NYK Line (China) Co., Ltd. has donated 30 bunk beds and some sports supplies to NYK Wangping Middle School, which is located in the rural area of Luoyang in Henan province. On October 21, Yuji Isoda, a corporate officer at NYK and the company’s chief representative for China…
The builder of luxury yachts Grand Banks Yachts swung to a net profit of $1.2 million for the first quarter ended Sept 30 compared to a net loss of $1.3 million for the year-ago period. Following restructuring efforts after a major acquisition…
Maersk Oil, part of Danish conglomerate A.P. Møller-Maersk A/S, will cut 10% to 12% of its workforce as part of a plan to reduce operating costs by a fifth by the end of next year, amid weak oil prices. The oil business of Danish conglomerate sets to cut 1…
Oslo-listed Siem Shipping reported a net profit of USD2.5 million (Q3 2014: net loss USD-0.2 million). The container lines are continuing to use very aggressive pricing strategies to win market share in the reefer segment. The specialist…
Global oil sector has cut 200,000 jobs in downturn.Renewables are powering a rare bright spot in the energy industry, with record job hiring in solar, wind and hydro partly offsetting the biggest round of job losses in the oil and gas sector in almost two decades…
Hindustan Shipyard Limited (HSL) may sell its bulk carrier under construction at the yard to the Indian Navy, reports the Hindu. Goodearth Maritime Limited (GML) has failed to settle its dues for nearly a year after placing the order under Diamond Series of 53…
Freight rates for very large crude carriers (VLCCs) could face drop further next week on excess tonnage supply and lower cargo volumes, reports Reuters. A Singapore based VLCC broker said that there’s no upside. Rates will either be flat or on the downside…
The Commission voted at its meeting 22nd October to issue a final rule on ocean transportation intermediary (OTI) licensing and financial responsibility requirements, and directed staff to prepare an advanced notice of proposed rulemaking…
UK headquartered shipbroker Century Marine Services has been the victim of a sophisticated fraud by a Dubai based firm calling itself Matin Marine Services. Despite having no business relationship with Century Marine Services, Matin Marine…
Brazil’s Parliamentary Commission of Inquiry (CPI) has recommended the deepening of investigations into 10 companies - including Keppel, SembCorp Marine and Kawasaki Heavy- involved in the alleged bribery transactions with Petrobras and Sete Brasil…
Daewoo Shipbuilding & Marine Engineering Co. (DSME) is expected to log an operating loss of over 5 trillion won (US$4.4 billion) this year, up by some 1 trillion won from previous forecasts, reports Yonhap. The outlook follows a recent audit by the state-run Korea Development Bank (KDB)…
Shipbuilding and dry bulk shipping company Cosco Corp (Singapore) expects to post a loss in the third quarter ended September 30, 2015 compared to a profit recorded in the same period a year earlier. The financial pain comes on the back of the offshore slump…
Greek ship owner DryShips plans to add six support vessels to its fleet by acquiring a large stake in Nautilus Offshore Services. Dry bulk shipowner DryShips has entered into an agreement to acquire approximately 98% of Nautilus OffShore Services Inc…
Press release - Like many other goods-movement interests, America’s seaports are pleased to see new freight provisions contained in the Surface Transportation Reauthorization & Reform Act of 2015 (STRR; H.R. 3763), which House Transportation…
Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters…
