Scandlines focused the business on the Germany-Denmark routes and made significant investments in future-proofing the group’s ferry operations as well as catering and retail activities in 2015. Efforts to promote the Rostock-Gedser route paid…
Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier. The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains…
South Korea's largest shipping line Hanjin Shipping said bondholders agreed to extend the maturity of Won35.8bn ($30.1m) in debts by four months to September 23 this year, in a major step to help the company avoid bankruptcy. According to a report in the Korea Herald…
The restructuring issue of Samsung Heavy Industries (SHI) will spread to the entire Samsung Group as its main creditor Korea Development Bank(KDB) and the financial authorities are putting pressure on the group, reports Business Korea. SHI…
China Energy Transport Co., Ltd. (China VLCC) has sold two secondhand VLCCs to an unrelated third party for a total price of $117.5mln. China VLCC is 51 percent owned by China Merchants Energy Shipping (CMES) and 49 percent owned by Sinotrans & CSC Group…
Oil majors are in talks with Mexico’s state-owned Petroleos Mexicanos (Pemex) as the struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico, reports Bloomberg. Petroleos Mexicanos is in talks with Exxon Mobil Corp…
U.S. Merchant Marine veterans, current seafarers and maritime industry stakeholders will gather Friday, May 20, 2016, to commemorate National Maritime Day in the Port of Duluth-Superior. The event is set for noon in the Horizon Room at the DECC Harbor Side Convention Center in Duluth…
Inchcape Shipping Services (ISS), a maritime and logistics service provider, has demonstrated its continued commitment to compliance with the appointment of Karen Moore as Global Compliance Officer. Moore joins from financial markets and technology company…
Issues $140 Million of 6.95% Series F Cumulative Convertible Perpetual Preferred Shares, Renews $150 Million Unsecured Revolving Loan and Enters into $250 Million Lease FinancingHONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation…
Hellenic Carriers Limited, an international provider of marine transportation services for dry bulk cargoes, on 17 May 2016 sold the Company’s vessel HELLENIC WIND (74,000 DWT built 1997) for demolition to an unrelated third party for a total gross cash consideration of US$2…
Throughput at Cai Mep International Terminal, the APM Terminals facility in Vietnam’s Ba Ria‐Vung Tau province, southeast of Ho Chi Minh City, expanded by 130 percent in the first quarter as new service calls added in 2015 began to impact volumes…
The Port of Hueneme realized record economic growth with indirect, direct, induced and related jobs up 25 percent according to a new Economic Assessment prepared by Martin Associates, a firm specializing in economic analysis for the U.S. port industry…
Bernhard Schulte Shipmanagement (BSM), will be joining their parent company, Bernhard Schulte, to participate in this year’s 24 Peaks Challenge for Seafarers UK. The Schulte Group will be entering six teams, comprising a total of 30 participants from sea and shore-based personnel…
Alexey Miller, Chairman of the Gazprom Management Committee, and Nguyen Quoc Khanh, Chairman of the Board of Directors of Vietnam Oil and Gas Group (PetroVietnam), signed today in Moscow a number of documents to strengthen cooperation between the companies…
Ferry operators now eligible for New Building Canada funding Ferry operators across Canada applaud new changes made by the federal government that will allow infrastructure projects related to ferries to be eligible for funding under the New Building Canada Fund…
