Maritime Industry Top News
Wärtsilä Enjoys Good Success With Sulzer RTA84T's On Large Tankers
For the year 2000, Wärtsilä Corporation reports that 24 Sulzer RTA84T low-speed diesel engines with an aggregate power output of 713.4 MW (970,800 bhp) have been…
Passenger Ship Sinks Off Virginia, Crew Rescued
A Panamanian-flagged ship carrying a crew of 34, but no passengers, sank off the coast of Virginia on Sunday after its engine room flooded, a U.S. Coast Guard spokeswoman said.
American Superconductor Choses Alstom For Navy Project
American Superconductor announced the selection of Alstom Power Conversion Inc. of Philadelphia as its subcontractor in a program to design an ultracompact high…
Seascope Announces Results
British shipbroking group Seascope Shipping Plc expects year pre-tax profits of 1.8 million pounds, against two million last year, after contract delays impacted results.
Grounded Tanker Refloated
A grounded Norwegian oil tanker carrying 450,000 barrels of crude oil was re-floated near the Venezuelan coast and left for the U.S. Tuesday night, authorities said. The SKS Tagus, bound for the U.S.
Oil Price Dives
U.S. stocks of crude oil, gasoline and heating oil grew last week according to the Energy Department on Wednesday, which was more bearish than Tuesday's industry report, analysts said.
Tanker Rates Near Bottom
Tanker rates in the Caribbean have been free-falling all week, but the bottom is looming closer, brokers say. "They're about W307 today, but they're starting to firm up" said a U.S. broker.
$29.9M Approved For U.S. Shipbuilding Loan Guarantees
Congress has approved $29.9 million for the Maritime Loan Guarantee Program, or Title XI program, a $27.9 million increase over the President's Fiscal Year 2001 budget request.
Tanker Battle Snared In Court
Stelios Haji-Ioannou's tanker company Stelmar is poised to swoop on a fleet of modern petroleum products tankers but the deal has become ensnared by a bitter legal battle.
Spain Creates Joint European Company
Spain is in talks with several shipbuilders in Europe to create a joint European company similar to the aerospace EADS, the chairman of Spain's state holding company (SEPI) said.
Kvaerner, Saipem Sign $28M Deal
Kvaerner ASA said it has an intentional deal with Italian oilfield services company Saipem for a subsea umbilical project in the Gulf of Mexico. The deal, valued at about $28 million…
SCA Keeps Transit Fees Fixed
The Suez Canal Authority (SCA) will keep its transit fees, fixed since 1995, unchanged in 2001, it said. SCA chairman said an economic slowdown and deteriorating conditions in the shipping industry…
Houston Ship Channel Reopens Vessel Traffic
The Houston Ship Channel reopened to vessel traffic after being closed for three to four hours after a collision between a towboat and a work vessel in which one person was killed, a U.S.
Sovereign Of The Seas Docks In Fort Lauderdale After Partial Power Loss
The Royal Caribbean International cruise ship Sovereign of the Seas made an unscheduled stop at Port Everglades in Fort Lauderdale, Fla., this morning, to end its…
Hvide to Trade on Nasdaq Beginning January 2
Hvide Marine Incorporated (HMI) announced that its application for listing on the Nasdaq National Market has been approved. The Company's stock is scheduled to begin Nasdaq trading on January 2…
Coast Guard Issues Mississippi River Safety Advisory
The U.S. Coast Guard Captain of the Port (COTP), St. Louis, opened the Mississippi River to vessel traffic following the completion of dredging at mile marker 161.0…
Kuroyedov Urges Need Of Sub Upgrades
Russia's naval commander-in-chief Vladimir Kuroyedov warned the country's submarine fleet needed an urgent technological upgrade. Kuroyedov, reflecting on the Kursk…
Worldwide Offshore Rig Utilization Drops
Worldwide rig utilization decreased the week ending December 15, according to Offshore Data Services (ODS). With 560 of the world's 647 mobile offshore drilling rigs under contract…
SS&Y Indices Drop Again
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 53 points to 5,284. "Owners have been keen to get their vessels fixed well before the office…
Sunken Tanker in State of Corrosion
The Maltese-registered tanker Erika, which sank off the French coast a year ago releasing a huge oil slick, was in a state of more or less advanced corrosion, the official disaster report said.
