Shares of Cosco Group and China Shipping have taken a hammering on the stock markets as two major companies lost about $900 million in total market value after the government proposed combining its two key ocean liner groups, reports Bloomberg…
CMA CGM SA has bought about 3.68 million shares of Singapore-based Neptune Orient Lines (NOL) on the open market at S$1.22 per share. The shares purchased make up 0.14 per cent of NOL's issued share capital, reports Straits Times. The purchase…
Bulkcarrier investors are generally an optimistic lot, with little time for pessimistic analysts, says a research report by Clarksons. They know that however gloomy the forecasts, some time they will make a nice profit. After all, the ships last 30 years…
South Korea's big three shipbuilders - Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. - may miss this year's order targets as a global economic slump and lower oil prices sharply reduce shipbuilding demand…
CMA CGM vice-chairman Rodolphe Saade said that his company was the first ones to initiate the discussions with NOL and Temasek and it made sense to them, that is why they carried on with the discussions, according to a report in The Straits Times…
Global Ship Lease, Inc has completed the sale of its 1997-built, 4,113 TEU containership, Ville d'Orion, following redelivery from its previous charter. The vessel was sold for $328.25 per ldt, for estimated net proceeds of $4.5 million…
California State University Maritime Academy alumni rank very high on the nation’s pay scale, according to a new study examining the earnings of recent graduates. Among 1,400 four-year colleges and universities across the U.S., Cal Maritime…
The Indian Union Cabinet chaired by the Prime Minister Narendra Modi has cleared a Rs.4,000-crore ($615 mln) package to spur India’s ship building industry, combined with a slew of incentives. The sops include the right of first refusal on all government purchases for Indian shipyards…
Christopher Jones has joined Metro Group Maritime, the New York headquartered commercial receivable management, debt recovery and consulting company focused on the maritime and transportation industry. Jones, formerly with Safmarine, a unit of Maersk Line…
KPI Bridge Oil, a global trader and broker in marine fuels, marine lubricants and risk management products, has opened a new office in Athens, Greece. The new venture comes as part of the group’s broader growth strategy and desire to further develop its key markets…
Hempel A/S announces that Anders Boyer-Søgaard, CFO and member of Executive Management of GN Store Nord A/S, will succeed CFO Kim Junge Andersen who will join Rockwool as CFO as per January 1, 2016.In 2007, Anders Boyer-Søgaard joined…
More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, Bloomberg reported quoting a research released from the consulting firm AlixPartners. Even before crude…
Copenhagen-headquartered gas tanker carrier Evergas has just ordered four ethylene/ethane newbuildings, with an option for two more. The contract for the four newbuildings, each sized 32,000 cu m, has also been signed by Hong Kong engineering company JHW Engineering & Contracting…
Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector, has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels. The vessels were sold for an aggregate…
Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers…
