A cargo ship carrying thousands of livestock was sailing from Somalia to the United Arab Emirates when it encountered high waves and strong winds and sank off the coast of Gulf of Aden. All animals are perishing and two of the 29 crew still missing…
2GO Group, Inc. plans to boost profit by a quarter this year amid a sanguine outlook on its logistics, distribution, and express courier businesses, a company official said. The company has set a P1.1-billion ($0.04billion) net income target this year…
Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea. Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198…
Royal Bank of Scotland Group PLC is winding down its Greek operation and is looking to sell its USD5 billion shipping loans portfolio, Reuters reported on Saturday. Citing finance sources familiar with the plans, Reuters said the move was…
Japanese Astomos Energy Corp. has announced that it has signed a cooperation agreement with ENEOS Globe Corp. aimed at merging the two companies' gas fleets, thereby creating a new giant in the booming tanker market. The two partners will…
Marine safety in the Torres Strait and Northern Peninsula area is getting a boost with the donation of 1,400 children’s lifejackets as part of the Torres Strait Marine Safety Program (TSMSP) School Based Maritime Safety Education Project…
The U.S. Court of Appeals for the Federal Circuit recently affirmed the 2014 judgment that ION Geophysical Corp. infringed four seminal WesternGeco LLP patents covering streamer steering technology for marine seismic surveys, and that WesternGeco…
Krishnapatnam Port, recognized as one of India’s largest ports and ranked amongst world’s finest ports connecting the Eastern & Western parts of the world, has been bestowed with the Golden Peacock Environment Management Award. The prestigious award…
India's top government committee has selected five Indian shipyards to compete for an Rs 64,000-crore ($10.1 Bln) project to build high-tech submarines for the navy. The Indian Navy will soon invite tenders for building six conventional…
Indian Navy's stealth frigate INS Teg is on a two-month long deployment in the South Indian Ocean to provide surveillance support in the region, a Government of India Ministry of Defence official statement said. It will also be patrolling the Mauritian exclusive economic zone…
A replica of the Hermione sailed into jubilation Saturday morning, as hundreds packed into a sunny Boston Harbor, wearing colonial garb and straw hats, listening to the sound of bagpipes, and waving French and American flags. The Friends of Hermione-Lafayette in America…
Lebanese Army officials say an Israeli drone crashed in the waters off Tripoli on Saturday, reports Reuters. “At around 8:30 am (0530 GMT), a drone belonging to the Israeli enemy went down in the port of Tripoli, and the army has taken the necessary measures…
APM Terminals, part of A.P. Moller-Maersk, said it is interested in buying into the Greek ports Piraeus and Thessaloniki, slated for privatization if a new bailout deal is agreed between Athens and the European Union, reports Reuters. Maersk…
A floating terminal for liquefied natural gas (LNG) in Croatia would lower energy prices both for households and the business sector, Croatian President Kolinda Grabar-Kitarovic said. The country’s key energy project is still the liquefied natural gas terminal on the Island of Krk…
Oslo-listed owner of chemical tankers Ocean Yield saw second quarter net profit rise to $25.8m from $17.1m for the period in 2014, with its focus on stable earnings from long-term charters. The Board of Directors has declared a dividend of USD 0…