Beleaguered South Korean shipbuilders's total liabilities as of the end of last year for their 34 overseas affiliated companies have reached 5.3584 trillion won (US$4.65 billion), up 28.7% compared to five years ago, reports BusinessKorea…
Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year. The pure play LNG transportation provider said that an oversupply of shipping in the carrier market…
The emergence of US liquefied natural gas as a competitive alternative for European and Asian customers, combined with an oversupplied market, should drive more convergence between natural gas prices at major hubs and weaken the link between gas and oil prices…
India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday.'The Indian government is seeking to pay the $6…
EBITDA of EUR 123.4 million / EBIT of EUR 4.8 million / Transport volume up 2.1% / Sharp year-on-year decrease in freight rate / Further efficiency measures plannedHapag-Lloyd recorded a positive operating result in a very challenging first quarter of 2016…
The Board of Harbor Commissioners last evening awarded 83 sponsorships totaling $359,795, capping off a record year of Port community sponsorships that highlight the Port of Long Beach’s role in international trade and dedication to social responsibility…
Hili Company, the logistics division of Hili Ventures, has entered into a joint venture agreement with leading international energy logistics company Peterson to provide oil and gas logistics services across the Mediterranean and North Africa…
The Singapore-based offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects…
Concordia Maritime entered into a settlement agreement regarding a dispute associated with Stena Primorsk’s grounding in the Hudson River in December 2012. According to the settlement agreement, Concordia Maritime will pay $9.25 million to the counterparty…
* 402MW project co-developed by Masdar, Statoil and Statkraft expected to start commercial operations by the second half of 2017 * First offshore wind project developed with United Kingdom's CfD incentive scheme to reach financial close…
The FY ’17 Energy & Water Development (E&WD) and Related Agencies appropriations bill has been approved by the U.S. Senate in a 90-8 vote, significantly increasing funding in Fiscal Year 2017 for the U.S. Army Corps of Engineers’ Civil Works Program…
With immediate effect, Kistler is taking over Schatz AG in Remscheid (Germany) and its U.S. sales and service company, Schatz USA, Inc., Holly (MI). This acquisition gives the Kistler Group new potential applications in quality assurance in industrial manufacturing…
Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter,…
Cash-strapped South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection, and will sell off property and businesses worth KRW 2tr ($1…
French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis. The European Commission has approved CMA CGM's $3.38 billion acquisition of NOL…
