Family-owned Craig Group, of Aberdeen, has sold its core North Star Shipping business to international investors Basalt Infrastructure Partners in a move described as “restructuring for a new era”. 'North Star Shipping has been acquired by Basalt Infrastructure Partners…
Brazil's Itaqui port, the country's closest deepwater gateway to the Panama Canal, has projected a rise in 2017 shipping volumes thanks to a record grain harvest and development of a new northern farming frontier. Most of Itaqui's export cargo arrives by train instead of roads…
Aegean Bunkering Pte Ltd will halt physical supply operations in Singapore by January, the company said, becoming the fourth such firm to exit the world’s largest marine refuelling hub after it adopted tougher bunkering procedures this year…
To promote Government of India’s ambitious ‘Make in India’ programme and to encourage domestic shipbuilding by providing a level playing field vis-a-vis foreign shipyards, the Government had approved the Shipbuilding Financial Assistance Policy for Indian Shipyards in December 2015…
Dredging, environmental and infrastructure services provider Great Lakes Dredge & Dock Corporation announced the receipt of a $213.3 million award for the Post 45 Charleston Entrance Channel Maintenance and New Work Dredging – Contract 2 Project base contract…
Paying crew members in cash will lead to further challenges of increased incidents of piracy and theft, says global financial payments company ShipMoney. ShipMoney President Stuart Ostrow will address delegates at Crew Connect Global, taking place between in Manila November 6 to 8…
The Port of Indiana-Burns Harbor will receive one of the nation's 10 FASTLANE small project grants for 2017, U.S. Secretary of Transportation Elaine L. Chao has confirmed. In August, Secretary Chao informed Congress the Department of Transportation was recommending approval of a $9…
Belgian tanker operator Euronav reported a sharp drop in core profit for the first nine months of the year as freight rates in the oil tanker sector continued to fall. Excess tonnage in the global tanker market has put pressure on freight rates…
Chinese container carrier Cosco Shipping is thirsty for expansion and will raise CNY 12.9billion (USD 2billion) in new capital, according to Reuters report. The money will go to the construction of 20 new vessels. The carrier will use the raised fund to fund the building of six 21…
Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora (FSR), subsequently changing the company’s name to Sojitz Regasificadora (SR). SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos…
Oslo-based shipping company MPC Container Ships has continued its fleet expansion with the addition of two more container vessels; to take delivery of the vessels next month. The expanding start-up company purchased a 2,564 TEU vessel, which will be named AS Petulia…
GoodBulk, an owner and operator of dry bulk vessels announced that it has entered into an agreement to acquire 7 to 13 Capesize dry bulk carriers from entities managed by CarVal Investors. Delivery of the vessels is expected to occur during the 4th Quarter of 2017 and the 1st Quarter of 2018…
Attica Group has announced that it reached an agreement with Minoan Lines, owned by Naples-based Grimaldi Group, for the acquisition of its 48.53 percent stake in Hellenic Seaways. According to an announcement, the agreement provides for Attica Group to purchase Hellenic Seaways’ shares for 78…
Orient Overseas (International) Limited (OOIL) total volumes were 5.0% up for the third quarter of 2017 (ended 30th September 2017), from that of the same period last year. Total revenues increased by 26.5% to US Dollars 1,453.4 million…
International law firm Watson Farley & Williams (WFW) advised Banca Popolare di Milano S.p.A. (BPM) regarding a US$28.8m loan facility granted to L.G.R. di Navigazione and secured by, inter alia, mortgages over two medium range ice class tankers…
