Crowley Maritime Corporation announced today that company veteran Craig Tornga has assumed the role of vice president of stakeholder relations for Alaska, and will coordinate with all of Crowley's Alaska business units to leverage relevant company relationships…
Iran's oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements over sea worthiness by potential foreign clients, despite easing of sanctions, reports Reuters…
TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard. TORM has demonstrated its financial and strategic…
Nippon Yusen Kaisha (NYK) concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation, the world's pre-eminent liquefied petroleum gas (LPG) company. The new VLGC will be built by Mitsubishi Heavy Industries Shipbuilding Co…
Good positions in a market that exceeded expectations gave Concordia Maritime part of Sweden’s Stena Group, a very strong quarter for the season. It recorded after-tax income of SKr52.4M ($6m) for the third quarter, a dramatic turn from a SKr27m loss the same period a year ago…
The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH. Under the agreement, the ICBC will provide 65 million U.S. dollars in export buyer's credit for F.Laeisz GmbH's…
Nasdaq-listed Greek dry bulk shipowner Globus Maritime has received notification from Nasdaq indicating it is in breach of Nasdaq Global Market requirements because the closing bid price of the company’s common stock has been under $1 for the last 30 consecutive business days…
South Korea’s government is discussing whether to merge or sell Hanjin Shipping and Hyundai Merchant Marine in an attempt at state-led industrial restructuring. But the two lines in question belong to different container alliances, are…
Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market. Crystal…
Japan-based Kawasaki Kisen Kaisha (“K” Line) and Sharaf Group have established a new firm, K Line Shipping & Logistics (KLSL). Based in Dubai, UAE, KLSL will carry out businesses in the fields of marine transportation, logistics, land transportation…
The UK’s £10bn shipping industry has called the push toward closer union in Europe “distracting” and told the European Commission (EC) to stop interfering with the sector’s globally produced regulations. This is the gist of study on the…
Overseas Shipholding Group, Inc. (OSG, a provider of oceangoing energy transportation services, reported results for the quarter ended March 31, 2015. Adjusted EBITDA was $113.7 million, up 31% from $86.6 million in the same period in 2014…
Crowley Maritime Corp.’s Kyra Roca, vice president, customer care, was presented with the 2014 Thomas Crowley award, the company's highest honor, at a ceremony held yesterday at the company’s Jacksonville, Fla., office. Roca joins Capt. David Ridge…
'The container shipping industry is in the midst of an over-capacity crisis which will worsen next year,' Neil Dekker, director of container shipping research at Drewry said in a note accompanying the release of its 2015 edition of the Container Market Annual Review and Forecast 2015/16…
Danish shipping and offshore energy conglomerate, Maersk Group, kept a reduced forecast made two weeks ago for a 2015 underlying profit of $3.4bn, down from the $4.0bn previously expected. The Danish shipping giant said on Friday that…