LR Goes Navy
Cracking new markets, U.K. ship classification body Lloyd's Register launched Naval Ship Rules, a move expected to result in cheaper, better warship.
Aalborg Buys Marine Boilermaker
Aalborg Industries bought Dutch marine boilermaker Wiesloch Marine & Industries/Wiesloch Beheer.
R&B Falcon Barge Destroyed
R&B Falcon Corp. reported that one of its inland drilling barges was destroyed in a blowout and fire at a natural gas well in southern Louisiana. The loss of the…
Fleet Finance Negotiations Continue
Ukraine's Ukrrichflot is reported to be negotiating a new loan to build five ships. The company owns the country's largest fleet, with 68 passenger ships and 248 freighters.
Score One For The Crews
In a good news/bad news ruling, a London judge ruled in an appeal case that a crew's rights to wages from the proceeds of a vessel's sale took precedence over a bank holding a mortgage over the ship.
OMI Wants Out
OMI Corp. reportedly plans to withdraw from its Singapore joint venture with Heidenreich Marine Ltd. after not being able to agree on terms to join with International Product Carriers Ltd.
Oil markets added to 18-month, in part driven by OPEC output cuts which burrowed further into surplus inventories in major Western consuming countries. On Thursday…