Region
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Petrobras to revise five-year investment plan with even more cuts
Petrobras is wielding the axe of austerity again in its latest investment plan, according to Reuters. Brazil’s troubled state oil…
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Rainbow Heavy Industry acquires major stake in Haisheng Heavy Industry
Rainbow Heavy Industry (RHI) has announced that it plans to acquire a 35% equity stake in Hunan Haisheng Heavy Industry…
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Houston Ship Channel’s first post-ban cargo of US oil set for export
A week after Corpus Christi, Texas, became the first port of departure for a US oil cargo since the export…
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Baltic Dry Index takes a turn for the worse
The Baltic Dry Index (BDI) has reached another all-time low level for a third consecutive trading day, falling 22 points…
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Strike at Rotterdam looks set to halt container operations from today
Container operations look likely to be halted at the Port of Rotterdam after workers began a 24-hour stike at 15:15hrs…
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Seanergy effects 1-for-5 reverse stock split
Seanergy Maritime’s common stock begin trading on a 1-for-5 reverse stock split-adjusted basis on the NASDAQ Capital Market when trading…
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EC approves merger of Nordic Tankers and Borealis Maritime
The European Commission (EC) has greenlit the formation of Crystal Nordic, a 50:50 joint venture (JV) between Nordic Tankers and…
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Wood Group scores two-year services deal from PetroRio
UK-based Wood Group has won a two-year contract from PetroRio to provide services to the Brazilian company’s Polvo A oil…
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DeepOcean lets go of 90 staff
Norwegian subsea specialist DeepOcean is to let go of 90 staff as it fights the downturn in oil prices, which…
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Bergen asks OSVs to move out in bid to fight record pollution
In Bergen you can practically taste the depression in the offshore industry. The number of laid up OSVs has helped…
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Skuld: Quality concerns
Oslo: As the depression in shipping continues into 2016, the quality of the global fleet is likely to come under…
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SPP sale sees Korea Line parent in pole position
The parents of two South Korean shipping lines have been linked with adding a shipyard to their sprawling business empires.…
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Hanjin Heavy asks creditors for breathing space
Facing a liquidity crisis Hanjin Heavy Industries & Construction (HHIC), once the world’s fourth largest shipbuilder, has asked for help…
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Adani and MSC team up for more Mundra terminal development
Adani Ports & SEZ Ltd, part of the Adani group, is expanding its flagship Adani International Container Terminal (AICTPL) at…
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Opening of Liverpool’s new terminal slips behind schedule
The Liverpool Echo newspaper reports today that the much-anticipated Liverpool2 container terminal from Peel Ports has fallen behind schedule. The…
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Cosco Shipping raising $380m for new vessels
Cosco Shipping has announced that it has received approval from China Securities Regulatory Commission for a new share issue plan…
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HNA Group to list shipmanagement entity
Shanghai Zhijing International Ship Management, a subsidiary of HNA Group, has applied to list on China’s National Equities Exchange and…
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Guyana expects production from contentious offshore field by 2020
Guyana’s government announced on Wednesday that it expects production to begin at its contested offshore oil and gas field in…
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CMES offloads six bulkers
China Merchants Energy Shipping (CMES) has announced that it has sold six aged bulkers for RMB147.86m ($22.43m). The vessels were…
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Petrobras cancels Ensco drillship contract over alleged corruption
UK-based rig contractor Ensco says scandal-plagued Brazilian oil giant Petrobras has cancelled a contract for a drillship, according to Reuters.…
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