Dividend Changes as Kvaerner Q2 Earnings Beat Street
Norwegian oil services firm Kvaerner posted forecast-beating second-quarter core profit and lifted its 2015 revenue outlook, but also trimmed its dividend policy…
Saudis Pump Out Diesel as Price War Looms
New Yanbu refinery powers Saudi fuel exports; Saudi exports more diesel end-July as peak Mideast demand over. The world's top crude oil exporter Saudi Arabia has…
Rotterdam Oil Terminal Shelved as Russians Balk
Rotterdam, Europe's largest port, said on Thursday that plans to build an oil storage terminal for 1 billion euros ($1.1 billion) had been cancelled after its Russian…
Russia, US Agree on Arctic Fishing Ban
Five nations set moratorium on fishing near North Pole; no fish there now, but thaw is drawing stocks north. The United States, Russia and other Arctic nations signed…
Temasek to Sell Neptune Orient Lines
Singapore state investment company Temasek Holdings has put up its struggling $1.7 billion shipping company for sale, the Wall Street Journal reported, citing people familiar with the matter.
South Korea Chooses Shanghai Salvage-led consortium to Lift Sewol Ferry
South Korea has chosen a consortium led by China’s state-run Shanghai Salvage Co. as the preferred bidder to raise the Sewol passenger ferry which sank off Jindo Island on April 16…
Shipping Lines Keen for Cooperation with Iran
The Islamic Republic of Iran Shipping Lines and the country’s leading ports operator, the Tidewater Middle East Maritime Company, have been removed from the US list…
Subsea 7, KBR Team Up
Oslo-listed offshore shipowner Subsea 7 has signed an agreement with Houston-based company, KBR and its subsidiary Granherne, to form an alliance in the delivery…
Aker Philadelphia Shipyard is Philly Shipyard Now
Aker Philadelphia Shipyard ASA announces its plan to change its name to Philly Shipyard ASA, pending an upcoming shareholder vote at an extraordinary general meeting…
Shell Sells Elba Liquefaction Project Interest to Kinder Morgan
Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia. Houston-based Kinder Morgan…
MMC Ups Stake in NCB
MMC Corp Bhd has bought a further 9.08% stake in logistics and port operator NCB Holdings Bhd, boosting its shareholding to 30.13% as it seeks to remain a key player in the ports industry in Malaysia.
Brakes on Thai Plan to Buy Submarines
The proposal to buy three Chinese submarines has been put on hold and would not be put into consideration by the Cabinet yet, said Deputy Prime Minister General Prawit Wongsuwan.
Philippines' Warship Repair Angers China
China warned it can take "further actions" after the Philippines confirmed it is fortifying the BRP Sierra Madre, a grounded ship on Ayungin Shoal (Second Thomas Shoal) in the South China Sea.
EMGS Permitted for Multi-client Survey in Mexico
EMGS has received permits from Mexico's Comisión Nacional de Hidrocarburos (CNH) authorizing the acquisition of up to approximately 88,000 square km 3D EM multi…
Cheyenne Navy Week Kicks Off
Rear Adm. Michael White, commander, Naval Education Training Command, from Denver, accepted a proclamation from Cheyenne's Mayor Richard Kaysen during the Cheyenne Navy Week Kick-Off Concert, July 14.
NYK, MC to Form JV for Stones O&G Project in GoM
NYK has made the decision to invest jointly with the Mitsubishi Corporation (MC) in the chartering, operation, and maintenance of a floating production, storage…
Røkke is CEO of Akastor ASA
Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take…
Kværner Reports Robust Performance
Growing order intake and activity level in a challenging market. Kvaerner's order intake in the second quarter was NOK 5 674 million, an increase from NOK 5 360 million in the same quarter last year.
MARAD to Host META Program
The Maritime Administration (MARAD), in cooperation with the Maryland Environmental Resource Center, will hold an open forum to solicit input on the Agency’s Maritime…
Los Angeles Box Volumes Slip
June 2015 containerized cargo volumes at the Port of Los Angeles decreased 2 percent compared to the same period last year. The Port handled a total of 721,802 Twenty…
