Singapore Technologies Engineering Ltd (ST Engineering) announced today that ST Education & Training Private Limited (“STET”) has increased its issued and paid up capital from S$1m to S$2m. This increase in paid-up capital is by way of a bonus issue of 1…
Transocean Ltd's decision to replace its chief executive will do little to help the company cope with an aging fleet and lower demand for its rigs due to a steep fall in oil prices, analysts said. Shares of the company, which also slashed its dividend by 80 percent to 60 cents per share…
International accountant and shipping adviser Moore Stephens says the time is right for shipping to seek financial backing from the private equity sector to help fund investment in innovative products and services designed to keep the industry competitive and achieve regulatory compliance…
A partial shutdown of 29 U.S. West Coast ports stretched into a third day on Monday ahead of the U.S. labor secretary's scheduled arrival in San Francisco to try to broker a settlement ending months of disruptions on the cargo-clogged docks…
The chief executive of Transocean Ltd , one of the world's top offshore drilling companies, is stepping down and the company is slashing its dividend as business slows on tumbling crude oil prices.Transocean said on Sunday that Chairman Ian Strachan…
When Ian Sandlin was laid off last week after 13 months working on oil rigs in southeast Texas, he was surprised to have lasted that long.'I knew it was coming,' he said. 'I wasn't the first to be let go.'The 27-year-old Houston native…
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31…
Horizon Lines, Inc. announced it has reached an agreement in principle providing for the settlement and dismissal, with prejudice, of the consolidated putative class action complaint pending in the Delaware Court of Chancery in connection with Horizon's proposed merger with Matson Navigation…
The founder of India's Sun Pharmaceutical Industries Inc, Dilip Sanghvi, has agreed to buy a 23 percent stake in Indian wind turbine maker Suzlon Energy Ltd for about $290 million, the company said late on Friday.Sanghvi, India's second-richest man…
Clogged ports along the U.S. West Coast reopened to cargo vessels on Friday after a daylong closure, but shippers planned to re-impose a partial shutdown through the holiday weekend barring a settlement in stalled labor talks with the dockworkers union…
Crude price volatility may not have completely closed the funding doors for US high-yield energy companies as private equity firms and new funds prepare to snap up juicy yields on offer after a recent slump in the sector's bonds.In a likely sign of things to come…
Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31…
In order to remain competitive and reduce costs, the management of Viking Supply Ships A/S (VSS) has decided to close down the Aberdeen office with effect from 1 July 2015.The Aberdeen office has operated the Viking PSV fleet and the organisational…
*Sales of NOK 9.2 billion 4Q 2014 vs NOK 7.5 billion 4Q 2013*Earnings before interest, taxes, depreciation and amortization (EBITDA) of NOK 786 million vs NOK 661 million a year earlier*Earnings before interest and taxes (EBIT) of NOK…
International accountant and shipping adviser Moore Stephens said today that companies in the offshore maritime sector need to keep a close watch on costs and manage their exposure to risk in the wake of the dramatic fall in oil prices.“It…