Hornbeck Offshore Services completed the sale of three supply vessels to the U.S. Navy, helping boost profits in the first quarter even as low oil prices put pressure on revenues. In February, the Navy agreed to buy three supply boats from Hornbeck with an option to purchase a fourth…
Euronav delivered its best operating profit in seven years, with a 182 percent improvement, and a USD 80.8 million net profit, thanks to the 15 VLCC supertankers the company acquired from Maersk. Core profit rose 180 percent in the first quarter to $131…
Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus, says a report in Bloomberg. The Hellenic Republic Asset Development Fund, which sells real estate, infrastructure and other government holdings…
The Landing School has developed five scholarships totaling $80,000 for students who wish to have a career in the marine industry but struggle to meet educational financial obligations. These scholarships have an application process where…
China Merchants Energy Shipping has posted 22.6% on-year growth in net profit to Yuan225m ($36.3m) during the first quarter ended 31 March 2015 due to buoyant tanker markets. Revenue for the quarter more than doubled to RMB1.36bn from YuanB660…
Scorpio Tankers has announced a public offering of 15 million common shares, with an underwriter’s option to purchase up to an additional 2.25 million units. New York Stock Exchange-listed Scorpio says it plans to use the proceeds to fund…
Greek ship-owner Costamare and US-based hedge fund York Capital Management are considering extending the life of their investment joint venture that has already spent more than $1 billion on new and secondhand container ships. “Our joint…
On Thursday, April 30, 2015, U.S. National Park Service Director Jonathan B. Jarvis and U.S. Maritime Administrator Paul N. Jaenichen will host a media conference call to highlight projects receiving grants through the Maritime Heritage Program…
Argentina's main grains port of Rosario was paralyzed at midday on Wednesday by an open-ended wage strike by boat captains needed to help dock incoming cargo ships, the country's port management chamber said. At a busy time of the year for exporters…
By focusing on operational improvements, shipping companies are reducing fuel consumption, saving money and cutting greenhouse emissions, while continuing to increase the amount of freight transported. Maersk Line, the world's largest container carrier…
The trend in maritime security is one of growing complacency, the Chief Operating Officer of one of the UK’s maritime security firms has warned. Speaking at the Global Shipping Trends and Trade Patterns conference in London has (April 29th)…
Dan-Bunkering (America) Inc. has announced that a new office in Stamford, Connecticut, will see the light of day as per May 1, 2015. The opening is part of the Dan-Bunkering group’s expansion strategy which was kicked off earlier this year…
The ICL Group's Phoenix Plan is breathing new life into the centuries-old salt and potash mines located in the Bages district of central Catalonia. The project covers various fields, such as building a potash and a vacuum salt plant, new rail…
Cathelco, the world leading manufacturers of equipment for ships, have acquired Hydro-Electrique Marine (HEM) the French specialists in desalinators and water treatment systems.The acquisition will make Cathelco one of the largest producers…
The Company is pleased to announce the appointment of two new independent non-executive directors, Keith Lough and Peter Kallos, to the Board of Cairn Energy PLC.Keith Lough will be appointed immediately following the Company’s AGM on…
