Panama Maritime Authority has authorized Dromon Bureau of Shipping (DBS) as a Classification Society, Recognized Organization (RO) and Recognized Security Organization (RSO) to perform class and statutory certification services on behalf of the Flag Administration…
Teekay Tankers and Tanker Investments Ltd. (TIL) announced the closing of the previously announced merger of the two companies. Upon the closing of the merger, each outstanding share of TIL common stock (other than shares held in the treasury…
Cosco Shipping International has issued formal offer documents for its S$1.02 per share bid to privatise Cogent Holdings, reported Business Times. Cosco said that acceptances of the offer must be received no later than 5.30pm on Jan 5.…
Antwerp Port Authority and FPIM (Federal Participation & Investment Company) are to jointly acquire a stake in NxtPort, the digital data platform for the port community. The contribution by the new partners (Port Authority 75%, FPIM 25%) takes the form of capital plus a subordinated loan…
Gulf Marine Services (GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is looking at acquisitions due to opportunities in the market, reported Gulf News…
Greece-based Diana Shipping inc. on Tuesday reported a loss of $24.5 million in its third quarter of of 2017. Its net loss attributed to common stockholders was $25.9 million. This compares to a net loss of $78.3 million and net loss attributed to common stockholders of $79…
The cost of operating cargo ships rose marginally in 2017 following two consecutive years of falls, but ship owners should prepare for higher costs led by a spike in insurance premiums, according to the latest Ship Operating Costs Annual Review…
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG…
The UK Ship Register has signed its first ever unmanned vessel to the flag, showing how it is adapting to the changes of the maritime industry. ASV’s C-Worker 7 will be used for work such as subsea positioning, surveying and environmental monitoring…
Hapag-Lloyd closed the third quarter of 2017 with a significant positive Group net profit and a much improved operating result (EBIT). The integration with United Arab Shipping Company (UASC) is almost completed and on schedule to be finalized by the end of the year…
Italian shipbuilder Fincantieri has proposed to seek the privatization of Vard Holdings via a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST). Fincantieri, which holds a 79.34 per cent stake in Vard through a subsidiary Fincantieri Oil & Gas…
DNV GL has secured a combined engineering services agreement with Chrysaor Holdings Ltd. to deliver a unique range of services to the company in support of its North Sea Operations. Chrysaor recently completed the acquisition of a package…
Shipbreaking plot no. 54 in Gadani, Pakistan, was sealed off after a massive fire broke out on-board the ship ACES (IMO 8021830), said NGO Shipbreaking Platform. This is the same floating oil production tanker that blew up on 1 November last…
South Korean yard giant Daewoo Shipbuilding and Marine Engineering (DSME) ended the third quarter of this year with a profit of KRW 45.7 billion (USD 41 million), compared to a net loss of KRW 284 billion posted a year earlier, Yonhap said…
South Korean shipbuilder Samsung Heavy Industries (SHI) said that net profit for the third quarter of 2017 was down 81.8% year on year to KRW23.4 billion (USD20.44 million), mainly due to deliveries of low-priced vessels and a decrease in orders…
