DryShips Agrees to Buyout Offer from Chairman and CEO

NASDAQ-listed shipowner DryShips has entered into a definitive agreement to sell all outstanding shares of the company to a holding company controlled by DryShips' Chairman and Chief Executive Officer, George Economou. Under the terms of the agreement, the holding company, SPII Holdings Inc., will acquire the outstanding shares that it does not already own for $5.25 per … [Read more...]

Yamal LNG Marks 20 Million Tons Shipped

Yamal LNG has hit a milestone 20 million tons of LNG shipped since the commencement of the project in December 2017. The milestone cargo was loaded onboard the new Arc7 ice-class tanker “Vladimir Voronin” marking the 273 cargo to sail from the port of Sabetta in Russia’s Far North. Vladimir Voronin is now the twelfth ice-class Arc7 LNG carrier built specifically for the … [Read more...]

Jumbo Shipping to Trial Bio-Fuel in Offshore Decommissioning Project

Dutch heavy lift company Jumbo Shipping says it will test marine bio-fuel on an offshore decommissioning project. Jumbo has partnered with Netherlands-based GoodFuels, the world’s first commercial, sustainable marine biofuel company, as part of a joint initiative seeking to pave the way for a low carbon energy transition in the offshore support sector. GoodFuels has … [Read more...]

Pirates Kidnap 8 from German-Owned Cargo Ship Off Cameroon

Pirates kidnapped eight crew members from a general cargo ship off the coast of Cameroon in West Africa. The vessel's Hamburg, Germany-based shipowner, MC-Schiffahrt, confirmed the incident in a statement posted to its website. The company said its MV MarMalaita was attacked Thursday, August 14, between 23.00h and 24.00h local time at the Douala anchorage in … [Read more...]