Marco Wirén, M.Sc. (Econ.), has been appointed President of Energy Solutions, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective October 1, 2018.In this position, he is responsible for Wärtsilä's Energy Solutions business globally…
Protection and indemnity club Steamship Mutual P&I Club has been given a licence in Hong Kong by Hong Kong Insurance Authority , its third in the Far East after Singapore and Tokyo.'Hong Kong Insurance Authority has formally authorised the Club to establish a Branch in Hong Kong from 17 August 2018…
For the first time in the history of the cruise company AIDA Cruises, a whole family will christen the newest ship AIDAnova. The Mirza family from Hanau in Hesse was selected from hundreds of applicants by a jury.On August 31, 2018 Sonja and…
Dan-Bunkering has announced that as per September 1, 2018, the group will merge with Sydney based Australia Bunkering Pty Ltd.The Australian company has been in business for more than a decade, managed by Lena Johnston, but will now be rebranded and change name to Dan-Bunkering (Australia) Pty Ltd…
Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens…
The Port of Everett hosted a groundbreaking to commemorate the start of construction on the Port’s South Terminal Modernization project – the largest capital project in Port history by dollar value, and the largest maritime construction project on the West Coast…
Bermuda-based chemical tanker company Team Tankers International managed to return to profitability in the second quarter of 2018, as 14 new ships from recent acquisitions boosted earnings.The company posted a net income of USD 4.4 million in Q2 2018…
Golden Ocean Group Limited (GOGL) reported a net income of $9.0 million for the second quarter of 2018, compared to net loss of $12.0 million for the second quarter of 2017.The Norway based dry bulk shipping company has entered into a $120 million…
The crude oil tanker company operating a fleet of crude oil tankers in the VLCC, Suezmax and Aframax segments, DHT Holdings has reached agreements to exchange existing convertible notes due 2019.DHT Holdings has entered into separate, privately…
A freight distribution center placing high-demand logistics capability inside a global trade gateway will soon take shape here. The Port of Oakland said today that work should begin this fall on a long-awaited Seaport Logistics Complex.The…
Mercuria Energy Group and Aegean Marine Petroleum and have signed a Memorandum of Understanding (MoU) making Mercuria the only lender to Aegean. Both are working towards landing a billion dollar credit deal and closer collaboration.Mercuria…
Danish shipping company A.P. Moller-Maersk has decided to pursue a demerger with its offshore drilling operation Maersk Drilling via a separate listing of Maersk Drilling on Nasdaq Copenhagen in 2019.Maersk Drilling will become a stand-alone…
Japan’s Mitsubishi Corp has agreed to take a 25% interest in Summit's Bangladesh LNG import terminal project - which will be the country's second such terminal.The other 75% of the Summit LNG terminal will remain with Summit Corp.Mitsubishi…
South Korean state-owned Korea Gas Corporation (KOGAS) will invest 10 trillion won (US$8.84 billion) by 2025 to expand its natural gas capacity and infrastructure for hydrogen vehicles and other clean energy sources, reports Yonhap.Kogas, which has a monopoly on domestic natural gas sales…
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CJ International Italy Societa Per Azioni for one of its Panamax dry bulk vessels, the m/v Coronis, for a period of minimum 12 months to maximum 15 months…
