The merger talk between two state-run shipping conglomerates Cosco Group and China Shipping Group is on strong footing on on Beijing’s command. According to sources, the companies would release an outline plan within three months. Chinese…
Denmark's AP Moller-Maersk, which operates the world's largest container shipping line, has revealed another huge share buy-back scheme a year after it launched its current programme. Maersk will buy back up to $1bn (DKK 6.7 billion) worth…
The value of the initiative also recognized by the UAE government Trieste, 12 August 2015 - As part of a program of international cooperation with the United Arab Emirates, Fincantieri has done in recent weeks in Genoa, at the headquarters of CETENA - Center for the Study of Marine engineering…
Mitsui O.S.K. Lines, Ltd. today announced that the company continues to meet the inclusion criteria and remains a valued member of the FTSE4Good Index Series: the world's major Environmental Social and Governance (ESG)/Responsible Investment (RI) index (MOL have been selected since 2003)…
The Panama Canal Authority (ACP) expressed its satisfaction after the main contractor for the Third Set of Locks Project, Grupo Unidos por el Canal (GUPC), and the National Union of Workers of Construction and Similar Industries (SUNTRACS)…
Shell has informed the U.S. Bureau of Safety and Environmental Enforcement (BSEE) that it is set to restart its controversial hunt for Arctic oil, three years after the company’s last ill-fated venture north, reports The Guardian. “Fennica…
South Korea's No. 2 shipbuilder Daewoo Shipbuilding & Marine Engineering Co., will push for restructuring moves, including asset sales and a reduction in the number of executives, as it reels from massive losses, reports Yonhap. The shipyard…
The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann's personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann's contribution to Sulzer's realignment, but in the interests…
Tidewater Inc. announced today a first quarter net loss for the period ended June 30, 2015, of $15.1 million, or $0.32 per common share, on revenues of $304.8 million. For the same quarter last year, net earnings were $43.7 million, or $0…
The 31st Marine Expeditionary Unit aboard the amphibious dock landing ship USS Ashland (LSD 48) arrived in Saipan on Aug. 8 and is providing disaster relief in the wake of Typhoon Soudelor.When the ship was tasked to go to Saipan earlier in the week…
Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four…
Evergreen Group signed an agreement with CSBC Corporation, Taiwan to build ten 2,800 TEU class B-type vessels. Witnessed by Evergreen Group's Second Vice Group Chairman Bronson Hsieh, the contracts were signed by EMC Chairman Anchor Chang and CSBC Chairman Sun-Quae Lai…
The Great Eastern Shipping Company Ltd. (G E Shipping) signed a contract to sell, a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines and will be delivered to the company in August/September 2015…
As Gateway Terminals India (GTI) (one of the private terminal at JNPort, a JV between APM Terminals (APMT) and state-owned rail operator Container Corporation of India) is facing shutdown in operations due to the strike of contractor's employees…
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter ended June 30, 2015.Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16…