Govan Shipyard Deal Back On?
It appears that the survival of Glasgow's Govan shipyard is a good bet, as GEC's defense arm is said to have agreed in principle to buy it from Kvaerner. Kvaerner…
Cairncross Shipyard Taken Over
Ernst and Young reported that Cairncross Shipyard in Brisbane - reportedly the largest ship repair facility in the Southern Hemisphere - was taken control of by…
Japanese Foreign Ship Orders Plummet Nearly 25%
Japanese shipyards in June received foreign ship orders for 20 vessels, or 667,500 grt, down 24.4 percent from a year earlier, the Japan Ship Exporters' Association said.
Maersk Line Joins Safmarine on S. Africa/U.S. Route
Maersk Line reported that its ships would join Safmarine and MSC on the express service between South Africa and the U.S. The express service deploys seven vessels…
Oil Edges To 20 Month High
What goes down must come up? The world oil markets have again demonstrated the flair for the dramatic swing, moving higher on Wednesday, powered by stringent OPEC…
New Ferry Service Mulled
The Iceland Steamship Company Ltd. (Eimskip) Iceland's largest shipping company, is considering starting a passenger and car ferry service between Iceland, the Faroe Islands…
Hurricane Patterns Could Crimp Gulf Oil Production
According to Salomon Smith Barney's mid-year weather outlook, the La Nina weather pattern stands to increase the number of hurricanes in the Gulf of Mexico this…
Petrobras Signs Oil Deal With Exxon, Kerr
Petrobras reportedly signed an exploration and development contract worth up to $1 billion with U.S.-based Exxon Corp. and Kerr-McGee Corp.
P&O Cruises Continues Positive Trend
Peninsular and Oriental Steam Navigation Co.’ cruises division saw a continuation in the second quarter of the strongly positive trend shown in the earlier part of the year.
Panama Canal Pilots Agree To Five-Year Contract
Panama Canal administrators and the waterway's most important human resource, the pilots, reportedly agreed on a five-year contract, ending 13 months of labor negotiations.
Baltic Border Deal Paves Way For Oil Search
The settlement of a drawn-out maritime border dispute between Latvia and Lithuania has reportedly set the stage for exploration of a potentially bountiful offshore oilfield.
Offshore Support Focus
Diamond Services Corp., based in Morgan City, La., knows the importance of staying competitive in the oilfield service industry, which is why the company broke conventional…
Offshore Support Focus
Diamond Services Corp., based in Morgan City, La., knows the importance of staying competitive in the oilfield service industry, which is why the company broke conventional…
Litton Shelves $1.8B Bid For Newport
Defense and electronics giant Litton Industries Inc. reportedly withdrew its $1.8 billion offer to buy Newport News Shipbuilding Inc. because of opposition from the U.S. government.
NOL Gets Nod For $500M Fund Plan
Neptune Orient Lines’ (NOL) shareholders reportedly approved a $500 million capital raising initiative at an extraordinary general meeting.
Daewoo To Keep Shipbuilding Unit Management
Daewoo Heavy Industries Ltd. is reportedly looking to set up a shipbuilding joint venture but will not give up management of its shipbuilding division.
Lituania Rejects Shipping LISCO Bids
The Lithuanian privatization agency has reportedly rejected both offers for an 80 percent state stake in shipper LISCO because they were too low, the second time a tender for the shares has flopped.
Kvaerner Wins $31.3M Deal For Tune Gas
Kvaerner has reportedly won a $31.3M contract for the supply of subsea equipment for the Tune gas field off Norway.
S&P: More Shipping Companies Likely To Default
Depressed shipping market conditions are likely to cause more shipping companies to default on junk bond issues, according to Standard & Poors (S&P).
Lowman Helps Less Fortunate In Times Of Crisis
According to the International Hall of Fame Committee, the recipient of the 1999 Humanitarian Award must possess qualities such as contributions to the well being…
