Aker ASA has acquired 16,440,000 shares in Aker Solutions ASA at a price of NOK 115 per share. The shares were acquired after close of markets yesterday through an accelerated book-building process managed by ABG Sundal Collier Norge ASA and Arctic Securities ASA…
Descartes Systems Group, a global company in uniting logistics-intensive businesses in commerce, has announced that Edward J. Ryan has been appointed as Descartes’ Chief Executive Officer, in accordance with its leadership succession plan. Mr…
Rotterdam-based law firm AKD said a recent decision in the Dutch Court of Appeal substantially extends the jurisdiction of Dutch courts following a ship arrest. In the case of the Hero (HSH Nordbank vs Hero Shipping) the court ruled that the 1952 Arrest Convention applies to all vessels…
Prices 8.13 Mln Public Share Sale at Discounted $8/Share Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share…
FMC Commissioner William P. Doyle, addressed the Executive Committee of the National Lieutenant Governors Association (NGLA) in Little Rock, Arkansas: Topic – 'Is Your State Ready for a Historic Transformation of Transportation, Energy, & Agriculture…
Maritime Payment Solutions, LLC – Program Manager of ShipMoney for Crew and ShipMoney for Captains announced that it has signed a Norwegian Ship Management Company that operates a fleet of dry cargo vessels, offshore supply vessels and bargesadding…
AIG Commercial Asset Finance (AIGCAF) and its affiliates have provided a $400 million loan for vessels owned and operated by Nautical Solutions, LLC, which is an operating unit of Edison Chouest Offshore (Chouest). Proceeds from the loan were…
The board of directors of Keppel Corporation Limited announced that Chan Hon Chew has been appointed to succeed Loh Chin Hua as Chief Financial Officer with effect from February 1, 2014.Mr. Chan, 48, has been with Singapore Airlines Limited…
Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation, has introduced H.R. 3475, the Cruise Vessel Consumer Confidence Act of 2013…
Port of New Orleans President and CEO Gary LaGrange will deliver the 27th Annual State of the Port address tomorrow at a luncheon at the New Orleans Marriott Convention Center. The speech is hosted by the International Freight Forwarders and Customs Brokers Association of New Orleans…
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) entered into an agreement with Carl Icahn and certain investment funds managed by Mr. Icahn. Under the terms of the agreement, Transocean's Board of Directors has agreed to propose and support at…
Matson Signs Contract With Aker Philadelphia Shipyard For Two New 'Aloha Class' Containerships, First Ship To Be Named The Daniel K. Inouye.Matson, Inc., a U.S. carrier in the Pacific, announced today that its subsidiary, Matson Navigation Company…
The governing bodies of the International Oil Pollution Compensation Funds (IOPC Funds) held recent meetings at the Headquarters of the International Maritime Organization (IMO) in London, and decided to wind up the ground-breaking 1971 fund which has since been replaced by the 1992 protocol…
A study by the International Criminal Police Organization, United Nations Office on Drugs and Crime and World Bank attempts to understand the illicit financial flows from pirate activities off the Horn of Africa. The study focused on: Djibouti…
WEG Electric announced investments of $345 million over the next five years for the expansion and increased production in both Mexico and China.The existing manufacturing complex in Mexico will benefit from expanded production capacity as well as increased vertical integration…
