Finance

HOUSTON -(Dow Jones)- Exxon Mobil Corp. (XOM) said Friday it plans spend a record $37 billion annually in capital projects for the foreseeable future, becoming

Creditors of General Maritime Corp. (GMRRQ) are accusing the oil tanker operator and “old friend” Oaktree Capital Management LLC of contriving to

(Dow Jones) Teekay Corp.’s (TK) fourth-quarter earnings fell 44% on the impact of derivatives and other items, though the company reported revenue

SINGAPORE (Dow Jones)–Sembcorp Marine Ltd.’s (S51.SG) fourth-quarter net profit fell 4.3% mainly because of lower operating profit from rig

SEOUL (Dow Jones)–Hanjin Shipping Co. (117930.SE) will maintain a oil hedging ratio of 30% of bunker fuel purchases this year in order to be less

(Dow Jones) Genco Shipping & Trading Ltd. (GNK) unveiled plans to offer $50 million worth of common stock to pay for general corporate purposes. Shares of

SINGAPORE (Dow Jones)–Singapore’s Neptune Orient Lines Ltd. (N03.SG) on Wednesday reported a fourth consecutive quarter of losses and said it is

View Larger Map LONDON (Dow Jones)–Dongfang Shipbuilding Group Company Ltd (DFS.LN), said Monday that the company’s

Saipem, the offshore energy contracting arm of Italian integrated energy company ENI, reported record profits in 2011.  Their adjusted net profit for 2011

Bermuda-based Knightsbridge Tankers Ltd (NASDAQ:VLCCF) reported yesterday a net income of USD 9.5 million (EUR 7.1m) for the fourth quarter of 2011, up from

DUBAI (Dow Jones)–Drydocks World, Dubai’s shipyard arm, is considering the sale of its entire Southeast Asian ship-building and repair operations

Panama City, Panama – Joe Nielsen, the former CFO for APM Terminals’ activities in the Americas Region has been named Managing Director, Latin

SEOUL -(Dow Jones)- The world’s two biggest shipbuilders, Hyundai Heavy Industries Co. (009540.SE) and Samsung Heavy Industries Co. (010140.SE), reported

Diamond Offshore Drilling Inc.’s (DO) fourth-quarter earnings fell 22% as the oil driller reported weaker revenue and lower utilization rates for its

U.S. District Judge Carl Barbier ruled yesterday that Transocean’s contract with BP, while drilling the Macondo Well, shielded Transocean from any

The world’s largest tanker owner, Frontline Ltd., has just announced the completion of major corporate restructuring following a sustained weak global

Executives of publicly traded shipping and offshore drilling companies have a legal duty to act in the interest of the shareholders of their respective

Diana Containerships Inc. acquires two Panamax container vessels, signs US$100 Million Credit Facility With The Royal Bank of Scotland ATHENS, Greece, Dec. 19,

Part 2 of an exclusive gCaptain interview with Intermarine’s CEO, Andre Grikitis, and CFO, Michael Dumas. By Jack Mylott, Partner, Flagship Management

“At a point in time when there is turbulence in the financial markets we are very pleased to deliver one of our best quarterly operating profit ever