Kvaerner Rejects GEC Bid For Govan
Kvaerner, which announced in April it was moving out of shipbuilding, reportedly rejected a bid by General Electric Co.'s shipbuilding and defense unit Marconi to buy its Govan shipyard.
Nigeria Cancels Award Of 16 Oil-Prospecting Blocks
Nigeria's government reportedly cancelled the award of 16 oil-prospecting blocks by the military government, which stepped down in May.
Analysts See Oil Glut Over By End Of September
OPEC oil exporters are reportedly on course to wipe out surplus inventories of crude oil and petroleum products by the end of September, even before the start of peak winter demand.
Tanker Scrappings Up As Second Quarter Demolitions Rise
Tanker scrapping reportedly shot up while the disposal of bulk carriers diminished as the total deadweight tonnage of ships sold for demolition rose by five percent…
Dutch Shippers Pakhoed, Van Ommeren To Merge
Pakhoed NV and Koninklijke van Ommeren reportedly plan to merge into a European powerhouse with $3.43 billion in annual sales.
Panamax, High Spec Handymaxes Ship Prices Up
Panamax dry bulk carrier ship sales prices reportedly continued to improve last week and also climbed for well equipped Handymax ships.
OOCL, Wan Hai To Start Direct China-Mid East Route
Orient Overseas Container Line (OOCL) and Wan Hai Lines Ltd. will reportedly operate a joint direct container shipping service directly between North China and the Middle East.
Russian Seaborne Crude Exports Down In June
Crude oil exports from the four leading ports in the former Soviet territories reportedly slipped to 1.28 million bpd in June from 1.445 million bpd in May.