New York-listed ship and barge Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter. The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share…
The Steamship Mutual Underwriting Association (Bermuda) achieved a combined ratio of 78.6% for the 2014-2015 policy year, one of the strongest results in its 100-plus years of existence.Free reserves increased by US$75 million to US$376…
Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level…
The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013.Petrofin Research in its latest annual research says that drawn loans are up by 2…
Huntington Ingalls Industries (HII) announced the appointment of two vice presidents at its Ingalls Shipbuilding division. George Jones has been appointed vice president of operations, and Tim Farrell has been appointed vice president of new Navy programs…
Seatronics Ltd., an Acteon company and part of its survey, monitoring and data business, has promoted Phil Middleton from deputy managing director to group managing director. Middleton will be responsible for managing and developing Seatronics’…
Ed Davis, an industry veteran and longtime employee at Furuno USA, Inc., passed away on April 30. Ed was Furuno USA’s Mid-Atlantic Regional Manager since September 1992, working closely with dealers who he not only called customers, but his friends…
A federal grand jury in Mobile, Alabama, has returned a seven-count indictment charging Det Stavangerske Dampskibsselskab AS (DSD Shipping) and four employees with violating the Act to Prevent Pollution from Ships (APPS), conspiracy, obstruction of justice and witness tampering…
Global broker and trader in marine bunkers, marine lubricants and risk management products KPI Bridge Oil has promoted Brian Coyne to managing director at its New York office. Coyne recently completed his MBA at New York University and has been with KPI Bridge Oil for more than 10 years…
After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry.Reed is part of the baby boomer generation that forms the backbone of the U.S. oil workforce…
BP has appointed John Sawers, former head of Britain's MI6 secret intelligence service, to its board as a non-executive director, the energy company said on Thursday.Sawers completed a 5-year tenure at the head of MI6 in November 2014 and…
Defense Secretary Ashton Carter announced today during a Pentagon press briefing that he has recommended Adm. John M. Richardson as the next Chief of Naval Operations (CNO). A career submarine officer, Richardson is currently director, Naval Nuclear Propulsion Program…
Mitsui O.S.K.Lines, Ltd. today announced that, in cooperation with the Japan’s 7th Regional Coast Guard Headquarters, the company conducted a tabletop drill based on a scenario in which the cruise ship Nippon Maru, operated by its group company…
Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today they are accepting applications for the 2015 Newport For New Products (NFNP) Awards. Judged by a team of marine-industry experts, NFNP winners for best new powerboat and sailboat…
In an initiative to raise awareness of potential hazards at sea, The Standard Club and the International Chamber of Shipping (ICS) have joined forces to launch a ‘Spot the Hazard’ competition open to any seafarer worldwide. With USD$10,000 of prize money…