News

U.S. Transportation Secretary Ray LaHood announced Tuesday that the Maritime Administration has struck a deal with NASA to convert a former space shuttle

Overseas Shipholding Group Inc. is running out of cash and must renegotiate a loan agreement as an industrywide slowdown and rejection of a federal debt

SINGAPORE–Keppel Corp. Ltd. (BN4.SG) Tuesday said unit Keppel FELS Ltd. has signed a US$315 million contract to build a semi-submersible accommodation

(Bloomberg) — D/S Norden A/S, Europe’s biggest commodity shipping company, is poised for a second consecutive quarterly profit after concluding

Aker Philadelpha Shipyard (Oslo: AKPS) breathed a huge sign of relief today as it signed a contract with Jacksonville-based Crowley Maritime Corporation for

ARLINGTON, Va.-Construction for two new research ships funded by the Office of Naval Research (ONR) officially got underway with a keel-laying and dedication

HOUSTON – Caribbean nations will come together for the first time to specifically address emergency response protocols for offshore deepwater drilling

Chevron Corp. (CVX) may end up getting a better deal Down Under than it bargained for. Chevron owns a 47% stake in Australia’s 43 billion Australian

HONG KONG–China Rongsheng Heavy Industries Group Holdings Ltd. said it has decided to withdraw its CNY2.15 billion (US$336 million) bid to buy a Chinese

(Bloomberg) — Daewoo Shipbuilding & Marine Engineering Co. won a 2.22 trillion won ($1.96 billion) order to build five fixed platforms as rising

HOUSTON–Golden Pass Products LLC, a joint venture between Exxon Mobil Corp. (XOM) and Qatar Petroleum, is asking federal authorities for permission to

In the heat and sunshine of a clear summer day, hundreds of cadets stood at attention to welcome the new superintendent, Rear Admiral James A. Helis, to the

Dramatic images of the Hong Kong-flagged bulk carrier MV Ocean Breeze which ran aground yesterday on Llo-Lleo’s beach, near the port of San Antonio,

Thoresen Thai Agencies Pcl plans to almost double its dry-bulk shipping fleet in three years as a focus on Europe-U.S. cargos shields it from tumbling rates

The Arctic Ocean’s ice cover is shrinking at a record pace this year after higher-than-average temperatures hastened the annual break-up of the sea ice.

(Bloomberg) — The flow of European gasoline to the U.S. is poised to advance to the highest in almost 10 months, according to a survey of people directly

DryShips Inc.’s (DRYS) second-quarter loss narrowed as revenue improved and vessel-impairment expenses weighed on year-ago results. However, shares fell

WASHINGTON –A federal jury in Washington, D.C., today returned guilty verdicts against Sanford Ltd., a New Zealand fishing company, on six counts of

(Bloomberg) — Norway needs to simplify rules for offshore oil rigs and reduce labor costs to support efforts to increase oil and gas production in

Increased Asian imports of West African oil may lift demand for very large crude carriers as daily rates stay below $15,000, according to the Baltic and