Region
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Paragon Offshore plan to exit Chapter 11 is turned down by court
Houston-based rig operator Paragon Offshore has been denied its request to exit Chapter 11 bankruptcy. In an unusual move for…
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Court approves injunction against investigation of missing billions at PDVSA
Venezuela’s Supreme Court has approved an injunction against a congressional investigation into the alleged disappearance of $11bn at state oil…
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Grimaldi buys into TTT Lines
The year 2016 will be archived as another year of new investments for Grimaldi Group. The Naples-based company has just announced two…
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HMM front-runner to take over Hanjin’s transpacific operations
Hyundai Merchant Marine (HMM), Korea Line Corp and three unidentified other parties are in the mix to take over the…
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Petrobras targets 2020 for first FPSO at Libra field JV project
Petrobras has set a target year of 2020 for when it will install the first floating production, storage and offloading…
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Chinese to upgrade Guinea port
China Harbour Engineering Company (CHEC) has signed a massive $770m deal with Guinea’s government on Monday to upgrade the port…
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TGS expands African muti-client library
Seismic service provider TGS has announced the expansion of its North-West African Atlantic Margin multi-client library in the MSGBC Basin…
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Blystad readies $100m bulker binge
Arne Blystad is taking his dry bulk ambitions to the next level with an over the counter offer on the…
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Peter Evensen calls it a day at Teekay
Peter Evensen is stepping down from his role of president and CEO of Teekay Corporation, retiring after more than 13 years…
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Perisai Petroleum on edge as winding up order lands and banks come knocking
Insolvent Malaysian offshore firm Perisai Petroleum Teknologi has moved a couple of steps closer to oblivion. A private investor, Ravi…
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Transpetro cancelling 17 tanker orders
Brazillian energy major Petrobras transport subsidiary Transpetro is cancelling orders for 17 tankers. The move seriously dashes government plans to…
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Great Eastern takes second cape
Brokers tell Splash India’s Great Eastern has snapped up the seven-year-old 179,000 dwt . The ship has not been on…
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Drunk captain jailed
A ship’s captain has been sent to jail for eight weeks and fined £150 for being drunk in charge of…
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Bondholders to sue Wuhan Guoyu Logistics over default
The bondholders of Wuhan Guoyu Logistics, the parent company of Yangzhou Guoyu Shipbuilding, has made a consensus at a meeting…
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The tale of two canals – game theory in action
What comes to your mind when you think about the Suez and Panama Canals? Marvels of engineering? An exotic waterway…
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Bergen Group maps out refinancing plans
Norway’s Bergen Group says it has nearly finalised a restructuring and refinancing process to secure the long-term future of the…
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Genco Shipping share sale raises $38.6m
Genco Shipping & Trading has entered into an agreement with certain investors for the purchase of Series A convertible preferred…
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Matson to raise $75m via bonds for fleet renewal
US shipping company Matson has entered into a private placement commitment letter under which it expects to issue $75m of…
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Danes push to create Global Maritime Forum
The Danish Maritime Forum wrapped yesterday with plenty of action points for delegates to take away with them. The third…
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NAT in for Samsung suezmax trio
Nordic American Tankers (NAT) has tapped South Korea’s Samsung Heavy Industries (SHI) to build three suezmax tankers of about 157,000…
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