finance

General Maritime Corp. (GMR) voluntarily filed for Chapter 11 bankruptcy and reached agreements with key senior lenders for a financial restructuring that will

By Jonathan Hoenig We do not trade a firm’s earnings, management or products, only shares of its stock. Therefore, price alone should guide our decision

By Jonathan Hoenig, Capitalistpig Hedge Fund LLC Being a contrarian is lonely. People think you’re crazy. Consider the cases of gold and Apple.

Horizon Lines’ common stock started trading on the over-the-counter securities market today under the symbol HRZL following the companies delisting

Overall confidence levels in the shipping industry fell to their lowest level for three and a half years in the three months ended August 2011, according to

LONDON (Dow Jones)–A growing number of oil tankers are dropping anchor rather than shipping crude to market as the rate of ship construction outpaces

Image courtesy Samsung Heavy Industries (Dow Jones) DryShips Inc.’s (DRYS) swung to a sharp loss in its fiscal second-quarter as write-downs from the

London, UK, 19 August – If it wasn’t bad enough that demand in the shipping markets has not recovered, commodity price rises have put more than a

Image courtesy Reuters HONG KONG (MarketWatch)–The South Korean market led the way for hefty stock losses in Asia Friday, as risk appetite evaporated on

LONDON (Dow Jones)–Dry bulk freight rates, already down 30% in value since the start of 2011, are likely to fall further over the coming months as slower

Image courtesy Frontline SINGAPORE (Dow Jones)–Asia’s crude tanker market may stay depressed by heavy supply as September booking begins, but

By Katarina Gustafsson Aiming to supplement its fleet in the arctic, American drilling giant Transocean Ltd. said it plans to acquire Norwegian drilling-rig

LONDON (Dow Jones)–Chinese shipbuilder and shipping firm Dongfang Shipbuilding Co. expects its upcoming listing on London’s Alternative

AMSTERDAM (Dow Jones)–Dutch oil and gas-services provider Fugro NV (FUR.AE) Friday warned that current economic uncertainty is causing delays in the

(Dow Jones) Teekay Corp.’s (TK) second-quarter loss narrowed as the tanker-ship company posted a slimmer loss on derivative instruments than the

Noble Corp. (NE: NYSE) By Global Hunter Securities ($29.33, Aug. 9, 2011) Off 41% from its recent high as of Monday’s close and the worst performer in

SINGAPORE (Dow Jones)–Sembcorp Marine Ltd. (S51.SG) said Tuesday its second-quarter net profit fell 15% from a year earlier because of a sharp

By Gina Chon, The Wall Street Journal Deal action is heating up in the shipping industry, which suffered during the financial crisis but has since proven

Spread Between Futures Contracts Makes Stashing Crude Offshore Attractive LONDON (Dow Jones)—Storing oil in tankers offshore is on the rise again in the

Canadian pension fund, OMERS Private Equity, has agreed to aquire V.Group, parent company of V.Ships, the world’s largest supplier of independent ship