The cyclical nature of the oil business has blossomed into full bloom during the latter part of 2000, as a host of political power plays have sent oil prices on a virtual rollercoaster, albeit mostly up, helping to send it soaring as high as $37/barrel at the time of this writing.
On December 28, 1973, National Steel and Shipbuilding Company (NASSCO) of San Diego, Calif., delivered the S/S Coronado, a 38,300-dwt tanker to Margate Shipping Company of Philadelphia, Pa. The S/S Coronado, the first of three NASSCO- designed
The General Electric Credit Corporation announced it has purchased for $120,000,000 the 225,- 000-dwt tanker T.T. Stuyvesant, and that the vessel has been initially chartered to the Standard Oil Company of Ohio (SOHIO) to transport Alaskan oil.
Ecomarine USA and OMI Petrolink Corp. have formed a joint venture, Ecomarine Gulf, to provide advanced technology and services for marine pollution control, oil spill response, and marine monitoring and mapping in the states bordering the Gulf of Mexico.
The Maritime Subsidy Board has determined the fair and reasonable price and constructiondifferential subsidy (CDS) rates for the reconstruction of two 89,700-deadweight-ton tankers, the Chestnut Hill and Kittanning, operated by Chestnut Shipping Co.
The Port of Singapore Authority has signed a contract for Imodco to design and engineer a Single Point Mooring terminal system to be anchored in 32 meters (about 105 feet) of water in Singapore Harbor. The single grade buoy will be capable of mooring fully loaded tankers of up to 320,