Kellye Walker, Huntington Ingalls Industries (HII) executive vice president and general counsel, was inducted into the DirectWomen’s 2017 Board Institute class. Walker is one of 20 elite women lawyers to be welcomed into this year’s class. The…
Leney Elected to Partner at Montgomery McCracken Melanie A. Leney has been elected to Montgomery McCracken’s partnership. Previously an associate with the firm, Leney is located in the firm’s Cherry Hill office and focuses her practice…
The Norwegian Competition Authority has today given a notice of an objection to Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The notice reflects the Authority's preliminary conclusion, and Eimskip has 15 business days to present counterarguments…
The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017. The reinstatement of the program follows the implementation of comprehensive new policies…
In January 2017, following the completion of the sale of the MSC Cristina, Navios Maritime Partners repaid approximately $100 million of bank debt. Proforma for these repayments, net debt/book capitalization for December 31, 2016, has decreased to 36…
The South Korean shipbuilder Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015…
Korea Development Bank, the main creditor of the dissolved Hanjin Shipping Co. and state-owned entity, has put 10 Hanjin vessels up for sale in order to source back elements of its extended loans, reports Yonhap. According to the sources…
BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery. BP's Chief Financial Officer Brian Gilvary said…
Scorpio Bulkers has its loss narrowed to $124.8 million, or $2.22 per share for the year ended December 31, 2016, compared with a net loss of $510.7 million seen in the same period a year earlier. However, it reported a loss of $20.6 million in its fourth quarter of 2016 ended December 31…
The Seoul Central District Court Thursday decided to end the bankruptcy protection of Hanjin Shipping Co. Ltd (Hanjin Shipping), leaving the company to succumb to a declaration of bankruptcy later this month, Yonhap reported. Hanjin, once…
Port authorities in Chennai have impounded a BW LPG vessel and a local ship carrying heavy fuel oil, and detained their crews, a spokesman for the port said on Friday, after their collision last week caused an oil spill affecting marine life and local fishing…
India, the world’s fourth-largest buyer of liquefied natural gas (LNG), has announced plans to halve its basic customs duty on imports of the chilled fuel. Indian Finance Minister Arun Jaitley presenting the Budget for 2017-18 in Parliament halved the import duty on LNG to 2…
InterManager, the trade association for in-house and third party ship managers, together with The Warsash Maritime Academy, has presented the findings of its fatigue study, Project MARTHA, to The International Maritime Organization (IMO).Speaking at the presentation last night…
Broward County's Port Everglades will move forward with a public-private partnership with the Port Everglades International Logistics Center, LLC (PE-ILC) for the design, construction, financing, operation and maintenance of a new logistics center at the Port…
TFI International, formerly known as TransForce, a North American leader in the transportation and logistics industry, has announced that a wholly-owned subsidiary of TFI International has acquired Cavalier Transportation Services Inc. Cavalier's…