U.S. Judge Carl Barbier granted final approval on Monday to BP Plc's civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states…
Industry recognizes the need to invest in its people like never before. But are the skills and headcount there? It’s hard to look forward to 2016 without reflecting back on 2015. What an ‘interesting’ year it was. As maritime recruiters…
A group of 26 institutional investors has issued a summons against bankrupt Danish ship fuel supplier OW Bunker in the latest stage of a legal campaign for allegedly misleading them in its 2014 initial public offer (IPO). The investors had said last year they would sue Bunker…
Dry bulk sector revisits 1980s lows and faces uncertain longer term outlook; with the market near bottom, attention is turning toward the length of the downturn, the effect on asset values and the impact of broader demand side changes. In terms of annual average fleet employment rates…
Further expected container shipping liner losses throughout the first half of 2016, exacerbated by the awful prevailing spot and contract freight rates will lead to a major trigger point at some stage later this year. This will happen either…
ABB to deliver advanced integrated automation and electrical solution for largest Italian public work project of the last century.ABB will supply the complete integrated electrical and automation system for Mo.S.E. (the Italian acronym for experimental electro mechanic module)…
Subsea services provider to the oil and gas industry Bibby Offshore (BOUK) has secured a multimillion pound contract with a North Sea Operator, to deliver decommissioning operations in the Northern North Sea East Shetland Basin. The agreement…
Johan Sverdrup is by far the largest ongoing project on the Norwegian Continental Shelf for the next few years. Statoil has awarded contracts to DNV GL for verification of all 4 topsides, the 3 bridges, 3 of 4 jackets, topside installation by…
Kvaerner has signed a framework agreement with Statoil, on behalf of Partners, for upgrading of the Njord A semi-submersible platform. At the same time, Statoil has made the first call-off from the framework agreement with an estimated value of NOK 120 million…
Royal Boskalis Westminster N.V. (Boskalis) has concluded the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH. The transaction price of EUR 70 million has been financed from Boskalis' own cash.With the transaction Boskalis acquires the equipment…
Russian tanker player Primorsk International Shipping has dropped its restructuring plans in favour of pushing through asset sales, reports WSJ. This is what Primorsk's lawyers told a bankruptcy court in Manhattan on Friday. Creditors have until Wednesday to object to the motion…
The National Shipping Company of Saudi Arabia (Bahri) has inked a Murabaha Facility Agreement with Riyad Bank over the weekend to fund an order for five very large crude carriers it made with Hyundai Samho Heavy Industries. The Islamic…
National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers.The facility lasts for a period of 10 years and six months…
GAC has been confirmed as the official logistics partner for the Abu Dhabi Desert Challenge (ADDC) international cross country rally for the second year running.The repeat partnership will see GAC support rally participants with a portfolio…
Dynagas LNG Partners LP enters into new long-term time charter agreements for two of its LNG carriers and maintains current level of cash distribution following its latest drop down from its Sponsor Monaco – March 31, 2016 –Dynagas LNG Partners LP…
