News

By Ma Jie (Bloomberg) — Chinese shipbuilders are under so much financial strain that one of them is literally being turned into a parking lot. China

By Ole Mikkelsen COPENHAGEN, April 15 (Reuters) – Shipping freight rates for transporting containers from ports in Asia to Northern Europe have plummeted

By Jennifer A. Dlouhy (Bloomberg) — The Obama administration is imposing tough new regulations for offshore drilling nearly six years after the Deepwater

HOUSTON, April 14 (Reuters) – Exxon Mobil is shipping a cargo of crude produced from its deepwater Julia field in the Gulf of Mexico to its refinery in

The U.S. Navy’s USS Fort Worth (LCS 3), the littoral combat ship sidelined in Singapore due to gear damage, will sail under its own power to San Diego

By Joe Carroll (Bloomberg) — The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said

By Chris Cooper and Kiyotaka Matsuda (Bloomberg) — Kawasaki Kisen Kaisha Ltd., Japan’s third-largest shipping company, plans to halve the fleet of its

April 14 (Reuters) – The Baltic Exchange’s main sea freight index tracking rates for ships carrying dry bulk commodities extended gains on

By Jennifer A. Dlouhy (Bloomberg) — The Obama administration will issue sweeping new regulations on offshore drilling Thursday, imposing potentially

The $5.3 billion Panama Canal expansion project is finally opening June 26 following years of

By Tiffany Kary and Joe Carroll (Bloomberg) — Energy XXI Ltd. filed for bankruptcy protection after spending $5 billion on acquisitions in the years

By Naureen S. Malik (Bloomberg) — The U.S. is grappling with the biggest glut of natural gas in four years. And you wouldn’t know it from the number of

Cargo shipments at the Port of Long Beach were up 6.1 percent for the first three months of 2016 compared to the same period last year, starting the year

A United States Navy destroyer operating in international waters in the Baltic Sea experienced several close passes by a pair of Russian fighter jets

Another brazen attack off Nigeria as pirates board and kidnap two crew members from a containership underway. The ship has been identified as the

Despite a global reduction of piracy across international waters during the first three months of 2016, piracy in the Gulf of Guinea, including kidnappings for

By Phil Stewart WASHINGTON, April 13 (Reuters) – Two Russian warplanes with no visible weaponry flew simulated attack passes near a U.S. guided missile

By Mike Wackett, (The Loadstar) – Laid-up containership capacity “remains at an alarmingly high level”, according to the latest review by Alphaliner

By Kyunghee Park (Bloomberg) — Yangzijiang Shipbuilding Holdings Ltd., China’s biggest private shipbuilder, won a $510 million order to build six very

Norwegian shipowner Atlantic Offshore says it has secured its continued operation amid the weak offshore market with an agreement to sell the