The Athens, Greece-based Safe Bulkers Inc. (SB) on Thursday reported a loss of $17.8 million in its first quarter. The shipping company posted revenue of $24.7 million in the period. It has a loss of 25 cents per share. Losses, adjusted for non-recurring costs…
Malaysia's Petroliam Nasional Bhd (Petronas) and Japanese oil company JX Nippon Oil & Energy (JX NOE) have signed an agreement for the sale and purchase of equity in Petronas LNG 9 Sdn Bhd (PL9SB), say local media. Under the agreement, JX NOE will acquire a 10% stake in PL9SB…
DP World Group Chairman and CEO, Mr Sultan Ahmed Bin Sulayem has met the President of Somaliland, Mr Ahmed Mohamed Mahamoud, during a visit to the country following the signing of a term sheet agreement in Dubai earlier this month to invest in the multi-purpose Port of Berbera…
On 10 May 2016 the dividend of Royal Boskalis Westminster N.V. (Boskalis) for the financial year 2015 has been determined at EUR 1.60 per ordinary share. This dividend shall be distributed in the form of ordinary shares, unless a shareholder opts to receive the dividend payment in the form of cash…
Korea Times says that Hyundai Merchant Marine (HMM) will join a new global shipping alliance, as the cash-strapped shipper has successfully reached a debt-rescheduling deal with its bondholders. HMM announced that it has reached a resolution…
CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has terminated the acquisitions of Sinopacific Offshore & Engineering (SOE), the offshore unit of Sinopacific Shipbuilding.CIMC Enric…
Coretrax, leading engineered servicing company for wellbore clean and abandonment, has secured cost savings of nearly £10 million in rig time for UK operators. Focused on improving operational efficiencies and saving rig time in wellbore clean up and abandonment operations…
Höegh LNG Partners LP in their Preliminary Financial Results for the Quarter Ended March 31, 2016 reported a net loss of $1.0 million for the first quarter of 2016 compared to operating income of $5.0 million and net income of $2.6 million for the first quarter of 2015…
Oscar Spieler-led LNG shipowner Golar LNG Ltd. (GLNG) on Tuesday reported a loss of $80.1 million in its first quarter. The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share…
The Sustainable Shipping Initiative (SSI), a coalition of companies from across the global shipping industry, has announced the appointment of Ian Petty as its first ever General Manager. Petty will take responsibility for the day-to-day…
A/S Dan-Bunkering Ltd. announced that Kasper Bækkegaard Christiansen started as Bunker Trader in the trading department in Middelfart, Denmark, as per May 1, 2016. Christiansen commenced his career as a Bunker Trader with Dan-Bunkering in the company’s head office in Middelfart…
The PALFINGER Group has signed today the acquisition of 100 per cent of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group. The seller is the Norwegian private equity fund Herkules. Harding is one of the…
Today, Femern A/S, a subsidiary of the Danish state-owned Sund & Bælt Holding A/S, and the Fehmarn Belt Contractors joint venture, consisting of Royal Boskalis Westminster N.V. (Boskalis) and Van Oord, signed the previously announced contract…
Singapore Shipping Corporation(SSC)'s net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year. Revenue rose 29.4 per cent to US$44.9 million, compared with the same period a year earlier…
Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears. According to a Press Trust of India report, these seafarers…