Bank Repossesses Two Great Ocean Ships
Banque Indosuez of France has reportedly repossessed two of Shenzhen Great Ocean Shipping Co. Ltd.'s ships for failure to repay interest and principle on a $24 million loan.
Metro To Rationalize Cruise Business
With the sinking of its large cruise vessel, the Sun Vista, Metro Holdings Ltd. will reportedly realign its cruise business to focus on operations of two smaller vessels.
Jinhui Units Mulls Bulk Carrier Purchase
One of Jinhui Holdings Ltd.'s indirect subsidiaries is reportedly in negotiation with a third party regarding the acquisition of a bulk carrier.
U.S. Delays Decision On Oil Drilling In California Waters
The U.S. Interior Department's Minerals Management Service (MMS) will reportedly delay its decision on whether oil companies can drill for oil and natural gas off California's coast.
Oil Merger Regulators Bare Teeth On Upstream Fears
Fears of an emerging oligopoly in oil exploration and production have reportedly become the crunch issue as huge planned mergers go before competition authorities.
HBG Unit Wins Offshore Order
Hollandsche Beton Group (HBG) reportedly won a $14 million order from Hague-based Elf Petroland BV to design and build an unmanned offshore gas platform.
Evergreen Plans Expansion
Taiwan's Evergreen Marine Corp reportedly plans to expand its global network and forge new alliances in some areas during this year.
Panamanian Register Extends Lead
The percentage of ship owners choosing to register their vessels in Panama continues to rise, according to Lloyd's Register. The Panamanian-flagged fleet grew by…
Kvaerner Govan Pact Reported Close
A deal to save the Kvaerner Govan shipyard in Glasgow is reportedly close to finalization, according to local newspaper reports. The rumored buyer is General Electric Co Plc .
Bunkering Shares Sold To Overseas Shipping Stevedoring
Romania's privatization agency, the State Ownership Fund (FPS), is reported to have sold its stake in bunkering company Navcom to Yemen's Overseas Shipping & Stevedoring Co.
Minoan Lines Subsidiary Orders Ferries
Minoan Lines subsidiary Minoan Flying Dolphins reportedly ordered three new high speed ferries from Australia's Austal Ships.
From VLCC Bridge To Beans Café
Joseph Hazelwood -- the man who was captain of the Exxon Valdez supertanker when it grounded against the Alaska coast has started his first month-long stint of helping…
Ship Scrapping Knocked, But Alternatives Elusive
Government and environmental leaders reportedly criticized procedures for scrapping old ships, but offered few alternatives for improving the poor safety and environmental record of the industry.
Aker Maritime Wins Combisa Oilfield Deal
Aker Maritime reportedly won a deal from Mexican consortium Combisa to build the decks of three platforms for the Cantarell oilfield operated by Mexican state oil company Pemex.
Qatar Rasgas Starts LNG Exports, Ship Leaves For U.S.
Qatar-based Ras Laffan Liquefied Natural Gas Company (Rasgas) reportedly started its first gas exports, two months earlier than planned.
Frontline Buys More Of ICB
Frontline Shipiping reportedly bought additional shares in Swedish oil shipping company ICB Shipping AB in a battle for control.
Titanic Discoverer Makes Oldest Deep Sea Find
The team who found the wreck of the Titanic reportedly discovered two Phoenician ships off the coast of Israel 2,700 years after they sank with their cargo of wine.
Repsol/YPF Deal Leaves Few Argentine Owned Oil Companies
Repsol SA has reportedly merged with YPF SA, Argentina's largest company, leaving only a handful of oil firms still in Argentine hands.
New Maritime Charter Aims to Raise Standards
Ship owners, brokers and builders reportedly signed an agreement, the Maritime Industry Charter on Quality, in an effort to raise technical, safety and environmental standards in the industry.
P&O Expands Fleet of Cruise Ships
Peninsular & Oriental Steam Navigation Co., the world's third largest cruise company, reportedly ordered five more ships at a cost of $2 billion to meet the surge in popularity for sea cruises.