Finance News

 

Joe Pitch Joins Marine-Finance.Com

Aug 24, 2009

Marine-Finance.Com announced that Joe Pitch has signed on as Managing Director for Marine-Finance.Com LLC. Pitch joins former CitiCapital Commercial Marine Finance colleague Robert Girard, SVP, who, along with CEO Richard Paine, constituted the core of the CitiBank- affiliated marine group…

Shipbuilders Rally as Hope Builds

Jul 16, 2009

Shipbuilder stocks in Korea rallied today, apparently fueled on hopes the shipbuilding industry had hit bottom in the second quarter and that demand for new vessels may revive as world economies stabilize, according to a Reuters report. Reuters…

Awarded: $17.1m in U.S. Shipyard Grants

Jul 09, 2009

The U.S. Department of Transportation’s Maritime Administration today announced $17.1 million in grants to 14 small shipyards in 10 states.  The grants are part of the Assistance to Small Shipyards program.“Small shipyards are vitally important for the health of the maritime industry…

Container Sector Feels Recession Heat

Jul 07, 2009

Drewry’s latest Container Forecaster analysis predicts casualties and continued unsustainable freight rates unless the industry market share mind-set is discarded. According to Drewry’s analysis, there will be a 10.3% contraction for containers…

Chinese Shipbuilding Industry Faces Credit Crunch

Jul 06, 2009

According to China Daily, the nation’s shipbuilding sector is suffering from a shortage of funds. China's ship builders received 1.18 million deadweight tons (DWT) of new orders in the first five months this year, a decrease of 96 percent year-on-year…

Is it the End for Bender Shipbuilding?

Jul 01, 2009

Bender Shipbuilding & Repair Co. agreed to seek protection from its creditors, filing a Chapter 11 bankruptcy petition to reorganize.The company announced in a prepared statement that it intended to cut its workforce to about 300 to keep operations…

Dockwise Reduces Debt by $58m in Q2

Jun 25, 2009

Dockwise announced that it expects to reduce its debt by a total of $58m to just below $963m by the end of Q2 2009. The reduction will be driven by:•    Release of the remaining $40.6 million held in the Mighty Servant 3 escrow account •    Successful buy back of $ 8…

Logistics News

Port of Los Angeles Names Deputy Executive Director of Development

Port of Los Angeles Names Deputy Executive Director of Development

Rio Brasil Terminal Welcomes COSCO’s ESE2 Service

Rio Brasil Terminal Welcomes COSCO’s ESE2 Service

ECOsubsea raises $12m

ECOsubsea raises $12m

Glas Ocean Electric Snags DARPA Contract

Glas Ocean Electric Snags DARPA Contract

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