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U. S. Customs and Border Protection (CBP) Commissioner Robert C. Bonner announced that the Container Security Initiative (CSI) becomes operational today at the port of Genoa, Italy.

22 May 2001

Global Marine SCORE Up 7.2%

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for April 2001 increased by 7.2 percent over the previous month's SCORE…

26 Jun 2003

Sri Lanka joins CSI

Sri Lanka has signed an agreement to join the Container Security Initiative (CSI). Only two weeks ago, the Department of Homeland Security announced to beginning of Phase II of CSI…

18 Feb 2003

GlobalSantaFe Reports SCORE for January

GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for January 2003 was flat with the previous month's SCORE.

24 Feb 2003

Stolt Offshore Appoints CFO

Stuart Jackson has been appointed as Chief Financial Officer for Stolt Offshore. He will start with the company on April 22, 2003. industry. Africa. General Manager…

03 May 2001

Castor's Downfall: Hyper-Accelerated Corrosion

Few marine incidents have vexed the collective international marine community as much as the recent situation with the damaged product tanker Castor, a ship, which…

12 Mar 2003

Seabulk Offshore Appoints Gray as VP

Seabulk Offshore has appointed Gerald A. Gray as Senior Vice President-International, effective immediately. Gray is responsible for Seabulk Offshore's operations in overseas markets…

11 Mar 2003

SeaWave’s New Stations Completed

SeaWave LLC announced the completion of two new communications stations in South Texas and Seattle, Wash. The new stations consist of multiple antenna arrays which…

31 Mar 2003

ISU Warns that Environmental Salvage is Undervalued

Salvage services with environmental objectives are undervalued, according to the International Salvage Union. ISU President Joop Timmermans told some 200 delegates…

13 Apr 2000

R&B Falcon Confirms U.S. Reading & Bates Development Co. (DEVCO), a wholly owned subsidiary of R&B Falcon Corporation, announced its Boomvang Project in deepwater offshore Texas is proceeding rapidly.

10 Dec 1999

Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers said on Wednesday. Rates for the one million barrel…

10 Dec 1999

Strong OPEC Discipline Continues Rate Depression

As a consequence of low crude oil volumes out of the Middle East - caused by OPEC restrictions and Iraq's stoppage of exports after rejecting to extend the "Oil…

06 Dec 1999

Market Secrecy Bad For Rates, Say Brokers

Increased secrecy in the tanker chartering market may be pushing rates lower, even though many brokers and owners like the idea of doing private business. Although…

14 Dec 1999

Exxon Mobil Makes Major Find Off Nigeria

Exxon Mobil Corp. made a major oil and gas discovery in the deepwater off the coast of Nigeria. Located about 100 miles southeast of Lagos, the discovery well, Erha-1…

24 Sep 1999

R&B Falcon Completes $270 Million Project Financing

Deepwater Drilling II L.L.C., a limited liability company owned by affiliates of R&B Falcon Corporation and Conoco, has concluded a $270 million project financing.

07 Oct 1999

R&B Falcon Drilling Receives Letter Of Intent

R&B Falcon Drilling has received a letter of intent from Petroleo Brasileiro S/A Petrobras for a two-year contract for the DP drillship Deepwater Frontier for operations…

01 Oct 1999

ICB Tankers Deal Boosts Weeks' Ship Sales

Greek shipowner John Angel-icoussis' acquisition of four ICB tankers last week was the highlight of a busier market, Allied Shipbroking Inc. said in its latest ship sales report.

10 Sep 1999

Tanker Rates Strengthened Slightly In Middle East, Asia

Freight rates for Korea-bound VLCCs out of the Middle East joined those for Japan in hitting W50 by Sept. 3, brokers said. At least one fixture of W50 was reported for Korea…

10 Sep 1999

Y2K Worries Prompt Cargill To Avoid S. Africa

Cargill U.S.-based commodities giant Cargill Inc. has told South Africa it plans to avoid trading there from mid-December to mid-January because of worries over…

23 Sep 1999

Chevron Funds Upstream Growth in $5.1 Billion Capital Program

Chevron Corp. announced a $5.1 billion capital and exploratory spending program for 1999 and a plan to reduce expenses in 1999 by $500 million. The planned actions…

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Maritime Piracy

Posted to Maritime Reporter on November 20, 2023

The maritime piracy menace is an old one, but it continues to be a significant threat to the global trade and security of the seas. Piracy is a major challenge today, despite concerted efforts by international organizations to combat this illegal activity. New developments and persistent threats are shaping the current landscape.

Houthi Rockets Wreak Havoc on Middle East Container Shipping

Posted to Maritime Reporter TV ( by Greg Trauthwein ) on January 17, 2024

As the Houthis recklessly launch drone and missile attacks on commercial ships in the Red Sea, carriers and shippers will pay as some marine traffic reroutes around South Africa. Peter Sand, Chief Analyst, Xeneta, discusses with Maritime Reporter TV the cost of the crisis as well as shipping strategies to consider now.

Narco-Submarines: The Hidden Depths of Drug Trafficking

Posted to Maritime Reporter on July 29, 2024

Narco-submarines, the clandestine vessels used by drug traffickers, represent one of the most sophisticated and elusive methods of smuggling drugs across international waters. These semi-submersible and fully submersible crafts are a testament to the ingenuity and resourcefulness of criminal organizations in circumventing law enforcement efforts. This article delves into the history, construction, operation, and interdiction of narco-submarines, highlighting their impact on global drug trafficking.

Drug Smuggling on Ships and Submarines: An Escalating Threat

Posted to Maritime Reporter on July 29, 2024

Drug smuggling has long been a lucrative enterprise for criminal organizations worldwide. With the increasing sophistication of law enforcement agencies and border controls, smugglers are continuously adapting their methods. One of the most challenging trends to combat is the use of ships and submarines to transport illicit drugs across international waters. This article explores the methods, routes, and challenges associated with maritime drug smuggling.

Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.

Posted to Maritime Reporter on May 3, 2024

Shipping group Maersk raised its full-year earnings guidance after reporting first-quarter incomes on Thursday, citing strong demand and higher freight rates as ships cruise for longer to avoid dispute in the Red Sea.The business, viewed as a barometer of world trade…

Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East

Posted to Maritime Reporter on March 5, 2024

War tensions in both Ukraine and the Middle East have had an increasingly disruptive effect on the global shipping market. As the ongoing conflicts in these regions continue, the impact has had a butterfly effect on maritime trade, shipping routes…

Maritime Piracy in the Horn of Africa:

Posted to Maritime Reporter on July 26, 2024

The Horn of Africa, strategically positioned at the nexus of global trade routes, has long faced the specter of maritime piracy. The waters off Somalia, in particular, have been notorious for piracy incidents that have disrupted international shipping, imperiled seafarers, and prompted multinational military responses. This region's unique combination of socio-economic, political, and geographic factors has engendered a breeding ground for modern piracy, posing complex challenges for the international community

Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea

Posted to Maritime Reporter ( by Maritime Reporter & Engineering News / Reuters ) on May 21, 2024

In a chilling televised address, Abdulmalik al-Houthi, the leader of Yemen's Iran-backed Houthi rebels, has issued a dire warning to the world: all vessels bound for Israeli ports, regardless of their location, will now be considered legitimate targets.

Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck