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Transocean Sedco Forex Merger Establishes World's Largest Offshore Driller
Transocean Offshore Inc. has completed its merger with Sedco Forex, which was spun-off from Schlumberger Limited. The resulting company, Transocean Sedco Forex Inc.…
Texaco Announces $4.7 Billion Capex Plan
Texaco's capital and exploratory (capex) spending plan for the year 2000 will be $4.7 billion, according to Peter I. Bijur, chairman and CEO. The plan represents…
Moody's Ups Transocean Offshore
Moody's Investors Service upgraded the senior unsecured debt ratings of Transocean Offshore, Inc. to A3 from Baa1 to reflect the significant benefits that the company…
VLCCs Wait For Iraqi Oil, Suezmaxes Poised For Flurry
The expected return of Iraqi oil dominated the 250,000 ton tanker market in the Middle East toward the end of the week, shipping brokers said on Dec. 10. But rates…
Safmarine Adds Three Ships To Schedule
South African shipper Safmarine will add three more ships to its current schedule serving the Mediterranean and Africa on Feb. The new ships bring the number of…
Erika Syndrome Hits Aframax Market
The Erika syndrome, by which charterers are seeking tankers younger than 20 years of age, shifted focus to the Atlantic Aframax markets, shipping brokers said. Two…
North Sea Aframax Rates Rise
North Sea Aframax rates sky rocketed on Friday as continuing pressure to charter modern tonnage strengthened all tanker markets, shipping brokers said. Rates as…
Global Drilling Expected To Bounce Back In 2000
World drilling activity for oil and gas fell 24 percent in 1999 from 1998, but levels should bounce back in 2000, IHS Energy Group said. "In 2000, I expect levels to reach at least those of 1998…
Talk Of Tanker Age Limits Gives Markets A Lift
Tanker markets continued strong at the end of last week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
Global Marine Announces December SCORE
Global Marine's Summary of Current Offshore Rig Economics (SCORE) for December 1999 increased 3.5 percent from a month earlier, with significant improvement of the…
Quarter and Year-End Earnings
Once again, quarter and year-end earnings reported in the offshore market reflected a familiar trend: oil majors saw gains - sometimes significant; while oilfield…
Keppel FELS and PEM SETAL form joint venture to sublease Brazilian yard
Keppel FELS Limited (KFELS), the marine and offshore construction, conversion and repair company of the Keppel Group of Singapore has formed a joint venture with…
Global Marine Q1 Earnings Hit By Rig Downtime
Global Marine Inc.'s first quarter earnings before taxes have been cut about $5.2 million by rig downtime, company officials reported. They added that it will take…
Offshore Recovery Stalled For Now
As crude oil prices reach Gulf War highs and recent memories of historic low crude prices fade, capital spending on finding and developing new oil reserves continue to play catch up.
Dry Bulk Trends
The dry cargo freight market saw a 15 point decline in the Baltic Panamax Index to 1,595, which was largely caused by a change of sentiment in the Atlantic, brokers said. March tonnage in the U.S.
Talk Of Tanker Ageism Gives Markets A Lift
Tanker markets continued strong at the end of the week with talk of new French oil company age restrictions on acceptances said likely to put further pressure on rates.
Aker Announces Newly Formed Division
Aker Maritime, Inc. has formed a new Product Technology and Deepwater R&D group. This group will be headed by Dr. John Halkyard, formerly technical director of Deep Oil Technology, Inc.
Global Marine Q1 Earnings Hit by Rig Downtime
Global Marine Inc.'s first quarter earnings before taxes were cut about $5.2 million by rig downtime, company officials said. Officials also said it will take a…
Update on ENSCO 7500 Construction Project
ENSCO International Incorporated announced construction of the ENSCO 7500 semisubmersible rig is progressing satisfactorily at the Friede Goldman Offshore, Orange, Texas shipyard.
Kvaerner Sells Fabrication Yard, Changes North Sea Strategy
Kvaerner is selling its U.K. Teesside fabrication yard and reducing its reliance on North Sea offshore business, a company official said. The decision to sell the…
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
