Baltic Trading Limited, a Marshall Islands company formed by Genco Shipping & Trading Limited, reported a loss of $42.4 million in its first quarter. The New York-based shipping company focused on the drybulk industry spot market said it had a loss of 75 cents per share…
The booming VLCC tanker market has started to be reflected on the companies’ earnings and is “firing on all cylinders” and it is set to continue Poten & Partners say in their weekly report. The boom is evident by the rather impressive first…
China has appointed new chairmen for the country's top three energy groups, according to company statements on Monday, in a top-down reshuffle of the industry which faces the challenges of spending cuts, low oil prices and easing demand.Earlier…
The Round Table (RT) of International Shipping Organisations (comprising BIMCO, the International Chamber of Shipping, Intercargo and INTERTANKO) is deeply concerned if the international convention to regulate ships’ ballast water comes into…
Curacao Ports Authority NV ('CPA') signed a Memorandum of Understanding with Nederex BV. (Nederex) and B.V. Damen Shipyards Gorinchem (Damen) on the 30th of April. Damen Shipyards and Nederex are engaged in ship repair and the provision of maritime services…
The Indian Ministry of Defence has directed future warship and submarine building orders be given only to domestic shipyards. The Navy has potential orders worth more than US $50 billion over the next 10 years for ship and submarine builds…
The Maritime and Port Authority of Singapore (MPA) and the Dredging International Asia Pacific-Daelim Joint Venture (DDJV) have inked a contract for the USD 1.83 billion Tuas Terminal Phase 1 Reclamation, Wharf Construction and Dredging Project…
ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after eight years as Chairman of the Board of Directors. The award is intended to encourage…
BP Shipping today celebrates its 100-year anniversary, making it the longest continually operating company in the BP group.Formed on April 30, 1915 as the British Tanker Company, the business has adapted to significant world events including two world wars…
Statoil has decided to donate NOK 1 million to the Red Cross to support their disaster relief work in Nepal after the earthquake.The International Red Cross and Red Crescent Movement is stepping up efforts to help the people of Nepal following the devastating earthquake which has left over 5…
The Iranian Embassy in Denmark has reportedly said that a cargo ship recently impounded the Persian Gulf by Iranian Navy forces will be released if the ship’s operator company settles its overdue debts to an Iranian plaintiff. “Iranian…
Canada launches new Commercial Fishing Safety component of Boating Safety Contribution Program Canada’s Minister of Transport Lisa Raitt, joined by Members of Parliament from Atlantic Canada, announced a new Commercial Fishing Safety component…
The chief of police for the port of Los Angeles was indicted on federal corruption charges involving a program to help citizens report criminal activity at the port, the U.S. Department of Justice said in a statement on Thursday.Ronald Boyd…
International Container Terminal Services, Inc.’s (ICTSI) Subic Bay Freeport unit, Subic Bay International Terminal Corp. (SBITC), in partnership with the Subic Bay Metropolitan Authority (SBMA) and the Bureau of Customs (BOC), recently opened…
ClassNK released PrimeShip-GREEN/ProSTA, making it the world’s first classification society to develop software which analyzes and calculates a ship’s speed trial results for EEDI calculation in compliance with the latest IMO Guidelines on 1 May 2015…