Dockwise Ltd. confirms it has received an unsolicited intended offer from Royal Boskalis Westminster N.V. ('Boskalis') for the acquisition of all outstanding shares of Dockwise at an offer price of EUR 17.20 per share cum dividend. The…
A.P. Moller-Maersk will not invest significantly in its shipping business over the next five years and will focus on its oil, drilling rigs & ports.Maersk intends to move away from the shipping side of things and go towards sectors which generate higher profits and are more stable…
General Increases of 10% and 5% are Maintained for 2013/14 Mutual Entries. The Strike Club, the market leader in the niche area of delay insurance for the marine trades, reports continuing strong demand for its mutual and fixed-premium covers…
Douglas-Westwood forecast that between 2013 and 2017, $91bn will be spent on floating production systems (FPS) – an increase of 100% over the preceding five-year period. A total of 121 floating production units are forecast to be installed – a 37% increase…
Webb Institute awards second ABS scholarship for 2012 for studies in naval architecture and marine engineering.Webb Institute, a four-year college specializing in Naval Architecture and Marine Engineering, has recognized the second ABS Scholar for 2012…
Very good operating performance, with profitability close to CMA CGM’s historic highs.The Board of Directors of France’s CMA CGM, the world’s third largest container shipping group, met under the chairmanship of Jacques R. Saadé to approve…
Diana Containerships Inc. container ship owners & operators report financial results in Q3 & first nine months trading in 2012.Extracts from the report follow:The company reported net income of $1.6 million for the third quarter of 2012…
Northern Marine, a builder of long-range expedition yachts, luxury craft and commercial boats, has announced the expansion of its management team. Jan Kallshian, Bryan Kay, Randy Stoneman and Mark Allred bring their talents and experience in business…
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) has announced that, effective immediately, Allen M. Katz, has joined the company and will serve as Interim Senior Vice President and General Counsel through June 30, 2013. Subject to mutual agreement…
On the basis of an exhaustive industry survey, Wind Energy Update finds that wind farm return on investment is around - 21 percent.According to the survey, this underperformance is attributable to over-estimation of power production and underestimation of O&M costs…
Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit higher than in the first half of 2012.The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter…
Bulk carrier owners & charterers Safe Bulkers, Inc. reports results for the third quarter and the first nine months of 2012, pays reduced dividend.Extract from Q3 2012 results Net revenue for the third quarter of 2012 increased by 10…
The Ship Structure Committee (SSC) is re-soliciting research project recommendations for fiscal year 2013-2014.The strategic goal of the SSC, which is composed of a wide spread of shipping industry interests, aims to dentify gaps in ship structural knowledge…
US-based shipyard Conrad Industries Inc. announce third quarter and 9 months ended 30, Sept. 2012 financial results and backlog.For the quarter ended September 30, 2012, Conrad had net income of $4.4 million and earnings per diluted share of $0…
Overseas Shipholding Group, Inc. starts Chapter 11 process to reduce debt & other financial obligations to create more solid financial foundation.The Chapter 11 petition for itself and certain operating subsidiaries was filed in the U.S…
