Court: Japan's Mitsui Paid to Release Ship
China Supreme Court says Mitsui pays about $29 mln; Ship released about 0030 GMT Thursday. Ship was seized over dispute dating back to 1930s. Advisor to plaintiffs says will likely demand more money.
Lawyer: Korea Ferry Owners Accept Responsibilities
The family that has a major stake in companies that control the shipping operator whose ferry sank last week, likely to have killed hundreds, will take social andā¦
Fredriksen Joins Rival for New Capesize Firm
Shipping tycoon John Fredriksen is joining one of its shipping firms with rival Knighsbridge Tankers Ltd to create the largest U.S. listed Capesize firm, which willā¦
Korean Ferry: Pair Drowned with PFD's Tied Together
A boy and girl trapped in a sinking South Korean ferry with hundreds of other high school students tied their life jacket cords together, a diver who recovered their bodies saidā¦
Diamond Offshore profit falls as rig demand softens
Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling.
WƤrtsilƤ Reports Healthy Ship Power Sector in Q1 2014
In its interim financial report January to March 2014 WƤrtsilƤ notes healthy development in ship power and services offsetting challenges in power generation markets.
No Lift for Konecranes as Q1 2014 Profit Slips
Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profitā¦
Marine Diesel Purification Breakthrough by SurePure
Liquid photopurification specialist company SurePure Inc. apprises of a breakthrough in the microbiological purification of contaminated marine diesel fuel, usingā¦
GulfMark Offshore Records its Highest Ever Q1 Revenue
He continued, "We came in just under the midpoint of our first-quarter revenue guidance, which resulted from slightly lower utilization than we originally anticipated, but overall, the average day rate increased during the quarter and we feel comfortable reaffirming our full-year revenue guidance of between $525 and $555 million. Consolidated revenue for the quarter increased 23% year-over-year, and we expect revenue will increase more than 10% in the second quarterā¦
GAO: Limited Commercial Arctic Development Foreseen
Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining. In light of the importance of U.S. efforts to effectively manage Arctic issues, GAO was asked to examine U.S. actions related to developing and investing in Arctic maritime infrastructure, which it did without making any recommendations.
Canadian Icebreaker Refit Contracts Awarded
The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S. St-Laurent'. The shipyard portion of the work will be carried out by Chantier Davie Canada Inc., a sub-contractor to Babcock Canada. The CCGS Louis S. St-Laurent is Canadaās largest and heaviest icebreaker. While in drydock at the Davie Shipyard in Levis, Quebec, the vessel will undergo critical maintenance.
Atkins Gain Maersk Oil Engineering Contract
Design, engineering and project management consultancy Atkins, says it has been awarded an engineering support contract covering three of Maersk Oilās UK assets in the North Sea. The Gryphon FPSO, Global Producer III FPSO and Janice FPU are planned for major offshore inspection, repair and maintenance (IRM) works this year, in addition to field expansion works. Maersk has committed to this plan by contracting a dedicated Dive Support Vessel (DSV) for 365 days.
Brokers Marcon Conclude Ocean Deck Barge Sale
Marcon International, Inc. of Coupeville, Washington says that Pacific Coast Maritime, Inc., Seattle, Washington, a subsidiary of Harley Marine Services, Seattle, has concluded the sale of its 240ā ABS ocean deck barge āHML 240-2ā (ex-Aqua 242, MK-242, Foss 242) to Island Tug & Barge Co. also of Seattle. Marcon International explain that the 240ā x 60āx 16ā flat deck barge was originally built by Todd Shipyards Corp.
Hong Kong Receive BMT Maritime Strategic Study
BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, says it has completed a major strategic study - āEnhancing Hong Kongās Position as an International Maritime Centre (IMC)āā¦
Mitsui O.S.K. Ship Ready To Leave Chinese Port
Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-tonne ore carrier, is ready to leave a Chineseā¦
Body Of Korean Boy Who Raised Alarm On Sinking Ferry Found
The body of a South Korean boy whose shaking voice first raised the alarm that a passenger ferry with hundreds on board was in trouble has been found, his parents believeā¦
UASC Introduces New Asia - Europe Network
UASC has introduced its new Asia ā Europe Network with three new services (AEC1, AEC3, AEC4), and two enhanced services (AEC8, AEC9). These services will broadenā¦
Holland American Line, with Seabourn Named 'World's Most Ethical' Companies
For the third consecutive year, Holland America Line, together with sister line Seabourn, was named among the Worldās Most Ethical Companies by Ethisphere Instituteā¦
Peel Ports Signs Ā£100M Contract For Cranes For New Liverpool Terminal
Peel Ports Group has signed a multi-million pound deal with Shanghai-based Zhenhua Heavy Industries Co. (ZPMC) for 17 āmega cranesā for its new Ā£300m Liverpool2 container port.
Baker Hughes Announces Q2 Conference Call
2014, ending June 30, 2014. The call will begin at 8:30 a.m. Eastern time. The results are expected to be released on Thursday, July 17, 2014, before the market opens.