Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share, for the three months ended June 30, 2016, a 91% increase compared to $19…
Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.The five-member Long Beach Board of Harbor…
Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario…
The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process — for a Marine Oil Terminal Wharf Improvements Project at the Valero Terminal on Mormon Island in Los Angeles Harbor…
Indian Oil Corporation (IOC), the country's largest oil company, is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.4,500 crore ($669 million) Mundra LNG import terminal, according to PTI…
Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.A Hague arbitration court awarded the U.S. company $96 million…
Southeast Asian nations were thrown into disarray after Cambodia on Saturday blocked them from issuing a statement referring to an international court ruling against China's territorial claims in the South China Sea, diplomats said.The U…
China's biggest shipping and logistics company Cosco has pledged a total ban on transporting shark's fins, says SCMP. It called the move a 'body blow' to the international shark's fin trade.In a letter addressed to the Hong Kong branch of…
U.S. Secretary of State John Kerry will urge Southeast Asian nations in meetings in Laos next week to find diplomatic ways to launch talks with China on easing tension over the South China Sea following an international court ruling that denies China's claims in the sea…
The Coast Guard repatriated 151 Cuban migrants to Bahia de Cabañas, Cuba, since July 14.The Coast Guard Cutter Kathleen Moore crew repatriated 60 Cuban migrants Monday.The Coast Guard Cutter Raymond Evans crew repatriated 45 Cuban migrants…
Singapore’s position as Asia’s leading maritime services hub is likely to be enhanced in a post-Brexit environment, according to Singapore-based Ince Law Alliance, comprising Ince & Co Singapore LLP and Incisive Law LLC. The UK’s decision to leave the European Union has seen Sterling fall to $1…
Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors has successfully been certified to European Standards EN 1090 – 1 and EN 1090-2. The certification program is part of the European Union’s Construction Products Regulation CPR 305/2011…
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73…
State-run Korea Development Bank and other creditors are expected to extend their conditional debt rescheduling program for Hanjin Shipping Co. to stay afloat, reports Korea Herald. This move will give the struggling shipping company enough time to cover liquidity shortage on its own…
INTTRA, the world's ocean shipping electronic marketplace, and NYK Line, informed that NYK has joined the rapidly growing INTTRA eVGM network for facilitating compliance with new container weight requirements adopted by the International Maritime Organization (IMO)…
