Maritime Industry Top News
Petrobras Yet Again Delays Details of Sinking
Brazil's state oil giant Petrobras on Friday again postponed, this time until Monday, the much-expected release of details on the causes of last month's sinking of its biggest offshore oil rig.
Shipping Officials To Discuss Singe Hull Phase Out
Shipping legislators meet on Monday to discuss a timetable for eliminating single-hulled tankers, a pollution threat to the world's coastlines. But major maritime…
Navy Keeps Quiet Regarding Sub Captain's Fate
Japanese officials on Friday were disappointed after U.S. naval officers failed to shed light on whether the captain of a submarine that sank a Japanese fishing trawler…
After Mulling Options, FGH Will Protect Its Assets
Friede Goldman Halter Inc., manufacturer of offshore equipment for the energy industry, on Thursday said it filed for protection under Chapter 11 of the U.S. bankruptcy code.
Brazilian Panamax Holds Steady
Brazilian panamax liftings were supporting an already firm Atlantic market, brokers said on Thursday. Earnings for modern Atlantic tonnage had hit the $13,000 a…
Carnival Sells Off $400 Million of 20-Year Bonds
Carnival Corp., the world's largest cruise group, said on Friday it sold $400 million of 20-year convertible bonds. The Miami-based company's bonds, which include a $100 million overallotment option…
Shaver Taps Sundial For New Barges
Sundial Marine Construction and Repair, Inc., of Troutdale, Ore., signed a contract to build two new grain barges for Shaver Transportation Co. The Shaver barges will be 273 x 42 ft.
Unitor fire protection systems for Spanish LNG newbuildings
The Ships Equipment Division of ship service specialist Unitor has won the contract to supply fire protection systems to four 93,450-grt, 138,000-cu.-m. LNG carriers…
HHI Builds Twin-Engine VLCC
Stena Vision, a unique VLCC built by Korea's Hyundai Heavy Industries Co., Ltd. (HHI) in that it features twin-engines and twin-propellers, was recently christened at the Ulsan Shipyard.
Raytheon's Results Beat The Street's Targets
The nation's third- and fourth-largest defense contractors on Wednesday beat Wall Street's first-quarter profit targets, posting strong gains in operating results…
Nabors Reports Higher-Than-Expected Earnings
Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services.
Hyundai Heavy Premieres V-Max VLCC
South Korea's Hyundai Heavy Industries launched its first V-Max VLCC or very large crude carrier at its Ulsan shipyard on Thursday. The V-Max is designed with features…
Pegasus Ceases Definitive Agreement With Friede Goldman Halter
Friede Goldman Halter, Inc. reported today that it has been advised by Pegasus Partners II, L.P. (``Pegasus'') that Pegasus no longer intends to pursue a Definitive…
Far East Holidays Cripple Shipbrokers' Forecasts
The panamax market is clouded by the prospect of Far Eastern holidays in less than two weeks, shipbrokers said on Wednesday. Brokers are unwilling to give forecasts…
General Dynamics Posts 15 Percent Jump in 1Q Profits
General Dynamics Corp., builder of nuclear submarines, tanks and destroyers, on Wednesday posted a 15 percent jump in first-quarter profits driven by strength in…
SembCorp Lands Dual Rig Contract
SembCorp Marine Ltd, a subsidiary of SembCorp Industries Ltd said on Wednesday it had secured two rig contracts from Santa Fe International Corporation worth about $570 million.
Daewoo's Financials Come Full Circle
A flood of LNG carrier orders and dollar-denominated payments skewed towards delivery have helped South Korea's Daewoo shipyard, (now known as the world's second…
Crowley Launches Refurbishment of 25 Seagoing Tugs
Crowley Liner Services has launched a major refurbishment of 25 seagoing tugs to extend their lives at least another 15 years. These U.S.-flagged, Invader-Class vessels…
Proposed Regulations Regarding Source From Activities in Intl. Waters
The Internal Revenue Service (the "IRS") has issued proposed regulations under section 863 of the Internal Revenue Code of 1986, as amended (the "Code"), providing…
The New Knowledge Brokers?
Increasing commercial pressures and structural changes in the maritime industries call for new approaches to better ensure vessel and equipment quality and improved safety…
