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.
ABP Says Opens New Bulk Terminal at Scottish Port
A new dry bulk commodities terminal was reportedly inaugurated at the west Scotland port of Ayr.
Saga Says Capable of Staying Independent
Saga Petroleum is reportedly fully capable of remaining independent if shareholders reject a takeover bid by industrial group Norsk Hydro ASA, according to company reports.
Malaysia Port Klang Sees 1999 Container Volume Up
Container volume at Port Klang, Malaysia's busiest port, is expected to rise to 2.1 million TEUs in 1999 from 1.82 million TEUs in 1998.
OPEC's Indonesia Victim of Supply Cuts-Trade
OPEC member Indonesia has reportedly become a victim of the very oil supply cuts it helped to shape, as it has tendered to buy Saudi Arabian, Iranian and Iraqi crude…
Devon to Buy PennzEnergy in $2.42 Billion Deal
Devon Energy Corp. reportedly plans to acquire PennzEnergy Co. in a friendly $2.4 billion deal that would create one of the 10 largest independent U.S. oil and gas producers.
Brazil says 42 Firms to Bid For Oil Area Licenses
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U.S. Oil Drilling Rig Count Up 11, Canada Downs One
The number of rigs exploring for oil and natural gas in the United States reportedly rose 11 from last week to stand at 518 as of May 21, and down from 855 a year ago.
Jurong Shares Surge on Newbuilding Order
Jurong Shipyard shares reportedly surged more than eight percent, or Singapore $0.60, to a year high of S$8.10 morning on hopes that the yard had won a multi-million dollar new building order.
Cruise Line Signs 10 Year Hong Kong Pact
The cruise line unit of Malaysia's Genting Bhd -- Star Cruises Plc reportedly signed a 10-year agreement with Wharf (Holdings) Ltd to berth in Hong Kong.
Seascope CEO To Retire
Shipbroking group Seascope Shipping Holdings Plc said that Tom Young, CEO and chairman, would retire from the roles and become non-executive chairman from September 30.
Jurong Reportedly Close To Six Ship Pact
Jurong Shipyard is reportedly close to signing an order to build six new containerships.
State of the Art Container Terminal To Come To Amsterdam
The Amsterdam Port Authority reportedly has been given final approval to build a new state-of-the-art container terminal. The terminal is said to require a total investment $182.5 million.
World Steel Output Down
World steel output totaled 62.2 million tons in April, 4.3 percent down on the same month last year and 1.7 percent less than in March, the International Iron and Steel Institute (IISI) .
HMS Invincible Called Home
Britain has recalled the aircraft carrier HMS Invincible from the Adriatic Sea where it has been involved in the NATO air campaign against Yugoslavia. No direct…
RoRo Safety Design Initiative Proposed
Curved car decks could improve safety on RoRo ferries, researchers from the University of Strathclyde, said, claiming that curved decks could make RoRo ferries more stable.
Cammell Laird Makes Investment
Cammell Laird Holdings Plc hopes that its $28.43 million purchase of three ships puts it in a position to provide unrivalled ship sourcing and conversion service.
DFDS Boosts Position With Takeover
DFDS's $286 million acquisition of DanTransport is designed to make it the region's second-largest transport company.
Stolt Comex Seaway Business Picking Up
Norwegian offshore services provider Stolt Comex Seaway SA won $60 million worth of contracts after a slow start earlier in the year . Stolt said higher oil prices…
