Teekay Tankers has agreed to acquire all the remaining issued and outstanding shares of Tanker Investments (TIL), in a share-for-share merger at an exchange ratio of 3.30 Teekay Tankers Class A common shares for each TIL common share. Teekay Tankers currently owns 3…
German shipping group Rickmers said it would file for insolvency after bondholder HSH Nordbank rejected its restructuring plan a day ahead of a last-ditch bondholders' meeting. Rickmers had proposed a revamp plan under which the equity stake of owner Bertram Rickmers was to be reduced to 24…
Norsepower Oy Ltd., a leading provider of low-maintenance, software operated, and data verified auxiliary wind propulsion systems, has announced that its CEO Tuomas Riski is this year’s recipient of the ‘Young Entrepreneur Award’. The accolade was presented to Tuomas yesterday…
Inmarsat has reached an agreement with Wallem Group, one of the largest and ship management companies in the industry, establishing the phase-in of Fleet Xpress as its favored connectivity choice for ships at sea. Already contracted for over 10…
Design, engineering and risk management consultancy BMT Group Ltd informs that Richard Adam has joined its board as a nonexecutive director. Qualifying as a chartered accountant in 1982, Adam has a wealth of financial acumen, M&A and international business experience…
Japan's Tsuneishi Holdings Corporation said that its shipbuilding business output was nearly flat with the construction of 45 ships in the fiscal year ending December 2016. However, ship orders declined markedly due to the impact of last…
Hapag-Lloyd shareholders approved all items on the agenda at today’s Annual General Meeting. In particular, the shareholders approved the creation of new authorised share capital. This is to be used for a planned capital increase of USD 400 million…
North Carolina Ports has named Brian E. Clark as its new Chief Operating Officer, responsible for directing and coordinating the activities of the line and staff components of all terminal operations. He will also oversee the execution of the…
In the first quarter of 2017, the Port of Hamburg’s total throughput was up by 1.7 percent at 35.4 million tons. Growth in Germany’s largest universal port was therefore slightly above the average 1.6 percent for the other major North Range ports of Rotterdam…
XL Catlin has announced the promotion of Rob McAdams to the position of Chief Underwriting Officer for Global Marine with immediate effect. Previously, McAdams held the role of UK/ Ireland Marine Leader.McAdams has 20 years’ experience in the insurance industry…
Hoegh LNG Partners closed the acquisition of 51% interest in Höegh LNG Colombia Holding, the owner of the entities that own and operate the Höegh Grace on January 3, 2017. The results of the Höegh Grace contributed to the Partnership's earnings for the full first quarter of 2017…
A new company set up by NorSea Group to simplify logistics through digital technology, NSG Digital, has established a collaborative agreement with the Kongsberg Group. The two are now moving the development and deployment of their new product…
Mining and commodities trading group Glencore Plc would prefer to grow its business through acquisitions rather than greenfield investment, its chief executive said on Wednesday. Addressing an annual general meeting in Cham, Switzerland…
German shipping line Hapag Lloyd and Arab sector peer UASC have completed a delayed merger which creates the world's fifth-biggest shipping company.The German company said on Wednesday that the deal to combine the two businesses, announced in April 2016 and sealed in July last year…
The Long Beach Board of Harbor Commissioners has appointed Duane Kenagy as the Port of Long Beach’s deputy executive director. Kenagy most recently served as interim chief executive, overseeing the nation’s second-busiest seaport during…
