Following the allegations made on December 17, 2015 by the Brazilian Public Prosecutor's Office (Ministério Público Federal - 'MPF') regarding SBM Offshore's CEO, Mr. Bruno Chabas, and a member of the Company's Supervisory Board, Mr. Sietze Hepkema…
Dubai-based port operator DP World and the Russian Direct Investment Fund have launched a joint venture to develop ports, transportation and logistics infrastructure in Russia. Signed on the sidelines of the World Economic Forum in Davos…
Fueled by liquefied natural gas, the Perla Del Caribe will join its sister ship, the Isla Bella, as the greenest containerships in the world. U.S. shipbuilder General Dynamics NASSCO today delivered the world’s second containership to be operated by liquefied natural gas (LNG)…
Southwestern Energy Co said it would lay off 1,100 employees, or nearly 40 percent of its workforce, as it slows down drilling activity in response to a prolonged slump in oil prices.Oil futures dropped to their lowest levels since 2003…
Capital Product Partners L.P. a Marshall Islands master limited partnership and an international owner of modern tanker, container and drybulk vessels today announced that its board of directors has declared a cash distribution of $0.2385 per…
Huangpu Wenchong Shipbuilding has secured newbuild contracts for a 17,000dwt asphalt carrier and a 38,800dwt bulk carrier. The eco-friendly bulk carrier is scheduled to be delivered from the shipyard by end-2017. Financial details of the deal were not disclosed…
YCMP becomes MAN Diesel & Turbo’s latest Chinese licensee At a ceremony in Zhuhai, Guangdong Province on January 16, 2016, local engine builder Yuchai Marine Power Co., Ltd. (YCMP) signed a new license agreement with MAN Diesel & Turbo for the production of MAN B&W-branded…
Cargotec Corporation agreed to acquire INTERSCHALT maritime systems AG, the specialist software and related service provider to the maritime industry.The acquisition will complement Cargotec's strategic aim of being a leader in intelligent cargo handling…
Cosco Pacific is expected to submit an improved bid for the controlling stake in Piraeus Port Authority (OLP) on Wednesday that is set to be discussed at the board meeting of the Hellenic Republic Asset Development Fund (TAIPED), reports Kathimerini…
Administration to serve the Port of Baltimore for another 30 years to 2045. The contract is expected to generate 2,500 jobs over the next three decades.Baltimore is the leading auto and RoRo port in North America, and WWL ranks as its top RoRo customer…
Energy giant Chevron has signed a preliminary agreement with China's ENN LNG Trading company to supply liquefied natural gas (LNG) from its $54 billion Gorgon LNG project in Western Australia. Chevron plans to supply a unit of ENN Energy Holdings Ltd…
Mitsui O.S.K. Lines (MOL) announced launch of the new China/West Coast India service (CIS).This new service is in addition to MOL’s existing Nhava Sheva Karachi Express (NKX) service which together will enhance coverage between ports in India and China…
Six months to the day ahead of the naming ceremony, Mein Schiff 5 was launched today at the Meyer Turku Oy shipyard. Following a construction period of 14 months, Ferdinand Strohmeier, Vice-President Operations TUI Cruises, was on hand for the so-called “floating” celebrations…
Caterpillar Inc. announced today that the company’s Board of Directors has elected Denise Johnson, currently vice president with responsibility for the Material Handling & Underground Division, as group president of Resources Industries.…
In light of the current shipping downturn and to demonstrate the government’s commitment to maintain Singapore as a global hub port, MPA will grant an additional 10% concession on port dues payable by ocean going container vessels carrying out cargo works with port stay of not more than 5 days…