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…
The board members of China Merchants Energy Shipping (CMES) has approved of a plan to order an additional 10 eco-friendly VLCCs. These vessels will be operated by CMES’ Hong Kong-based subsidiary, China VLCC Company Limited, a tanker JV between CMES and Sinotrans & CSC Group…
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…
The container ship Hanjin Aqua (4,500-TEU) ran aground off Sangiang Island in Indonesia's Banten, Sundra Strait. The ship with 2303 containers on board is en route from Adelaide Australia to Jakarta, including hazardous cargo class A. Vessel…
Poland joins countries looking to tap into its natural resources, as minerals and fossil fuels become more accessible for exploitation. The Polish Information and Foreign Investment Agency (PAIiIZ) has organized and sent the first business…
Drop in commodity prices has slashed global demand for bulk carriers, pushing shipyards out of business, says Chinese news agency Caixin. Huai Jinpeng, a vice minister from the Ministry of Industry and Information Technology, which oversees…
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…
The bodies of six oil workers missing from an Azeri oil platform in the Caspian Sea that caught fire on Friday have been found, the state energy company SOCAR said on Monday. It said a helicopter search for the other missing would continue at daybreak…
Carey Lowe has been named chief operating officer of offshore drilling services provider Ensco plc. He is based in London and succeeds Mark Burns, who is retiring from the company.Lowe has held various executive management positions at Ensco since joining Ensco in 2008…
The ABYC Foundation is partnering with BRP Evinrude in a December donation campaign to fund two outboard engines to marine technology classrooms. The ABYC Foundation is seeking donations to reach $7,000 per outboard to ensure delivery to schools…
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…
Tidal energy developer OpenHydro, a DCNS company, has secured honors at this year’s Engineers Ireland Excellence Awards and SEAI Sustainable Energy Awards. At the Engineers Ireland Excellence Awards, OpenHydro won the Tech Innovation Award for its Turbine Control Center…
The report 'Employment and production in Blue Denmark 2015' was published today, providing updated information on Denmark’s vibrant maritime industries. For the second time, the Economic Council of the Labour Movement has drawn up a report…
