OPEC Production Falls
OPEC oil production fell 700,000 bpd in November, driven down by deep cuts to Iranian and Iraqi supply. The group's compliance rate with supply curbs improved to…
CPC To Award Two VLCC Crudes
Taiwan state-owned Chinese Petroleum Corp (CPC) is likely to award two VLCCs of West African crudes in its January tender, traders said. They said the grades to…
IEA: Oil Inventories Plummet
Oil inventories fell sharply again in October and stockdraws in major Consuming regions are expected to accelerate in Coming winter months, the International Energy Agency (IEA) said last week.
Daewoo Wins Ship Orders
Beleagured Daewoo Heavy Industries won $230 million in ship orders from Companies in Hong Kong and Europe. Daewoo reported earned an order to build a bulk carrier from Hong Kong's Tai Chong Cheang Co.
CCL: Would Seek Oslo Listing With Successful NCL Bid
Carnival Corp. would seek an additional listing on the Oslo stock exchange if it succeeded in its bid to take over Norwegian cruise firm NCL Holding ASA. Carnival…
NCL Retains Financial Advisers
NCL Holding ASA appointed Orkla Finans and Morgan Stanley as financial advisers following a takeover bid from Carnival Corp. Carnival, the world's largest cruise operator…
Norway Extends Cutback To Q1 2000
Norway, keeping in step with OPEC, will extend a 200,000 barrels per day (bpd) curb to oil output to the end of the first quarter of next year.
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…
Bulk Shipping: Profitability Dependent On Safety
Bulk Shipping has been under the international microscope of late, with spectacular structural failures resulting in sudden loss of lives and ships, vexing designers…
Koreans Consider Marine Propulsion Consolidation
Korea Heavy Industries and Construction Corp. said Daewoo Heavy Industries has expressed willingness to join it in a planned ship engine joint venture. A spokesman…
EC Fines Steel Companies
The European Commission (EC) fined eight steel companies a total of 99 million euros after its probe into a cartel in the market for seamless steel tubes used in the oil and gas industries.
