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)…
CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital. Monday July 18 marked the last…
The panel of speakers who will join Lord Clarke of Stone-cum-Ebony at the 2016 Cadwallader Debate has been announced.Chairman of the debate Lord Clarke will be joined by a panel of five speakers. They are Kuba Szymanski, Secretary General of InterManager…
ACO Marine has welcomed the findings reported in the Friends of the Earth 2016 Cruise Ship Report Card, the annual survey of cruise shipping’s impact on the environment, which highlights a growing need for the sector to update its sewage treatment technology…
Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals. Besides the Business Combination Agreement (BCA) between the two companies…
Philly Shipyard, a U.S. commercial shipyard constructing vessels for operation in the Jones Act market has announced acash dividend to be paid by PHLY. The schedule is as follows: Dividend amount: USD 0.25 per share…
