Region
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Sale of Lundin FPSO falls through
Sweden’s Lundin Petroleum plans to sell its floating production storage and offloading unit to Malaysia’s M3nergy have been abandoned. The…
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Otto Marine starts arbitration against Robert Knudzen Shipholdings
Otto Marine has commenced arbitration in Singapore against Robert Knutzen Shipholding and Mr Robert Knutzen for charter contract disputes. Otto’s…
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US court upholds award against Pemex and increases it to $465m
Mexico’s state oil firm Pemex lost out to the tune of almost half a billion dollars in the latest phase…
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Lamprell appoints new CEO
Christopher McDonald is to join Lamprell as its new CEO and director effective as of October 1, succeeding Jim Moffat,…
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SGX reportedly readies $100m Baltic Exchange offer
A formal offer to take over the Baltic Exchange is expected to be made shortly by the Singapore Exchange, Reuters…
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Bourbon Offshore predicts market bottom
French offshore marine services company Bourbon Offshore has released its latest results today and believes the sector has hit the…
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DBS Bank handed Swiber $146m just weeks before it filed for liquidation
Singapore’s largest bank, DBS, is facing a storm of criticism after it emerged it gave Swiber Holdings two loans worth…
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Hyundai Merchant Marine shares take record dive
Just as Hyundai Merchant Marine (HMM) might have thought it had weathered the worst of the financial storm, today it…
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Eurotankers linked with MOL VLCC buy
Eurotankers has paid Mitsui OSK Lines (MOL) $28.3m for a 13-year-old VLCC, brokers report. The Greek outfit has taken the…
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Team Tankers offloads small chemical carrier
Brokers are reporting Team Tankers has sold a 2007-built chemical tanker to Vietnamese maritime conglomerate Aulac. Different brokers have different…
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Navies from the Philippines, Indonesia and Malaysia vow to strike back at Abu Sayyaf
The Philippines, Indonesia and Malaysia have signed an agreement to tackle the spate of kidnappings in the Sulu and Celebes…
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Two US firms settle for more than $1m over inflating price for handling humanitarian food aid
Two US cargo handling firms have agreed to settle for $1.075m in a case where they were accused of making…
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Maintenance work to reduce traffic through Panama Canal’s old locks by almost 40% this week
The Panama Canal’s old locks will be at reduced capacity for four days because of maintenance work that began on…
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Unipec set to hand back ULCC to Euronav
Unipec is set to stop chartering the ULCC next month, Reuters reports. The giant tanker has been on charter to…
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Maritime UK joins government initiative to boost exports
Industry group Maritime UK has partnered with the UK government’s Exporting is GREAT initiative in an effort to increase UK exports and help…
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Heroin-smuggling shipowner and agent sentenced to life in prison
A former shipowner and a shipping agent found guilty of smuggling over two tons of heroin into Greece onboard the …
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Fesco appoints chief restructuring officer
Russia’s Fesco Transportation Group has hired Steven Hellman as its chief restructuring officer, who will lead the group’s debt restructuring…
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GasLog Partners aims to raise $54m in public offering
GasLog Partners is to sell 2.75m of its common units in a public offering at a price of $19.50 per…
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Boardwalk rammer still not allowed to leave Cebu
The has still not been allowed to depart southern Cebu as its owner has yet to come up with a…
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Indian tax ruling could have massive impact on global seafarer availability
Indian seafarers could well start to price themselves out of the market with shock news that the income tax department…
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