Royal Caribbean Cruises Ltd, the world's second-largest cruise operator, said its quarterly profit fell by two-thirds as costs rose and six cruises were canceled or shortened due to several mishaps.Shares of the company, whose cruise lines include Royal Caribbean International…
Moore Stephens emphasizes high cost to shipping of environmental regulatory complianceInternational accountant and shipping adviser Moore Stephens said that finding enough money to remain compliant with environmental regulation is going…
The International Maritime Organization (IMO) informs that substantially increased limits of liability for the death of, or personal injury to, a passenger on a ship apply from 23, April 2014, according to the Athens Convention relating to the Carriage of Passengers and their Luggage by Sea…
Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business…
More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off, Bente Nyland, the head of the Norwegian Petroleum Directorate said on Thursday.Most vulnerable will be small fields…
Genco Shipping & Trading Ltd said it filed for prepackaged Chapter 11 bankruptcy protection after struggling with weak rates due to an oversupply of vessels.The drybulk shipper said it expected its operations to continue normally and did not require debtor-in-possession finance…
The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims, Kyodo news agency reported on Monday.A…
InterManager, the international trade association for the ship management industry, says it has welcomed the adoption of new measures to protect seafarers against abandonment.Amendments to the Maritime Labour Convention 2006, agreed at a meeting…
Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday. If the police probe leads to criminal charges against Batista…
Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s.Ship owners ordered large numbers of vessels between 2007 and 2009…
Overseas Shipholding Group, Inc. (OSG) lets it be known that U.S. ownership of its common stock at the close of business on April 15, 2014 was 77 percent: the minimum percentage of shares that must be owned by United States citizens in order to preserve the status of OSG as a Jones Act company…
Rising Ukraine tensions heighten fears over Russian supply New U.S. unemployment claimants near 6-1/2 year low Brent crude oil was steady below $110 a barrel on Thursday, after hitting a six-week high in the previous session…
Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit, on 14 April 2014, of an instrument of ratification by Denmark, with the International Maritime Organization (IMO)…
A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts, reports trade association Maritime London.Indemnity insurers…
Benchmark Brent oil rose slightly on Tuesday after news that Ukrainian armed forces launched military operations in the east of the country, but crude futures encountered headwinds from the prospect of rebounding oil exports from Libya and the expiration of the front-month contract…
