Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material handling equipment centered on forklift trucks, engines and turbochargers. The new…
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the…
Videotel, a provider of e-Learning maritime training solutions and a company of KVH Industries, has joined forces with online maritime training business Safebridge GmbH, which specializes in ECDIS training, to provide shipping companies with…
DNV GL’s Maritime CEO Knut Ørbeck-Nilssen recently met with Konstantin Palnikov, Director General of the Russian Maritime Register of Shipping (RS), at the RS head office in St. Petersburg to sign a bilateral framework agreement for cooperation between both class societies During the talks…
VARO Energy, a growing downstream player in the North West European-market, today announced that the group has completed its acquisition of Hydrocarbon Hotel (HCH), a modern hydrocarbon product blending and storage terminal in the port of Amsterdam from Blue Ocean Associates Ltd (BOA)…
Swiss Mediterranean Shipping Co. (MSC) has finalized the acquisition of CP Carga, the freight and logistics unit of Portugal’s state-owned railway. MSC Rail, railway company of MSC, has completed the acquisition of the CP Carga - Logística e Transportes Ferroviários de Mercadorias SA…
After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea. A total…
Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years. Norfolk has assured shareholders that despite weak carload volume and tumbling…
Merger creates significant opportunities for candidates, clients and contractors. Air Energi Group Limited and Swift Worldwide Resources Limited have merged to form Airswift Holdings Limited, a $1.2bn turnover company specialising in global workforce solutions for the energy…
Oilfield services giant Schlumberger is entering Ophir Energy’s Fortune floating liquefied natural gas (LNG) project off Equatorial Guinea after agreeing a preliminary deal with the UK player for a stake in the development. The non-binding…
Crisis-hit yacht manufacturer Fairline Boats has been saved after the firm was bought by two Russian investors. A new company, Fairline Acquisitions, funded by two UK-based Russian investors with a background in the marine sector, is to…
French container shipping group CMA CGM bought an additional 2.4 million shares in takeover target Neptune Orient Lines (NOL) from the open market on Thursday at $1.235 and $1.24 per share, says a report in the Business Times. Following the latest transaction…
The state privatization fund Hellenic Republic Asset Development Fund (HRADF) of Greece has accepted a “significantly improved” offer from China’s Cosco Group for the state’s majority stake in the Piraeus Port Authority (OLP). “HRADF’s…
Royal Dutch Shell's top executive planning the integration of BG Group will become transitional CEO of BG after expected completion of the $48 billion acquisition next month, company sources said. The appointment of Dutchman Huibert Vigeveno…
On 7 December 2015, Neptune Orient Lines (NOL), parent company of G6 Alliance member APL, announced the potential acquisition of NOL by CMA CGM. The transaction is subject to regulatory approvals. Until there is further development, the…
