Daewoo Shipbuilding & Marine Engineering Co. (DSME) is expected to log an operating loss of over 5 trillion won (US$4.4 billion) this year, up by some 1 trillion won from previous forecasts, reports Yonhap. The outlook follows a recent audit by the state-run Korea Development Bank (KDB)…
Shipbuilding and dry bulk shipping company Cosco Corp (Singapore) expects to post a loss in the third quarter ended September 30, 2015 compared to a profit recorded in the same period a year earlier. The financial pain comes on the back of the offshore slump…
Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters…
The concept of using wind power for offshore oil and gas applications is one step closer to realisation. WIN WIN, a DNV GL-led joint industry project (JIP), is running with the following seven participants: ExxonMobil, ENI Norge, Nexen Petroleum UK Ltd…
India government’s failure to take a decision on the purchase of 98 Black Shark torpedoes worries Indian Navy as the induction of the first Scorpene submarine is less than a year away, reports DHNS. The navy plans to buy Black Shark torpedoes…
Braemar (incorporating The Salvage Association) has appointed Brian Armour as Senior Maritime Civil Engineer within its Ports & Harbours division.Brian will be based in the Singapore office and has many years’ experience in the design, analysis…
The EU Commission has accepted a comprehensive rescue plan for the German shipping bank - HSH Nordbank - which will offload approximately USD 7 billion of its troubled assets back onto the government and privatize. The bank's owners, which bailed out HSH in the financial crisis…
In Singapore, senior executives from Italy's La Spezia Container Terminal - Contship Italia Group will kick off a tour of key cargo hubs across south east and east Asia today to raise awareness and promote the benefits of La Spezia Homeport…
The WTO received the 50th ratification of the Trade Facilitation Agreement (TFA) after the former Yugoslav Republic of Macedonia deposited its instrument of acceptance on 19 October.Concluded at the WTO’s 2013 Bali Ministerial Conference…
The Antarctic Ocean Alliance (AOA) called on the 25 member countries gathering today for the annual meeting of the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) to finally agree on lasting and significant Southern Ocean protection…
An electronic port community system to make all trading transactions paperless in Algerian ports based on the Dubai Trade portal has been unveiled at a major seminar in Dubai on investment opportunities in the country. The new system…
Under a contract with Rosneft to create a microbial medication for northern seas signed in 2014, scientists of Moscow State University’s biological faculty have identified about 100 microorganisms able to decompose oil and petroleum products at low temperatures including below zero ones…
AVIC International Maritime Holdings Ltd, an active player in the marine and offshore industry, issued a statement that its proposed acquisition of Shanghai Catic Industrial Co Ltd has been terminated after failing to secure relevant regulatory approval…
Crowley Maritime Corporation was recognized today with a 2015 AMS Safety Award by American Maritime Safety, Inc. (AMS) for the company’s implementation of a drug and alcohol awareness program for crewmembers that perform safety-sensitive functions on vessels calling U…
The presidents and other elected officials of the constituent unions comprising the Maritime Labor Alliance (MLA) met Wednesday for their semiannual meeting in Washington D.C. to review the state of maritime labor in the U.S. and to establish priorities for the upcoming year…
