U.S. Crude Exports to Asia Slump as WTI Outperforms
Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades…
23 Migrants Likely Dead on Trip from Libya to Italy
The International Organization for Migration said on Tuesday that 21 migrants were missing, and had probably drowned, after two boats, a rubber dinghy and a wooden boat…
Frontline Shares Jump as DNB Upgrades Tankers to 'buy'
Shares in crude oil tanker firm Frontline jump 10.5 pct to 34.48 crowns. DNB Markets predicts VLCC spot rates set to increase from $22,000 a day in 2018 to $41,000 a day by 2020.
Seaspan Appoints Brass as CFO
Seaspan Shipyards (Seaspan) has appointed Christof Brass as Chief Financial Officer (CFO). Christof brings over 20 years of experience successfully delivering large…
Fincantieri to Revamp Grimaldi Ferry Pair
Fincantieri and the Grimaldi Group have signed a letter of intent for the cruise ship lengthening and transformation program "Cruise Rome" and "Cruise Barcelona" .
Damen Merges Marine and Van der Velden units
Damen Marine Components (DMC) and Van der Velden Marine Systems (VDVMS) announced a merger. As of 1st January the two companies are operating together as Damen Marine Components Netherlands (DMC NL).
USN Adds F-35 Carrier to Arsenal
A detachment of F-35B Lightning II's with Fighter Attack Squadron 121 (VMFA-121) arrived aboard the amphibious assault ship USS Wasp (LHD 1) March 5, marking the…
Cruise News: Eniram Mobile Launches
Eniram, a Wärtsilä company, has launched Eniram Mobile to offer real-time decision-making support via mobile notifications. Eniram Mobile, which has been co-developed…
Lockheed Martin Wins $481 Mln US Defense Contract
Lockheed Martin Corp is being awarded a $481 million U.S. defense contract in support of the construction of four Multi-Mission Surface Combatant ships, the Pentagon said on Monday.
Samsung Heavy: New Share Issuance Worth $1.31 Bln
South Korea's Samsung Heavy Industries Co Ltd said on Tuesday the expected value of its planned new share issuance has been cut to 1.41 trillion won ($1.31 billion)…
Hyundai Heavy Scales Back New Share Issue, to Raise $843 Mln
South Korea's Hyundai Heavy Industries Co Ltd said on Tuesday it plans to raise 906.5 billion won ($843 million) with its new share issue, less than a previous target of about 1.3 trillion won.
Reach Subsea Charters Subsea Vessel Olympic Challenger
Reach Subsea has entered into an agreement with Olympic Subsea for use of the subsea vessel Olympic Challenger for two years, with an option to extend for one year.
Oceaneering Acquires Ecosse Subsea
Houston-headquartered Oceaneering International has, through one of its wholly-owned subsidiaries, acquired the Aberdeen-based Ecosse Subsea Limited for approximately GBP 50 million (US$69 Million).
Eagle Bulk Shipping Reports 4Q Loss
US based owner-operators of Supramax dry bulk vessels reported a loss of $16.6 million in its fourth quarter ended December 31, 2017, compared to a net loss of $142.4…
Fjord1 Orders Seven Battery-Powered Ferries with Havyard
Havyard Group will be delivering the design for seven battery-powered ferries to Norwegian transportation company Fjord1, five of which will be built at the company’s own shipyard.
Global Ship Lease Reports 4Q Loss
UK-based containership owner Global Ship Lease (GSL) reported a loss of $99.1 million in its fourth quarter. It posted revenue of $37.9 million in the period. For the year…
Samskip to Sail Between Hull and Amsterdam
Samskip has announced a major enhancement in its shortsea and multimodal services between the Netherlands and the United Kingdom, with the addition of direct connections…
India Allocate Funds for Development of Inland Waterways
The Government of India has got a budget allocation of INR 228 crore (USD 35.1 mln) for the development of Inland waterways transport, which also includes INR 126…
CMA CGM Revises Swahili Express Service
CMA CGM informs that its Swahili Express service operated between India/Middle East and East Africa changes. The new service rotation works out to shorter voyage…
Euroseas Returns to Profitability
Euroseas reported total net revenues of $13.5 million for the fourth quarter of 2017 ended December 31, 2017 representing a 85.2% increase over total net revenues…
