Offshore Shares Driving The Oslo Market
Share prices in Oslo rose in August for the sixth consecutive month, and can thus show for positive share price movements for seven out of eight months so far this year.
Tightened Supply, Severe Winter Could Drive Oil Even Higher
Oil importers last week were facing the prospect of a severe winter price spike as OPEC exporters prepared to turn the screw on stringent supply restrictions. Benchmark…
Aframax Charterers Say Size Does Matter
Charterers are benefiting from the increased size of modern Aframax tankers by not having to pay a premium for the extra capacity, tanker owners say. "Analysis of…
Australian Collins Subs Will Not Be As Fast As Expected
Australia's ill-starred fleet of Collins class submarines could dive into action next year after a major refit, although they will end up slower than originally planned…
Tank Tests
The Salvage Association (SA) said last week that it has pinpointed phosphoric acid as another chemical cargo causing some anxiety to marine underwriters, following…
Seaonal Surges Not Enough To Lift Rates From Depression
Sustained strong oil demand growth is required to lift product tanker freight rates out of their current depressed levels, shipbroker Simpson Spence & Young said in a new report.
OPEC Restrictions Expected To Send Oil Prices Soaring
Resurgent world oil prices will blaze towards the highest level since the Gulf War this winter as key producers stick to strict supply curbs, a Reuters survey found last week.
Siemens Fits Out Italian Submarines
The Marine Engineering Subdivision of Siemens Industrial Projects and Technical Services Group (ATD) is fitting out two submarines for the Italian Navy with propulsion…
NASSCO Awarded U.S. Navy Contract
National Steel and Shipbuilding Company (NASSCO) was awarded a $1.5 million study contract for the first phase of the U.S. Navy's Auxiliary Dry Cargo Carrier T-ADC(X) Program.
R&B Falcon Completes Project Financing
R&B Falcon Corporation announced that Deepwater Drilling II, owned by affiliates of R&B Falcon and Conoco, has concluded a $270 million project financing. All proceeds…
Newport News Appoints Stabler
Newport News Shipbuilding named Scott Stabler to the position of vice president, assembly; and the retirement of George Wade, vice president of assembly, test and trades.
Tidewater Elects President
Tidewater Barge Lines, headquartered in Vancouver, Wash., has appointed Stephen A. Frasher as president and COO. Frasher, who holds an MBA from New York University…
Keppel Hitachi Zosen To Buy Selected Businesses
Keppel Hitachi Zosen Limited (KHZ) has agreed to purchase the shiprepair/shipbuilding and related businesses of Keppel Marine Industries Limited (KMI) for $167 million in cash.
Hvide Marine Announces Voluntary Chapter 11 Filing
Hvide Marine Inc. has submitted a voluntary Chapter 11 filing in the U.S. Bankruptcy Court in Delaware. This filing allows Hvide to operate its businesses in a regular…
Mack Power To Market Diesel Engine
Mack Trucks will market its premier 12-liter diesel engine, the E7, as a power source for various industrial and marine market applications. The company's newest business unit…
OSL Forms Ballast Systems Alliance
OSL Offshore Systems & Deck Machinery has formed a business alliance to manufacture and supply turnkey ballast systems for offshore drilling and production rigs.
Mivan Wins QEII Contract
Northern Ireland engineering company Mivan Ltd. has reportedly won a share in a $32 million contract to refurbish five of the public areas, including one of the main restaurants…
Britain Prepares For Next Anticipated Computer Glitch
British maritime authorities have reportedly chartered winter tugboats early to help head off a possible shipping disaster anticipated on Thursday - the ninth day of the ninth month, 1999.
S. Korean Shipbuilding Orders Fall 30 Percent
New orders received by South Korean shipbuilders fell 30.3 percent in the first eight months of this year from a year earlier, according to provisional figures from…
Holyman Rejects Adsteam Takeover Offer
Directors of shipping and transport group Holyman Ltd. unanimously rejected a revised takeover bid from tugboat operator Adsteam Marine Ltd., saying it was still below fair value.
