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Boskalis Rethinks Loss-making Transport Operations

(Photo: Boskalis)

Boskalis will terminate loss-making transport activities at its offshore energy division, the Dutch marine and engineering company said on Thursday after posting lower than expected first-half earnings.A resulting one-off charge of 397 million euros ($451.6 million) pushed Boskalis to a net loss of 361.

Stena Blue Sky Bags Safety Achievement Award

Photo: Stena Bulk AB

The award was recently given for the professional seamanship and conduct when Stena Blue Sky effected a rescue operation after spotting a fisherman and recovering him from wreckage between the waters of North Korea and Japan 26th October 2017.“Events of this nature are subject to international laws and for us,

Genco Shipping & Trading Adds Two Vessels to its Fleet

Image: Genco Shipping

Genco Shipping & Trading  announced that it has taken delivery of the Genco Endeavour and the Genco Resolute, both of which are 2015-built 180,000 dwt Capesize vessels.The Genco Endeavour and the Genco Resolute are the second and third of six vessels to be delivered to Genco as part of its recent agreements to acquire six high specification,

ZEABORN Combines E.R. Schiffahrt and Rickmers

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The ZEABORN Group announced it has combined its two recently acquired Hamburg-based ship management companies to form one global brand, ZEABORN Ship Management GmbH & Cie. KG.Bremen-based ZEABORN Group has brought together Rickmers Shipmanagement, which was acquired by ZEABORN in September 2017, and E.

Students Face Off in Underwater Competition

Harbin Engineering University from China takes first place in the 2018 International RoboSub Competition. RoboSub is a robotics program where students design and build autonomous underwater vehicles to compete in a series of visual-and acoustic-based tasks. (Photo by Julianna Smith, RoboNation)

It was an exciting time in San Diego as nearly 50 high school and university teams from around the world made a splash at the 21st International RoboSub Competition at the Space and Naval Warfare Systems Center Pacific Transducer Evaluation Center, July 30 – August 3.The week-long autonomous submarine competition,

Enestas Boosts SEA\LNG’s Presence in Americas

Image: SEA\LNG

SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, announced that it has welcomed Mexico-based LNG company Enestas to its membership coalition.With the addition of Enestas, the SEA\LNG coalition bolsters its efforts to drive forward LNG as a marine fuel,

Yang Ming Sinks into Red

Image: Yang Ming Marine Transport Corporation

Taiwanese ocean carrier Yang Ming Marine Transport Corporation (Yang Ming) registered a net loss of  NTD3.81 billion (USD 129.1 million) for Q2.However, the Q2 consolidated revenues total NTD33.6 billion (USD1.14 billion) was up 1.12% from the same period in the previous year. The business volume of 1.

Hehr Named Security Director at Port of Long Beach

Casey Hehr (Photo: Port of Long Beach)

The Long Beach Board of Harbor Commissioners has appointed Casey Hehr to lead the Security Division at the nation’s second-busiest seaport.Hehr has been with the Port of Long Beach since November 2016, serving as the Assistant Director of Security. He has been the acting director of the division since March,

Hapag-Lloyd Deepens Cost Cut Drive after H1 Loss Widens

(Photo: Hapag-Lloyd)

German shipping company Hapag-Lloyd said it accelerated cost cuts in the first half of 2018 to offset higher operational costs from fuel costs, charter rates and a slow recovery in freight rates."We have implemented additional measures to recover these costs: we are critically reviewing the economic

WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker

Image: Watson Farley & Williams

Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.

Euronav Updates on Gener8 Merger

Image: Euronav

The acquisition of Gener8 resulted in the recognition of a gain on bargain purchase on business combination of USD 36.3 million being recorded in the consolidated statement of profit or loss in the second quarter, says Euronav.The largest NYSE listed independent crude oil tanker company in the world

Khaydukov Named President of PAO Novoship

Alexey Khaydukov (Photo: SCF Group)

The Board of Directors of Russian tanker shipping company PAO Novoship has elected Alexey Khaydukov as the company’s new President.Khaydukov replaces the firm’s previous President, Yury Tsvetkov, who stepped down from his role on August 8, 2018, following his appointment as a Deputy Minister of Transport of Russia,

d’Amico International Sells, Leaseback MT High Loyalty

Photo: d’Amico ?Società di Navigazione SpA

d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Loyalty, a 49,

MSC Cruises Pact for USD 1.7bln Loan for New Seaside EVO Ships

Image: MSC Cruises

Cruise liner MSC Cruises has reached an agreement for an EUR 1.5 billion (USD 1.74 billion) financing for two new Seaside EVO class cruise ships.BNP Paribas, Unicredit and Cassa Depositi e Prestiti will provide EUR 1.5bn in financing for two Seaside EVO class passengerships. The financing syndicate of lenders also include SACE SIMEST,

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