France’s CMA CGM now holds over 78 percent of the shares in Neptune Orient Lines (NOL), bringing it closer to taking the Singapore company private. CMA CGM currently owns approximately 78.07% of all NOL shares, and does not intend to preserve the listing status of NOL…
Chief Executive Officer Njaal Saevik in offshore service vessel owner Havila Shipping told Reuters in a telephone interview:From Havila's point of view 'it may be reasonable to consolidate (the industry) but we believe each company needs…
CMA CGM has finally made its all-cash voluntary conditional general offer for all the outstanding shares of Neptune Orient Lines (NOL). This follows approvals by the relevant regulatory authorities in the European Union and China. The offer price is SGD 1…
After last week's media reports that an undisclosed party was looking to buy Singapores offshore marine company Otto Marine Limited, the company said that it received a proposal from RHB Securities Singapore Pte Ltd (RHB). RHB is the financial adviser to the potential offer…
6 June 2016. GTT has inaugurated, on June 3rd, its office in Shanghai: GTT China. Several officials from Chinese companies in the transport and industry of Liquefied Natural Gas (LNG) sectors attended the ceremony, in the company of Adnan Ezzarhouni…
Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment.Adani…
The Middle East container shipping group United Arab Shipping Co. (UASC ) met with shareholders at the company's corporate office in Dubai to discuss a possible combination with German rival Hapag-Lloyd, but no decision was finalized. According to sources…
Frontline Ltd. ('Frontline'), today announces the formation of Suezmax Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav NV. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels…
Malaysia's Petroliam Nasional Bhd (Petronas) and Japanese oil company JX Nippon Oil & Energy (JX NOE) have signed an agreement for the sale and purchase of equity in Petronas LNG 9 Sdn Bhd (PL9SB), say local media. Under the agreement, JX NOE will acquire a 10% stake in PL9SB…
Royal Caribbean Cruises Ltd. has entered into an agreement to sell Legend of the Seas to Thomson Cruises in the UK. Legend will depart Royal Caribbean’s 25-ship fleet in March 2017 and immediately transition to its new owner. The 1…
The shareholders of Middle East container shipping group United Arab Shipping Company (UASC) back the company's merger talks with German rival Hapag-Lloyd although there has not yet been a vote to approve a deal, UASC said on Thursday.UASC…
Korea Times says that Hyundai Merchant Marine (HMM) will join a new global shipping alliance, as the cash-strapped shipper has successfully reached a debt-rescheduling deal with its bondholders. HMM announced that it has reached a resolution…
CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has terminated the acquisitions of Sinopacific Offshore & Engineering (SOE), the offshore unit of Sinopacific Shipbuilding.CIMC Enric…
Rickmers-Linie, the Hamburg based liner service specialist for breakbulk, heavy lift and project cargoes takes over the activities of tramp and chartering specialist Nordana Project & Chartering with offices in Copenhagen, Bangkok, Singapore and Houston…
GAC has launched its own operation in Namibia in response to growing demand from our oil & gas customers and increasing cargo trade between the country and neighbouring South Africa, as well as other African nations.The formation of GAC…
