Gulf Of Mexico Rig Count Declines
The U.S. Gulf of Mexico rig count declined for the first time in four weeks, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191 rigs deployed in the U.S.
Capers Continue Firm, Uncertainty Rules Panamaxes
Conditions for Capesize vessels remained firm on Dec. 10, especially in the Atlantic, but uncertainty ruled the Panamax sector as owners sought to cover their vessels in advance of impending holidays…
North Sea Rates Surge On Holiday Vessel Shortage
North Sea oil tanker rates surged spectacularly again on Dec. 13 on a shortage of vessels available before Christmas, shipping brokers said. Aframax 80,000 ton vessel…
VLCCs Wait For Iraqi Oil, Suezmaxes Poised For Flurry
The expected return of Iraqi oil dominated the 250,000 ton tanker market in the Middle East toward the end of the week, shipping brokers said on Dec. 10. But rates…
Carter To Panama: 'It's Yours'
Former U.S. President Jimmy Carter symbolically placed the Panama Canal into Panamanian hands last Tuesday with the simple words, "it's yours," granting the tiny…
Ports Stress Need for Federal Government Partnership
U.S. public ports testified at a hearing before the House Transportation and Infrastructure Subcommittee on Water Resources and Environment about the continued need…
Cruise Lines Face Y2K Supplier Squalls
The world's biggest cruise lines have made their own computers shipshape against Year 2000 glitches but still face possible electronic squalls arising from problems…
Waukesha Announces New Appointments
Waukesha Engine Division has announced the appointments of William M. McCormick to vice-president, engineering and Lloyd S. Beauchamp to vice-president, sales. In his new position…
Frink Retires From Parker Drilling
Shelby Frink, vice-president of operations support, retired from Parker Drilling Company after 43 years of service with the company. He began his career with Parker…
Minoan Lines To Sign Loan
Ferry operator Minoan Lines will sign a $253.5 million syndicated loan jointly arranged by Citibank and National Bank of Greece to finance four highspeed ferries under construction…
Moody's Ups Transocean Offshore
Moody's Investors Service upgraded the senior unsecured debt ratings of Transocean Offshore, Inc. to A3 from Baa1 to reflect the significant benefits that the company…
Alstom To Build P&O Cruise Ships
Alstom won an order from P&O for two 1,000 cabin, 88,000 ton cruise ships. Although a price was not given for the deal, based on the current price range for cruise…
P&O Cruise Division Sees Strong Trading, Advances Plans For U.S Listing Next Year
The cruise arm of Peninsula and Oriental Steam Navigation Co. continues to experience excellent trading conditions, with total capacity up 14 percent this year, company officials said.
Giant Fuel Oil Slick Threatens French Coast
Authorities along the length of France's Atlantic coast were on alert last Wednesday as a giant fuel oil slick slowly drifted south of Brittany, threatening an ecological disaster.
Offshore Oilfield Stocks Rally
Offshore oilfield service stocks, to put it mildly, have endured a wild ride for much of 1999. The once high-flying sector actually hit the skids in concert with the late 1997 Asian financial crisis…
NCL Shares Fall As Star Cruises Buys Stake
Shares in Norwegian cruise operator NCL Holding ASA fell six percent early last Wednesday after Singapore's Star Cruises bought a 20.6 percent stake but said it…
Japanese Foreign Order Down 29%
Japanese shipyards received foreign orders for 23 vessels totaling 687,650 grt in November, down 28.9 percent from a year before, the Japan Ship Exporters' Association said.
Carnival To Allow NCL Bid To Expire
Carnival Corp. plans to allow its tender to buy Norwegian line NCL Holding to expire on the December 22 deadline without making any adjustments. Carnival had bid 30 crowns per share for NCL…
Alstom To Build P&O Cruise Ships
Alstom won an order from P&O for two 1,000 cabin, 88,000 ton cruise ships. Although a price was not given for the deal, based on the current price range for cruise…
Hvide Marine Emerges From Chapter 11
Hvide Marine Incorporated has completed its exit financing arrangements and that its Plan of Reorganization has become effective, thereby marking the company's formal emergence from Chapter 11…