Cargotec has signed an agreement with JCE Invest AB to establish a joint venture, Bruks Siwertell Group, specialised in dry bulk handling. The new joint venture will own Siwertell AB (previously part of Kalmar Business Area within Cargotec) and BRUKS Holding AB (previously part of JCE Group)…
South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the…
Greece-based owner of containerships and bulk carriers Euroseas has spun off its drybulk fleet into a separate company. The Company announced that it filed a registration statement on Form F-1 with the Securities and Exchange Commission…
The news that Venezuela's PDVSA has diverted a crude tanker from Curacao after ConocoPhillips moves to satisfy a $2 billion arbitration award signals that worst may be yet to come. Reuters is reporting that Venezuela's state-run PDVSA ordered…
Venezuela's state-run PDVSA suspended oil storage and shipping from its Caribbean facilities following a move by ConocoPhillips to temporarily seize the firm's assets on four islands, according to a PDVSA source and Reuters data.PDVSA has begun…
Iran is readying the first commercial exports of its West Karoun crude oil grade for May or June, two sources familiar with the matter said, even as fresh economic sanctions against the country loom.Iran has already been shipping samples of…
Oil prices are at more than three-year highs, driven by an expectation that renewed U.S. sanctions on Tehran over the country's nuclear program will disrupt Iranian crude flows.But without the Europe Union, or Iran's other big crude customers…
In a similar fashion to Gulf coast offshore energy producers who, in some instances, must document and count the environmental impact of their third party standby boats, offshore service vessels and other assets, the ports of Long Beach and…
China's top economic official will visit Washington next week to continue trade talks with Trump administration officials, the White House said on Monday, after two days of talks in Beijing last week failed to produce a breakthrough.'We are…
The total gross tonnage of the Danish ship registry recently surpassed 20 million GT for the first time in history.Denmark, which has been steadily climbing the ranks as a shipping nation, is currently the world's 12th largest register.The fleet…
Abu Dhabi Ports has signed a 30-year concession agreement with Mediterranean Shipping Company (MSC) to build a new container terminal at its Khalifa Port.Abu Dhabi, the capital of the United Arab Emirates (UAE), has spent billions developing the port…
A committee investigating a collision between an Iranian tanker and a Chinese freighter has come to diverging conclusions over the causes of the worst oil ship disaster in decades, Iran's state television reported on Saturday.The Panama-registered Sanchi…
MOU has been signed to collaborate on development of new inland container terminal, promoting Egypt's sustainable economic growth. The three partners will bid for a government contract for the project, later this year. The proposed inland…
Subsea 7 S.A. announced that it had taken note of McDermott International shareholders' vote in favor of a combination with Chicago Bridge & Iron Co (CB&I).In light of this vote, Subsea 7 confirms that the proposal made to McDermott's Board…
Activists hailed a Kenyan court for ordering that almost 5,000 fishermen at a 14th century World Heritage Site receive millions in compensation for the loss of traditional fishing rights due to the construction of a major port.The fishermen in Lamu…
