Sector
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Eagle Bulk extends forebearance period with its creditors again
Nasdaq-listed supramax specialist Eagle Bulk has extended its forbearance and standstill agreement with its creditors by a further 14 days…
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Pemex secures lines of credit so it can pay its creditors
Mexico’s state oil firm Pemex, which has substantial offshore oil drilling interests in the Gulf of Mexico, on Tuesday announced…
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Sembcorp Marine begins buyout of Gravifloat
Singapore’s Sembcorp Marine has raised its stake in Gravifloat to 56% by purchasing a 44% holding for $38m, and intends…
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Japanese firms club together to save Daiichi Chuo
Daiichi Chuo has received a vital cash injection from a local shipping consortium. The Japanese dry bulk line, which sought…
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DryShips suspends debt repayments on back of $2.84bn loss
George Economou controlled DryShips has suspended debt repayments. The company, which yesterday reported a net loss of $2.84bn for 2015,…
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The most dangerous man in the industry
This is a true story; I have slightly tweaked the names and the geography. Quite a few years ago, I…
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Another protest at Dayang Shipbuilding as Sinopacific ceo resigns
Nearly a thousand workers of Dayang Shipbuilding, an affiliate shipyard of Sinopacific Shipbuilding, protested in front of the shipyard yesterday…
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Maersk takes the biscuit with world’s first vessel delivery by drone
Maersk Tankers has completed a landmark delivery to one of its vessels using a drone. Denmark is famous for its…
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Hanjin and HMM told to reduce debts if they want to access state funds
Korean authorities will turn the taps off leading lines until they bring their extraordinary debts under control. The Financial Services…
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Asian shipowners blast Prestige court verdict
The Asian Shipowners Forum (ASF) has hit out at a recent court decision in Spain over the Prestige tanker incident.…
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Argentinian yard scam rumbled
Six top managers at Argentinian shipyard Astillero Río Santiago have been arrested accused of embezzling state funds. Investigators are looking…
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Aeolos Management scraps tanker
The Embiricos family controlled Aeolos Management has sold a 21-year-old tanker for scrap. Mumbai-headquartered Arya Group is paying $8.3m for…
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TGS-NOPEC Geophysical appoints new CEO
Norwegian seismic specialist TGS-NOPEC Geophysical Company (TGS) has announced the appointment of Kristian Johansen as chief executive officer effective March 11.…
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Crane collapse damages China Shipping vessel at Huangshi Port
A crane collapsed at Huangshi Port, a Yangtze River port in Hubei, during offloading work yesterday. The crane fell on…
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Former head of Odebrecht gets 19 years in Petrobras case
The former head of Brazilian engineering and construction giant Odebrecht was jailed on Tuesday for 19 years and four months…
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Huarong Energy raising funds to offset debts
Hong Kong-listed Huarong Energy, formerly Rongsheng Heavy Industries, has announced that it plans to issue 17.1bn new shares to creditors…
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Exmar terminates FLNG contract in Colombia
Exmar and Pacific Exploration & Production (PEP) have agreed to terminate the liquefaction and storage agreement they signed in March…
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Almost 100 offshore vessels laid up in the North Sea
Some 92 offshore vessels are laid up in the North Sea region, with REM Offshore’s (built 2011) platform support vessel…
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Tristar buys ESHIPS from Oldendorff for $90m
UAE-based logistics group Tristar has confirmed its acquisition of Abu Dhabi’s ESHIPS (Emirates Ship Investment Company) for $90m from Egon…
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Fratelli d’Amico tanker collides with coastal vessel in the Straits of Malacca
A vessel owned by Italy’s Fratelli d’Amico was involved in an accident in the Straits of Malacca yesterday. Aframax oil…
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