The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported. Xinhua quoted the Shanghai International Port Group saying that…
Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry…
Titan LNG says that the stage has been set for a push in the adoption of LNG as a marine fuel beyond the tipping point. The order book for LNG-powered ships grew substantially, the LNG bunkering infrastructure is maturing and the pricing of LNG has become structurally competitive versus MGO…
Yang Ming Marine Transport Corporation will establish a subsidiary in Thailand - Yang Ming Line (Thailand) Co., Ltd. The new company will provide all services starting 1st January 2018. Mr. Derek Chen is officially appointed as its President…
U.S. oilfield services company Weatherford International Plc on Friday sold a U.S. oil-well business to rival Schlumberger NV for $430 million, abandoning a planned joint venture. Weatherford has struggled with losses and has been looking to sell units and raise cash to reduce about $7…
Ocean Yield ASA is currently in negotiations regarding further investments in modern vessels with long term charters, said the company. In a press release, Ocean Yield said that the investments are still subject to board approval and agreement on documentation…
Following the success of the Day One products introduced earlier this year, Orient Overseas Container Line Limited (OOCL) announced the forthcoming launch of the second phase of the OCEAN Alliance products in April 2018, an improved suite of…
AFC Korea, a subsidiary of Chinese private equity fund AFC, has been selected as the preferred bidder for cash-strapped STX Corp, according to a Business Korea report. AFC Korea has reportedly offered a price tag above 70 billion won (US$65…
China's super-large port Ningbo-Zhoushan, the busiest port in China, saw an annual cargo throughput of 1 billion tonnes, becoming the first one globally to reach this volume, according to data provided by the port. The port in East China's…
Star Bulk Carriers announced that, in light of the improved performance of the Company and the dry bulk market in general, it is planning to make debt principal repayments that are in total at least equivalent to the amortization payments scheduled…
Diana Shipping announced that through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$12…
South Korea's Hyundai Heavy Industries (HHI) plans to raise about 1.29 trillion won ($1.2 billion) in an initial public offering (IPO) and list its refining subsidiary Hyundai Oilbank. The report quoted the world’s second-biggest shipbuilder stating that Hyundai Robotics…
Japan’s Kawasaki Heavy Industries (KHI) diverts more shipbuilding work to its joint-venture yards in China, local media says. According to a report in Nikkei, KHI will step up commercial shipbuilding in China and scale down production in…
Keppel Corporation Limited (Keppel Corporation or Keppel) today confirmed that KOM has reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by KOM's former agent in Brazil…
HSH Nordbank AG's subsidiary Godan GmbH, the controlling unitholder of First Ship Lease Trust (FSL Trust), is looking to divest all its shares in FSL Holdings, the sponsor of the trust, reported Business Times. The report quoted FSL Trust…
