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…
APSEZ to Develop Vizhinjam Port
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, has received “Letter of Award”…
First Phase of Historic Mexico Oil Auction Misses Expectations
Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open…
Retailers: Short-term Transportation Bill Isn’t Enough
“Transportation funding is a long-term problem that needs a long-term solution. Today’s vote is a necessary step to keep federal transportation programs in operation, but quick fixes are not the answer. “The supply chain is the lifeblood of any retailer. Congress needs to make good use of these next few months to come up with a long-term, sustainable funding measure that provides needed stability to the programs. Any long-term bill should recognize the importance of transportation to the U.S.
Signal International Files for Bankruptcy
Facing a wave of lawsuits filed by workers recruited from India to work on the U.S. Gulf Coast, marine services company Signal International has filed for Chapter 11 bankruptcy protection to help save its business and resolve litigation, the Wall Street Journal reported. Accused of labor trafficking, marine services company Signal lost the first of many lawsuits filed against it by more than 225 Indian workers who say they were promised good jobs repairing rigs damaged by Hurricane Katrina.
