J. Erik Hvide Steps Down
Hvide Marine named Jean Fitzgerald chairman, president and chief executive officer, replacing J. Erik Hvide, who resigned for personal reasons. Hvide will remain a member of the board of directors…
Friede Goldman In Deal To Buy Halter Marine
In a deal that will create the U.S.’ most prolific offshore building company, Friede Goldman International Inc. announced plans earlier this week to buy ship builder Halter Marine Group Inc.
Marine Drilling: Confident It Can Deliver On Time
Marine Drilling believes it will meet the July 15 contract deadline for the Marine 700 drilling rig but said that there is a risk it will fail. The readiness of…
Waratah Joint Venture Given Green Light
Waratah Joint Venture Given Green Light Waratah was cleared by Australian authorities to buy a towage business and tug from The Broken Hill Pty Co Ltd.
Avondale Prepared To Accept Revised Litton Offer
Avondale Industries Inc. will reportedly accept an increased cash takeover bid from Litton Industries Inc., forgoing a previous all-stock merger agreement with Newport News Shipbuilding Inc.
Chevron Threatened In Nigerian Ethnic Clashes
Chevron Corp. reportedly contacted Nigeria's newly-installed democratic government over threats by ethnic Ijaw militants to its facilities in the latest fighting in the oil region.
EU Set For Full Probe Into Exxon, Mobil Merger
The European Commission's (EC) competition department will reportedly launch an in-depth probe into the proposed $87 billion merger of U.S. oil majors Exxon Corp. and Mobil Corp. later this month.
Ugland In Restructuring Deal With Swan
Ugland International Holdings Plc reportedly entered into agreements to restructure Norway-based refrigerated vessel (reefer) operators Swan Reefer ASA.
Elf Bid For Saga Give Norway Headache
Elf Aquitaine's bid for Norway's Saga Petroleum is reportedly giving Norway's minority government a gigantic headache by threatening its cherished goal of keeping Saga in Norwegian hands.
ABB Gets EU Nod For Alstom Venture
ABB Asea Brown Boveri Ltd reportedly received approval from the European Commission to complete a proposed 50-50 joint venture with France's Alstom SA.
Daewoo Heavy Wins $180M Italian Order
Daewoo Heavy Industries Co Ltd reportedly won a $180 million order from Italy's Moby Lines to build two luxury car-ferry ships.
Swire Pacific Unit Buys Four Vessels
Swire Pacific Offshore, a Singapore-based unit of Hong Kong listed Swire Pacific Ltd, is reportedly investing more than $50 million to buy four new vessels.
NK To Stay Non-Profit Course
Despite mounting pressures to merge or demutualize societies, ClassNK, Japan's shipping classification society reportedly intends to remain a non-profit making and independent body.
Preussag In Talks To Form Shipbuilding Alliance
Preussag AG is reported to be discussing a shipbuilding alliance -- which would include HDW -- with Sweden's group Celsius.
World's Largest Mutual Marine Insurer Formed
The world's largest mutual marine insurer -- or Protection & Indemnity (P&I) Club -- is set to be created this summer after a management company acquisition. The…
Asia To Europe Shipping Rates Could Pick Up
Container shipping rates from Asia to Europe could be lifted in the second half of 1999 as millennium-related imports put an extra squeeze on limited ship space.
Possible Strike Has Shippers Looking Skyward
The possibility of the first dockworkers strike on the U.S. West Coast in 28 years has shippers looking to air cargo as a back-up. The Pacific Maritime Association…
Passenger Lines Agree To Merger
Passenger shipping firm ANEK Lines reportedly has agreed to merge with Rethymniaki.
Dispute Arises Over Fate Of Sunken Cruise Ship
Maritime authorities and insurers are reported to be at odds regarding the removal of the Sun Vista, the luxury cruise liner that caught fire and sank off the Malaysian last week.
Venezuela Revises Down 10-Year Oil Output Target
Venezuela has reportedly revised its 10-year oil production capacity target downward by more than a million bpd between 4.8 million and 5.2 million bpd.
