Maersk Drilling, a unit of Danish conglomerate A.P. Moller-Maersk, will cut up to 140 jobs in Norway due to lack of work for two rigs, the drilling company said.The jack-up rigs Maersk Gallant and Maersk Inspirer are expected to have finished…
Liquefied Natural Gas Limited announced staff reductions resulting in a more streamlined organisation having a lower, more sustainable fixed cost base. These changes reflect a combination of redundancy and restructuring measures while keeping…
State-run Korea Development Bank and other creditors are expected to extend their conditional debt rescheduling program for Hanjin Shipping Co. to stay afloat, reports Korea Herald. This move will give the struggling shipping company enough time to cover liquidity shortage on its own…
Healthcare and medical solutions company Iqarus has appointed Lyall Dochard as Chief Financial Officer to lead the company’s financial and governance strategy as it continues its rapid global growth in remote and difficult operating environments…
Charles Gray, Managing Director at the Armitt Group, Rob McKay, Director at Sherrington Associates and Chris Wainwright, MD of the Beech Group, have all entered a triathlon in Liverpool to raise money for the Royal National Lifeboat Institution (RNLI)…
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to build three Trailing Suction Hopper Dredgers (TSHDs). The TSHDs are worth about S$100 million in total…
ABS Group anticipated the update to Circular A-123 from the United States (US) Office of Management and Budget (OMB) requiring US executive departments and agencies to adopt enterprise risk management (ERM), and has expanded its suite of ERM…
CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital. Monday July 18 marked the last…
The Mawingu Express, Maersk Line's direct service from India to Kenya, offers the fastest transit times in the market and better port coverage to bring business closer to East Africa. 'Through our global connections coupled with superior customer care and market expertise…
Barco has announced the departure of its Chief Financial Officer, Carl Peeters, who has decided to pursue a new professional opportunity. Ann Desender, currently Vice President Finance & Control will succeed Carl as CFO for Barco. This change will become effective as of September 2016…
Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals. Besides the Business Combination Agreement (BCA) between the two companies…
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has announced that the company has agreed with Danish Ship Finance, to amend certain financial covenants and terms to its existing credit facility with an outstanding balance of US $40…
Philly Shipyard, a U.S. commercial shipyard constructing vessels for operation in the Jones Act market has announced acash dividend to be paid by PHLY. The schedule is as follows: Dividend amount: USD 0.25 per share…
On July 15, 2016, Victoria International Container Terminal (VICT) signed a syndicated loan facility worth AUD 398 million (approximately USD 300 million) with seven leading global financial institutions, namely: Citibank N.A., KFW IPEX-Bank…
Hyundai Merchant Marine (HMM) will start the process to appoint a new chief executive officer (CEO) when Hyundai Group loses control on Aug. 5, reports Korea Times quoting un-named industry sources. The challenged shipper will begin a new chapter in its 40-year history…