Report: Deepwater Development Will Outpace Equipment Supply
The booming global deepwater oil industry is on course to outpace supply of offshore development hardware in the next two years, according to an analysts' report.
Chevron Announces Strong 3Q Results
Chevron Corp. said third-quarter profit surpassed expectations, with earnings more than doubling on the back of surging oil and natural gas prices. The oil company…
Shipbuilders Complain About S. Korean Shipbuilding Aid
European shipbuilders recently complained to the European Union over South Korean state aid to its shipbuilders, opening the way for a possible EU case against Seoul…
SS&Y Indices Push Higher
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 123 points in the week ending Monday to 5,726. "A major resurgence from Japanese interests heated…
Greek Ministry Lifts Ban On 61 Ferries
The Greek Merchant Marine Ministry has lifted a ban on 61 passenger ferries ordered into port for failing to meet safety requirements after the sinking of the Express Samina last month…
ExxonMobil to Integrate Lubricants Businesses in Europe
ExxonMobil Lubricants announced it is integrating the Esso and Mobil lubricants operations in Europe. The European regional office for the ExxonMobil lubricants…
Strike Affects Malta Shipbuilding
Thousands of striking workers demonstrated in Malta's capital on Friday, Reuters reported, against tax increases and major shipyards were hit by the industrial action.
North American Rig Count Up
The number of rigs exploring for oil and natural gas in North America rose by 23 during the week ending October 20, because of a gain of 14 in Canada and helped…
Lawmaker Calls For Suspension Of Jones Act For Tankers
Texas Republican lawmaker Joe Barton, chairman of the House Commerce Energy Subcommittee, said he wants a 90-day suspension of rules that do not allow foreign tankers…
Marinette Marine Sold For $48 Million
Manitowoc Co. Inc. reportedly signed an agreement to buy private shipyard operator Marinette Marine Corp. for about $48 million cash. The deal is expected to add…
Nepline To Sell Tankers For $38M
Malaysian shipping firm Nepline Bhd agreed to sell two crude oil tankers to American Eagle Tankers Inc for $38 million cash. The sales were driven by the recent…
Report: Three Carriers Dominate TransAtlantic Trade
Three new carrier groups now control 58% of the total capacity in the transatlantic container trade, according to World Liner Supply, a new quarterly report from…
AMCV Secures Financing For Delta Queen Coastal Vessels
American Classic Voyages (AMCV) has issued $76.4 million of bonds guaranteed by the Maritime Administration of the U.S. Department of Transportation (MarAd). The…
Keppel Shipyard Is Awarded Jumboization Contract
Keppel Shipyard, a member of the Keppel Hitachi Zosen Group, has secured a $3.9 million jumboization contract from Baggermaatschappij Boskalis bv (Boskalis), an…
FBMA Babcock Secures TriCat Order
FBMA Babcock Marine has agreed with ferry operator Dae A Express Shipping Co. of Pohang, South Korea, for the construction of a 171 ft. (52 m) TriCat fast passenger ferry.
Tribon Solutions Signs Contract With Daewoo Heavy Industries
Tribon Solutions has signed a $ 4.5 million, 3-year contract with Daewoo Heavy Industries to supply and implement the Next Generation of the current Tribon M1 product on Windows NT.
AMCV Secures Financing For Delta Queen Coastal Vessels
American Classic Voyages (AMCV) has issued $76.4 million of bonds guaranteed by the Maritime Administration of the U.S. Department of Transportation (MarAd). The…
RCL Profits Up 18.5%
Royal Caribbean Cruises Ltd. reported an 18.5 percent leap in third quarter profits to a record and said that industry fundamentals were strong despite competitive pricing.
LOOP Crude Deliveries Hold Steady
Crude deliveries to Louisiana Offshore Oil Port (LOOP), the only deep-water U.S. oil port and a major conduit for the country's crude oil imports, will hold steady at stronger levels in November.
Scandlines Ferry Deal Could Drop In November
The Danish and German governments plan to sell the joint-owned Scandlines ferry line and companies from Sweden, Denmark and Germany had expressed an interest in buying the firm.
