Bergesen Reports Strong Profits
Norwegian shipping group Bergesen reported record first-quarter profit on Tuesday, boosted by high tanker rates, and said it expected operating profit to rise substantially this year.
Cammell Laird Receives An Offer For Teesside
Cammell Laird, which is in receivership, has had an offer to buy its Teesside yard in northeast England, giving a glimmer of hope for workers fearing further job cuts.
Lukoil Subsidiary Gets Stake In North Sea Shipping
Russia's LUKOIL-Arctic-Tanker, a LUKOIL shipping subsidiary, has acquired a controlling stake in North Sea Shipping in Archangelsk for an undisclosed price. The newly-acquired company…
The Rich Get Richer
Shipping magnate John Fredriksen is Norway's richest man, his tanker company Frontline is the world's biggest, and now his week-old gas transport venture Golar…
Damaged Tanker Impounded
An oil tanker that blew up in the Black Sea this month killing two crew was impounded by Romania on Tuesday after its Bulgarian owners failed to pay a rescue operation bill of almost $1 million.
BP Chief: Bush Plan Will Not Spur More E&P
BP Plc Chief Executive Sir John Browne described President George W. Bush's energy plan as "comprehensive" but said it would not make crude oil any cheaper and would not spur BP to step up its U.S.
UAE To Ban Bad Vessels
The United Arab Emirates will soon implement a ban on vessels carrying the flags of certain countries from entering its territorial waters. The decision follows…
Container Vessel Sold For $11.8M
Keppel Telecommunications and Transportation Ltd. sold a container vessel for $11.8 million to Turkish buyers. The MV Kimanis is a 923-TEU built in 1993 and was…