New York-headquartered product tanker company International Seaways has closed on senior secured credit facilities worth a total of USD 390 million.The crude oil and petroleum product tanker company said that the facilities consists of a 5-year USD 300 million senior secured term loan facility…
Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the marine transportation provider intends to establish three new divisions and integrate its two tanker divisions to achieve synergy…
Finnish utility Gasum has signed an agreement with Norwegian energy giant Equinor for the delivery of liquefied natural gas (LNG) to the latter’s crude shuttle tankers.The Nordic energy company said in a press release that the supply will commence…
Royal Vopak completed the earlier announced divestment of its oil terminal in Algeciras to First State Investments. This divestment is the finalization of the sale of three terminals (Amsterdam, Hamburg and Algeciras) to First State Investments as previously announced…
U.S. Transportation Secretary Elaine L. Chao has announced the U.S. Merchant Marine Academy’s (USMMA) new 16 member Board of Visitors will convene for the first time at Kings Point on Monday, February 3 at 9:00 a.m. (click here for additional information)…
A new air draft over the Cape Fear River will make it easier for ultra-large container vessels to reach the Port of Wilmington. The new allowable air draft has been increased to 212 feet. The air draft clearance will allow ships with a carrying capacity of 14…
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F. Lehman & Company (JFLCO) for around $250 million.With a legacy dating to 1850, GMG…
The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics…
Canadian international oil and gas production company Zenith Energy has established a Norwegian subsidiary - Zenith Norway - as a precursor to securing its first acreage off the country. Zenith said it intends to use Zenith Norway as a vehicle…
The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. 'This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonization targets for limiting global warming to 1…
The Propeller Club of the U.S. Port of New Orleans honored Brandy D. Christian as their 2019 Maritime Person of the Year at its 86th Annual Maritime Person of the Year Gala on Wednesday, Jan. 29, at the Metairie Country Club.Read Maritime Logistics…
Liebherr has produced and delivered its largest port handling machine, for DaFeng Port in the Chinese province of Jiangsu. The LH 150 ET Gantry Port Litronic is the largest, electrically-operated Liebherr port handling machine with gantry undercarriage…
US seaborne exports to China of the goods which China has imposed tariffs on since the start of the trade war fell by 37.6% in the first 11 months of 2019 (11M 2019) compared to the same period of 2017, the last full year unaffected by the trade war…
CakeBoxx Technologies has rolled out a new product line of refrigerated shipping containers: ThermoBoxx 20' Shipping Container with Lifted Lid and ThermoBoxx 20ft Container.CakeBoxx Technologies designed these new models as a time saving, cost…
A consortium of three companies has been awarded a contract for a $176 million project to build Egypt's first dry port, the first of eight ports the government plans to set up, the transportation minister said on Wednesday.The companies are…
