Navios Sells VLCC, Charters out Tanker Newbuild
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that the Nave Jupiter, a new building MR2 product tanker of 49,999 dwt…
Grieving South Korea Seeks Arrest of Ferry Owners
South Korean prosecutors are seeking the arrest of members of the family that owns the operator of a ferry that sank last month killing hundreds of school children…
HII Reports Q1 Earnings Jump
Huntington Ingalls Industries (HII) reported first quarter 2014 revenues of $1.59 billion, up 2 percent compared to the same period last year. First quarter diluted earnings per share was $1.81, compared to diluted earnings per share of $0.87 in the same period of 2013. Adjusted diluted earnings per share for the quarter was $1.53, compared to $1.17 in the comparable period of 2013. Segment operating income for the first quarter was $137 million…
China Blames Vietnam for Collisions, Calls for Talks
China says Vietnam intentionally collided with its ships in disputed waters. Official says no reason to suspend oil rig operations, demands Vietnam withdraw. The…
Petrobas Board Member Complains of Inept Management
The uproar in Brazil over state-run oil company Petroleo Brasileiro SA's purchase of a refinery in Pasadena, Texas, is just "a drop in the ocean" of problems afflicting the company…
GDF Suez Consortium Wins French Offshore Wind Tender
The French government has awarded a 4 billion euro ($5.57 billion) tender to build and run two offshore windfarms to a consortium led by French gas and power group GDF Suez…
Norway's Offshore Energy Boom Tailing Off
Norway's energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world's most generous welfare model.
Wilhelmsen Maritime In FSN Private Equity Joint Venture
Wilhelmsen Maritime Services (WMS) says it has signed a letter of intent with the Nordic private equity fund FSN Capital to establish a joint venture within engineered solutions…
Bering Sea Early Sea Ice Break-Up 2014
The National Snow & Ice Data Center informs that since reaching its annual maximum extent on March 21, Arctic sea ice extent has declined somewhat unevenly, but…
AMSA to Cut Domestic Vessel Safety Red Tape
The Australian Maritime Safety Authority’s (AMSA) says its Domestic Vessel Division is to begin a thorough consultation process with domestic vessel operators, starting…
Corvus Energy Gets Green Marine Capital Backing
Lithium-ion battery systems manufacturer, Corvus Energy, says agreement in principle has been reached with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership…
Miami Seaport Alliance Joined by Senator
The Miami Seaport Alliance, a group of concerned citizens, community leaders, and port stakeholders who have banded together to oppose a Major League Soccer stadium at PortMiami…
Inmarsat Brings 'Fleet One' Broadband to Small Vessels
Maritime satellite communications provider Inmarsat says it now connects leisure and fishing vessels with a specially designed broadband service. Accessing weather information and chart updates…
Finland Has the Arctic Maritime Technology Edge: Arctia CEO
According to CEO Tero Vauraste of Arctia Shipping, who spoke at a recent Arctic research seminar at the University of Turku, Finland has great potential in the maritime…
NMEC Names Michael Torrech New Chairman
The National Maritime Education Council (NMEC) informs that Michael S. Torrech, CEO of American Maritime Holdings, a leader in the repair, shipbuilding, and maritime industry…
Chicago Tug Grounding: Latest Update
The U.S. Coast Guard informs it continues its response to the grounded towing vessel Kimberly Selvick in Lake Michigan off of Burnahm Park. It has been determined that ten times more diesel fuel…
Climate Rules Could Put $1.1 Trl In Oil Investment At Risk
Investors could spend up to $1.1 trillion over the next decade on oil projects and assets that never reach production if governments enforce measures to curb climate change…
Cost Of Somali Piracy Slumps As Attacks Fall
The cost of Somali piracy to the global economy fell by almost half last year as attacks slumped, but piracy in West Africa was on the rise, an annual security report said on Wednesday.
Use a new EOR technology brings award for BP
In recognition of the breakthrough new enhanced oil recovery – or EOR – technology, BP has been presented with the Distinguished Achievement Award. The award was presented on 4 May…
Libyan Rebels Reject Talks With PM, Keep Oil Ports Shut
Rebels occupying major oil ports in eastern Libya said on Wednesday they would boycott Prime Minister Ahmed Maiteeq and keep two major export terminals shut for now…
