Shipping, shipbuilding and offshore news stories

JUNE 2001

MARINE & OFFSHORE MARKET INDICATOR LINKS

TANKER FREIGHT RATES BIFFEX OIL PRICE FOREIGN EXCHANGE RATES

WQIS offers protection against tougher state pollution laws
The largest underwriter of marine pollution liability insurance in the U.S. is now offering two new insurance endorsements to protect the marine community from increased state legislation.

Cal Dive plans $30 million boost to new semisub's capabilities
Cal Dive International, Inc. says it has reached a preliminary agreement with Amfels, Brownsville, Texas, to further enhance the deepwater capabilities of its semi-submersible vessel, the Q4000, which is in the final stages of construction.

Trico in Singapore joint venture
Trico Marine Services, Inc.y has entered into a joint venture agreement with Chuan Hup Holdings Limited (Chuan Hup) of Singapore.The two companies expect to jointly acquire, construct and operate platform supply and anchor handling vessels in Southeast Asia and other international markets.

Report calls for switching I-95 boxes to a water route
A report published recently by the Greater Bridgeport Regional Planning Agency suggests the viability of a "waterborne trucking service" to relieve congestion along the major stretch of I-95 in Fairfield County, Connecticut

RCL defers newbuilding options
Royal Caribbean Cruises Ltd. says it has deferred its options to purchase a fifth and sixth ship within its new Radiance class.

Carnival revenues up, net income down
Carnival Corporation reported net income of $187.0 million ($0.32 Diluted EPS) on revenues of $1.08 billion for its second quarter ended May 31, 2001,

Northrop Grumman extends its offer for NNS
Northrop Grumman Corporation has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc

J. Ray McDermott gets spar contract
SparTEC, Inc., a subsidiary of J. Ray McDermott, has received a $200 million turnkey engineer-procure-construct-install contract, to provide a spar platform for the development of the Devils Tower field in the Gulf of Mexico.

Keystone to order products tankers from Kvaerner Philadelphia

Canada gets a shipbuilding policy

Bender protests LSV award to Halter

Recent Navy Contracts

Keppel Smit orders tugs

Majors team for USCG Deepwater Program

Røkke tries to buy out Aker Maritime minority shareholders

Bush names Navy acquisition nominee

IMO to act on places of refuge

Piracy on rise

Cheniere plans Texas LNG terminals

Northern Offshore plans drill ship acquisition