China Ocean Shipping Group Co (COSCO) returned to profit in 2014 after three years of losses, state media said on Saturday, citing an interview with the group's chairman.The state-backed shipping conglomerate, which controls China COSCO Holdings Co Ltd…
Brent crude was buoyed on Friday by market uncertainty over the future of Saudi oil output, while U.S. crude fell on more signs of oversupply.Saudi Arabia's new king, Salman, who took the throne on Friday morning after the death of his brother Abdullah…
Nils Andersen, chief executive of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western companies are looking to manufacture more goods closer to home, says a report in the Financial Times…
Rising competition from fast growing private sector ports is forcing government-controlled major ports to re-invent themselves, reports Business Standard. Slowdown in India's international trade is adding to the woes.The government-owned port…
Chevron Corporation today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea…
Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12…
Essar Ports Ltd. a part of Essar, today announced its unaudited results for the quarter ended 31st December 2014.Highlights of Consolidated Results:Revenue for the quarter stands at Rs. 434.3 cr, an increase of 9% over corresponding quarter in FY14…
The European Union's second highest court on Thursday annulled EU sanctions on an Iranian bank and 40 shipping companies hit with asset freezes as part of pressure on Tehran over its nuclear programme. But they will remain under sanctions…
Belgian dry bulk shipping group CMB on Thursday said markets would remain volatile after a disappointing 2014 in which falling commodity prices reduced stock building by clients. The group added that freight rates would come to a sustainable…
The appointment of Tim Marsh as senior vice president sales and marketing by Canadian Pacific Railway Ltd is aimed at bolstering its battered intermodal business, says a report from Globe and Mail.Marsh, who brings 25 years of international shipping industry sales and marketing experience…
Bunkering rose again for the first time since 2011 in Rotterdam, the biggest bunker port of Europe: 10.6 million tonnes compared to 10.4 in 2013. The whole of the increase is accounted for by marine gas oil and diesel; sales rose from 500…
The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1990-built Very Large Gas Carrier “Jag Vidhi” (49,701 dwt) to the buyers on 21st January, 2015. The company had contracted to sell the ship in July 2014. After the delivery of the vessel…
In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers. JSEA member yards secured 24 export orders totaling 1,215,100gt in December…
There are only 20 days to the end of entries in Journalism Award Petrobras. Will cover the best national and regional articles published in newspaper / magazine, television, radio and news portal in the areas of Culture, Sports, Social Responsibility and Oil…
Adrian Bannister has been appointed as chief financial officer (CFO) of the OEG Offshore group of companies.Bannister will assume responsibility for the group's global finance team activity, including accounting, taxation, regulatory and reporting matters for OEG worldwide…
