Atlantic Rates Take a Beating
Freight for million-barrel tankers has taken a severe beating on routes from their traditional strongholds of West Africa and the Mediterranean, brokers said Friday.
Panama Container Traffic on the Rise
Container traffic handled by Panama ports rose 7.2 percent in 2000 to 1,359,640 Twenty-Foot Equivalent Units (TEUs), the Panama Maritime Authority (AMP) said on Thursday.
Low Freight Rates Cut Costs for Importers
Oil freight costs that have fallen sharply from record peaks two months ago are helping reduce energy import bills already eased by lower crude prices. Tanker market…
Newport News Reports Flat 4Q Earnings
Military ship and submarine builder Newport News Shipbuilding Inc. on Friday posted flat fourth-quarter earnings, but beat targets in part on a ramp-up in activity…
VLCC Rates Bottom Out
Tanker rates have plummeted over recent weeks, sending VLCC owners groping around for the bottom of the market, which, according to brokers, has apparently been found.
NNS Announces $100M Share Buyback
Military ship and submarine builder Newport News Shipbuilding Inc. approved a $100 million share buyback program. The amount of the buyback is equivalent to nearly…
Navigazione Montanari Orders Two Ships
Italy’s Navigazione Montanari SpA has reportedly ordered a pair of petrochemical carriers from Hyundai for $25 million, for delivery in 2002 and 2003. Montanari…
Report: Diesel Power Key to Maritime Industry
Diesel powers the American economy -- including almost the entire commercial maritime fleet. This is the conclusion of an extensive study conducted by Charles River…
Kirby Corp. Announces Record Results
Kirby Corporation reported that for the fourth quarter ended December 31, 2000, net earnings were a record $9,088,000, compared with $3,974,000 for the 1999 fourth quarter.
Stewart & Stevenson Partners With Mercury
Stewart & Stevenson, a leading manufacturer, distributor and provider of service for industrial and energy related equipment, and a manufacturer of medium tactical vehicles for the U.S.
Noble Drilling Reports Results
Noble Drilling Corporation's reported net income increased 143 percent for the fourth quarter of 2000 to $51.9 million, or $0.38 per diluted share, on operating revenues of $241.2 million…
Texaco Announces Discovery Off Australia
Texaco announced two new gas discoveries in the Northern Carnarvon Basin, offshore Western Australia by joint ventures comprising Texaco, Chevron, ExxonMobil, Shell and BP.
Twin Disc Expands Marine Presence In Japan
Twin Disc is forming a majority-owned joint venture with Niigata Engineering Company, Ltd., of Tokyo, Japan. Twin Disc has had a long-standing and mutually successful…
Horizon, Cal Dive Form Joint Venture
Horizon Offshore, Inc. has entered into a letter of intent with Cal Dive International, Inc. (CDI) to conduct reeled pipelay projects in deepwater areas of the U.S. Gulf of Mexico.
Marex To Exhibit At IBEX
Marex.com, Inc. will have a significant presence at the International Boatbuilders' Exhibition and Conference (IBEX), scheduled for February 7-9 at the Greater Ft.
SEACOR To Acquire Gilbert Cheramie Boats, Inc.
SEACOR SMIT Inc. signed a definitive agreement to acquire Gilbert Cheramie Boats, Inc. and related companies. The transaction contemplates purchase consideration…
Evac, ZENON To Cooperate On Marine Waste Water Treatment
Evac, a leader in vacuum sewage technology, and ZENON Environmental Inc., a leader in providing advanced technology products and services for water purification…