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…
COSCO Group achieved net profit attributable to equity holders of $105.7 million on turnover of $3.7billion in 2012.Group turnover decreased 10.3% to $3.7 billion in 2012 from $4.2 billion in 2011 owing to a decrease in shipyard and dry bulk shipping revenue…
International Shipholding Corporation closes public offering of $25 Million of its 9.50% Series A cumulative redeemable perpetual preferred stock.Dividends will be payable on the Series A Preferred Shares at an initial rate of 9.50% per annum of the stated liquidation preference when…
The National Retail Federation today issued the following statement from Vice President for Supply Chain and Customs Policy Jonathan Gold on the ratification of a contract between the International Longshore and Warehouse Union Local 63 Office…
Admiral Jonathan W. Greenert Stresses Need for Flexible Platform Use in Future Navy. February 21, 2013, Crystal City, VA – The U.S. Navy’s Chief of Naval Operations (CNO) Admiral Jonathan W. Greenert stressed the need for industry and the navy to work closer moving forward…
Nigeria Liquefied Natural Gas Company (NLNG) $1.6 billion bank loan on the cards.The company, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, told Reuters a year ago it had contacted global banks to appoint advisers to explore the best option to raise funds…
Genco Shipping & Trading Limited reports its financial results for the three and twelve months ended December 31, 2012.Financial Review: Full Year 2012The net loss attributable to Genco was $144.9 million or $3.47 basic and diluted loss per share for the year ended December 31…
Pacific Drilling S.A. sign a $1 billion senior secured credit facility agreement to finance construction of the Pacific Sharav & Pacific Meltem.The term loan made pursuant to the credit facility will have a maturity of 5 years from the delivery date of the Pacific Meltem…
In a special meeting called to consider this proposal, the Executive Committee of Waterways Council, Inc. unanimously voted to support The Reinvesting in Vital Economic Rivers and Waterways (RIVER) Act of 2013, has announced by its sponsor…
Executive claims 'Carnival Triumph', 'Carnival Splendor' & even 'Costa Condordia' are but the 'Tip of the Iceberg'.World City America Inc., president, Stephanie Gallagher asks when will U.S. politicians and reporters ask the right questions about this non-U…
The International Chamber of Shipping (ICS) notes that, for all but the smallest ships, the Suez Canal toll increases range from about 3% to 5%.ICS secretary general, Peter Hinchliffe, remarked: “Most international ship operators are trading…
Port of Rotterdam will be the first in the world to reward ocean-going LNG tankships holding Green Award Certificates.The Port Authority will give these ships 6% discount on port dues when they arrive in Rotterdam. LNG tankers have been calling…
NBGI brings Cosalt’s Aberdeen and Norway businesses into its stable alongside ATR Group as it builds global provider of offshore equipment and lifting servicesNBGI Private Equity, investor in Aberdeen-based ATR Group, is acquiring the Aberdeen and Norway operations of Cosalt Offshore…
Aker Solutions ASA release fourth quarter and preliminary annual results 2012.Aker Solutions reported revenues of NOK 12.0 billion and earnings before interest, tax, depreciation and amortisation of NOK 1.2 billion in the fourth quarter of 2012…
