Mercator Lines (Singapore) agrees to sell its 279,022 dwt VLOC 'Sri Prem Putli'.The vessel was built in 1993 and converted from Very Large Crude Carrier (VLCC) to Very Large Ore Carrier (VLOC) in 2009.The Vessel is expected to be delivered to its buyers in March 2013…
The North of England P&I Association (North P&I Club), a leading marine insurance association, has donated £3,000 to fund life changing sailing expeditions for young people in Northern England.Staff at the Newcastle based insurers chose to donate the funds to Ocean Youth Trust North…
ITIC says P&I correspondents are coming under increasing pressure from clubs and from third parties to ensure that they have taken out professional indemnity insurance. In the latest issue of its newsletter, The Wire, ITIC says it is aware…
EnQuest PLC, UK North Sea oil producer, has secured a brownfield tax allowance to fully exploit its Thistle oilfield.David Heslop, general manager for EnQuest in Aberdeen, explained: “Before EnQuest acquired Thistle in 2010, production was declining and…
Huntington Ingalls Industries Board of Directors has declared a quarterly cash dividend of $0.10 per share.The dividend is payable on March 15, 2013, to shareholders of record as of the close of business on Feb. 28, 2013.Huntington Ingalls Industries (HII) designs…
Konecranes PLC issues its Q4 and full year 2012 financial statement and bulletin.Excerpts from the statement made by President and CEO Pekka Lundmark:I am pleased with many aspects of our performance in 2012. In a marketplace where uncertainty…
Carnival Corporation to sell existing shares over time in the London stock market.Carnival Corporation and Carnival Investments Limited, a wholly owned subsidiary of Carnival Corporation, intend to sell existing Carnival plc ordinary shares that they hold in the UK market…
The Port of Rotterdam reports 2012 fuel oil bunker volume fell from 11.6 to 10.3 million tonnes.The Port of Rotterdam Authority attributes the decline as a whole to the more efficient way of sailing adopted by shipping (‘super slow steaming’)…
Mitsui OSK Lines' financial statement for Q3, December 31, 2012, underlines a stagnant shipping market.Excerpts from the statement follow:Looking at the maritime shipping market conditions, in the dry bulker market, conditions for all vessel…
Greece's Nautilus Marine Acquisition Corp. (Nautilus) extends tender period referring to the acquisition of Assetplus Ltd.The tender offer, as amended, has been extended until 5:00 p.m., New York City time, on February 13, 2013, unless further extended or earlier terminated…
Capital Product Partners L.P. (CPLP) attribute fourth quarter 2012 net loss to a US$43.2-million impairment charge.CPLP an international owner of modern tanker, dry bulk and container vessels has released its financial results for the fourth quarter ended December 31…
Former Executive Convicted for Role in Price-Fixing Conspiracy Involving Coastal Freight Services Between the Continental United States and Puerto Rico. Following a two-week trial, a federal jury in Puerto Rico today convicted a former executive…
Samsung Heavy Industries (HII) Q4 3012 net profit fell 59% due to costs related to an oil-leakage accident in 2007.Net profit for the three months ended December 31 fell to KRW73 billion from KRW176.5 billion a year earlier, reports Fox Business News…
SeaRobotics has delivered the first HullBUG (Hull Bio-inspired Underwater Grooming) System to the Center for Corrosion and Biofouling Control at Florida Institute of Technology in Melbourne. This will be tested and further developed at the newly commissioned Large Scale Seawater Facility…
NewLead Holdings Ltd. announce it has received written notification of its compliance from the NASDAQ Stock Market LLC.NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels…
