Sector
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CSSC to invest $2.3bn to develop Longxue Shipbuilding base
Chinese state run shipbuilding conglomerate China Sate Shipbuilding Corporation (CSSC) is planning to invest RMB15bn ($2.3bn) in total in the…
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Bourbon Offshore said to be considering going private
Jacques de Chateauvieux, the chairman of Bourbon, is thinking of taking the offshore services company into private ownership, reports say.…
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Pertamina-owned cargo ship sinks in Indonesia
A singledecker general cargo ship owned by Pertamina sunk on Tuesday after hitting a reef off Tagulandang island, located north…
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Bumi Armada names new CEO
Leon A. Harland will take office as the new CEO and executive director of Malaysia’s Bumi Armada as of May…
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OSG withdraws its IPO plans
Overseas Shipholding Group (OSG) has abandoned its plans to raise $100m through an initial public offering (IPO) of shares on the…
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Farstad AHTS wins contract with Woodside
Woodside Energy has chartered Farstad Shipping’s anchor handling tug supply (AHTS) vessel (24,371 bhp) for 17 months, commencing in June.…
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Bugbee buys Scorpio Bulkers shares
Robert Bugbee, president of Scorpio Bulkers, has spent around $432,100 buying shares in the NYSE-listed company. The president purchased a…
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Two senior officials of Sainty Marine quit
Financially troubled shipyard Sainty Marine has announced that two vice general managers of the company – Weng Jun and Jiang…
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Korean banks face huge losses from bailing out local shipping industry
The overextended state of South Korean shipping and shipbuilding is pushing state-run banks to breaking point. The vast swathe of…
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Harris CapRock: Cyber attacks will cost industry billions of dollars
Houston: Tracey Halsam, president of American comms firm Harris CapRock, estimates cyber attacks against oil and gas infrastructure will cost…
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Pan Ocean secures 20-year COA deal from Vale
South Korean shipowner Pan Ocean has announced that it has entered into a 20-year contract of affreightment (COA) with Vale.…
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Maersk Drilling chops another 70 staff as jackup contract ends
Maersk Ansattes Forening (MAF), the association representing Maersk employees, has announced that Maersk Drilling Norway is cutting an additional 70…
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Seadrill lands Petrobras drillship extension
John Fredriksen’s Seadrill has been awarded an extension by Petrobras for drillship West Tellus worth around $164m. The new contract…
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Woodside’s Browse LNG project suspended
Woodside has confirmed the Australian Browse LNG development has been suspended amid the current challenging market conditions. The huge development…
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Oldendorff buys and sells
Brokers report the German powerhouse Oldendorff has just offloaded the 53,700 dwt Sapphire Seas, built 2005. The ship comes from…
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Eagle Bulk extends forebearance period with creditors for the seventh time
Nasdaq-listed supramax specialist Eagle Bulk has again extended its forbearance and standstill agreement with its creditors overnight as it continues…
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China Ocean Industry terminates gas sector acquisition
Hong Kong-listed China Ocean Industry, formerly China Ocean Shipbuilding Industry, has announced that it has terminated a plan announced in…
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Things I think about when running: Hubs as opposed to ports
In one month and one day, I’ll be running the London Marathon with my fiancée, Eliza. In the run up…
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Cyber security roundtable highlights range of concerns
Details from a KVH convened cyber security gathering earlier this week. KVH Industries hosted maritime industry leaders for a frank…
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Trio design gas turbine powered, electrically driven 14,000 teu containership
Hyundai Heavy Industries, Lloyd’s Register and General Electric are coming together for a revolutionary new boxship design using LNG fuelled…
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