Potential tragedy was averted early Wednesday morning when seven people were rescued from a sinking White Marlin Open participant around 30 miles off the coast of the resort by other boats competing in the tournament that were in the area. The Coast Guard received a report around 5:30 a.m. on Wednes
Knightsbridge Tankers Limited (the “Company”) reports net income of $7.9 million and earnings per share of $0.46 for the second quarter of 2006. The average daily time charter equivalents (“TCEs”) earned by the Company’s five VLCCs was $42,800 compared with $54,300 in the immediately preceding quart
Statoil has started drilling an appraisal well in the Tornerose prospect in the Barents Sea. The Polar Pioneer rig commenced drilling on Thursday 10 August. The well is being drilled to assess the extent of the petroleum reserves in the prospect. “This appraisal well is important,” says Tim Dodson,
Tidewater Inc. (NYSE:TDW) announced today that it has entered into a definitive agreement with Crosby Marine Transportation, LLC to sell 14 of its offshore tugs, 12 of which currently constitute Tidewater’s total domestic fleet of offshore tugs. In addition, two tugs scheduled to return from interna
Shanghai International Port (Group) Co., China
It took longer than expected to complete delivery, but Mirgab V’s owners are delighted with their new “mega-yacht,” Burger Boat officials said Tuesday. The 144-foot, tri-deck vessel is in Newport, R.I. It will be loaded, along with several other luxury yachts, on a Dockwise Yacht Transport carrier s
Oil traders and refiners scrambled on Thursday to move prompt crude oil and product supplies from Asia to the U.S. West Coast, anticipating tighter markets with the closure of BP’s massive Prudhoe Bay oilfield. The shipments, including at least one cargo out of South Korean storage that could be in
Mitsubishi Heavy Industries, Ltd. (MHI) has completed construction of one of the world’s largest testing facilities for ultra heavy-duty compressors at its Hiroshima Machinery Works in Hiroshima prefecture. The completion ceremony was held today. The new facility can accommodate testing of compresso
On August 10 2006 the Nizhny Novgorod Teplokhod JSC (MNP Group) laid down the hull of the third dry cargo ship of 164-
Coast Guard Cutter Eagle, “America’s Tall Ship,” is scheduled to arrive 10 a.m. Friday in Boston. The Eagle will offer free public tours Friday and Saturday while moored at the Integrated Support Command, located at 427 Commercial St. Tours of the 295-foot three-masted sailing vessel will be availab
TBS International Limited (NASDAQ: TBSI), an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk transportation services, announced today that it has reached an agreement to sell the M.V. Dakota Belle. The M.V. Dakota Belle is an 18,576 dwt m
China National Offshore Oil Corporation has signed an agreement with the Chinese subsidiary of Canada’s Husky Oil Limited to explore deepwater areas of offshore China, CNOOC announced Wednesday. The Hong Kong- and New York-listed company said the targeted areas include three blocks; one in Eastern S
Hanjin Shipping announced its earnings for the first half of 2006. The total sales marked KRW 2.92 trillion and operating income KRW 53.1 billion. The US dollar revenue rose 6.2% driven up by the steady rise in the container volume. The Korea Won revenue also increased 0.8% year-on-year, a noteworth
The Port of Corpus Christi plans to commit $83 million to develop a new container terminal along the Gulf Coast. The Port of Corpus Christi is in negotiations with Dragados-S.P.L. in Madrid, Spain, toward a definitive construction and long-term concession agreement for the La Quinta Trade Gateway Co
