Monday, August 20, 2001 Maritime News

Kursk to Be Lifted As Early as Next Month

Aug 20, 2001

A Dutch firm leading Russia's effort to raise the Kursk said on Monday it was convinced the salvage was safe and planned to start cutting away the nuclear submarine's

The Axe Continues to Swing at Cammell Laird

Aug 20, 2001

Insolvent British shipbuilder Cammell Laird Plc is cutting a further 117 staff, a spokesman for its receivers PricewaterhouseCoopers told Reuters on Monday. The

Chantal Not Expected to Threaten U.S. Offshore Production

Aug 20, 2001

Tropical Storm Chantal is unlikely to threaten U.S. offshore oil and gas production in the next 72 hours but could cause problems for Mexican offshore oil output, according to the U.

Charterers: Panamax Tonnage is Few and Far Between

Aug 20, 2001

Atlantic freight rates are climbing as charterers are finding it hard to attract panamax tonnage on a spot basis, brokers said on Monday. The respite for owners could be short-lived,

Thrane & Thrane Buys Nera's Satellite Units

Aug 20, 2001

Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.

TotalFinaElf Adamantly Denies VLCC Sale Block

Aug 20, 2001

TotalFinaElf denied reports on Friday it had blocked the sale of a VLCC it charters from Norwegian tanker operator Bergesen to three members of the Tankers International alliance.

Tanker Market Looks Glum For September Loading

Aug 20, 2001

Tanker markets soared into orbit this week for August loading dates, but remained dull and depressed for September loading, brokers said. London tanker brokers

A&P Group Purchases Cammell Laird's Dockyards

Aug 20, 2001

Ship repair outfit A&P Group Holdings said on Friday it bought the dockyards of insolvent shipbuilder Cammell Laird, but there was no reprieve for the 204 workers of the northern English firm.

Worldwide Rig Utlization Falls 1.8 Percent

Aug 20, 2001

Worldwide offshore rig utilization fell during the week ending August 17, according to ODS-Petrodata Group. U.S. Gulf of Mexico rig utilization fell 1.8 percent to 77.

Daewoo Expected to Rise Up From Debt Rescheduling

Aug 20, 2001

South Korea's Daewoo Shipbuilding & Marine Engineering is set to graduate this week from a creditors' debt rescheduling plan, a move that will shore up credit ratings

Chantal Expected to Rip Through Yucatan Peninsula

Aug 20, 2001

Tropical Storm Chantal, moving westward toward Mexico's Yucatan Peninsula and Belize, was headed for a landfall on Monday night or early Tuesday, according to the National Hurricane Center here.

Hutchison's Core Profits Fall At Slow, Steady Pace

Aug 20, 2001

First-half profits for Li Ka-shing's Hutchison Whampoa Ltd. will be a festival of one-off gains and charges on its sinking telecoms holdings, but core profits will

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