CMA CGM has finally made its all-cash voluntary conditional general offer for all the outstanding shares of Neptune Orient Lines (NOL). This follows approvals by the relevant regulatory authorities in the European Union and China. The offer price is SGD 1…
After last week's media reports that an undisclosed party was looking to buy Singapores offshore marine company Otto Marine Limited, the company said that it received a proposal from RHB Securities Singapore Pte Ltd (RHB). RHB is the financial adviser to the potential offer…
DP World has won a 50 year concession for the development of a greenfield multi-purpose port project at Posorja, Ecuador, 65 kilometres from the country’s main business city of Guayaquil. The $500 million initial investment (Phase 1) will include the purchase of land…
DP World has won a 50 year concession for the development of a greenfield multi-purpose port project at Posorja, Ecuador, 65 kilometers from the country’s main business city of Guayaquil.The $500 million initial investment (Phase 1) will include the purchase of land…
'THE Alliance' forged by six of the world’s largest multi-services shipping companies would challenge the dominance of global giants such as Maersk Line and Mediterranean Shipping Co. (2M). The new partnership, is an expanded alliance of G6 and CKYHE…
When sanctions on Iran were lifted in January, Russia might have expected to be near the front of the queue for business opportunities. Moscow, after all, was one of Tehran's oldest allies and is now its partner on the battlefield in Syria.On…
The European Central Bank has urged German state-owned lender Bremer Landesbank to shore up its capital resources against non-performing loans in shipping, three sources familiar with the matter said.Bremer (BLB) needs another 700 million euros ($800 million) in equity…
Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment.Adani…
The Los Angeles Board of Harbor Commissioners has approved a $1.17 billion fiscal year (FY) 2016/17 annual budget for the Port of Los Angeles. As in years past, budget allocations closely align and support the four key objectives of the Port’s 2012-2017 Strategic Plan…
The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs…
China COSCO Shipping Co. Ltd (China COSCO Shipping) officially inaugurated the company “COSCO shipping Financial Holdings Limited (COSCO shipping Financial) in Hong Kong. It was former China Shipping (Hong Kong) Holdings, reports Sinocast…
The Middle East container shipping group United Arab Shipping Co. (UASC ) met with shareholders at the company's corporate office in Dubai to discuss a possible combination with German rival Hapag-Lloyd, but no decision was finalized. According to sources…
Hapag-Lloyd launches “THE Alliance” with old and new partners – Customers benefit from additional sailings and direct connections. The container shipping industry is undergoing a period of reorganization – and Hapag-Lloyd is assuming a leading role in the process…
The Liberian Registry announced the introduction of a range of cost-saving provisions which it said will help mitigate the burden and financial strain currently being placed on owners and operators of Liberian-flag vessels during the sustained economic downturn in the maritime and offshore sectors…
Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it was notified by the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the…