Key Mideast Markets Surge On Erika Factor
Mideast-Far East crude oil tanker freight rates leapt skywards for the second day in a row as the Erika-effect took hold, shipping brokers said on Jan. 21. Japan…
Malta Drydocks Gets New Leader
Malta last Wednesday appointed the head of Malta Shipbuilding as chairman of Malta Drydocks, pointing to closer cooperation between the two loss-making firms. The…
Marine Drilling Reports Fourth Quarter Results
Marine Drilling Companies Inc. reported fourth quarter 1999 net income of $2.5 million, or $0.04 per share, on revenues of $44.8 million, compared to net income of $7.0 million…
Manitowoc Reports Record Results For 1999
The Manitowoc Company, Inc. reported record financial results for both the fourth quarter and full year ended December 31, 1999. This was the company's fifth year…
MSC Selects Autoships' Systems
Based in Washington, D.C., Military Sealift Command (MSC) has chosen Autoship Systems' onboard stability program Autoload for their vessels. Autoload allows vessel…
Divers Plug Holes In Tanker
Divers have plugged most of the leaks in a tanker carrying heavy fuel, which sank off the United Arab Emirates, the UAE coastguard said. Hassan Malallah said a little…
Take That! Carnival Keeps NCL War Alive
Carnival Corp. revived a war for control of Norway's NCL Holding last Thursday with plans for a $1.3 billion offer, topping a bid by Malaysia's Star Cruises. "Carnival…
Inspection Groups Mull Changes
Ship inspection organizations, criticized in the wake of the Erika oil spill, are considering changes to their procedures. A special meeting has been called to review…
TotalFina's Spill Costs Rise
The oil spill off France from a chartered tanker has so far cost TotalFina more than $123 million, according to Chairman Thierry Desmarest. Desmarest announced Jan.
TotalFina Tightens Tanker Regulations After Erika Spill
Oil giant TotalFina, which chartered the ill-fated oil tanker Erika, tightened its policy on chartering older tankers. However, company officials stressed that a new age limit on large ships…
Molasses Tanker With Same Flag, Class As Erika Detained In France
A 27-year-old molasses tanker escorted to Falmouth in the U.K. after safety defects were found was flagged and classed by the same bodies responsible for the Erika…
Group Of 41 Oil Majors To Supply Tanker Status Reports
A group of 41 oil majors will make their tanker inspection reports available to port examiners in Europe. They also aim to ensure higher standards for their shared…
World Piracy Jumps 40% In 1999
Pirate attacks worldwide surged 40 percent in 1999 as economic and political troubles in Indonesia spurred a dramatic increase in incidents in Southeast Asia. The…
Owner To Shippers: Shape Up Or Face Draconian Laws
Oil companies and the tanker industry deserve to be hit by Draconian legislation if they do not clean up their act, according to a major shipowner. A series of simple…
Shipping Markets Lag Behind Despite Economic Upswing
Global economic activity proved to be stronger that expected in 1999, according to the monthly report by R.S. Platou Shipbrokers a.s. Most crisis-ridden Asian economies recovered strongly…
Global Drilling Expected To Bounce Back In 2000
World drilling activity for oil and gas fell 24 percent in 1999 from 1998, but levels should bounce back in 2000, IHS Energy Group said. "In 2000, I expect levels to reach at least those of 1998…
Spirit Energy Partners To Acquire Assets of Tana Oil and Gas
Unocal Corporation's Spirit Energy 76 unit announced its Spirit Energy Partners, L.P., affiliate has agreed to acquire substantially all the Gulf of Mexico shelf…
Global Divers Completes Complex Pipeline By-Pass Project
Global Divers & Contractors, Inc., a wholly owned subsidiary of Global Industries, rerouted a 20-in. pipeline through an in-line booster pump station platform this…
Spirit Energy 76 Discovers New Gas Field
Unocal Corporation's Spirit Energy 76 unit said a wildcat exploration well in 240 ft. of water on its 100-percent owned Ship Shoal block 295 offshore Louisiana has…
BP Amoco and Arco Plan Combination
BP Amoco and Atlantic Richfield Co (ARCO) said they intend to take the next formal step towards closing the combination of the two companies. They accordingly propose…
