Coast Guard Commandant Adm. Bob Papp delivers State of the Coast Guard Address.U.S. Coast Guard Commandant Adm. Bob Papp delivered the 2013 State of the Coast Guard Address at the National Defense University at Fort Lesley J. McNair in Washington…
Coast Guard & Maritime Transportation ranking member Garamendi warns resources will be severely slashed, significantly hampering maritime commerce.During the House Coast Guard and Maritime Transportation Subcommittee hearing yesterday, Ranking…
Maersk Line announce that they find it necessary to implement general rate increases from the base rate.The new container freight rates will be effective 1, April 2013 as follows:US to Northern EuropeGeneral Rate Increase: USD 200/300/300/300…
On February 6, 2013, President Obama traveled to Newport News, Virginia to tour the shipbuilding site and address the impact of the looming sequester. A video of The President’s speech can be seen here: The President's complete remarks are transcribed below (from www…
Crystal Cruises reports a 38% increase in advance bookings & an increase of $93 million in revenue over the same time last year. The cruise line says it kicked off 2013 with 'Book Now Fares', direct mail increases, strong travel agent promotional support worldwide…
Tax changes to encourage growth in the UK oil & gas sector have led the industry to make its highest investment for more than 30 years.According to the recently published Oil & Gas UK, 2013 Activity Survey, thousands of jobs are now being…
Shipbuilders, Fincantieri, publish its 2012 financial results; announce resignation of Chairman Corrado Antonini.Highlights:· Profit for the year in excess of euro 15 million (euro 9 million in 2011);· EBITDA at euro 137 million (euro 138 million in 2011) with a margin of 5…
Maersk Drilling release its financial summary statement for year 2012.With high contract coverage for the coming years and the delivery of seven new large rigs in 2013-2015, Maersk Drilling says it is on track towards to reach its target of a profit of USD 1 billion by 2018…
Highlights Adjusted EBITDAR of $232.1 million for the year -- a 33% increase over prior year Operating income of $61.1 million for the year -- an increase of $57.4 million compared to prior year Cash generated from operating activities of $65…
Container shipping & logistics group Neptune Orient Lines (NOL) publishes it year 2012 financial report.The Group posted a full year net loss of US$419 million, mainly due to a first quarter net loss (before non-recurring items) of US$255 million and one-time charges of US$108 million…
Singapore-based Otto Marine Limited informs of two applications by creditors to wind up its Reflect Geophysical Pte Ltd.At the hearing on the two applications to wind up Reflect filed by two of Reflect’s creditors with the Singapore High Court held on 22 February 2013…
Dockwise publish audited annual accounts for 2012, having earlier published an unaudited version.The unaudited 2012 results were first disclosed as part of the publication by Dockwise of the Q4 2012 results on 13 February 2013.Performance…
Foreign seafarers are being left stranded in British ports after their shipping companies flounder on the brink of bankruptcy.HM Courts and Tribunals Service said there were 42 warrants of arrest executed in the UK in 2011, up from 34 in 2010…
Group’s 4Q 2012 performance improves 75%; meets cost saving goal of US$500 millionGlobal container shipping and logistics group Neptune Orient Lines (NOL) reported fourth quarter 2012 Core EBIT (Earnings Before Interest and Taxes) loss of US$69 million…
ABB to fund 40 research projects at universities worldwide that will shape the future of power and automation.The ABB Research Grant program is intended to support promising graduate students and senior researchers who are researching projects…
