Nasdaq News

Wall Street stock indexes edged up, oil prices tumbled and the dollar's safe haven appeal waned on Tuesday as investors looked past a U.S. blockade on Iran's ports to the prospect of an eventual resolution to the conflict.Negotiating teams from the U.S. and Iran could return to Islamabad this week, four sources said, days after talks - held at the highest level between the two sides since the 1979 Islamic Revolution - ended in the Pakistani capital without a breakthrough.U.S.

Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. The per share purchase price represents a 25% premium to Great Lakes’s 90-day volume-weighted average price as of February 10…

Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD), the largest U.S. dredging contractor, reported third-quarter 2025 earnings that topped profit estimates but came in just shy of revenue expectations, reflecting steady operations amid a cooling federal project environment and a shrinking backlog.The company reported revenue of $195.2 million, a modest 2% increase from last year’s $191.2 million but below analyst estimates of around $200 million. Net income rose to $17.7 million…

Golden Ocean Group Limited (NASDAQ: GOGL; Euronext Oslo Børs: GOGL) has issued an update on its planned stock-for-stock merger with CMB.TECH NV (NYSE: CMBT; Euronext Brussels: CMBT), confirming the transaction could close as early as August 20, 2025.Under the agreement, Golden Ocean will merge with CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, with the latter as the surviving entity. Golden Ocean shareholders will receive 0.95 newly issued ordinary shares of CMB.TECH for each Golden Ocean common share, subject to customary adjustments.

Odyssey Marine Exploration, Inc. is pleased to see the issuance of a new Executive Order titled Unleashing America’s Offshore Critical Minerals and Resources. In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3, which has been declared effective by the Securities and Exchange Commission (SEC) and provides Odyssey with the flexibility to access the capital markets in a timely manner.

A.P. Møller Holding has, through its wholly owned subsidiary APMH Invest (APMHI), made an all-cash voluntary recommended purchase offer to the shareholders of Svitzer Group to acquire all issued and outstanding shares of the company.A.P. Møller Holding, through its wholly owned subsidiary APMHI, currently owns 47% of the share capital and voting rights of Svitzer.The offer price values Svitzer's total share capital at approximately $1.3 billion (DKK 9.0 billion) and represents a premium of 31.7% against to the closing share price April 1…

Operating one of the world’s largest marine fleets of any kind, it is Svitzer’s local footprint that speaks volumes for its diverse and far-flung workforce and assets. Strengthened by a multi-national team, providing value in more than three dozen countries, Svitzer stands out every day. On 30 April 2024, Svitzer was listed on Nasdaq Copenhagen (SVITZR) as a result of the previously announced separation from its former parent company, A.P. Møller - Mærsk A/S. Danish national Kasper Karlsen has been Global Chief Operating Officer of the Svitzer Group since December 2022.

Telesat (NASDAQ and TSX: TSAT) and Intellian announced a contract award for Intellian to design and manufacture Ka-band flat panel User Terminals for the Telesat Lightspeed Low Earth Orbit (LEO) constellation.Under this agreement, fully optimized Ka-band LEO flat panels for the Telesat Lightspeed network are being designed and manufactured to deliver high-speed throughput for markets including fixed enterprise applications, wireless backhaul, government, land mobility, and maritime connectivity.

First Citizens Bank's Maritime Finance business provided $26 million in financing to Euroseas Ltd., enabling the container shipping company to add a newly built 2,800 TEU ECOcontainership to its fleet.Euroseas (NASDAQ: ESEA) was formed in 2005. It owns and operates carrier vessels and provides seaborne transportation for containerized cargoes. The company owns a fleet of 24 vessels on the water, including 17 feeders and seven intermediate containerships, plus two new buildings on order…

Esgian provides an update on new drilling plans in Guyana and Norway in its Week 29 Rig Analytics Market Roundup.Report SummaryContractsADES has secured a 10-year contract extension for 250-ft jackup Admarine 657 offshore Saudi Arabia, commencing immediately upon the expiration of its current contract term with Saudi Aramco in the third quarter of 2024.Market sources indicate that Arabian Drilling 250-ft jackup ArabDrill 80 has secured a one-year extension with Al Khafji.Diamond Offshore has secured a contract with Beacon Offshore Energy subsidiary BOE Exploration & Production LLC for 12…

Towage and marine services company Svitzer has published its 2023 annual report, showing that total revenue grew 6% to DKK 5,786 million driven by, among other things, a record number of harbour towage tug jobs of more than 150,000.Adjusted for foreign exchange impact, total revenue grew 9.5%. Operating profit (EBITDA) was up 4% to DKK 1,690 million, corresponding to an EBITDA margin of 29.2%. In the past five years, total revenue has on average grown by almost 6% annually with an average EBITDA margin of 30%.

Greece-headquartered Star Bulk will halt sailings through the Red Sea after Yemen's Iran-aligned Houthis attacked two of its ships in recent days, the group's CEO said.The Houthis have targeted commercial vessels with drones and missiles in the Red Sea since mid-November in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war."Going forward, we will not be passing the Suez Canal any more because we are obviously a target of the Houthis - being a public company registered in the U.S.," Star Bulk CEO Petros Pappas told a Feb.

Yemen's Iran-aligned Houthis have targeted a cargo ship in the Red Sea which shipping analysts said on Monday had been carrying corn to Iran.It appeared to be the first time the Houthis have targeted an Iran-bound vessel since starting attacks on international shipping in solidarity with Palestinians over the Israel-Hamas war in Gaza, shipping sources said.A U.S. defence official said it was likely that the ship had been targeted but not hit, but provided no further comment. Earlier…

Denmark's A.P. Moller-Maersk said on Thursday it will spin off its towage and marine services activities and plans to list the new company on the Nasdaq Copenhagen stock exchange.Maersk has sought to streamline its business in recent years, spinning off oil rigs and other units that did not fit with its core shipping and logistics operations.The anticipated first day of trading for the shares of the new company, to be called Svitzer Group, is on April 30, Maersk said as it reported…

KVH Industries, Inc. (Nasdaq: KVHI), announced the completion of a three-year renewal of its satellite services contract with Intelsat. The renewal includes increased network capacity, the flexibility to support future bandwidth adjustments, and reduced service costs.“We are thrilled to extend our long-standing relationship with Intelsat, which began in 2017 when KVH proudly became the launch partner for Intelsat’s FlexMaritime network,” said Brent Bruun, KVH’s President and Chief Executive Officer. “More than 7,100 commercial, leisure, and military vessels worldwide rely on KVH and Intelsat’s FlexMaritime high-throughput satellites (HTS) to deliver connectivity, content, cybersecurity, and additional critical services.

Stolt-Nielsen said that, after 23 years as Chief Executive Officer, Niels G. Stolt-Nielsen will step down from his role as CEO on September 1, 2023, and will assume the role of Chairman of the Board of Stolt-Nielsen Limited. He will be succeeded as CEO by Udo Lange.Lange, who will join Stolt-Nielsen as Chief Executive Officer on September 1, 2023, has more than 20 years of experience in the international trade industry, with expertise in freight forwarding, express and parcel logistics and airline catering.

DNV will acquire Helsinki-headquartered cyber security services firm Nixu following a public tender offer which resulted in DNV taking ownership of more than 93% of Nixu’s shares. DNV will combine its cyber security businesses with Nixu following a process to acquire the remaining shares in Nixu and de-list the company from the Nasdaq Helsinki Stock Exchange. The $107-million deal will create one of Europe’s fastest growing cyber security services businesses.

Shipping company Castor Maritime announced it has completed its sale of a a 2007-built Panamax bulk carrier for $12.6 million. The company had revealed in March that it sold the 73,593 dwt Magic Rainbow to an undisclosed buyer.Nasdaq-listed Castor said it expects to record an approximately $4.4 million net gain on the sale, excluding transaction related costs.Castor owns a fleet of 20 vessels, with an aggregate capacity of 1.7 million dwt, currently consisting of one Capesize, seven Kamsarmax, 10 Panamax dry bulk vessels and two 2,700 TEU containerships.

Sofar Ocean is on a quest to extract and put to use data from the world’s waterways. Co-Founder and CEO Tim Janssen discusses how his team’s hyper-focus on data is helping to improve weather routing via Wayfinder.Tim Janssen and his Sofar Ocean team continue their ‘Epic Ocean Data Quest,’ remaining laser focused on doing its part to help extract and put to use increasing quantities of information from the world’s oceans. For its part, Sofar continues to build scalable networks to gather information premised on its Sofar Spotter buoy.

Shipping company Castor Maritime announced it has sold the 2007-built Panamax bulk carrier Magic Rainbow to an undisclosed buyer for $12.6 million.The 73,593 dwt vessel is expected to be delivered to its new owner during the second quarter of 2023.Nasdaq-listed Castor Maritime said it expects to record an approximately $4.4 million net gain on the sale, excluding transaction related costs.The deal remains subject to the execution of customary definitive documentation, the company added.Castor owns a fleet of 22 vessels, with an aggregate capacity of 1.7 million dwt, consisting of one Capesize, seven Kamsarmax and 12 Panamax dry bulk vessels, as well as 2 2,700 TEU containership.

U.S.-based shipowner Eagle Bulk Shipping announced it has expanded its fleet with the purchase of a secondhand Ultramax bulk carrier for $24.3 million.The vessel, which was constructed at China's Chengxi Shipyard in 2015, will be renamed Gibraltar Eagle and is expected to be delivered to the company during the first quarter of 2023. Eagle Bulk did not disclose the seller."This transaction is well-aligned with the company’s growth strategy of enhancing its fleet composition. Specifically, improving the age profile of the fleet, increasing the cargo capacity per vessel and reducing emissions on a per deadweight ton basis," Eagle Bulk said in a press release. The Stamford, Conn.

Stamford, Conn. based dry bulk shipping company Eagle Bulk Shipping on Monday announced it will transfer the listing of its shares from the Nasdaq Global Select Market to the New York Stock Exchange (NYSE). The company said it expects to commence trading as a NYSE-listed company at market open on January 4, 2023 under its existing ticker symbol, “EGLE”. The Company’s shares will continue to trade on the Nasdaq until the market close on January 3, 2023.Eagle's CEO Gary Vogel commented, “We are truly excited to join the New York Stock Exchange and have our shares trade alongside some of the world’s most respected companies, including the majority of our U.S.-listed peers within the maritime/shipping space.

Bulk carrier and tanker owner Castor Maritime this week announced plans to spin off its tanker fleet into a new subsidiary called Toro.Nasdaq-listed Castor, which owns a fleet of 20 bulk carriers and eight tankers, said the newly formed Toro would act as the holding company for the tanker fleet comprising one Aframax, five Aframax/LR2 and two Handysize tankers.In the spin-off, Castor shareholders will receive two common shares of Toro for every five Castor common shares held at the close of business on December 6, 2022. Toro has applied to have its common shares listed on the Nasdaq Capital Market. "The transaction is expected to enable each of Castor and Toro to increase its focus on its respective line of businesses…