After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea. A total…
Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said. The judicial manager appointed to oversee the bankruptcy of Mercator…
Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents. The operator of contracted crude oil tankers posted revenue of $25…
Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years. Norfolk has assured shareholders that despite weak carload volume and tumbling…
The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address…
The Montreal-based Canadian National Railway (CN) reported a higher fourth-quarter profit and raised its dividend, bucking a weak trend among major North American railroads. However, it has given an uncertain but far rosier outlooks for…
Merger creates significant opportunities for candidates, clients and contractors. Air Energi Group Limited and Swift Worldwide Resources Limited have merged to form Airswift Holdings Limited, a $1.2bn turnover company specialising in global workforce solutions for the energy…
Norwegian oil major Statoil expects to have between 20,700 and 21,000 employees and consultants working for it by the end of 2016, down from 25,500 at the height of the crude price boom, the company said on Tuesday.'This corresponds to a…
International Container Terminal Services, Inc.’s (ICTSI) US$450 million perpetual capital securities issue was recently recognized as the Philippines’ best corporate bond at the The Asset Triple A Country Awards 2015. ICTSI issued last…
General Dynamics Electric Boat expects to hire nearly 4,000 people in the coming years as it ramps up production on Navy submarines, the Associated Press reports. Electric Boat is projecting a positive outlook for 2016 for revenue and employment…
Liquefied natural gas (LNG) price from Norwegian company Statoil ASA for Lithuania is set to fall by more than one-third and the Klaipeda LNG terminal's maintenance costs are to decline by around 23% after Lithuania's gas trade company Litgas…
Oilfield services giant Schlumberger is entering Ophir Energy’s Fortune floating liquefied natural gas (LNG) project off Equatorial Guinea after agreeing a preliminary deal with the UK player for a stake in the development. The non-binding…
Following the allegations made on December 17, 2015 by the Brazilian Public Prosecutor's Office (Ministério Público Federal - 'MPF') regarding SBM Offshore's CEO, Mr. Bruno Chabas, and a member of the Company's Supervisory Board, Mr. Sietze Hepkema…
A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL…
China Shipping Container Lines (CSCL) has released a profit warning stating that it expects to close the financial year 2015 with a net loss of about 2.8 billion yuan (425 million dollars) compared to a profit of over one billion yuan recorded in 2014…
