China, Russia to Stage First-Ever Joint Naval Drills
As part of growing informal partnership between the two militaries, the navies of China and Russia plan to hold joint drills in the Mediterranean Sea for the first time in mid-May…
XPO to Acquire Norbert Dentressangle
American corporation XPO Logistics, led by multi-millionaire Bradley Jacobs, agreed to acquire French transport services and global logistics solutions provider Norbert Dentressangle…
Hyundai to Build LNG Regasifying Ship for Gazprom
South Korea's Hyundai Heavy Industries has won the Gazprom Flot tender for the construction of the Kaliningrad floating LNG terminal, Gazprom said. It will build…
Navy Sale Helps Hornbeck Earnings
Hornbeck Offshore Services completed the sale of three supply vessels to the U.S. Navy, helping boost profits in the first quarter even as low oil prices put pressure on revenues.
Booming VLCC Rates Pull Euronav Up
Euronav delivered its best operating profit in seven years, with a 182 percent improvement, and a USD 80.8 million net profit, thanks to the 15 VLCC supertankers the company acquired from Maersk.
Norway to Host NATO Submarine Hunt
Nearly 5,000 NATO troops would take part in anti-submarine warfare exercises off its coast in early May, amid growing regional unease over suspected submarine sightings, Norwegian military said.
Gulftainer’s Khorfakkan Terminal Sets Record Unloading
UAE based Gulftainer, a terminal operating and logistics company, set a new record for the handling of the largest unloading and loading of a single vessel call…
Greece to Privatize Piraeus Port
Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus, says a report in Bloomberg. The Hellenic Republic Asset Development Fund…
