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October 9, 2015 4:49 PM ET

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family relief fund on Friday to support the 33 mostly-American families of the crew.   "Over

October 9, 2015 3:36 PM ET

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that more than $1 million was raised at the 35th Annual Salute to the U.S. Coast Guard Thursday night in New York.

October 9, 2015 3:18 PM ET

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C, to natural gas to improve safety and lower operating costs and emissions to the environment.

October 9, 2015 2:58 PM ET

US Must Exercise Freedom of Navigation in Asia-Pacific -Navy Commander

The commander of U.S. forces in the Pacific said on Friday the United States must carry out freedom of navigation patrols throughout the Asia Pacific, but declined to say whether it planned go within 12 nautical miles of China's artificial islands in the South China Sea.

October 9, 2015 2:44 PM ET

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard for sea trials.   Creole Spirit is Teekay’s first of nine LNG

October 9, 2015 2:36 PM ET

AWO Calls on Congress for Vessel Discharges Bill

A federal appeals court ruling handed down this week underscores the urgent need for Congress to pass the Vessel Incidental Discharge Act (VIDA) and establish a uniform federal framework for the regulation of ballast water and other vessel discharges,

October 9, 2015 2:01 PM ET

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama, and similar legislation in the Senate faces an uphill battle.

October 9, 2015 2:00 PM ET

Retailers Well Stocked as Holidays Approach

Import cargo volume at the nation’s major retail container ports is expected to increase 3.3 percent this month over the same time last year as retailers make final preparations for the holiday season, according to the monthly Global Port Tracker report

October 9, 2015 2:00 PM ET

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in equities and a surge in commodities and crude oil prices.   Declines in the dollar, a bullish

October 9, 2015 11:40 AM ET

US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.   First introduced in 2010, the West Coast Ocean Protection Act, would

October 9, 2015 11:29 AM ET

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output and gold hit three-week highs after dovish Federal Reserve minutes.   Surging metals offset a choppy oil market.

October 9, 2015 11:23 AM ET

Chevron Cylinder Oil Gains NOL from Wärtsilä

Chevron Marine Lubricants’ 100BN cylinder oil, Taro Special HT 100 has received approval for its use in another engine range – products made by Winterthur Gas & Diesel Ltd. (formerly Wärtsilä Switzerland Ltd.).    Following the completion of a 4,000-hour

October 9, 2015 11:11 AM ET

House Expected to Pass Bill Axing US Oil Export Ban

A bill to repeal the U.S. oil export ban was expected to pass the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama.   U.S. representatives on Friday morning debated the bill, sponsored by Joe Barton a Republican of Texas,

October 9, 2015 10:17 AM ET

Foss Hires VP, General Counsel & Chief Ethics Officer

Foss Maritime announced that Lam Q. Nguyen-Bull has joined the company as the Vice President, General Counsel and Chief Ethics Officer.   Based in Seattle, Nguyen-Bull will lead Foss's Legal and Risk Management Group, where in addition to providing

October 9, 2015 9:30 AM ET

French President Inaugurates CMA CGM’s New Mega Ship

The CMA CGM Bougainville, the largest containership sailing under French flag, was inaugurated Tuesday by French President François Hollande in Le Havre.   Other key figures present for the inauguration include Jacques R. Saadé, Chairman and Chief

October 9, 2015 9:18 AM ET

Teekay Veteran Glendinning to Retire

Long-time Teekay leader David Glendinning, president of Teekay Gas Services, will retire December 17, 2015, after more than 28 years at Teekay. Stepping up to replace Glendinning is Mark Kremin, currently vice president in the same division, Teekay Corporation announced today.

October 9, 2015 8:39 AM ET

China Opposed to Parties Entering 'territorial' Waters

China's Foreign Ministry said on Friday it was against parties entering territorial waters in the name of freedom of navigation, as the United States is considering sailing warships close to China's artificial islands in the South China Sea. Ministry

October 9, 2015 8:30 AM ET

Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.

October 9, 2015 8:13 AM ET

Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers off the coasts of northern Europe and New York as land storage tanks are nearly full, traders said on Friday.

October 9, 2015 8:05 AM ET

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters. In July, state-run Nigerian National Petroleum Corp (NNPC)

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