FLEX LNG (HQ in Tortola) is in continuing dispute with Samsung Heavy Industries and briefs its shareholders as follows:'As previously announced, FLEX LNG considers the four shipbuilding contracts and the EPCIC that were entered into with SHI in 2008…
DP World has entered into two transactions to monetise its interests in two container terminals & a logistics centre in Hong Kong. The transactions will see DP World monetise 75% of its interests in CSX World Terminals Hong Kong Limited (CT3)…
Due to an increase in tourism, Egyptian coral reefs are important to its economy: official records show 170 damage incidents.The UK P&I Club has issued the following advisory circular to its members: Vessel groundings are a large threat which coral reefs face…
UK's James Fisher & Sons plc announces its results for the year ended 31 December 2012.Highlights:· Revenue increased by 18%, underlying operating profit by 14% and underlying earnings per share 15%· Strong performance resulting…
Transocean Ltd. announced that certain Funds affiliated with Carl Icahn submitted to the company for vote at its 2013 Annual General Meeting of Shareholders (AGM) a dividend proposal of $4.00 per share. Additionally, the Funds provided a notice…
Mr Dilip Kumar will take up the role of Country Manager for GL Garrad Hassan in India. India is the world's third largest market for wind, with annual installations doubling over the last several years. The reintroduction of a government…
Seaspan Ferries Corporation's installation of shore electrical power (also known as AMP) to receive Government of Canada funding.Shore power is a highly effective way to reduce marine diesel air emissions by enabling ships to shut down their…
Ocean Rig UDW Inc international contractor of offshore deepwater drilling services reports unaudited losses in Q4 & year-end 2912 financial results.Year Ended December 31, 2012 Financial HighlightsFor the year ended 2012, the Company reported a net loss of $132…
Houston-based Oiltanking Partners LP to expand its terminal on the Houston Ship Channel to meet demand to export liquefied petroleum gas.Expansion plans include a new vessel dock and upgrades to existing ones and should be completed by the end of 2014…
'Financing Charters' may now be treated as 'Preferred Mortgages' — The Republic of the Marshall Islands passes Maritime Amendment Act (No. 1), 2013.The Republic of the Marshall Islands’ Nitijela has passed the Maritime Amendment Act (No. 1)…
Port authorities, terminal Operators, shipping Lines, intermodal companies & the financial community to attend upcoming Infocast conference.Conference organizer, Infocast, brings its Port & Intermodal Finance & Investment Summit to Miami, FL on April 16-18…
Kirk & Co. were engaged to assess public & stakeholders opinions regarding measures to ameliorate BC Ferries financial operating losses.BC Ferries operates one of the largest integrated marine transportation networks in the world. Despite…
Wärtsilä Corporation has sold all of its 1.987.940 shares in housing investment company Sato Oyj.Wärtsilä will record a capital gain of approximately EUR 25 million on this sale. The tax on the capital gain is approximately EUR 6 million.Sato…
Vietnam's Ministry of Transport (MOT) propose law be amended to enable scrapping of some 22 Vietnam owned ships flying flags of convenience.According to VietnamNet Bridge a recently released MOT report showed that there are many state-owned and private ships berthed in Vietnam…
CNOOC, China's largest offshore oil and natural gas producer, barred from outright opeation of recently acquired Gulf of Mexico oilfields.The oilfields were acquired by CNOOC through its US$15-billion takeover of Canadian firm Nexen.The…
