The number one Korean national containers carrier Hyundai Merchant Marine (HMM) and Singapore-based terminal operator PSA International have secured complete ownership of the Hyundai Pusan New-Port Terminal (Pier 4) in the Port of Busan, South Korea…
Bermuda-based shipping company Teekay GP, the general partner of Teekay LNG Partners, has announced that its Board of Directors has authorized a common unit repurchase program for the repurchase of up to $100 million of Teekay LNG’s common units…
An Indian court has declined to quash or stall an antitrust investigation into Dubai-based port operator DP World's alleged anti-competitive behaviour at the country's largest container port in Mumbai, three sources told Reuters on Wednesday…
Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan…
The US-based chemical tanker company Ardmore Shipping Corporation announced that Reginald L. Jones is stepping down as Chairman of the Board of Directors of the Company effective December 31, 2018. Curtis McWilliams has been appointed as Chairman of the Board effective January 1…
Revised Comment Period: Draft Merchant Mariner Medical Manual, Notification of Availability and Request for Comments.The Coast Guard is seeking public comment regarding the draft Merchant Mariner Medical Manual. The guidance in this manual should assist medical practitioners…
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK), the first company in the global shipping industry to issue labelled green bonds, presented its initiatives at a seminar conducted by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd…
The captain of the Malaysian-flagged fishing vessel Buah Naga 1 Captain Han Ming Chuan, a Taiwanese national, has pleaded guilty to the charge of Unlawful Possession of Shark Fins in a plea agreement with Tanzanian Prosecutors.The vessel was…
Greece-based Navios Maritime Acquisition Corporation announced that it completed the acquisition of Navios Maritime Midstream Partners. 'Following the close of the market on December 13, Navios Midstream common units no longer are publicly traded on the New York Stock Exchange…
Norway's bulk ship operator and management company Belships ASA announced that its chief executive officer (CEO) Ulrich Müller has resigned.The board of directors of the Norwegian bulker owner stated in a press release that they will initiate…
Maersk Broker Bulk Chartering has bought a stake in a US-based dry bulk broker NAODAN Chartering and become a major shareholder.The dry cargo brokerage of NAODAN Chartering will continue to focus on the well-established and successful business out of the West Coast of the USA…
The Intercontinental Exchange will launch new Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.The operator of global exchanges and clearing…
U.S. Transportation Secretary Elaine L. Chao announced 14 grants, which go to port-related projects, are made through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Grants program.Port-related projects will receive a total of $229…
NYSE-listed offshore support vessel owner Scorpio Group has taken control of Nordic American Offshore (NAO), via a private placement into company’s shares worth $5 million.The investment, which took place via a private placement with Scorpio Offshore Investments…
Hansa Heavy Lift GmbH has filed an application with the Hamburg District Court for the opening of insolvency proceedings. The court has appointed the experienced Hamburg restructuring expert, lawyer and tax consultant Dr. Christoph Morgen as preliminary insolvency administrator…