China COSCO Holdings Company president Jiang Lijun has resigned from his position. Says a company statement: 'The board of directors of China COSCO Holdings Company Limited announces that Jiang Lijun has tendered his resignation as an…
Copenhagen-headquartered gas tanker carrier Evergas has just ordered four ethylene/ethane newbuildings, with an option for two more. The contract for the four newbuildings, each sized 32,000 cu m, has also been signed by Hong Kong engineering company JHW Engineering & Contracting…
Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector, has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels. The vessels were sold for an aggregate…
Crowley Awards Scholarships to Three USMMA Cadets at the 2015 Connie Awards Dinner The Crowley Maritime Corporation awarded three United States Merchant Marine Academy (USMMA) cadets with Thomas B. Crowley Sr. Memorial scholarships at the…
Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers…
Singapore sovereign wealth fund Temasek Holdings has agreed to sell its entire 67 percent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper. CMA CGM will pay S$1.30 a share in cash for the 2…
Hapag-Lloyd informs about the current delay of its Mediterranean Pacific Service (MPS) – “Duesseldorf Express” due to technical Problems. 'We regret to inform you that the “Duesseldorf Express” experienced technical problems on her current westbound voyage…
Moody's Investors Service has today changed to stable from positive the outlook on CMA CGM S.A.'s B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured rating. Concurrently, Moody's has affirmed the ratings assigned to the company…
TOTE Maritime Alaska announced that Michael Noone will assume the role of President, January 1, 2016. Noone joined TOTE Maritime Alaska as Chief Operating Officer in August 2013, bringing 28 years of experience in the shipping and logistics field…
Foss Maritime announced that John Parrott will join the Foss executive team as Chief Operating Officer (COO). Parrott comes to Foss from sister company, TOTE Maritime Alaska, where he has served as President for sixteen years. In his new role as Foss' COO…
French container shipping giant CMA CGM is to buy Singapore's Neptune Orient Lines for $2.4 billion, making its biggest-ever acquisition to help it to ride out a severe market downturn. The takeover, which the companies expect to proceed in mid-2016 following anti-trust approvals…
U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.The layoffs come on top of cuts announced in June when…
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra…
Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
The Antigua-Barbuda-flagged EMS Majestic began to sink with seven crew on board in the English Channel when it was being towed to safety. The UK Coastguard received a Mayday call at 7.09pm on Sunday from a cargo vessel which was taking in water in the Dover Strait…
