The United States Coast Guard announced that effective January 23, 2010, they will be increasing fines and other civil monetary penalties to account for inflation in accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990…
According to a Jan. 6 report from MarketWatch, as freight rates continue to recover and with demand for shipping expected to climb, shares of Asian shippers and shipbuilders are starting the year out trading broadly higher. Investors appeared to agree…
CMA CGM announced that an agreement was reached with its financial partners leading to the allowance of a 500 million dollar credit line, payable to the Group in January 2010. This important step will enable the Group to pursue the current…
For the quarter ended September 30, 2009, Omega Navigation reported total revenues of $14.3 million and Net Income of $1.9 million, or $0.12 per basic share, excluding losses on interest rate derivative instruments and incentive compensation grants expense…
Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company determined the terms and conditions for the issuance of its 13th series of unsecured bonds (with inter-bond pari passu clause) on December 11, 2009, and completed the issuance and payment on December 17…
Topaz Energy and Marine announced that it had raised $42m from Standard Chartered Bank, Dubai in support of its fleet expansion plans, taking its total financing raised in 2009 to $150m.Topaz has contracted over $150m in bank finance in…
A&P Group, a UK commercial ship conversion and repair company now headquartered in Cardiff, moves into 2010 with a strong order book for projects ranging from defence to sustainable energy. A&P was taken over last July by the Cardiff-based Bailey Group…
The Steel Index (TSI) daily iron ore reference price hit its highest level in 12 months on Dec. 18, reaching $107.4 per dry metric tonne. This reference price, for 62% Fe content fines CFRFO China port, represents an 82% increase since March…
Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it will release its results for the third quarter ended September 30, 2009, after the close of the market on Friday…
DryShips Inc. (NASDAQ: DRYS) a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced the pricing of its previously announced public offering of convertible senior notes…
Operating profit for the CMA CGM Group is expected to return to the breakeven point in December 2009, ahead of the company’s cautious forecasts in September 2009. The savings plan applied throughout all segments of the group, combined with increasingly firm volumes and rates…
Shipowner directors of the ‘A’ rated, 100 million GT North of England P&I club have decided on a 5% general premium increase for protection and indemnity (P&I) cover in 2010/11, reflecting the club’s continuing financial resilience. According…
Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the company's common stock for the three months ending September 30, 2009. The dividend is payable on or about December 4th…
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the three and nine month periods ended September 30…
Stolt-Nielsen S.A. (OsloBørs: SNI) announced that the company's Board of Directors approved the payment of an interim dividend of $0.50 per Common Share on December 9, 2009 to shareholders of record as of November 25, 2009. In accordance with normal settlement practice…
