Kvaerner Drops Plan To Dump Shipyards
Kvaerner ASA has postponed a planned sale of its Masa-Yards Finnish shipbuilding unit in a new setback to its goal of exiting shipbuilding. Kvaerner said it had…
Offshore Week
PanCanadian Petroleum Ltd., Canada's No. 2 oil company, could soon be on track to develop an East Coast offshore gas project to rival the huge Sable Island project, its chief executive said.
British Rower Plucked From Sea
A lone British rower on a cross-Pacific odyssey who had eaten nothing for two weeks but a flying fish was rescued from his boat after a Coast Guard search plane found him, officials said.
DUC Natural Gas Production Up 6.9%
Danish Underground Consortium`s (DUC) production of natural gas from its North Sea fields increased 6.9 percent year-on-year in March, operator A.P. Moeller said.
Russian Tanker Stopped For Suspected Smuggling
A Russian tanker was intercepted in the Gulf on Thursday on suspicion of smuggling Iraqi oil in defiance of U.N. sanctions, a U.S. admiral said. The Akademik Pustovoyt…
Panama Canal Income Slips
Toll income at the Panama canal between October and February slipped 2 percent to $240 million, compared with the same period a year before, the Panama Canal Authority (ACP) said.
Saab Awaits ASC Ruling
Swedish defense group Saab AB said it understood the Australian government wished to negotiate about Saab's stake in the Australian Submarine Corporation (ASC),…
Aker Brattvaag Acquires Romanian Yard
Norway’s Aker Brattvaag AS, a unit of Aker RGI signed a contract with Romania's main privatization agency to acquire a majority stake in a local shipyard. A statement…
Marine Finance Briefs
Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government was demanding the right to veto any management decisions in the new firm.
Caterpillar Buys Marine Engine Company
Heavy equipment maker Caterpillar Inc. bought closely held Sabre Engines Ltd., a U.K.-based company that specializes in high-performance marine diesel engines. Terms of the deal were not released.
Who's News
The world's marine insurers collectively lost $3 billion in 1999, Norway's Central Union of Marine Underwriters (CEFOR) said. Cefor's calculation uses the collective…
Business Briefs
Setting sail again, a newly built replica of the Jeanie Johnston, the Irish emigrant ship that rescued thousands from the Great Famine, will voyage from Ireland…
Contracts
Friede Goldman Halter, Inc. announced that it has recently finalized six new contracts with a total value of approximately $40 million. -The Venezuelan government…
Market Watch
Tanker rates to the West firmed as charterers and operators took on board the implications of OPEC's decision to raise oil output, brokers reported. Rates of W68.5 ($11.50 per ton) for 280…
Stadium Financing Has Cruise Companies Calling Foul
A plan to build a $400 million bayfront ball park for the Florida Marlins is pitting the team's millionaire owner against Miami's powerful cruise industry and its billionaire patriarch.
Activists Stage Erika Protest, TotalFina Mulls Oil Treatment Contract
Thousands of protesters from western France marched through Paris on April 1 to demand tighter shipping laws in the wake of the Erika oil tanker spill which devastated parts of their region.
Analysts Say Planned Ban Could Put Oil Supply At Risk
European plans drawn up in the wake of the Erika accident to crack down on aging tankers could endanger shippers' ability to supply oil to the continent, shipping analysts said.
Offshore Market Begins To Rumble
U.S. oil drillers expect weaker or flat first quarter earnings but see revenues picking up later in the year as recent high oil prices trickle down to the service sector.
Shipbuilders Discuss Gameplan
Shipbuilding leaders convened in Washington D.C. last week to discuss the means and methods to propel the U.S. Shipbuilding market at the dawn of the new millennium. By Regina P.
Online Bulk Shipping Exchange Will Transform Market
An online shipping exchange being set up by two of the world's biggest oil firms, a leading agrifood multinational and top shipbroker will transform the way traditional shipping markets work…