Oil Prices Steady As Buyers Return
Oil prices steadied as buyers returned to the market on Friday to take advantage of a five percent slump set off by speculative fund sell-off on Thursday. Brent…
LCL Buys Stake In Royal Olympic
Cyprus cruise operator Louis Cruise Lines has signed a deal to acquire a 51.4 percent controlling stake in Nasdaq-listed Royal Olympic Cruise Lines. The value of the deal was not released.
Cargo Ship Missing, Feared Hijacked
A Japanese cargo ship has been missing since its departure in Indonesia Oct. 22, prompting fears that it might have been hijacked. The Alondra Rainbow, carrying 7…
CSBC To Build Containerships For Maersk
China Shipbuilding Corp. (CSBC) has reportedly won a contract to build two more small container vessels for Maersk Line, which already has four vessels on order with the Taiwanese company.
Royal Caribbean Fined $6.5 Million For Spill
Royal Caribbean Cruises Ltd., the world's second-largest passenger cruise line, was fined $6.5 million on Oct. 21 for dumping oily bilge water and other pollutants into Alaskan waters.
SS&Y Capesize Indices Fall
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 32 points to 4,346 in the week ending Oct. 25. "Despite a 32 point decline in the index, there…
Offshore Rig Counts Unchanged
The offshore rig count pattern of recent weeks continues. According to Offshore Data Services' weekly mobile offshore rig count, the U.S. Gulf of Mexico rig count…
McClier-Frederic R. Harris To Create Major Hub On Suez Canal
The McClier-Frederic R. Harris architecture, engineering, construction and consulting team has been selected to create a trade port and industrial city at Port Said East…
New Cat 3412E Offers More Power
Caterpillar's Engine Products Division offers a new totally electronic 3412E marine diesel engine with ratings from 530-1,400 bhp for commercial marine application.
Hvide Marine Reports Third Quarter Loss
Hvide Marine Inc. reported a net loss of $20.1 million or $.129 per diluted share on revenues of $86 million for the quarter ended September 30, 1999. In the period one year earlier…
Moore Stephens Branches Out To Russia
Shipping accountant Moore Stephens has continued its expansion in Russia by opening an office on Sakhalin Island in Russia's Far East. Martin Rix will move from…
Holland & Knight Names Exec. Partner
William J. Honan was appointed executive partner of the N.Y. office of Holland & Knight LLP, effective October 1, 1999. As executive partner, Honan will focus on the continued growth of the N.Y.
Marinette Marine Corp. To Launch U.S. Navy Vessel
Marinette Marine Corp. To Launch U.S. Marinette Marine Corp. launched the U.S. Navy's Barracks Craft (APL-65) into the Menominee River at a ceremony on October 30.
Lawrence Graham Appoints New Partner
London-based law firm Lawrence Graham has appointed Charles Baker, an experienced maritime and trade lawyer, as a new partner. Baker, who has more than 25 years experience in maritime law…
R&B Falcon Drillship Sustains Damage
R&B Falcon's drillship Deepwater Pathfinder sustained damage recently when 20 joints of the vessel's riser and its blowout prevention equipment fell to the seabed in about 7,000 ft.
GlobeOffshore Now Available From Globe Wireless
GlobeOffshore, the first fully integrated workboat management system, is now available from Globe Wireless. The system acts as a decision support tool helping to improve vessel utilization…
EuroCom Downgrades Forecast
Maritime communications equipment maker EuroCom Industries (ECI) downgraded its 1999 sales and earnings forecast last week, citing slow demand for a key product after U.S.
Shell To Spend $1B To Develop Nigerian Field
Royal Dutch/Shell plans to spend $1 billion developing the 120,000 bpd shallow water EA field off Nigeria using an innovative funding scheme. "The acreage would…
Keppel Elects New Executive Chair
Keppel Corp. Limited and Keppel TatLee Bank Limited have appointed Lim Chee Onn as executive chairman upon the retirement of Sim Kee Boon, effective January 1, 2000.
Mobil-Brand Marine Lubricant Service Available
Mobil Corporation's affiliates will now offer marine lubricant service to shipping companies calling on ports located in the Dominican Republic, Curacao, Aruba and Bonaire.