The Greek economy’s foreign currency revenues from shipping activities expanded 9.04 percent last year from 2013, reaching 13.18 billion euros, in spite of the country's financial woes, according to the annual report of the Association of Greek Shipowners (EEE)…
Directors of the 170 million GT, ‘A’ rated North P&I Club and Sunderland Marine Insurance Company (North Group), have confirmed growth in the free reserves in the year to February 20, 2015, despite experiencing a large number of high-value claims and a further pension deficit charge…
Construction at the new £300 million ($500 million) container terminal being built at the Port of Liverpool has reached an advanced stage. Work to reclaim 12 hectares of land has passed the first stage with further infilling due to take place over the summer…
Victoria International Container Terminal Ltd (VICT) recently presented Albert Park College with a AUD150,000 grant from VICT’s Community Investment Fund to fit out and resource a new Marine Research Centre at the school’s Environmental Arts Hub in Port Melbourne…
Poseidon Containers Holdings, a private equity backed containership operator with an initial fleet of 18 vessels, has filed for an initial public offering. It plans to raise $100 million, which is likely only a placeholder as Poseidon…
The Houston-based NASDAQ-listed drilling contractor Hercules Offshore Inc. (HERO) has entered a restructuring agreement with a noteholder group, and expects a prepackaged reorganization plan. HERO says the agreement will convert $1.2B of debt to new common equity…
United Shipbuilding Corporation (USC) has taken on 53.5122% of the voting shares of the long planned Far Eastern Plant Zvezda shipbuilding complex in Russia’s Far East. Zvezda (a company of the Far Eastern Shipbuilding and Ship Repair Center…
Port Manatee is adding a 2-acre cargo pad to support storage of prilled sulphur, a new commodity for the Florida Gulf Coast port. Under an agreement signed Tuesday, June 16, with longtime port tenant Gulf Coast Bulk Equipment Inc., construction…
Moody's Investors Service has changed to stable from negative the outlook on the B2 corporate family rating (CFR), the B2-PD probability of default rating (PDR) and the Caa1 senior unsecured rating of Hapag-Lloyd AG. Concurrently, Moody's has…
National Oilwell Varco Inc., the largest U.S. oilfield equipment maker, said it will cut its Norwegian workforce by 1,500 by the end of this year as low oil prices have reduced investments. It plans to cut 900 permanent jobs and 600 contractors…
Euronav has entered into an agreement for the acquisition through resale of four VLCCs which are completing construction at Hyundai Heavy Industries for an aggregate purchase price of $384 million or $96 million per unit. The vessels are due to be delivered as early as September 2015…
PETRONAS achieved another milestone with the official steel cutting of its second floating liquefied natural gas facility, the PETRONAS Floating LNG2 (PFLNG2) in a ceremony held on 11 June 2015 at the Samsung Heavy Industries (SHI) Shipyard in Geoje Island…
Norstar Ship Management, the Singapore-based ship manager, has opened a crewing office in Yangon, Myanmar named “Norstar Crew Management Company Limited”. The office was formally opened by Mr Muang Muang Oo, Myanmar’s Director General of…
Holland America Line has promoted Gerald Mosslinger to vice president, food and beverage, as part of the renamed Guest Experience and Product Development Department that was formerly the Marine Hotel Operations Department. The cruise line…
The Maritime Transportation Research and Education Center, based at the University of Arkansas, has received a federal grant of $923,700, reports AP. The center, known as MarTREC, is a consortium of researchers focused on maritime and multimodal transportation research…
