Maersk Tankers, a unit of A.P. Moller-Maersk, said on Thursday it had quit four unprofitable crude oil charter contracts by buying out supertankers and selling them onwards, continuing its exit from crude oil transportation.The company now has charters for just two supertankers…
Great Lakes legislators played a key role in yesterday’s vote in the House of Representatives to increase the U.S. Army Corps of Engineers’ national budget by nearly $58 million. Rep. Bill Huizenga (R-Mich.), along with Rep. Janice Hahn (D-Calif…
France has received EU backing for a new decree allowing the government to block foreign takeovers of French companies in strategic industries, Economy Minister Arnaud Montebourg said on Thursday.In a surprise move, the government widened…
FMCS Statement on Labor Negotiations Between the ILWU and Pacific Northwest Grain Handlers.The Federal Mediation and Conciliation Service issued the following statement (PM / 9 July) on the labor negotiations between the International Longshore…
Inchcape Shipping Services (ISS) announced it supported the Sailors’ Society again by entering two teams in the “3 Peaks Challenge 2014”.Both teams were made up of volunteers from around ISS’ global network, and included representatives from Dubai…
EURONAV announces that it has raised $125 million in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav…
Alongside the Wilh. Wilhelmsen group, Wilhelmsen Ships Service (WSS) is now a full member of the Maritime Anti-Corruption Network (MACN) and will be joining the campaign to eliminate corruption across the maritime industry.Speaking as the membership was announced…
At a presentation earlier today the Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families presented a $10,000 gift to Coast Guard Station Fort Pierce, Fort Pierce…
World shares close to peaks, bond yields creep higher ADP report fuels hopes for upbeat non-farm payrolls ECB keeps rates at record low, Draghi expected to stay dovishWorld shares dipped from a record high and the dollar and U…
As freight rates keep declining, cost reductions are the top priority for box carriers.Drewry’s 2Q14 Container Forecaster highlights that there is a widening gap between the positive financials of the few carriers really focused on cutting costs and the rest of the top 20 lines…
A U.S. bankruptcy judge said on Wednesday he will approve Genco Shipping & Trading Ltd's plan to exit its Chapter 11 bankruptcy after he overruled objections from shareholders.Judge Sean Lane of the U.S. Bankruptcy Court in Manhattan said…
Graham Hacon, founder and CEO of 3sun Group,is set to present at a BGF (Business Growth Fund) event next week.In March last year, 3sun Group, secured a £10m investment from BGF following six years of considerable growth and expansion. The…
Germany's closely held Meyer Werft and the Finnish government are nearing a deal to buy the Turku shipyard in southwestern Finland from STX Europe , the Finnish economy ministry said on Monday.STX Europe belongs to Korean STX. The Turku…
'Garnishment' is the legal term relating to the collection of a monetary judgement on behalf of a claimant from a defendant. In the Philippines, this routinely occurs before the case has concluded and is central to the UK P&I Club Members' many concerns relating to crew claims in this jurisdiction…
EXMAR NV today announced that it has closed a $114 million (NOK 700 million) senior unsecured bond issue due in July 2017. All interest and principal payments have been swapped into U.S. dollars at an all in fixed interest rate of 5.72%. The…
