OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday. Henrik Pedersen said the takeover by Alba Tanker ApS, which has the trustees of the bankrupt company on its board…
BIMCO announced its intention to develop a standard term sheet to assist the shipping industry in the creation of ship financing documentation. The aim of developing this document would be to offer lenders and borrowers a comprehensive…
Petroleum Geo-Services ASA : Kuala Lumpur Becomes the New Asia Pacific Regional HeadquartersAs a part of the plan to restructure PGS business activities in Asia Pacific the Company has decided to relocate its regional headquarters from Singapore to Kuala Lumpur ('KL')…
Zargon Oil & Gas Ltd. announces that it has entered into a definitive purchase and sale agreement to sell its Hamilton Lake property for $25 million. Property DispositionZargon has entered into an agreement to sell its petroleum and…
UniMarine announced the opening of its new office UniMarine South Europe & Mediterranean.Located in Piraeus (Greece), the office will be servicing the Southern European and Mediterranean region. The office will be headed up by Mr Spiros…
The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant pier on Terminal Island to be open and operating in December, which will help to alleviate congestion at the docks.The Long Beach Board of Harbor…
On 21 November 2014, Hamburg Süd laid the foundation stone for the extension to the shipping company’s headquarters in Hamburg. The new building is going up at Willy-Brandt-Straße (WBS) 63 and 65 on the plots adjacent to the traditional Hamburg Süd head office (WBS 59 and 61)…
Highlights of Navios Maritime Holdings Inc. Financial Results for the Third Quarter and Nine Months Ended September 30, 2014:Revenue25% increase to $152.6 million for Q3;10% increase to $420.2 million for nine monthsEBITDA5% increase to $42…
Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain a vessel while awaiting payment for work done. As a result of this unexpected decision…
A U.S. Customs and Border Protection, Office of Air and Marine P-3 aircrew operating out of National Air Security Operations Center (NASOC)-Jacksonville, Florida, detected a suspicious vessel carrying more than 1,100 pounds of cocaine with an estimated street value of more than $82…
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-12 appraisal well yesterday on the 742 km2 Rawicz Concession in Poland’s southern Permian Basin.The well…
* BHP Billiton is now targeting US$4 billion of annualised productivity gains in its core portfolio by the end of the 2017 financial year, a US$500 million increase on previous guidance. * Improved capital productivity will allow planned investment to be reduced from US$14…
Norwegian Energy Company ASA has appointed Odd Arne Slettebø as Chief Financial Officer (CFO). Odd Arne Slettebø replaces Tommy Sundt who has been appointed new CEO of the Company. Slettebø joined Noreco in August 2012 and was until now Group Finance Manager of Noreco…
The global bunker company, A/S Dan-Bunkering Ltd., expands its activities with an additional office in Denmark.'We have employed our first trading team in Aalborg and expect to be ready to trade as soon as 1st December, when Dan-Bunkering Aalborg opens…
SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore south Vietnam (Blocks 01/97 & 02/97, Blocks 10&11.1, Block 46-CN) for a total purchase price of US$400 million…
