Aker Philadelphia Shipyard AKPS), a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market, has on July 25, 2014 purchased 1,465 shares in the Company on Oslo Axess at an average price of NOK 158.68 per share…
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand…
Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative, launched by IMPA, International Marine Purchasing Association…
Wärtsilä to divest its shares in QMD two-stroke joint ventureWärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine diesel engines…
Royal Caribbean Cruises Ltd's quarterly profit beat analysts' average estimate as demand for its European and Chinese cruises increased and passengers spent more on board, helping it raise its full-year profit forecast.Shares of the world's second-largest cruise operator rose as much as 9…
Scottish marine specialist Maritime Assurance & Consulting (MAC) said it has taken the next significant step in the company’s growth strategy with its first appointment in the U.S.Chad Fuhrmann joins the Aberdeen-based firm as Business Director…
The American Boat & Yacht Council (ABYC) is now offering a new membership category designed for insurance companies and law firms operating in the marine industry. Since settling disputes, assigning subrogation, various litigation scenarios…
Claxton Engineering Services, an Acteon company, has appointed Martin Jolley as vice president sales and commercial to spearhead its global sales and commercial strategy. Providing leadership and vision to direct the company’s sales, marketing…
Port of Boston is Vital Economic Engine and Job Generator for Region.The Port of Boston generated $4.6 billion in 2012 and more than 50,000 jobs are supported by the port, including more than 7,000 direct jobs, according to a report released by the Massachusetts Port Authority (Massport)…
Italy's navy said it rescued nearly 1,800 migrants in overcrowded boats in the Mediterranean over the weekend, and a merchant ship recovered five bodies from a sinking rubber raft off the coast of Libya.Calmer summer seas have led to a surge in people trying to reach Italy from North Africa…
Ince & Co’s London and Hamburg business and finance teams worked with global investment banking firm Jefferies LLC in advising a group of major shipowners with vessels on long-term charter to Israeli box line ZIM on its $3 billion restructuring…
Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data.Petroleum engineers were paid an average of $132…
The founder of Kurdistan-focused oil company Gulf Keystone, Todd Kozel, has stepped down from the its board, the company said at its annual general meeting on Thursday, giving in to shareholder pressure.Gulf Keystone also announced that…
While airports, ports and GARVEEs are holding steady, according to several new Fitch Ratings reports, increasingly, state and local governments are realizing the benefits of risk transfer, cost certainty and asset preservation through public-private partnerships (P3)…
The full economic impact of the U.K. marine industry and spend associated with boating participation was estimated to total £6.2 billion in 2012/13, according to a new report released by the British Marine Federation (BMF). Latest industry trends…
