Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash.Star Bulk Carriers Corp…
Transport Canada informs that the Honourable Lisa Raitt, Minister of Transport, has spoken of the important role Canada's marine ports play in supporting trade and economic growth in a speech to the 56th annual conference of the Association of Canadian Port Authorities…
A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. 1.TSA (Transpacific Stabilization…
The Shipowners’ Club marked the conclusion of Donald MacLeod’s six year tenure as Chairman with a Board meeting in his home town of Halifax, Nova Scotia, as well as a reception there for local Members and brokers. Philip Orme was appointed to…
Tanker Shipping: Crude oil tankers out-perform their oil product peers in a market full of surprisesDemandSome time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market…
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust) has generated a profit of $1 million for the 2Q of the 2014 financial year. This profit compares to a $7.2 million loss for the 2Q’s corresponding previous year…
The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2013 results, which show continuing growth, with worldwide sales increasing by over 12% to £65 million and pretax profits up 28% from £16…
Macro Economics: Take nothing for granted; we need reforms to improve economic performanceGlobal economyThe International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the U…
An Indian Master, Capt Sukhvinder Bhamra, was sailing onboard the MSC Vanessa when he received an email from Mr Abdul Gani Serang of the National Union of Seafarers of India (NUSI) on the hardships faced by Mr Aman Sharma, recently released from captivity as part of the MV Albedo crew…
Evolving Needs of Private Equity Clients Inspire Move. Seward & Kissel LLP has announced that veteran finance attorney John Imhof has joined the firm’s leading Maritime and Transportation Finance practice in New York.Mr. Imhof, who comes to Seward & Kissel from Watson…
Bonds of oil and gas pipeline company Kinder Morgan Inc rallied Monday on expectations that its credit ratings would be boosted to investment-grade following a US$70bn deal to bring all of its publicly traded units into one group.Kinder Morgan's 5% February 2021 bonds jumped to 107 from 101…
Q2 group adjusted EBITA 65 mln euros vs 93 mln last year. Power division EBITA drops to 9 mln euros; shares up 4.9 pct, top performer on MDAX. German industrial services group Bilfinger, whose chief executive resigned last week after two profit warnings…
China's buoyant exports pushed its trade surplus to a record in July, fuelling optimism global demand will help counter pressure on the domestic economy from a weakening property sector.While manufacturing appears to have picked up in the world's second-largest economy…
Eni to cut over 50 pct of refining capacity; could cut excess Europe capacity by a quarter. Unions fear eventual job losses.Plans by Italian oil major Eni to slash its refining business by more than half could squeeze out a quarter of Europe's refining overcapacity…
Johnston Carmichael, one of Scotland’s Chartered Accountancy and business advisory firms, is launching a service designed to help contractors unlock cash in their limited companies, which launches today, August 6.Contractor MVLs has been designed around a Members Voluntary Liquidation (MVL)…
