Samsung Wins Containership Job
Samsung Heavy Industries Co. reportedly won a $240 million order from Germany's Hamburg Sud to build six 3,400-TEU containerships.
Hyundai To Get $400M Order
Hyundai Heavy Industries is reportedly close to signing a $400 million order with a Nigerian company for two 138,000 cu.-m. LNG carriers.
Tanker Scrapping Increase Needed
According to a report from Norway's Bassoe Shipbrokers, large scale tanker scrapping in the immediate future is the only solution to cure an ailing freight market.
Korean Ship Orders Drop 34%
New orders received by South Korean shipbuilders dropped 34.1 percent in the first seven months of this year versus the same period last year, provisional figures from the Korea Shipbuilders' Assoc.
BHP Acquires Belgium Shipping Group
Australia's Broken Hill Pty Co. Ltd. reportedly acquired a 50 percent stake in Belgium-based shipping group, Cobelfret, in a bid to deliver cargoes more competitively.
Oil Jumps, Fueled By U.S., Russian News
Oil prices raced higher yet again on Wednesday, prompted by a report for the U.S. DOE which notes a fall in U.S. gasoline stockpiles and by news from Russia that…
Mobil Offers Bunker Facilities In Djibouti
Ship operators trading to the Red Sea now have a secure bunker port offering both heavy fuel and high quality diesel oil. Mobil International Marine Fuels can now…
Elf, TotalFina Takeover Fight Heats Up
The takeover battle between Elf Aquitaine and TotalFina has reportedly taken a more hostile tone, pushing back the prospect of friendly merger talks between France's two largest oil companies.
Oil Companies Spent More, Earned Less In 1998
Worldwide capital spending by publicly traded energy firms reportedly increased in 1998 even though falling oil prices sent revenues and profits plummeting.
Rotterdam Port Volume Dips In First Half
The volume of goods shipped through Rotterdam port in the first six months of 1999 reportedly fell 3.7 percent from levels recorded a year ago to 151.6 million tons.
First Olsen Sees Weak Tanker Market Through 1999
First Olsen Tankers Ltd. reportedly expects weak tanker markets to continue until the end of the year.
Skaugen Seeks Gas Consolidation
I.M. Skaugen is reportedly working on consolidating its position in the gas carrier market after beating off a hostile takeover by Italy's Navigazione Montanari.
Scrapping Needed To Put Life Into VLCC Market
Large scale tanker scrapping in the immediate future is the only medicine likely to put life this year into a freight market flat out on its back, according to shipping sources.
Big Oil Reluctant To Shut Ailing Euro Refineries
Giant oil companies will reportedly shy away from closing sickly European refineries, preferring instead to trim costs or seek buyers for the struggling units, according to analysts.
New Zealand Oil Companies To Buy Tanker From Union Shipping
The four oil majors who own New Zealand's Coastal Tankers Limited are reportedly buying the 30,000 dwt oil products tanker Taiko from Union Shipping Company after…
Daewoo Wins $90M Greek Ship Order
Daewoo Heavy Industries Co. Ltd. has reportedly won a $90 million order from Greece's Chandris Inc. to build four bulk carriers.
Montanari Drops Skaugen Bid
Navigaziaione Montanari is reportedly withdrawing a hostile takeover offer for Norway's I.M. Skaugen after holders of only 13 percent of the Norwegian firm accepted the bid.
Acomarit Unit To Manage 30 Petrobras Tankers
Acomarit, a Scotland-based ship management company, has reportedly set up a Brazilian-based company to service tankers operated by Brazil state oil group Petrobras.
Foreigners Welcome Inclusion In Daewoo Reforms
Foreign investors reportedly welcomed the inclusion of overseas creditors in talks to restructure South Korea's limping Daewoo Group, saying it could help stave off a corporate debt crisis.
Rex Alloy Introduces Patrol/Workboat For High Seas
Designed by policemen for policemen and capable of speeds up to 70 mph, Rex Alloy's new 43 ft. (13.1 m), high speed Rigid Inflatable Boats (RIBs) are reportedly engineered as the strongest…
