Norway Extends Oil Cutback To Q1 2000
Norway, keeping in step with OPEC, will extend a 200,000 barrels per day (bpd) curb to oil output to the end of the first quarter of next year. Norway's Oil and…
Lazard Frères Revises Newport News Estimate
Lazard Frères & Company Co. LLC's Equity Research Department has revised its earnings estimate for Newport News Shipbuilding to $2.55 per share in full-year 2000 from $2.60 per share…
Odense Ceases Production After Storm Destroys Crane
A hurricane that passed through Denmark on Dec. 3 caused extensive damages to the huge gantry crane in the dock area at Odense Steel Shipyard. The shipyard has ceased operation due to the incident…
Panama Ready To Step Out On Its Own
As heads of state gather in Panama for Dec. 14 ceremonies in advance of the transfer of the Panama Canal on the Dec. 31, the small Caribbean nation of 2.8 million…
Globe Wireless Establishes Com Center
Globe Wireless released its Globe Communications Center (GCC), designed to streamline onboard messaging and data file transfers for commercial marine vessels. The GCC…
Dockmaster's Training Seminar Offered
Heger Dry Dock will present its four-day Dockmaster's Training Seminar during May 2000 in Seattle, Wash. Held from May 2-5, the course will provide the latest information on dry docks…
Schat-Harding Calling For Clear Technical Standards
Safety specialist Schat-Harding has asked for concise technical standards to back the new IMO life saving regulations, per the company's newsletter, Escape. Machlin…
Abu Dhabi Forms Joint Fast Containership Line
Abu Dhabi Investment Company has established Abu Dhabi Container Lines Limited (ADCL) with Norasia Shipping Limited, Switzerland. The new venture will acquire and…
Suez Canal To Take Larger Ships
Improvements to the Suez Canal will allow ships with a draft of up to 62 ft. to use the waterway by the end of next year, the chairman of the Suez Canal Authority…
Oslo Companies Are Ripe For Picking
Many Norwegian companies remain under-priced and are likely targets for foreign predators, analysts said. Despite gains in the Total index to peaks this week at around 1…
Offshore Shares Are Leading The Way
Offshore shares on the Oslo Stock Exchange continued to rise in November, buoyed by the continuing high oil price and expectations of increased level of activities from oil companies in the year 2000.
USACE Details Mississippi Lock And Dam Closures
Several locks and dams on the upper Mississippi River will be closed to all navigation from January to early March for maintenance and repairs, the U.S. Army Corps of Engineers said.
IEA: Winter Oil Inventories Plummet
Oil inventories fell sharply again in October and stockdraws in major consuming regions are expected to accelerate in coming winter months, the International Energy Agency (IEA) said last week.
Strong OPEC Discipline Continues Rate Depression
As a consequence of low crude oil volumes out of the Middle East - caused by OPEC restrictions and Iraq's stoppage of exports after rejecting to extend the "Oil…
NOL Shares Drop Amid Rumors Of Rating Revision
Shares of Neptune Orient Lines (NOL) fell almost seven percent in heavy trade last Thursday on talk there was some re-rating of the stock following changes in the MSCi index.
Profitability Of Bulk Shipping Dependent On Safety
Bulk shipping has been under the international microscope of late, with spectacular structural failures resulting in sudden loss of lives and ships, vexing designers…
American V. Awarded Management Contract
American V. Ships, Mineola, N.Y., has been named the technical manager of three vessels to be chartered to the recently established Wallenius and Wilhemsen joint venture - Wallenius-Wilhemsen Line.
Friede Goldman Receives Conversion Project
Friede Goldman Offshore, the offshore energy division of Friede Goldman Halter, Inc., has been awarded a contract from Oceaneering International, for the shipyard…
Samsung Wins FPSO Order
Samsung has been granted orders worth a combined $250 million from Nigeria and Australia. The company said it will construct a floating production and storage offloading…
Keppel Hitachi Cuts Workforce
The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to…