Wednesday, December 08, 1999 Maritime News

OPEC Production Falls

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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

Bulk Shipping: Profitability Dependent On Safety

Dec 08, 1999

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

Dec 08, 1999

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

Dec 08, 1999

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.

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