DryShips Inc. (NASDAQ: DRYS) announced that its Board of Directors has approved the partial spin-off of its interest in the Company’s majority-owned subsidiary Ocean Rig UDW Inc., of which DryShips currently owns approximately 78% of the issued and outstanding common stock…
Shipper groups say the introduction of green fuel taxes will not reduce emissions. They claim that shipping lines will not switch to more environmentally-friendly fuels or more efficient ships, they will simply add yet another surcharge to the rates they charge their customers…
Titan Torque, the oilfield services specialist, has announced it has increased turnover by 118%, increased the size of its Aberdeen facility and launched a new service to the drilling sector.Rapidly-expanding Titan has secured additional operational…
IMA has completed a study of the floating production market, and the report documents strong growth in the business sector. According to the market survey, 14 floating production units have been ordered over the past four months – a record pace reflecting strong underlying market drivers…
Whether building piers and docks, repairing bridges or retrofitting port facilities, construction contractors experienced in working along the waterfront are in demand. To help construction contractors manage both the marine and non-marine exposures that come with working in and around the water…
Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, has announced its operating and financial results for the second quarter and six month period ended June 30…
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoesand offshore contract drilling oil services, announced that the Company’s 2011 Annual General Meeting of Shareholders will be…
Germany and France are considering merging their naval shipbuilding operations, according to a report from Reuthers which cited a German newspaper report, in a deal that would be one of the largest industrial partnerships in a decade. ThyssenKrupp…
The EU announces funding for a project to implement a common interoperable Information and Communications Technology (ICT) platform for the maritime logistic chain in Italy, Spain, Cyprus, Germany and Portugal. The project will receive almost…
Plunging rates for chartering container vessels that carry consumer goods means a slowdown and losses for shipping lines in what is traditionally their busiest time of the year, according to a report on Bloomberg.com.As reported earlier today on MarineLink…
Mitsui O.S.K. Lines, Ltd. announced a downward revision of its consolidated business outlook for FY2011, ending March 31, 2012 (April 1, 2011-March 31, 2012), issued on April 28, 2011. For the year, the company has revised revenue generation down 6…
Statoil's second quarter 2011 net operating income was NOK 61 billion, a 129% increase compared to NOK 26.6 billion (nearly $11.3 billion) in the second quarter of 2010. The quarterly result was mainly affected by a 32% increase in the average prices for liquids measured in NOK…
Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $…
According to a report on www.business-standard.com, India's Titagarh Wagon (TWL) (www.titagarh.biz) announced plans to enter shipbuilding business and was scouting for land near Kulpi. In the report, TWL Chairman JP Chowdhary was quoted as saying that the company is scouting for up to 400 acres…
Fitch Ratings has affirmed SEACOR Holdings' () Issuer Default Rating (IDR) and debt ratings as follows:--IDR at 'BBB-';--Senior unsecured credit facility at 'BBB-';--Senior unsecured notes at 'BBB-'.The Rating Outlook is Stable. Approximately…