The Georgia Ports Authority has received a $44 million Fixing America's Surface Transportation (FAST) grant from the U.S. Department of Transportation to increase rail capacity at the Port of Savannah. 'I would like to thank the Georgia Congressional delegation…
Blackhawk Specialty Tools, LLC, an industry leader in deepwater cementing innovations, has acquired the surge reduction business line of Allamon Tool Company and its related intellectual property. The surge reduction business line includes…
Scorpio Tankers Inc. announced that it has received a commitment for a loan facility up to $300 million from ABN AMRO Bank N.V., Nordea Bank Finland plc, acting through its New York branch, and Skandinaviska Enskilda Banken AB. The loan…
The U.S. Department of Transportation (DOT) has announced 18 proposed grant awards for projects under the Nationally Significant Freight and Highway Projects Program. The program, also known as the Fostering Advancements in Shipping and Transportation…
A new edition of BIMCO’s Dispute Resolution Clause has been published. New wording has been added to the US law, New York arbitration option to ensure that non-maritime contracts (such as shipbuilding contracts) are not inadvertently excluded from the scope of the clause…
The special treatment procedure to issue International Energy Efficiency (IEE) Certificate for the Malaysian flagged vessels by their Shipping Notice (MSN 09/2012) has already been provided in ClassNK Technical Information No. TEC-1038. This…
• A.P. Moller – Maersk A/S (Maersk) recently announced its undertaking of a strategic and structural review of its business set-up. • We understand that the disposal of one or several of Maersk's main business units could form part of the review's outcome…
Daewoo Shipbuilding & Marine Engineering (DSME) is being rocked by estimated trillions of won (billions of U.S. dollars) of accounting fraud amid the ongoing restructuring process for Daewoo as well as other two shipbuilders, says a report in Xinhua…
With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries…
Alfa Laval remains on track to submit a US Coast Guard (USCG) type approval application for Alfa Laval PureBallast 3.1 in the coming weeks. The company has successfully completed all required land-based tests using the current system design…
Business Korea reports that rumours are now rife in the container business world that Maersk could swoop on Hyundai Merchant Marine and subsume its activities into their own business. The report says that recent moves by Hyundai Merchant Marine to join the 2M alliance led by Maersk and MSC…
The International Spill Control Organization (ISCO) and BIMCO are working together to develop a standard contract for spill response services. The contract is expected to be published by the end of the year. The Spill Response Services…
The International Dockworkers’ Council (IDC), International Transport Workers’ Federation (ITF) and European Transport Workers’ Federation (ETF) are calling on dockers’ unions around the world to organise an hour of activities on International dockers’ action day next Thursday…
A Russian warship carried out aggressive and erratic maneuvers close to a U.S. Navy ship in the eastern Mediterranean Sea, the second such Cold War-style incident there in a matter of weeks, the U.S. military said on Saturday.The U.S. European Command said the Russian frigate…
Vietnam has called for an international tribunal in The Hague to deliver a 'fair and objective' ruling in an arbitration case lodged by the Philippines that challenges China's expansive claims in the South China Sea.In a carefully worded…