In its summary of interim report Q3 2011, Nordic Tankers said that in the third quarter of 2011 the time charter equivalent (TCE) revenue dropped back to the low levels of the first quarter of 2011. The main reason was the continued weak freight rates…
Hapag-Lloyd generated an operating result (adjusted EBIT) of EUR 36.7 million in the third quarter 2011. This took the operating result for the first nine months of the current financial year to EUR 78.8 million. EBITDA came to approx. EUR 275 million in the first nine month of 2011…
To put its marine insurance experience closer to their clients, agents and brokers, the Marine insurance unit at XL Group plc (NYSE: XL) announced additional underwriting appointments further establishing its inland marine field operation. XL’s new Inland Marine Field team includes Michael Perrotti…
Florida-Based Sea Star Line LLC Agrees to Plead Guilty and Its Former President Is Indicted for Price Fixing on Coastal Freight Services Between the Continental United States and Puerto Rico Sea Star Line Also Agrees to Pay $14.2 Million Criminal Fine…
Yesterday’s well-attended ballast water policy teleconference briefing by the Canadian Minister of Transport served notice that Canada has no intention of allowing the state of New York to dictate ballast water regulations, nor impede commerce on the St…
The management of J.J. Sietas KG Schiffswerft GmbH u. Co. and J.J. Sietas Verwaltungs GmbH have filed a petition for insolvency at the Municipal Court Hamburg on 17 November 2011, due to over-indebtedness. Work on ships under construction will continue…
For the half year period ended 30th September, 2011, Mercator Lines Ltd. registered 25% growth in Total Income which stood at Rs.1584 crores (Rs.1268 crores). The Consolidated Net Profit for the period stood at Rs.21.41 crores (Rs.113.22 crores)…
Established in 1988 by Rick and Valerie Sawin as Charleston’s Rigging and Marine Hardware, firm has played significant roles in supplying products to support the construction of the Arthur Ravenel Bridge, raising The Hunley, and now transitions to the next generation…
Danish shipping company D/S Norden upgraded earnings guidance for 2011, saying its dry-bulk business gained market share and it saw prospects for a solid fourth quarter.- NORDEN’s operating earnings (EBITDA) in the third quarter 2011 were $36m…
Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, said it entered into a time charter contract with Pacific Basin Chartering Limited BVI for the Star Kappa for approximately one year…
Technip entered into an agreement with Gilles MICHEL, his holding Askoad Conseil, Comex SA and Sercel Holding, for the acquisition of all of their interests in Cybernétix S.A., representing approximately 45.7% of Cybernétix’s share capital, at an aggregate purchase price of approximately 14…
In support of global growth opportunities, the Singapore-based marine credit analysis company, has appointed John Phillips Manager Director. Phillips will also become a member of the Petromedia Group Board and will be based in Singapore…
A decision has been made to maintain the current shareholder structure at IHC Merwede. The IHC Merwede Supervisory Board – in addition to all of the current shareholders – is comfortable with the financial strength of the company for the next year…
Board to expand to eleven from eight; seven New Board Members Join Four Existing Directors; Four Directors Retire. Horizon Lines, a domestic ocean shipping company, today announced that it will expand its Board of Directors to 11 members from eight…
Louisiana Manufacturer will Replace Coast Guard's Small Response Boat Fleet. Metal Shark Boats has been awarded a contract to replace the U.S. Coast Guard's fleet of Response Boat - Small (RB-S) vessels. Up to 470 boats will be delivered across the Coast Guard fleet…
