Harvey Gulf International Marine’s CEO, Shane Guidry, announced that, on June 4, 2012, Harvey Gulf signed an agreement with Bee Mar, LLC to purchase all of Bee Mar’s vessels and assets. The purchase will include 10 Offshore Supply Vessels…
IHC Merwede establishes IHC Tidal Energy and acquires Wave Rotor technology.On 30 May 2012, IHC Merwede signed an agreement to acquire Wave Rotor technology from Ecofys, which is renowned for its expertise in sustainable energy solutions…
Following on from Drydocks World Dubai LLC and Drydocks World LLC (together the “Drydocks World - Dubai”) filing for Decree 57 on 1 April 2012, Drydocks World has confirmed that its restructuring remains on track for completion in Q3 2012.On 7 May…
US Ports Risk Millions in crush to file FEMA paperwork. Across America, from sea to shining sea, hundreds of millions of dollars in Port Security Grant funds that have already been awarded to prevent terrorist attacks at ports, port security agencies…
A full range of risk awaits Vale’s new transport strategy. Are they on the right course? Vale do Rio Doce, the second largest mining company in the world, is facing various challenges in 2012. These include low iron ore prices in the international market…
International classification society RINA has introduced a management shareholding scheme which will increase group capital by Euro 12 million and give managers across the group the opportunity to share in RINA’s growth.In the first tranche…
Plans to increase toll charges for the Panama Canal are ‘rushed, excessive and likely to cause further problems for shipping companies’ given the fragile state of economic recovery, say shipowners. The International Chamber of Shipping…
Underwriters, brokers, claims personnel and key industry suppliers converged on San Diego’s Rancho Bernardo earlier this month for the 82st Annual Meeting of the Inland Marine Underwriters Association (IMUA). The meeting officially got underway with the election of a new slate of officers…
Eagle Bulk Shipping Inc. (Nasdaq:EGLE) (the 'Company') announced May 22, 2012 that the previously announced 1-for-4 reverse stock split of the Company's issued and outstanding common stock will take effect on May 22, 2012. The Company's…
Five concrete offers have been received for the companies of the Hamburg-based Sietas Group. This is the result of the second phase of the extensive search for investors by the receiver of the Sietas shipyard, Berthold Brinkmann. During the first phase…
On May 16 Diana Shipping Inc. (NYSE:DSX) took delivery of the newly-built m/v 'Philadelphia', a Newcastlemax dry bulk carrier of 206,040 dwt that was contracted in April 2010. As previously announced, the m/v 'Philadelphia' is chartered to EDF Trading Ltd…
Many corporate strategy articles start by reminding readers that “the Chinese character for risk and opportunity are the same.” Unfortunately, capital providers – especially those layering in debt to shipping company balance sheets – do not see things that way…
New Orleans -- Today the Obama Administration provided final details for the Central Gulf of Mexico lease sale announced by President Obama in January 2012, as part of his administration’s ongoing focus on expanding safe and responsible production of our domestic energy sources…
GCT Global Container Terminals Inc. announces new Chief Financial Officer.Michael E. Moore, President and CEO of GCT Global Container Terminals Inc. is pleased to announce the appointment of Chris Davies to Chief Financial Officer effective June 4…
Drewry Maritime Research’s latest Tanker Forecaster report indicates that Suezmax owners got some respite in the first quarter of the year, but things are looking bleak in the longer term. Spot rates firmed on the back of buoyant demand in the Caribs…