Shipping confidence up on expectation of rate increases but new investment appetite wanes. Overall confidence levels in the shipping industry increased slightly in the three months ended February 2012, to reach their highest level since May 2011…
XL Group plc’s North American Marine business has boosted its underwriting expertise with the addition of Chris Cooke who has joined as Vice President, Hull and Liabilities. According to Richard DeSimone, President of XL Group’s North American Marine business…
INTERNATIONAL accountant and shipping adviser Moore Stephens says the UK Budget 2012 contains some encouraging signs for the shipping industry. The government has stated that it will consult later this year on whether to introduce a rule…
Move intended to increase efficiency under Solvency 2. The UK P&I Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members. By reducing the number of separately regulated insurers from two to one…
Tidewater Inc. announced today the following update with respect to its negotiations with Sonangol, the national oil company of Angola, regarding Sonatide, the joint venture between Sonangol and Tidewater through which Tidewater markets its…
The Subcommittee on Coast Guard and Maritime Transportation, chaired by U.S. Rep. Frank LoBiondo (R-NJ), held a hearing this morning to examine the fiscal year (FY) 2013 budget requests for the United States Coast Guard, Federal Maritime Commission (FMC)…
ITF, the oil and gas industry technology facilitator announced a new membership agreement with Thailand’s national oil company, PTT Exploration & Production Public Company Limited (PTTEP).ITF plans to secure a $9 million investment from its…
ABS Nautical Systems has signed two new contracts in Greece with Millenia Maritime Inc. and TMS Tankers Ltd. Both companies will benefit from the ABS Newbuild Program which offers free software to ABS-classed vessels built after 1 January 2009…
Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container…
Statement from Alabama Attorney General Luther Strange on BP/Private Plaintiffs Settlement. “The settlement announced last night between BP and private plaintiffs does not impact Alabama’s claims against BP and the other defendants for the damage done to our economy and environment…
Athens - Seanergy Maritime Holdings Corp. announced that the Nasdaq Stock Market has confirmed that the Company has regained compliance with Nasdaq Listing Rule 5450(b)(1)(C) concerning the minimum market value of publicly held shares.Seanergy Maritime Holdings Corp…
Dubai - Drydocks World LLC (DDW) has been in dialogue with its core group of lenders since late 2011 to develop a proposal for the restructuring of its debt obligations under its $2.2 billion syndicated facility. With the support of its wider stakeholders…
The McLean Group, LLC appointed Harry Ward as Director leading the firm’s Transportation & Logistics practice. Ward has more than 20 years’ global strategy, business development and M&A experience supporting privately-held companies. He has worked across the transportation & logistics value chain…
Transocean Ltd. reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million…
Star Bulk Carriers Corp. (Nasdaq: SBLK) has entered into an agreement to sell the Star Ypsilon, a 150,940 dwt Capesize vessel, built 1991, to a third party for a contracted sale price of $9.12 million. The Company plans to deliver the vessel to the buyers within March 2012…