The owner and operator will pay a total criminal fine of $3,000,000.00.U.S. Attorney Gretchen Shappert for the District of the Virgin Islands announced that IONIAN SHIPPING & TRADING CORP., LILY SHIPPING LTD., STAMATIOS ALEKIDIS, ATHANASIOS…
Hong Kong-based international transportation and logistics company Orient Overseas International (OOCL) reported an interim net profit of US$138.9 million for the first half of 2019, swinging from a loss of US$10.3 million this time last year…
Top Russian oil producer Rosneft has put up marine fuel cargos for sale with the euro as the default currency, a tender document showed on Monday, in line with its plan to sell oil products in the single currency instead of the U.S. dollar.Rosneft said it had tendered to sell up to 70…
Iran has deployed a naval destroyer with long-range cruise missile systems to the Gulf of Aden to provide security for Iranian ships travelling through the region, state-run Press TV reported on Monday.The ship will be accompanied by a logistical vessel and a helicopter carrier…
Iran has sold the oil from a tanker released by Gibraltar after weeks in the custody of British Royal Marines and the vessel's owner will decide on its next destination, IRIB news agency quoted an Iranian government spokesman as saying on Monday…
Dubai International Ports Group (DP World) announced a strong financial results for the first six months of the year ended June 30, 2019 and its profits soared by 27% to US$753.Acquisitions and growth in non-containerized revenue helped revenue climb to $3…
All Shipping Agents, Owners, and Operators advised as to Scheduled Culvert Maintenance at Gatun Locks.Beginning at 0600 hours on Monday, August 26, 2019, until 0600 hours on Friday, September 6, 2019 (10 days), the center wall culvert of Gatun Locks will be out of service for scheduled maintenance…
Frontline will buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million, and may buy a further four vessels later, the two companies announced on Friday.The deal will allow Frontline, which is controlled by Norwegian-born billionaire John Fredriksen…
New Zealand's Napier Port successfully completed its $234 million initial public offer (IPO) with a listing ceremony at the Port’s Breakwater Road site in Napier.After ringing the bell to welcome in trading of the Port’s shares on New Zealand Exchange (NZX) under the ticker ‘NPH’ on August 20…
Greek provider of oil, petroleum products and chemicals transportation services TOP Ships Inc. announced that it has determined to effect a 1-for-20 reverse stock split of the its issued common shares.The Greek company's shareholders approved…
If Iran's oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against upping pressure on Tehran in an angry confrontation between the longtime foes…
Vessel owners rarely carry cargo for their own account. More commonly by far, a vessel owner will charter its vessel to another party to carry their (or their sub-charterer’s) cargo. The contracts can vary widely – from voyage charters or…
Spanish public multinational electric utility company Iberdrola has entered into an agreement with Green Investment Group (GIG), part of Macquarie Group, to sell a 40% share in the East Anglia One offshore wind farm.The group will continue to be the majority shareholder…
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation reported a consolidated revenues of about NTD 40.4 billion (USD 1.3 billion) for the second quarter of 2019, up 20.24% compared to the same period of prior year.Business volumes increased by 5% year-on-year to 1…
A highly placed Gibraltarian government source denied on Tuesday an Iranian news agency report which said the Iranian oil tanker Grace 1 would be leaving the British overseas territory on Tuesday.British Royal Marines seized the tanker on July…