' Century, Galaxy and Mercury have today been awarded Lloyd's Register's Environmental Protection descriptive note. The 70,000-gt Century; 76,000-gt Galaxy…
Canadian Navy Takes Control Of U.S. Cargo Ship
Armed Canadian sailors seized control of the U.S.-owned ship GTS Katie on Thursday after a high-seas standoff in which hundreds of millions of dollars of Canadian…
Canadian Warships Try to Send Message to U.S. Firm
Two Canadian warships have pulled alongside a transport ship carrying hundreds of Canadian army vehicles home from Kosovo to send a message to its U.S. owners to…
China Oil Giant To Double Overseas Output
China's state oil giant China National Petroleum Corp. (CNPC) is expected to more than double its overseas oil output to around 120,000 barrels per day (bpd) this year…
