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May 29, 2015 9:52 AM ET

Raytheon Anschütz Expands US operations

Raytheon Company announced the launch of its new subsidiary, Raytheon Anschuetz USA LLC, located in San Diego, Calif.    According to the company, Raytheon Anschuetz USA LLC aims to reinforce customer care and support for Raytheon Anschütz

May 29, 2015 9:27 AM ET

Crowley’s 2nd LNG ConRo Ship Ahead of Schedule

Shipbuilder VT Halter Marine, Inc. announced construction has started early for the second liquefied natural gas (LNG)-powered ConRo ship, Taíno, for Crowley Holdings, Inc.   Taíno’s steel cutting ceremony was held May 27 at VT Halter’s Pascagoula, MIss.

May 29, 2015 9:10 AM ET

Overnight Cruise Ship Visits Suspended in White Bay

The New South Wales (NSW) Port Authority has suspended all overnight cruise ship visits to White Bay until the NSW Environment Protection Authority (EPA) has regulated ultra-low sulphur fuel use for ships berthing at the terminal.   Port Authority of NSW CEO,

May 29, 2015 8:46 AM ET

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering firm Ship Finance to strengthen its balance sheet. Once the world's biggest crude tanker firm,

May 29, 2015 8:32 AM ET

Thailand: 300 "boat people" Landed in Recent Weeks

Around 300 "boat people" have landed on Thailand's shores in recent weeks, Sek Wannamethee, director-general of the information department at Thailand's Foreign Ministry, said on Friday. That was in addition to around a further 300 people who were

May 29, 2015 8:27 AM ET

U.S.: China Placed Artillery on Reclaimed Island

The United States said on Friday that China had placed mobile artillery weapons systems on a reclaimed island in the disputed South China Sea, a development that Republican Sen. John McCain called "disturbing and escalatory." Brent Colburn, a Pentagon

May 29, 2015 8:13 AM ET

Asia-N.Europe Box Rates Hit 6-Year Low

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters. Freight

May 29, 2015 6:50 AM ET

Kalmar to Debut its latest at TOC Europe Exhibition

  Kalmar, part of Cargotec, will introduce yet another port industry first during the upcoming TOC Europe exhibition in Rotterdam, the Netherlands. On 9 June, ONE is coming.   Automation is widely accepted as the way towards improved productivity,

May 29, 2015 6:45 AM ET

SENER holds a FORAN seminar in Wuhan, China

  The ‘FORAN new modules, new functions and FEM-Link (Hypermesh) Seminar’ was held on April 23rd in Wuhan. SENER is playing a big role in China, where it has been promoting the FORAN System for many years.Through the seminar, important new enhancements in its shipbuilding CAD/CAM System FORAN,

May 29, 2015 6:42 AM ET

L.A., Long Beach Create Supply Chain Working Groups

  Seeking new supply chain efficiencies, the ports of Los Angeles and Long Beach have announced the creation of working groups focusing on peak operations and terminal optimization to develop ways to strengthen the competitiveness of the San Pedro Bay port complex.

May 29, 2015 6:39 AM ET

Adm. Swift Takes Command of Pacific Fleet

  Adm. Scott H. Swift returned to his home state and relieved Adm. Harry B. Harris Jr. as commander of the U.S. Pacific Fleet during a change of command ceremony on Joint Base Pearl Harbor-Hickam, May 27. "The magnitude of this moment is not lost on me,

May 29, 2015 6:33 AM ET

ISS, Brightwell Introduce Onboard Cashless Payment System

  Inchcape Shipping Services (ISS), the world-leading marine, cargo and supply chain solutions provider, has teamed up with Brightwell Payments, Inc. to introduce an innovative payment system for ship owners and managers to simplify cross-border crew payments,

May 29, 2015 6:12 AM ET

Lerwick Port Promoting Shetland Fishing Industry

  The importance of investment in the Shetland fishing industry has been highlighted today by Lerwick Port Authority Chief Executive, Sandra Laurenson. The industry – white fish, pelagic, shellfish and aquaculture – is the biggest single contributor to the islands' economy,

May 29, 2015 1:57 AM ET

Germany Looking to Dock Submarine Deal with India

 The German Defense Minister Ursula von der Leyen is visiting India lobbying for the purchase of German Stealth Submarines and European military hardware, say local media.   Sources said that Ursula  talked of Eurofighter and [HDW] submarines in her

May 29, 2015 1:56 AM ET

Hoegh LNG's Bond Issue

 Hoegh LNG (HLNG) has successfully completed the issuance of a USD 130 million senior unsecured bond in the Nordic bond market with maturity date expected to be 5 June 2020. The bond issue will be swapped from floating to fixed interest rate.   The bond issue was oversubscribed.

May 29, 2015 1:55 AM ET

Rieber offloads Polar Prince

 GC Rieber Shipping has entered into an agreement to sell subsea vessel "Polar Prince", which the company had built in 1999.   The transaction gives GC Rieber Shipping an accounting gain of approximately NOK 10 million ($1.3 million).   The construction

May 29, 2015 1:55 AM ET

Indian Navy Monitoring Activities of China

 Amid increasing Chinese presence in the Indian Ocean region, Navy Chief Admiral R.K. Dhowan said that Indian Navy “minutely” monitors the activities of its Chinese counterpart in the region, reports PTI.   Underlining that India's maritime resources are directly linked to country's economy,

May 29, 2015 1:54 AM ET

NordLB Back to Profit

 Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first quarter after several years of hefty losses, says a report in Reuters.   The net profit

May 29, 2015 1:54 AM ET

Navios to Expand Fleet with Two VLCCs

 Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase of up to two very large crude carriers.    Apart from financing the purchase of up

May 29, 2015 1:53 AM ET

Iran, Oman Sign Maritime Agreement

 Iran's Mehr news agency said that Iranian Foreign Minister Javad Zarif and Omani Foreign Minister Yusuf bin Alawi have announced that the two countries have agreed to demarcate a previously undefined stretch of maritime border.   Zarif discussed with



 
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