China Cosco, the flagship unit of state conglomerate Cosco Group, swung to a net loss in the third quarter of calendar 2015 at 1.7 billion yuan. Its revenue fell 19 per cent to 14.1 billion yuan in the third quarter. For the first nine months of 2015…
Hong Kong-listed China Shipping Development (CSD) , part of Chinese state giant China Shipping Group, posted a net profit of 391 million yuan, up 800 per cent compared to the same quarter last year. Driven by strong tanker performance, CSD had a much better third quarter…
German container shipping group Hapag-Lloyd AG is postponing its stock market debut by a week after investors shied away from the company following Maersk Line’s modest profit forecast last week, reports Reuters. If demand for the shares remains weak Hapag may lower the offer price…
The Polar Pioneer oil rig arrived in Port Angeles on Wednesday. Shell spokesman Curtis Smith said Port Angeles was an “excellent location for load-out” before the drilling season and remains fit for that purpose. The 400-foot tall rig…
Six-day ‘Voyage of Discovery’ concludes in Mt. Sinai Harbor Six teenage U.S. Naval Sea Cadets from Long Island who set sail from Mt. Sinai Harbor returned from their six-day Voyage of Discovery, bringing back a lifetime of practical sea experience and tactical training…
Digital support, surveillance and planning for all technical and nautical aspects of the 25 vessels of Costa Crociere, Costa Asia and AIDA fleets are implemented in real time by the Costa Group. Now assisting with these operations and risk/safety management is a new marine service unit…
Maritime Security 2015 Caribbean currently underway in San Juan, Puerto Rico Puerto Rico, centrally located at the crossroads of the Caribbean, is the location of Maritime Security 2015 Caribbean currently underway in the busy port city of San Juan…
DBR announced its expansion into the cruise ship industry following a partnership with a Dutch engineering and installation company in the marine and offshore industry. The latter company is currently working on a project that involves the upgrade…
Abu Dhabi Ports (ADP), the master developer, operator and manager of ports and industrial zones in the Emirate, presented the offerings of its Khalifa Industrial Zone Abu Dhabi (Kizad) and Khalifa Port at an exclusive business event in Dubai…
Rolls-Royce announced that its Unified Bridge Design has won this year’s Ergonomics Design Award, presented by the UK Chartered Institute of Ergonomics & Human Factors. The award recognizes industrial design which puts the customer at the heart of the process using their views to generate ideas…
Sulphur businessman Joseph R. “Dick” Kennison has been reelected president of the West Calcasieu Port board of commissioners during the port board’s October monthly meeting. Kennison’s term is for one year. Also reelected by the five-member…
Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) announced that its Chief Financial Officer (CFO), Svein Knudsen, has tendered his resignation. Knudsen has held the position as CFO of EMGS since January 2005.Stig Eide Sivertsen…
Gulf Petrochem has appointed John Phillips as Head of Credit Risk for the Group’s Bunkering division. With over 30 years experience in the Maritime sector, John is a well known expert in the industry and will focus on areas such as Credit Management (focused on Bunker business)…
A US Navy guided-missile destroyer sailed close to China’s man-made islands in the disputed South China Sea, drawing an angry rebuke from Beijing, which said its warships tracked and warned the American vessel, reports Reuters. China summoned the American ambassador to protest the U…
American Cruise Lines, operator of the newest cruise ships in the United States, announced today that it has begun construction on a new coastal cruise ship, yet to be named. The news of this addition is the most recent in a series of…
