Maritime Industry Top News
Offshore Comeback At Hand
U.S. oil drillers expect weaker or flat first quarter earnings but see revenues picking up later in the year as recent high oil prices trickle down to the service sector.
Stelmar Eyes Cyprus Bourse
Tanker firm Stelmar Marine Holdings Ltd. officially applied on Wednesday for listing on the Cyprus Stock Exchange. The company was established in 1992 by Greek Cypriot…
CP Ships To Acquire Christensen Canadian African Line
CP Ships has reached agreement with Thor Dahl Shipping AS of Norway to acquire Christensen Canadian African Line (CCAL). The transaction is expected to be completed by the end of April.
Finnish Company Exits Masa-Yards Negotiations
The Finnish group bidding for Kvaerner's Masa-Yards shipyards has decided to halt negotiations on the sale, due Carnival Corp.'s decision not to take part in the bid.
Romanian Exchange To Auction Ship
Romania's Maritime and Commodities Exchange (BMMMC), in the Black Sea port city of Constanta, will hold an auction to sell a 2,600 dwt ship this month. The auction…
Online Bulk Shipping Exchange Will Transform Market
An online shipping exchange being set up by two of the world's biggest oil firms, a leading agrifood multinational and top shipbroker will transform the way traditional shipping markets work…
Caterpillar Buys Marine Engine Company
Heavy equipment maker Caterpillar Inc. bought closely held Sabre Engines Ltd., a U.K.-based company that specializes in high-performance marine diesel engines. Terms of the deal were not released.
Friede Goldman Halter Finalizes $40 Million In New Contracts
Friede Goldman Halter, Inc. announced that it has recently finalized six new contracts with a total value of approximately $40 million. · The Venezuelan government…
Danzas Gets Stake In Finnish Logistics Group
Deutsche Post unit Danzas AG has acquired a 49 percent stake in Finnish logistics group Kelpo Keljetus Fi Oy, a wholly owned subsidiary of Finland Post Ltd., Danzas officials said.
Luka, Intereuropa Call Off Merger
Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government demanded the right to veto any management decisions in the new firm.
Finnish Ports Get Back To Normal As Strike Ends
Traffic at Finnish ports and on the road was returning to normal Monday after a five-day strike by around 10,000 Finnish transport workers ended late March 2, officials said.
South Australian Ports Sale Faces Political Storm
The South Australian government expects strong bidder interest in its planned $120 million sale of the state's main ports, but the privatization is facing a political storm.
Hvide CEO Hospitalized
Hvide Marine Inc. chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery Monday. Hvide, which provides marine support and transportation services…
P&O Plans Associated Bulk Carriers IPO
An initial public offering of Associated Bulk Carriers on the Oslo stock exchange is expected to take place later this year, Peninsular and Oriental Steam Navigation Co. officials said.
French Government, TotalFina Targeted In Erika Protest
Thousands of protesters from western France marched through Paris on April 1 to demand tighter shipping laws in the wake of the Erika oil tanker spill, which devastated parts of their region.
Planned Tanker Ban Could Put European Oil Supply At Risk
European plans drawn up in the wake of the Erika accident to crack down on aging tankers could endanger shippers' ability to supply oil to the continent, shipping analysts said.
Tanker Rates React To OPEC
Tanker rates to the West firmed as charterers and operators took on board the implications of OPEC's decision to raise oil output, brokers reported. Rates of W68.5 ($11.50 per ton) for 280…
USCG Sets Safety Zone Around Shell Rigs
The U.S. Coast Guard will establish safety zones around seven of Shell Oil's Gulf of Mexico high-production oil and natural gas platforms, at the company's request…
BDI Up 9
The Baltic Dry Index (BDI) rose nine points to 1,660, the Baltic Panamax Index gained four points to 1,557, the Baltic Handy Index firmed six points to 1,157, and…
OPEC Strives For $22-$28 Barrel
Venezuelan Energy and Mines Minister Ali Rodriguez said that OPEC had agreed to defend a price band of $22 to $28 per barrel for its basket of crudes in a bid to stabilize prices.
