(Reuters) - Federal prosecutors in Manhattan have subpoenaed the Port Authority of New York and New Jersey for records regarding the business dealings of the agency's chairman, David Samson, according to media reports on Monday.U.S. Attorney…
A group of passengers suing Carnival cruise lines for damages after an engine fire left their ship adrift for days are asking the company to pay $5,000 a month for the rest of their lives for medical bills and mental anguish.A lawsuit brought…
U.S. Federal Maritime Commissioner Doyle spoke to the Global Shippers Forum in Los Angeles and discussed Ro/Ro price fixing matters; the newly approved cooperation agreement between the ports of Seattle and Tacoma; the first PVO company to take advantage of the alternative bonding mechanisms…
International accountant and shipping adviser Moore Stephens has made representations to Her Majesty’s Revenue & Customs (HMRC) about changing the way in which the written-down values of vessels are calculated under the U.K. tonnage tax rules…
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has commenced a cash tender offer for any and all of its currently outstanding 9.5% Senior Unsecured Callable Notes due 2016 on the terms and subject…
Sea Star Line LLC and Horizon Lines LLC have agreed to resolve allegations that they violated the False Claims Act by fixing the price of government cargo transportation contracts between the continental United States and Puerto Rico, the Department of Justice announced today…
In an important decision for the P&I industry, on 6 March 2014 the Court of Appeal has ruled that a Limitation Fund can now be constituted by way of a Letter of Undertaking ('LOU') given by a P&I Club, as opposed to a cash payment into court…
Container truck drivers at Canada's largest port reached a new deal on Thursday, narrowly avoiding an expanded job action that would have seen some 400 unionized drivers join about 1,200 non-unionized drivers who walked off the job last week…
By David Sheppard and Peg Mackey, ReutersOil and gas major BP Plc more than tripled Chief Executive Bob Dudley's pay last year, the firm's annual report showed on Thursday, with cash and performance-related bonuses taking his total remuneration to $8…
China’s aim of 7.5% GDP growth for 2014 is positive news for the shipping market – in particular, dry bulk, the Baltic and International Maritime Council (BIMCO) said in a report published today.Despite being a little down on the 2013 GDP growth of 7…
Goldman Sachs' head of oil and agricultural trading, Karl Robijns, is retiring from the firm, an internal memo seen by Reuters showed.London-based Robijns, who first joined Goldman as an oil trader in 1998, has headed the bank's global oil…
The American Association of Port Authorities (AAPA), on behalf of its United States member seaports, expresses both encouragement and disappointment over the funding levels and programmatic changes in federal port-related programs proposed in the President’s FY 2015 budget…
No very large crude carriers (VLCCs) will load from Britain's Hound Point oil terminal in May and June due to planned maintenance, a spokeswoman for operator BP said on Tuesday.Last week traders reported hearing that Hound Point's Jetty 1 would undergo fender and integrity work in May and June…
ITF representatives met with maritime employer representatives from the International Shipping Federation (ISF) at the ILO recently for discussions.The sub-committee on wages of seafarers of the joint maritime commission agreed to increase…
Reuters - London-listed oil company Royal Dutch Shell said board-member Josef Ackermann would retire as a nonexecutive director at its annual meeting in May.Ackermann's departure from Shell is the latest retreat from high-profile corporate positions for the former Deutsche Bank chief executive…