News

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

(Bloomberg) — Nils S. Andersen, chief executive officer of A.P. Moeller-Maersk A/S, talks about second-quarter profit reported today and the outlook for

Danish Scan-Trans Holding A/S and U.S. based Intermarine, LLC announced a stock transaction today. The two companies will create an unparalleled platform for

Louisiana-based Harvey Gulf International Marine announced to reporters recently that it has signed long term charters for 3 of its LNG powered offshore supply

CANBERRA–Chevron Corp. (CVX) is unlikely to seek protection against swings in the Australian dollar that have intensified cost pressures at its flagship

Located 4000 meters off the northern Portuguese shoreline in approximately 50 meters of water, a pioneering piece of floating machinery is delivering up to 2MW

Scheldepoort Repair & Conversion Yard has been awarded a contract to convert the jack-up drilling rig ‘Shelf Explorer’ into offshore hotel

(Bloomberg) — Growth in Hamburg is stalling as Europe’s fiscal crisis spreads into China and other Asian countries, threatening the recovery of

Vancouver-based naval architecture firm Robert Allan Ltd announced today the delivery of the Al Fenci and Al Durrah, the first two new RAmparts 3200 tugs, to