The United States targeted North Korea in a new wave of sanctions on Friday directed at one person, 27 companies and 28 vessels, according to a statement on the U.S. Treasury Department's website. The Treasury's Office of Foreign Assets Control announced the new measures…
The DG Competition of European Commission (EC) announced that several companies including MOL breached European competition law with respect to car carrier services. Mitsui O.S.K. Lines (MOL) and other shipping companies have been investigated…
The European Commission (EC) said Wednesday that it had fined four maritime car carriers 395 million euros (U.S. $486.5 million). Four shipping companies – CSAV, K Line, NYK and WWL-Eukor – have been fined by the EC for collusion in operating a cartel on the car carrier trades…
Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy…
Honolulu-based Matson Inc reported fourth-quarter net income of $166.9 million. On a per-share basis it has profit of $3.90. The ocean transportation and logistics services company posted revenue of $516.1 million in the period, beating Street forecasts…
Danish shipping company J. Lauritzen adds CEO of Norwegian Odfjell, Kristian V. Mørch, and CFO of the cleaning company ISS, Barbara Plucnar Jensen, into its board of directors. 'J. Lauritzen A/S in March 2018, Kristian V. Morch, CEO at Odfjell SE…
Oslo Stock Exchange has decided to delist the shares of Singapore-based Emas Offshore from trading. The offshore services provider considers this decision detrimental to its ongoing restructuring efforts. The Oslo Stock Exchange released a statement on Monday…
A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in the sale of European bulk port terminal operator HES International, worth around 2 billion euros ($2.5 billion), industry sources said. Morgan Stanley is mandated to sell the asset…
The Port of Rotterdam is bracing for a British exit from the European Union without any deal on customs, and looking at measures such as hiring 100 extra customs agents and dozens of fresh produce inspectors. CEO Allard Castelein said he had had two meetings in the past week with 'policy makers…
An hour with the new U.S. Maritime Administrator, Rear Adm. Mark H. Buzby, USN, Ret., is as informative as it is refreshing. Sworn in on August 8, 2017, Buzby served as president of the National Defense Transportation Association, a position he has held since retiring from the U…
Nippon Yusen Kabushiki Kaisha (NYK) said that it has discovered that there is a possibility that former locally hired management personnel in NYK Car Carrier (China), its consolidated subsidiary located in Shanghai.The China unit is engaged in finished car logistics business in China…
Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). 'MOL and NCC concluded the agreement with the objective…
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter…
Norwegian police have launched an investigation into a hydrogen gas leak at Statoil's Mongstad refinery in October 2016, the company said on Friday.Statoil temporarily shut and evacuated its main refinery on Norway's west coast when a rusted pipe socket ruptured…
The International Maritime Organization (IMO) announced that it has signed a new partnership agreement with the European Bank for Reconstruction and Development (EBRD) in an effort to help promote sustainable shipping. The Memorandum of Understanding (MoU)…
