Finance

Otto Marine's Financial Health on the Mend

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.

Kinder Morgan Energy Partners' Dividend Up 6%

Kinder Morgan Energy Partners, L.P. informs in its Q4 2014 financial report that it has increased its quarterly cash distribution per common unit to $1.38 ($5.52 annualized) payable on May 15,

Shipowners to Become Liable for Costs of Wreck Removal

Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit,

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Woodside Q1 earning up, no Leviathan deal

Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 5 percent rise in first quarter production on Thursday but said it had not

Padbury delays detailing port funding

Padbury Mining on Thursday failed to reveal the investors behind a more than $6 billion port and rail project in Western Australia's iron ore belt, asking for its

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

Crashes in Crucial US Crude Waterway Hit 10-year Low

Serious crashes in the bustling Bay of Galveston have fallen to the lowest level in a decade even as more oil moves on U.S. waterways, official data show, suggesting

TUI's Hapag-Lloyd Stake Drops after CSAV Tie-Up

German travel and tourism company TUI AG's stake in container shipping company Hapag-Lloyd will drop to 13.9 percent following the latter's tie-up with Chilean peer Compania SudAmericana de Vapores.

Italian Court Rules Saipem Exec Improperly Dismissed

An Italian court has ruled that Pietro Varone, former chief of oil service firm Saipem's engineering business, was improperly dismissed in connection with corruption allegations in Algeria,

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Brazil Banks Could Top Energy, Mining Companies

Brazilian banks would become the top-weighted companies in the country's benchmark stock index, outranking energy and mining companies, under a proposed modification

Rising Renewable Generation Pressures Day Ahead Prices

Central European day ahead power prices eased on Wednesday, though outages in the region helped keep Slovak and Hungarian prices above those in the Czech Republic, traders said.

Ecopetrol Gets OK to Issue $2b in Bonds

Colombia's state-owned oil company Ecopetrol said on Wednesday it has received authorization from the nation's finance ministry to issue up to $2 billion in corporate bonds through 2016.

LyondellBasell Ends talks on Berre Refinery Sale

Refiner LyondellBasell said it had pulled out of talks to sell its Berre refinery in southeastern France to Monaco-based Sotragem, adding that the bid offered no

US Energy Dept Offers $4b Loan Aid for Renewable Energy

The U.S. Energy Department on Wednesday unveiled a plan to offer up to $4 billion in loan aid to renewable energy projects, opening up another round of funding

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Scorpio Tankers' Latest Sale & Purchase Deals

Scorpio Tankers says it recorded a gain of US$51-million from the sale of the 7 VLCC newbuilding contracts announced earlier. In March 2014, the Company received

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