by Denise Wee (Bloomberg) Genting Hong Kong Ltd., a cruise ship operator, will temporarily suspend all payments to its creditors, which will likely result in events of defaults, it said in a stock exchange filing. Its shares slid as much as 20% Thursday morning. “Such events of default would give rise to a right for requisite creditors of the Group to declare that the … [Read more...]
Transocean Is The Decade’s Biggest Loser
With COVID19 wreaking havoc in the stock market, you might think that travel or tourism stock might be the biggest losers of the past decade. But, according to a new report by Kiplinger, we are technically still in an eleven-year bull run. Many companies are still making money but the biggest losers, like Transocean, have lost big. With a current market value of about $1.5 … [Read more...]
Maritime Startups Accelerate With New Support And Funding
PSA unboXed, the Singapore-based venture capital arm of PSA International, and Israeli-based theDOCK Innovation Hub have entered into an agreement to jumpstart innovative technologies that will benefit the port, maritime and supply chain sector. The partnership between PSA unboXed and theDOCK will kick-start with the first large global maritime tech Hackathon which … [Read more...]
Maersk Shares Sink As Trade War Looms
by Jacob Gronholt-Pedersen (Reuters) - The world’s largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday. Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4. Maersk Line in … [Read more...]
SUNY Maritime Brings Home Top Rankings
With high school seniors across the US get busy applying for college, SUNY Maritime College in New York City has won an unprecedented set of awards for 2018. The college was recognized for its overall educational quality, the earning potential of its graduates, career placement rates and the value of its engineering programs. According to the Princeton Review, SUNY … [Read more...]