World Tanker Fleet Grows Slightly
increased by 1.4 million dwt to 311 million dwt during January to end June 2001. The Suezmax fleet increased by 1.7% whereas the VLCC fleet had a net change of 0.16%.
Oil Prices Are Down … But Are They Out?
U.S. oil prices fell Monday on renewed concerns that the OPEC cartel's recent cut in production would not be enough to counter the impact of a global economic slowdown. U.S.
Evergreen Marine Sales Down 9%
Taiwan's Evergreen Marine s made sales of T$1.55 billion in June, down 9.0 percent from the same month a year earlier. That brought accumulated sales in the first six months of 2001 to T$8.88 billion…
Hyundai Logistics Plans To Own Freighter
Hyundai Logistics Co. Ltd., one of South Korea's top three delivery companies, planned to operate its own freighter in 2007 for use between Korea, China and Japan, Reuters reported.
Alstom Wins French Navy Contract
Alstom SA secured a contract from military shipbuilder Direction des Constructions Navales to help build two military transport vessels for the French armed forces.
Imtech Wins Defense Contract
Internatio-Mueller NV said its technology unit Imtech had won an order worth $35 million from British shipbuilder Swan Hunter. Imtech will provide technical systems…
Australian's Blow Up Whale Of A Problem
Australian police have blown a hole in the rotting body of a whale that had become a troublesome attraction for tourists watching sharks feed on its massive carcass.
Immigrants Try Floating In On Inflatable Mattress
Two Lithuanian illegal immigrants tried to float to Britain on an inflatable mattress but were spotted at sea and taken back to France. The two men were sighted…
ISH Put On Watch After Announcement
Standard & Poor's placed its ratings for International Shipholding Corp. (ISH) on CreditWatch with negative implications. The CreditWatch placement reflects the…
P&O Princess Cruises Assigned Negative Outlook
Fitch, the international rating agency, has affirmed the Senior Unsecured 'BBB+' and Short-term 'F2' ratings of P&O Princess Cruises (POPC), the world's third largest cruise operator.
Malaysian Port To Receive $263M Infusion
A Malaysian port 30 percent owned by Danish shipping giant Maersk Sealand is expected to receive a $263 million government loan for expansion, Reuters reported.
Fire Guts Ship
A Sao Tome-registered ship carrying charcoal from Somalia to a Gulf Arab state was gutted by fire while sailing near Yemen's Soqatra island in the Arabian Sea, Reuters reported.
Weather Shuts Down Sydney
Strong winds and high seas forced authorities to close Sydney's port to passenger and cargo ships on Saturday. Winds of up to 59 mph lashed the coast of New South Wales state…
Crewman Indicted On Smuggling Charges
A crewman aboard a Greek tanker which docked in San Francisco last weekend has been indicted on smuggling charges after authorities found hundreds of pounds (kilograms) of cocaine aboard the vessel.
ANS Crude Sold At Discount
A cargo of Alaska North Slope (ANS) for September delivery was sold to a California refiner at a discount of $2.75 a barrel to September West Texas Intermediate (WTI) crude.
GOM Rig Utilization Sags
Offshore rig utilization in the U.S. Gulf of Mexico hit a 13-month low during the week ending July 27, according to ODS-Petrodata Group. U.S. Gulf of Mexico rig…
Containership Volume To Slow
The giant containerships, which act as a floating conveyor-belt for international trade, are struggling to maintain volumes in the face of global slow down, shipping analysts said.
Kursk Rescue Hits Snag
The Russian navy said a plan to raise the Kursk nuclear submarine from the bottom of the Barents Sea hit a snag when deep-sea divers had trouble cutting through the craft's hull.
FMC Sets Hearing Date For Florida Tug Squall
On August 8 and 9, 2001, the Federal Maritime Commissioner's Investigative Officer will conduct hearings to develop the issues set forth in the Commission's Order…
Petrobras Announces Four Oil Field Finds
Brazil's state oil giant Petrobras said on Thursday that it had made four "important" new oil finds that should boost its oil reserves by about 1.4 percent. Petrobras…