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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…
Union Complains of Unsafe Ships
Thousands of seafarers risk their lives on unsafe cargo vessels that daily enter the East African ports of Mombasa and Dar es Salaam, trade union officials said last week.
ClassNK Opens Durban Office
ClassNK, the Japanese-based classification society has opened an office in Durban, Republic of South Africa in response to a significant increase in survey business…
Freight Rates Dip For First Time This Month
The Baltic indices indicated perhaps some changing conditions in the dry cargo market, with the Baltic Capesize Index falling for the first time this month on evidence…
Seacor Smit Announces Third Quarter Results
Seacor Smit Inc. announced net earnings for the third quarter ending Sept. 30 of $5 million on revenues of $71.9 million. Results for the quarter included a charge…
Cameroon Still Seen As Most Corrupt Nation
West Africa's Cameroon retained the dubious honor of being viewed as the country most likely to take bribes in 1999 while Denmark remained squeaky clean, according to an independent report.
Outlook for Floating Production Systems
The strong and sustained rebound in the price per barrel of oil, coupled with the economic recovery in Asia has offshore production related companies planning for a big 2000.
Is It Back?
To say the Gulf of Mexico maritime business had a down year would be a major understatement. But rags-to-riches-to-rags experience of the past has resulted in a consolidated…
Timecharter Fixtures
Iolcos Grace - (built 1990) 71,749 dwt del Dalian prompt 4-6 months trading $9,000 daily Chinese charterers. North Countess - (built 1986) 70,280 dwt del Kinuura Nov 305 months trading $8…
Bollore Orders Six Containerships
French shipping-to-tobacco conglomerate Bollore ordered six new containerships from Taiwanese group CSBC for $190.3 million. The company said the ships would be…
Commitment for Deepwater Frontier
R&B Falcon Drilling has received a letter of intent from for Petroleo Brasiliero S.A. (Petrobas) for a two-year contract for DP drillship Deepwater Frontier, for…
No Relief Yet
Oilfield service companies were not nearly as lucky as their oil producing counterparts. While net income in the oil producing industry was up over the 1998 third-quarter…
Aker and Vryhof Anchors Extend Agreement
Aker Marine Contractors, Inc. (AMC), a subsidiary of Aker Maritime Inc, and Vryhof Anchors BV (Vryhof) have signed a Letter of Intent to extend their cooperation…
Hyundai Heavy Foreign Ship Orders At $440M
South Korea's Hyundai Heavy Industries Co. won $440 million in foreign shipbuilding orders for 11 vessels so far this month. -Taiwan's Yangming Marine Transport Corp.
Suezmax Market To Be Hit Hardest By Iraqi Export Suspension
Depressed tanker markets will be hit hard by Iraq's decision to suspend crude oil exports for up to two weeks, tanker brokers said. Suezmax tanker rates in the Mediterranean…
Y2K-Related Delays Grip South African Port
Vessel and container handling delays spurred by fears over Y2K bug glitches are still hobbling operations at South Africa's Durban port, a senior shipping official said.
Suezmax Rates Set To Soar
Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have…
Crude Tanker Rates Hold Firm Ahead Of Holiday
Crude oil tanker rates maintained recent strength as markets continued active ahead of the Christmas break, shipping brokers said on Dec. 23. "Aframax and Suezmax markets are still bouyant…
World Energy Flows Freely After 2000 Changeover
From Australia to Alaska, world energy producers carried on as usual on Jan. 1, with strategic oil and gas flows uninterrupted by the much-feared Y2K bug. Oil-consuming…
Millennium Bug Proves More Myth Than Menace
The Y2K bug remained to be less than a threat last Tuesday as London rejoined the working world after the New Year break, but more traditional worries about interest rates quickly deflated markets.
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
