Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea. Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198…
Royal Bank of Scotland Group PLC is winding down its Greek operation and is looking to sell its USD5 billion shipping loans portfolio, Reuters reported on Saturday. Citing finance sources familiar with the plans, Reuters said the move was…
Japanese Astomos Energy Corp. has announced that it has signed a cooperation agreement with ENEOS Globe Corp. aimed at merging the two companies' gas fleets, thereby creating a new giant in the booming tanker market. The two partners will…
Marine safety in the Torres Strait and Northern Peninsula area is getting a boost with the donation of 1,400 children’s lifejackets as part of the Torres Strait Marine Safety Program (TSMSP) School Based Maritime Safety Education Project…
The U.S. Court of Appeals for the Federal Circuit recently affirmed the 2014 judgment that ION Geophysical Corp. infringed four seminal WesternGeco LLP patents covering streamer steering technology for marine seismic surveys, and that WesternGeco…
Krishnapatnam Port, recognized as one of India’s largest ports and ranked amongst world’s finest ports connecting the Eastern & Western parts of the world, has been bestowed with the Golden Peacock Environment Management Award. The prestigious award…
India's top government committee has selected five Indian shipyards to compete for an Rs 64,000-crore ($10.1 Bln) project to build high-tech submarines for the navy. The Indian Navy will soon invite tenders for building six conventional…
Indian Navy's stealth frigate INS Teg is on a two-month long deployment in the South Indian Ocean to provide surveillance support in the region, a Government of India Ministry of Defence official statement said. It will also be patrolling the Mauritian exclusive economic zone…
A replica of the Hermione sailed into jubilation Saturday morning, as hundreds packed into a sunny Boston Harbor, wearing colonial garb and straw hats, listening to the sound of bagpipes, and waving French and American flags. The Friends of Hermione-Lafayette in America…
Lebanese Army officials say an Israeli drone crashed in the waters off Tripoli on Saturday, reports Reuters. “At around 8:30 am (0530 GMT), a drone belonging to the Israeli enemy went down in the port of Tripoli, and the army has taken the necessary measures…
APM Terminals, part of A.P. Moller-Maersk, said it is interested in buying into the Greek ports Piraeus and Thessaloniki, slated for privatization if a new bailout deal is agreed between Athens and the European Union, reports Reuters. Maersk…
A floating terminal for liquefied natural gas (LNG) in Croatia would lower energy prices both for households and the business sector, Croatian President Kolinda Grabar-Kitarovic said. The country’s key energy project is still the liquefied natural gas terminal on the Island of Krk…
Oslo-listed owner of chemical tankers Ocean Yield saw second quarter net profit rise to $25.8m from $17.1m for the period in 2014, with its focus on stable earnings from long-term charters. The Board of Directors has declared a dividend of USD 0…
Following is the statement of FMC Commissioner William P. Doyle follows:We do not take our hands off the wheel just because an agreement is allowed to go into effect without the Commission taking any further action to delay the implementation of the agreement…
U.S. Coast Guard Capt. Ron LaBrec relinquished command of Coast Guard Recruiting Command in a time-honored ceremony at the Ballston Common Mall here Friday, signifying new leadership and transition of command to Capt. Robert Smith, the Coast Guard announced…
