“Technically Bankrupt”…Heavy Shipping Poised for Takeovers as Financing Fades
Shipping lines that carry generators and giant trucks for General Electric Co. and BHP Billiton Ltd. are becoming takeover targets amid a lack of funding for
Shipping lines that carry generators and giant trucks for General Electric Co. and BHP Billiton Ltd. are becoming takeover targets amid a lack of funding for
Hellenic Carriers Limited (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, announced today that, in continuation
The Saudi Port Authority has recently taken delivery of three Robert Allan designed RAmparts 3200-W tugs. The tugs, named Rasalkir 1, Rasalkir 2 and Rasalkir
The U.S. Navy on Wednesday announced that it has established a board of vice admirals tasked with tackling issues that have arisen from the often contested LCS
Asian refiners will reduce imports of West African crude in September by 9.4 percent from August to near the lowest level this year, a survey of six traders
HNLMS Evertsen (F805) a Dutch De Zeven Provinciën-class frigate conducts a high speed turn while operating in the Gulf of Aden. Powered by
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‘Fishing Without Nets’ is an interesting short film on Somali pirates. While it is a fictional story shot in Kenya, you’d probably believe it
Contract negotiations between dockworkers and employers at U.S. East and Gulf Coast ports have turned frosty, raising the specter of labor unrest during the
One of Foss Maritime’s hybrid tugs suffered a fire in her machinery space on Monday after having just completed a ship assist job in the Port of Long
The world’s container lines can’t raise freight rates fast enough to cover soaring fuel prices as persistent overcapacity works against the
Rolls-Royce announced today they have secured an £8 million contract to design and power a highly specialised buoy tender vessel for India. While operating in
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A plunge in iron ore prices and shipping costs means it’s cheaper for Chinese steel mills to buy the material from Brazil more than 8,000 nautical miles
(Bloomberg) — ConocoPhillips has shipped a third cargo of liquefied natural gas to Japan from the only U.S. LNG plant permitted to sell domestically
More than a month since erupting in flames and smoke while 1,000 miles from land in the Atlantic ocean, the MSC Flaminia has been granted access to a
U.S. Transportation Secretary Ray LaHood announced Tuesday that the Maritime Administration has struck a deal with NASA to convert a former space shuttle
SYDNEY–Chevron Corp. (CVX) and Royal Dutch Shell PLC (RDSB) agreed Monday to swap stakes in two multibillion dollar natural gas projects in
Overseas Shipholding Group Inc. is running out of cash and must renegotiate a loan agreement as an industrywide slowdown and rejection of a federal debt
SINGAPORE–Keppel Corp. Ltd. (BN4.SG) Tuesday said unit Keppel FELS Ltd. has signed a US$315 million contract to build a semi-submersible accommodation
(Bloomberg) — D/S Norden A/S, Europe’s biggest commodity shipping company, is poised for a second consecutive quarterly profit after concluding
Aker Philadelpha Shipyard (Oslo: AKPS) breathed a huge sign of relief today as it signed a contract with Jacksonville-based Crowley Maritime Corporation for
John Fredriksen’s Frontline 2012 announced Monday that the company has placed an order for two VLGC’s marking the recently spun off tanker
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The UK’s Ministry of Defence on Monday offered its first look at the basic specification of the UK’s next generation warship, the Type 26 Global
The M/V Vega Sagittarius sits high above the water after running aground last week near Nuuk, Greenland. The 11,811 dwt vessel, which is chartered by Royal
This incredible video comes to us via Lake Michigan where an outbreak of waterspouts touched down over the weekend. The video was captured by Captain Eric
Response crews continue cutting and removing sections of the 202-foot grounded freighter Jireh Monday to prepare the vessel for final removal and disposal from
Keppel FELS is set to deliver the world’s largest multi-purpose offshore wind turbine installer ahead of schedule to Seafox Group, the Singaporean
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