News

MODEC, a Tokyo-based offshore engineering contractor announced today that Petrobras signed a Letter of Intent with them for the supply, charter, and operations

(Bloomberg) — China, which imports more iron ore than the rest of the world combined, will buy a record amount this quarter, easing concern about the

PRESS RELEASE — Flagship Management, LLC announced the appointment of Beth Wilson-Jordan last month as Senior Associate to its Stamford maritime

(Bloomberg) — A.P. Moeller-Maersk A/S, owner of the world’s largest container shipping line, is betting that China will evolve into a consumer

The Emma Maersk and her E-class of sister containerships have had their day in the sun, but there’s now an even bigger kid on the block named Marco Polo

Damen Shipyards Group and Wilson Sons announced today they have signed a contract for ten Damen ASD Tugs 2411 and two ASD Tugs of the new 3212-type, destined

ClassNK, IHI Marine United (IHIMU), Diesel United (DU) and IBM Japan have announced they will jointly develop a ship maintenance management system to help

Offshore engineering firm GustoMSC, which is part of the SBM Offshore Group, has been sold to the private equity firm Parcom Capital for a consideration of

Although vessels will be required to carry a Ship Energy Efficiency Management Plan from January 1st 2013, the regulation is not designed to be complex or

Seadrill received a Letter of Award today from Calgary-based Husky Oil for a new five-year contract for the newbuild harsh environment semi-submersible rig

Unlike cars, ships can’t just pull the e-brake and stop in the middle of the ocean when they rendezvous with another vessel such as an FPSO.  For close

SYDNEY–Exxon Mobil Corp. (XOM) said Monday the cost of building a massive natural gas-export project in Papua New Guinea has blown out to US$19 billion

(Bloomberg) — A former BP Plc engineer charged with destroying evidence sought for a U.S. probe of the 2010 Gulf of Mexico oil spill lost his bid to

A.P. Moller-Maersk A/S (AMKBY, MAERSK-A.KO, MAERSK-B.KO) on Friday warned global demand for seaborne containers will grow more slowly than the group forecast

(Bloomberg) — Huntington Ingalls Industries Inc. fell after the U.S. Navy’s sole builder of aircraft carriers reported third-quarter profit that

Dutch oil services company SBM Offshore NV (SBMO.AE) Friday confirmed earlier reports that said it will fix the faulty legs of its Yme oil and gas platform,

(Bloomberg) — Gasoline shipments to the U.S. from Europe are poised to fall after inventories of the auto fuel swelled because of distribution

(Bloomberg) — Crude tankers shipping almost 20 percent of the world’s oil curbed seven weeks of losses as declining fuel costs helped owners

OSLO–Statoil ASA (STO, STL.OS) evacuated 336 people by helicopter from a housing platform in the Norwegian Sea in rough weather with gale force winds,

Oil shipments from the Organization of the Petroleum Exporting Countries are to increase by 640,000 barrels a day in the four weeks to Nov. 24, compared with