Maritime Industry Top News
Oceaneering Receives Letter of Intent for FPSO
Oceaneering Intl. has been granted a letter of intent from Angola Drilling Company (ADC) to charter the FPSO Ocean Producer for a period of seven years to produce…
Friede Goldman Shares Drop 63 Percent on Bankruptcy Fears
Shares of Friede Goldman Halter, which manufactures offshore equipment for the energy industry, plummeted on Tuesday after the company said it may have to seek bankruptcy…
Panamax Market May Get Jump Start From Active Atlantic
The panamax market may see a boost from increased activity in the Atlantic and more business coming from South America, brokers said on Wednesday. Prospects for…
Search For Survivors of Fishing Vessel Disaster Continues
The search for crewmen missing in what is believed to be Alaska's worst fishing disaster was hampered by bad weather and poor visibility in the Bering Sea on Tuesday, the U.S. Coast Guard said.
Court To Decide Fate of Product Tanker Fleet
A dispute has erupted in New York courts over control of a fleet of petroleum product tankers, currently working for oil major Shell. Both the owner of the ships…
Royal Caribbean Is Granted Extension on Two Ship Option
Royal Caribbean is pushing back to late June final decisions on building two new 2,100-passenger ships costing about $500 million each. The move by Royal Caribbean…
Baltic Nations to Focus on Maritime Safety
Germany called on Wednesday for nations bordering the Baltic Sea to boost maritime safety to avoid accidents such as last week's tanker collision, which led to an oil spill off the Danish coast.
Striking Workers Threaten Violence At Port of Santos
A threat of further violence from striking workers at Santos, Latin America's biggest port, kept police on alert and hampered movements of goods on Wednesday, the port authority said.
Dr. Ronald D. Sugar Elected To Northrop Grumman's Board Of Directors
Northrop Grumman Corporation has appointed Dr. Ronald D. Sugar to its board of directors, increasing the board to 14 members. Dr. Sugar, formerly president and COO of Litton Industries Inc.…
Northrop Grumman Takes Litton for $3.8 Billion
Northrop Grumman Corp., the number five U.S. defense contractor, said on Tuesday that it has completed its $3.8 billion purchase of warship and defense electronics maker Litton Industries Inc.
Philippine Island Ferry Carrying Students Capsizes
Two people died and six were missing after a Philippine island ferry carrying students to a summer camp capsized in turbulent waters near central Romblon Island, the coastguard said on Tuesday.
Could it Be Curtains for Globalstar?
Mobile satellite telephone company Globalstar L.P. said on Monday it recorded a net loss of $3.8 billion in 2000 and it could seek bankruptcy protection if it cannot execute a restructuring plan.
U.S. Fishing Vessel Disappears Beneath the Bering Sea
Two crewmen were dead and 13 missing Monday after a U.S. fishing vessel vanished in the icy Bering Sea in what could be Alaska's worst fishing disaster, the U.S. Coast Guard said.
Foot-and-Mouth Fears Force British Ship Out of Canadian Port
A British ship was directed home from the Canadian port of Quebec City on Tuesday with its cargo only partially unloaded due to fears of foot-and-mouth disease, port authorities said.
Caribbean Upcoast Trade Experiences Downturn
Shipping's most volatile market, the Caribbean upcoast trade, has plummeted in the last few days to levels not seen since last November and freight costs are now…
Explosion Rocks Brazil's Port of Santos
A bomb exploded on Tuesday at the main power station of Brazil's top port of Santos but the port suffered no interruption in power, said the port authority Codesp.
Japanese Shipbuilding Giants Cut Their Losses
Japan's Kawasaki Heavy Industries Ltd. and Ishikawajima-Harima Heavy Industries Co. Ltd (IHI) said on Tuesday they would integrate their loss-making shipbuilding divisions in October 2002.
Royal Caribbean's Radiance of The Seas Debuts In Miami
Keeping in step with the cruise industry's rush to build ever bigger vessels, Radiance of the Seas is Royal Caribbean's newest ship and will travel North America's…
New Zealand Ports Operator Explores Further Networks
New Zealand ports operator Ports of Auckland said on Monday that it is looking at up to eight options to encourage shippers to send more export containers through its facilities…
$8.8 Million Grants SembCorp 50 Percent Of PPL
SembCorp Marine Ltd (SCM), Singapore's largest ship repairer, said on Monday it acquired a 50 percent stake in Singapore-based PPL Shipyard Pte Ltd for S$16 million ($8.8 million).
