Maritime Industry Top News
ExxonMobil Consolidates In Scandinavia
ExxonMobil Marine Fuels has consolidated its Scandinavian sales and marketing operations in its new European and world headquarters in Leatherhead, U.K. Helen Flattum…
Just2Clicks Launches Online Cargo Insurance Service
Internet firm Just2Clicks' Translinx unit has launched an on-line, fully interactive cargo insurance service, covering all forms of transport. Translinx said its…
Friede Goldman Offshore Settles Dispute
Friede Goldman Offshore Texas has reached a decision with Petrodrill IV and Petrodrill V concerning contract disputes over Friede Goldman's construction of two Amethyst…
Eastern Queen Refloated Off India
New Mangalore, India: The Panamanian-flagged bulker Eastern Queen was refloated off New Mangalore, India, on June 8 and moved to an anchorage. The 70,196 dwt bulker…
Harland & Wolff Lays Off 280
Harland and Wolff said it would lay off 280 workers this week. The shipyard recently secured its future by winning orders for four ferries worth $456 million and two cruise liners worth $350 million…
Chevron And Mitsui Award Kawasaki
Through a joint venture company, Chevron Corp. and Mitsui & Co. have awarded Kawasaki Heavy Industries with a contract for the construction of two 82,200 cu.m. Liquefied Petroleum Gas (LPG) carriers…
Shipping Company's Losses Total $110M
Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport…
Aker Constructs For SeaFrance
Aker Finnyards and SeaFrance have signed a contract worth more than $88.9 million for the construction of a new car-passenger ferry for the Dover-Calais route. Touted…
Litton Marine To Supply For Car Carriers
Litton Marine has been tapped to supply navigation, communication, control and stabilization systems for a trio of new car carriers under construction in Japan.
Tidewater To Purchase Platform Supply Vessel
Tidewater has signed a letter of intent to purchase M/V Ace Navigator from the Sanko Steamship Co. of Tokyo, Japan for $22.5 million. Constructed in October 1999…
Malta Drydocks: Johnson Out, Seeking New CEO
Malta Drydocks has issued an international call for applicants for a new chief executive after dismissing the British incumbent a year before his contract expires.
P&O Raises Cash For Cruise Ships
P&O has raised $650 million in financing for two new cruise ships to be built by French shipyard Chantiers de l'Atlantique, lead banker SG said. The two new vessels…
Cargill To Ship Low Sulfur Cargo From SE Asia
Cargill Inc is reportedly in the process of shipping the first low-sulfur gas oil or diesel cargo from Southeast Asia to Europe. Reports say the company had chartered a tanker called the Young Lady…
ING Barings Raises Rating On 4 Shipping Companies
ING Barings raised its ratings on four shipping companies to strong buy from buy. Analyst Stephen Gengaro raised his ratings on shares of Frontline Ltd. to a strong…
P&O Nedlloyd To Buy Farrell Lines
It is reported that P&O Nedlloyd reached an agreement to buy U.S. Farrell Lines Inc for an undisclosed sum. No timing was set for the purchase, which is subject to approval by the U.S.
Bureau Veritas In E-Commerce Push
Bureau Veritas officials said a group-wide move into e-commerce is expected to underpin a projected nine percent growth in revenues and 15 percent growth in profits for 2000.
Nigeria Sees Future In Deep Offshore Fields
Nigeria's deep offshore fields showed more promise for oil finds than fields closer to shore, a senior Nigerian official said. Of the 18 wells drilled recently in Nigerian waters less than 1…
Bocimar, Investor Offer To Buy Out Wah Kwong
Bocimar Far East Holdings, along with a shareholder of Wah Kwong Shipping Holdings Ltd., have offered to buy out the Hong Kong shipping group, which has been suspended…
Hornbeck-Leevac Announces Expansion Of OSV Fleet
Hornbeck-Leevac Marine Services, Inc. has announced that its wholly owned subsidiary, Hornbeck Offshore Services, Inc., has begun a new vessel construction program…
Thomson-CSF Eyes Vosper
French defense group Thomson-CSF plans to bid for British warship builder Vosper Thorneycroft, which in turn is preparing a bid for U.K.-based Hunting Engineering, according to press reports.
