Neptune Orient Lines (NOL) reported a 2014 net loss of $260 million today, marking the third consecutive year in the red for the Singapore-based global shipping company.NOL, parent company of APL, did reduce its 2014 fourth quarter Core EBIT (Earnings Before Interest…
A unit of one of the world's biggest cruise operators sought to reassure Italy on Friday that plans to transfer some of its operations to Germany did not mean it would move abroad. Costa Cruises, part of Carnival Corp, is based in the northern Italian port of Genoa…
When Ian Sandlin was laid off last week after 13 months working on oil rigs in southeast Texas, he was surprised to have lasted that long. 'I knew it was coming,' he said. 'I wasn't the first to be let go.' The 27-year-old Houston native…
Two companies are no longer allowed to operate as bunker suppliers and bunker craft operators in the Port of Singapore. The Maritime and Port Authority of Singapore (MPA) has revoked the bunker supplier and bunker craft operator licenses…
Electromagnetic Geoservices ASA (EMGS) will receive uplift revenues of USD 2.5 million related to the licensing round for mature areas on the Norwegian continental shelf - Awards in Predefined Areas (APA). EMGS' multi-client data library in Norway now covers 44…
Hafnia Tankers Ltd have entered into an agreement to acquire 4 LR1 product tankers.This acquisition confirms the commitment of Hafnia Tankers and its stakeholders to further expand the business within the product tanker segment.The vessels are: Kihada – to be renamed Hafnia Africa…
Secretary of the Navy Ray Mabus has issued Secretarial Letters of Censure to three senior officers following a thorough review into their interactions with Glenn Defense Marine Asia (GDMA) in the 2006-2007 timeframe. GDMA is the subject of a…
Royal Boskalis Westminster N.V. (Boskalis) has sold its road maintenance company Aannemingsbedrijf De Jong en Zoon Beheer B.V. and the associated De Jong subsidiaries (De Jong) to the management and Foreman Capital. The De Jong activities…
Royal Dutch Shell Plc and the United Steelworkers union (USW) negotiated for hours on Tuesday over a new labor contract for U.S. refinery workers, the company said on day 10 of the biggest refinery walkout since 1980.They have been unable to agree since this year's talks started on Jan…
NewLead Holdings Ltd. has succeeded in growing the fleet of the Company from two to ten vessels in less than one year following its growth strategy and delivering on its commitments.NewLead's fleet has been entirely transformed to include younger…
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, today said it had commissioned a bulk terminal at Tuna Tekra, Kanda Port, with an annual handling capacity of over 20 million tonnes…
As the Indian economy shows signs of green shoots Bertling Logistics India Private Ltd., the country's only project logistic multi-national has etched out strategic plans to consolidate its multifarious activities in order to gear for a major…
Teekay LNG Partners L.P. plans to release its financial results for the fourth quarter and fiscal year of 2014 before market open on Thursday, February 19, 2015.The Partnership also plans to host a conference call on Friday, February 20…
Seafarers’ House is pleased to announce the launch of its Legacy League Endowment with a goal to reach $1 million.The Fort Lauderdale-based nonprofit organization began its fundraising efforts in mid-October with gifts from Charter Members of its Legacy League totaling more than $150…
IEA report sees a transformed market, with supply more responsive to prices than in the past – and demand less so The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand…
