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Asia
Singapore shipping company fined for carrying arms to North Korea
A district court has fined Singapore-based Chinpo Shipping Company S$180,000 ($125,698) today for violating UN sanctions by carrying arms to…
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Europe
BG Group shareholders approve $52bn buy-out by Shell
BG Group shareholders have greenlit the company’s $52bn acquisition by Shell, which would create the world’s largest LNG trading company.…
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Europe
North P&I Club warns of new technology at sea
Technology such as video calls, emails, mobile devices could actually be more of a hinderance than a help to life…
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Dry Cargo
Wilson opts to sell rather than dry dock another bulker
Norway’s Wilson ASA has sold its 38-year-old small bulk carrier to Romanian interests for $750,000. Wilson Malo was due for…
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Europe
Seadrill ‘likely’ to raise $1bn in equity to cover $2.5bn funding gap
The existence of John Fredriksen’s drilling company Seadrill is being threatened by “an approaching iceberg of debt”, which will require…
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Dry Cargo
‘Dry bulk is a screaming buy’: Patitsas
Bulkers are a “screaming buy” and now is one of the best-ever times to start acquiring them – but expect…
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Dry Cargo
DNB Markets CEO says ‘traditional’ shipowners will weather stormy markets
Privately owned “traditional” shipping companies with diversified fleets will be best placed to weather “tsunami”-like markets over the near term,…
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Europe
Tom Boardley switches roles at LR
Tom Boardley, currently marine business director at UK classification society Lloyd’s Register (LR), is moving to a new role in…
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Americas
Safe Bulkers refinances another loan
Safe Bulkers has secured a new $40m term loan from Danmarks Skibskredit (Danish Ship Finance) to refinance an existing $44.9m credit…
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Middle East
Saudi Aramco, Bahri, HHI and Lamprell to develop shipyard complex
Hyundai Heavy Industries (HHI) and Lamprell Energy have joined the joint venture developing a proposed shipbuilding and maintenance complex in…
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Europe
Euronav buys back its shares
Tanker operator Euronav has spent EUR4.8m ($5.2m) in buying back 500,000 of its own shares in seven different transactions made…
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Americas
GRM Investments becomes major Scorpio Bulkers shareholder
GRM Investments Ltd, part of Canadian property developer Onni Group, has acquired an 8.65% stake in Scorpio Bulkers (SALT) to…
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Asia
Gulf Drilling International renews options for more jack-up rigs from Keppel
Gulf Drilling International (GDI) has renewed options for two more KFELS B-Class jack-up drilling rigs from Keppel FELS for delivery in…
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Operations
ICS and ITF launch guidelines to eliminate bullying at sea
The International Chamber of Shipping (ICS) and the International Transport Workers’ Federation (ITF) have published new guidelines that aim to…
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Asia
Precious makes $100m from public offering
Thailand’s Precious Shipping has raised THB3.59bn ($99.72m) through a public offering of debentures. Some 3.59m of the units were sold…
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Dry Cargo
Baltic Dry Index’s three-week rout comes to a halt
The Baltic Dry Index’s seemingly constant decline was halted today, as the index remained at Friday’s level of 354 points.…
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Americas
SBM Offshore settles with Brazilian court in Petrobras scandal
SBM Offshore’s CEO and another company executive have agreed an out-of-court settlement with the Brazilian public prosecutor’s office (Ministério Público…
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Europe
Golar LNG and Schlumberger team up for ‘low-cost’ LNG production
Golar LNG and Schlumberger have signed a memorandum of understanding (MoU) that will see the two companies cooperate to help…
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Asia
Subsea 7 to close Singapore office in favour of Kuala Lumpur
Subsea 7 is understood to be closing its office in Singapore and will move its Asian base to Kuala Lumpur…
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Europe
Farstad Shipping sells another PSV at a $5.6m loss
Farstad Shipping’s Australian subsidiary P/R International Offshore Services has sold its platform supply vessel (PSV) at a NOK49m ($5.61m) loss on…
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