Lockheed Martin Wins $481 Mln US Defense Contract
Lockheed Martin Corp is being awarded a $481 million U.S. defense contract in support of the construction of four Multi-Mission Surface Combatant ships, the Pentagon said on Monday.
Samsung Heavy: New Share Issuance Worth $1.31 Bln
South Korea's Samsung Heavy Industries Co Ltd said on Tuesday the expected value of its planned new share issuance has been cut to 1.41 trillion won ($1.31 billion)…
Hyundai Heavy Scales Back New Share Issue, to Raise $843 Mln
South Korea's Hyundai Heavy Industries Co Ltd said on Tuesday it plans to raise 906.5 billion won ($843 million) with its new share issue, less than a previous target of about 1.3 trillion won.
Reach Subsea Charters Subsea Vessel Olympic Challenger
Reach Subsea has entered into an agreement with Olympic Subsea for use of the subsea vessel Olympic Challenger for two years, with an option to extend for one year.
Oceaneering Acquires Ecosse Subsea
Houston-headquartered Oceaneering International has, through one of its wholly-owned subsidiaries, acquired the Aberdeen-based Ecosse Subsea Limited for approximately GBP 50 million (US$69 Million).
Eagle Bulk Shipping Reports 4Q Loss
US based owner-operators of Supramax dry bulk vessels reported a loss of $16.6 million in its fourth quarter ended December 31, 2017, compared to a net loss of $142.4…
Fjord1 Orders Seven Battery-Powered Ferries with Havyard
Havyard Group will be delivering the design for seven battery-powered ferries to Norwegian transportation company Fjord1, five of which will be built at the company’s own shipyard.
Global Ship Lease Reports 4Q Loss
UK-based containership owner Global Ship Lease (GSL) reported a loss of $99.1 million in its fourth quarter. It posted revenue of $37.9 million in the period. For the year…
Samskip to Sail Between Hull and Amsterdam
Samskip has announced a major enhancement in its shortsea and multimodal services between the Netherlands and the United Kingdom, with the addition of direct connections…
India Allocate Funds for Development of Inland Waterways
The Government of India has got a budget allocation of INR 228 crore (USD 35.1 mln) for the development of Inland waterways transport, which also includes INR 126…
CMA CGM Revises Swahili Express Service
CMA CGM informs that its Swahili Express service operated between India/Middle East and East Africa changes. The new service rotation works out to shorter voyage…
Euroseas Returns to Profitability
Euroseas reported total net revenues of $13.5 million for the fourth quarter of 2017 ended December 31, 2017 representing a 85.2% increase over total net revenues…
RIBCRAFT Delivers Harbormaster Boat to Edgartown
Located on the eastern side of Martha’s Vineyard, the Edgartown Harbormaster provides search and rescue operations, routine patrols, and mooring management duties to the town.
Distillate Demand Boost from Shipping Sulphur Rules to be Brief
A sharp increase in demand for distillates following new shipping fuel rules will fade quickly, the International Energy Agency said on Monday. New rules implemented…
East Coast Storm Sweeps 70 Containers Overboard
As many as 73 stray cargo containers pose threat to mariners off North Carolina. The Coast Guard is warning mariners of navigation hazards after about 70 cargo containers…
Shale Growth could Overwhelm U.S. Refiners, Fuel Exports
Rising U.S. shale oil production will overwhelm the nation's refining capacity, with three-quarters of the additional oil produced in the United States by 2023 shipped to Europe and Asia…
IMO/MARPOL Amendments Enter Into Force
Requirements for ships to collect data on their fuel oil consumption entered into force on 1 March. Other important amendments to the International Convention for…
Austal Wins $68m Ferry Contract
Following the Memorandum of Understanding of 8 December 2017, Austal has announced the award of a A$68 million contract to design and build an 83 metre trimaran ferry for JR Kyushu Jet Ferry of Japan.