ABS, a leading provider of classification and technical services to the global marine and offshore industries, announces the realignment of its Americas Division operations to create two new regions – Canada and Mexico, Central America and the Caribbean…
Following the allegations made on December 17, 2015 by the Brazilian Public Prosecutor's Office (Ministério Público Federal - 'MPF') regarding SBM Offshore's CEO, Mr. Bruno Chabas, and a member of the Company's Supervisory Board, Mr. Sietze Hepkema…
A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL…
China Shipping Container Lines (CSCL) has released a profit warning stating that it expects to close the financial year 2015 with a net loss of about 2.8 billion yuan (425 million dollars) compared to a profit of over one billion yuan recorded in 2014…
* Iranian insurers see tie-up interest from foreign players* Local insurance market worth $7.4 bln in premiums* Iranian players seeking credit ratings to help partnerships* Caution remains over U.S. restrictions still in placeBy Bernardo Vizcaino and Carolyn CohnSYDNEY/LONDON…
The 4th Edition of Oil Spill India (OSI) 2016 is all set to be launched at the JW Marriot Sahar, Mumbai. Keeping with the current trend and the government policy of 'Make in India' the theme selected for this two-day event scheduled for 11th and 12th August 2016 is 'Commitment…
Singapore-based rig builder Keppel Offshore & Marine saw profits fall for last year along with revenues. It also revealed work had slowed on rigs being built for Sete Brasil with the Brazilian company not making payments in over a year. Keppel’s profit was S$481 million for the full year…
Höegh LNG Partners LP announced that its board of directors (the 'Board') has declared a quarterly cash distribution with respect to the quarter ended December 31, 2015 of $0.4125 per unit. This represents an increase of $0.075 per unit…
French container shipping group CMA CGM bought an additional 2.4 million shares in takeover target Neptune Orient Lines (NOL) from the open market on Thursday at $1.235 and $1.24 per share, says a report in the Business Times. Following the latest transaction…
The state privatization fund Hellenic Republic Asset Development Fund (HRADF) of Greece has accepted a “significantly improved” offer from China’s Cosco Group for the state’s majority stake in the Piraeus Port Authority (OLP). “HRADF’s…
Southwestern Energy Co said it would lay off 1,100 employees, or nearly 40 percent of its workforce, as it slows down drilling activity in response to a prolonged slump in oil prices.Oil futures dropped to their lowest levels since 2003…
Amid political rivalry between the Islamic Republic of Iran and Saudi Arabia, United Arab Shipping Company (UASC) is resuming business with Iran following the lifting of Western sanctions, reports Reuters. Saudi Arabia is one of the shipping line's main shareholders…
Ports America, the largest stevedore and terminal operating company in the United States, is refocusing its business strategies on the West Coast through additional investments and expansion of services into new terminals. Areas of concentration include Los Angeles…
The critical link between shipping and global society is the main focus for this year’s World Maritime Day theme: 'Shipping: indispensable to the world'. The theme for 2016 was launched by IMO Secretary-General Lim as he opened the Sub-Committee on Ship Design and Construction (18 January)…
Cosco Pacific is expected to submit an improved bid for the controlling stake in Piraeus Port Authority (OLP) on Wednesday that is set to be discussed at the board meeting of the Hellenic Republic Asset Development Fund (TAIPED), reports Kathimerini…