Today, Kvaerner and its sub-contractors cut the first steel plates for the utility- and living quarters (ULQ) topside for the Johan Sverdrup field. The topside construction starts on schedule and budget. The Johan Sverdrup development is being executed with a high degree of Norwegian value creation…
The Piraeus Port Authority (PPA) has released its annual financial statement for 2015, showing post-tax profits of 23.8 percent. Earnings before taxes amounted to € 9.772.290,19 for the year ended 31.12.2015 against €8.891.464,98 in 2014 showing an increase of 9…
France is an attractive investment location for DP World’s projects related to infrastructure development, port centric development, distribution and export hubs, rail freight, customs, and other logistics topics, said DP World Group Chairman and CEO Sultan Ahmed bin Sulayem…
Despite historically low rates carriers are unlikely to be killed off as creditors and governments will step in, says Drewry Shipping Consultants Limited. Recent news stories, backed-up by anecdotal stories told to Drewry, report that carriers…
China Shipping Container Lines Co. posted a net loss of 2.9 billion yuan ($448.5m) in 2015, compared with profit of 1.04 billion yuan in 2014, the nation’s second-biggest container shipping company said in a statement. China Shipping in January had forecast a loss of 2…
China Shipping Development Company Limited (CSDC) achieved 34.95% higher profit for 2015 totaling in RMB417 million ($64.3 million) when compared to figures from 2014, mostly due to a very strong tanker market. The revenue was stable at RMB12…
Dry bulk shipping company Mercator Lines has inked an agreement to sell another vessel in an attempt to reduce its debt. The MV Kalpana Prem will be sold for US$2.9 million to a third party. It is expected to be delivered in April. In January…
TRAC Intermodal LLC is exploring a sale or an initial public offering (IPO) after pulling a $485 million bond offering last week, reports WSJ quoting the chief executive Keith Lovetro. Princeton, N.J.-based TRAC, one of the largest leasing companies for trucking equipment…
Logistics service and solutions provider Seaways Shipping & Logistics Ltd has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO comprises…
BlackRock Inc is planning to unveil a new U.S.-listed exchange-traded fund that will invest in all areas of the junk-bond market except the tattered energy sector, the asset manager said in a regulatory filing this week. The first-of-its kind fund…
Xeneta, a benchmarking and market intelligence platform for containerized ocean freight, has used its data of global shipping rates to make a startling, and counterintuitive, claim – big volume shippers are not paying the best shipping rates…
KPI Bridge Oil, a leading global trader and broker in marine fuels, marine lubricants and risk management products, relocates Team Leader/Bunker Trader Michalis Manassakis to its Athens office with a promotion to Deputy Managing Director and Sales Manager…
DryShips an international owner of drybulk carriers and offshore support vessels, today announced that it has entered into an agreement to increase its secured revolving facility (“Revolver”) provided by an entity controlled by the Company’s Chairman and CEO…
DP World Group Chairman and CEO HE Sultan Ahmed bin Sulayem recently met the President of France, Francois Hollande and senior government and business leaders at a major investment summit at the Élysée Palace in Paris.France’s attractiveness…
Cosco Pacific Ltd.'s 2015 net profit rose 30% from a year earlier on the back of a write back of a provision. It recommended a final dividend of 22.9 Hong Kong cents a share. The full-year net profit was US$381.6 million compared with US$292…