People & Company News

Three Fishermen Rescued off Huatulco, Mexico

Coast Guard Cutter Steadfast and the Mexican navy conducted a joint operation to save three stranded fishermen from their sinking vessel, the Wendy II, 40 miles off the coast of Huatulco,

Chevron Suffers Loss, Plans Job Cuts

 Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Golar and Schlumberger Reaffirm Partnership

Schlumberger's withdrawal from the Fortuna/Ophir development will not influence its framework agreement with Golar LNG to develop integrated solutions for stranded gas assets,

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

Norway's Wealth Fund to Shun More Coal Users

Norway's $868-billion wealth fund is looking at excluding some 40 companies from its investments due to their use of coal, with these companies being mostly power

Royal Caribbean's Revenue up 5.6%

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's

Brent Crude Defies Glut with Big Monthly Gain

Weakening dollar, falling U.S. output lift market. Brent crude was heading for its biggest monthly rise in seven years on Friday, touching fresh 2016 highs as a weak dollar and falling U.

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

Commodity Rally Fades and Investors Look to Oil

Commodity market fundamentals have not improved yet. The rapid speculative rally in commodity markets is already petering out as focus returns to oversupplied markets,

Exxon Mobil Q1 Profit Dips 63 pct

Exxon Mobil Corp, the world's largest publicly traded oil producer, reported a 63 percent drop in first-quarter profit on Friday, citing plunging crude prices and weak refining margins.

Norway: No Survivors Found after Helicopter Crash

No survivors have so far been found following the helicopter crash off the coast of Norway on Friday, police told Reuters. Some 13 people were on board the helicopter,

TransCanada Quarterly Profit Falls 35 pct

TransCanada Corp, the country's No.2 pipeline operator, reported a 35 percent fall in quarterly profit, mainly due to a C$176 million after-tax charge related to

FCBF Honors Palm Beach Port Director

Port of Palm Beach Executive Director Manuel Almira was inducted into the Florida Custom Brokers & Forwarders Association Hall of Fame. Almira was recognized and

"K" Line Reviews Medium-term Management Plan

 Kawasaki Kisen Kaisha, Ltd. (“K” Line) reviewed its medium-term management plan, which was formulated in March 2015 as the business strategy toward our 100th anniversary in 2019,

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Elcome to Open Coltraco Ultrasonics Service Center in UAE

Elcome International, a marine solutions provider and system integrator in the Middle East, has been appointed by Coltraco Ultrasonics to provide service and technical

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

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