seeks to resolve liquidity issues so Aker Philadelphia can continue 12-ship newbuild program

Read at OSG and American Shipping in settlement proposal

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• OSG and American Express in settlement proposal

    seeks to resolve liquidity issues so Aker Philadelphia can continue 12-ship newbuild program Read at OSG and American Shipping in settlement proposal

• Overseas Shipholding Group and Aker sign binding settlement proposal

    Overseas Shipholding Group, Inc., a market leader in providing energy transportation services, yesterday announced that it has signed a nonbinding settlement proposal with American Shipping Company ASA (AMSC) that seeks to settle all outstanding commercial disagreements between the two companies. The proposal is intended to resolve certain liquidity issues previously disclosed

• ACL to 50 barges are based Jeffboat

    begins dry barge replacement program Read at ACL to build 50 barges at Jeffboat

• Aker Philadelphia Shipyard signs non-binding proposed solution with American Express and OSG

     On 5 August 2009, Aker Philadelphia Shipyard ASA (AKPS) issued a press release disclosing, among other things, that it had become an active participant in the negotiations between its customer, American Shipping Company ASA (AMSC), and AMSC’s charterer, Overseas Ship holding Group, Inc. (OSG), to settle all of their commercial

• Xstrata boosts coal production

    Mining group Xstrata has said its performance in the third quarter was boosted by a rise in coal production. The firm said its financial performance was “strong” and that its financial position remained “robust”. Total production of coal rose by 9% from the same period a year ago. However, copper

• Hanjin Shipping to increase trans-Atlantic prices

     Hanjin Shipping said it will raise rates for all North American shipments to and from North Europe and the Mediterranean is by $250 per TEU and $350 per 40-foot equivalent unit on Dec. 1. ?? The increase applies to all cargo including that moving in dry, reefer, and special containers. American Shipper

• Tidewater raids on submarine support new business

    multi-purpose ROV and light construction vessel set for Jan 2010 delivery Read at Tidewater swoops on subsea support newbuild

• Trico Marine Tebma setting four new business contracts

    part of strategy of improving balance sheet Read at Trico Marine suspends four Tebma newbuild contracts

• Anglo investors see it, keeps on Xstrata-source –

    Miner Anglo American Plc is unlikely to make a decision for several weeks on whether to force unwanted suitor Xstrata to make a formal bid or walk away, a source close to the situation said. Anglo’s new chairman, John Parker, has resumed consulting with shareholders after the summer holidays and is

• Energy Companies Face $ 45 billion The cost in the budget

    Exxon Mobil Corp., Chevron Corp.

• EU wants to cut 20 percent of the emissions for ships

    The European Union’s Swedish presidency wants global climate talks in Copenhagen in December to set the first-ever greenhouse-gas emissions targets for airlines and shipping companies. But EU member states with large shipping sectors are fighting to block the proposal, which would force airlines around the world to cut emissions by

• ABS Nautical Systems is growing at a record pace, with short Newbuild Program

     ABS Nautical Systems, the world’s fastest-growing provider of integrated fleet management software for the maritime industry, today announced it has experienced record growth in the second half of 2009. During that period, which began with the launch of the Newbuild Program, ABS Nautical Systems has expanded their business by

• Venezuela calls on China to Boost Oil loans to 20 billion U.S. dollars

    Venezuela asked China to boost its lending to a jointly managed infrastructure development fund to about $20 billion from $8 billion, President Hugo Chavez said. “We’re trying to get to about $20 billion,” Chavez told reporters today in Caracas. “That’s our proposal. It’s being discussed now

• Nordic American: Sinking Ship or titanium tanker?

    Wall Street analysts right now don’t like Nordic American Tanker. Of the 12 professionals covering the stock, five rate it a “hold” and seven say it’s a “buy.” Not one among them thinks that NAT’s worth buying

• Nordic American Tanker Shipping Ltd. – Delivery of vessel no. 17

    Nordic American Tanker Shipping Ltd. (the “Company”) yesterday took delivery of the suezmax vessel that the Company agreed to acquire in early October 2009. The double hull suezmax vessel has been named Nordic Mistral.