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Subsea 7 to Invest in Xodus Group

SEVEN FALCON. Photo: Subsea 7

 Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy, from Chiyoda.   Yokohama-based Chiyoda,

NYSHEX Adds New Members in its Council

From left: Bjorn Jensen, Jochen Gutschmidt and Nick Fafoutis. Photo: NYSHEX

 The New York Shipping Exchange (NYSHEX), the container shipping industry’s solution for digital and enforceable freight contracting,  has announces the appointment of new members to its board of directors and launch of the governing NYSHEX Member Council.   This announcement follows the Federal Maritime Commission’s (FMC) December 2,

Matson Reports Q4 Earnings Per Share $3.90

Photo: Matson

 Honolulu-based Matson Inc reported fourth-quarter net income of $166.9 million. On a per-share basis it has profit of $3.90.    The ocean transportation and logistics services company posted revenue of $516.1 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $503.

iContainers to Represent Spain at 4YFN

Photo: iContainers

iContainers, a 100% online freight forwarder, has been chosen as one of the 32 most innovative and disruptive companies to represent Spain at the Spanish pavilion at this year’s 4YFN (4 Years From Now), a business platform for startups that’s being held in conjunction with the Mobile World Capital in Barcelona from February 26 to 28 this year.

Noble Energy Profit Beats Estimates

Photo: Nobel Energy

U.S. oil and gas producer Noble Energy Inc reported adjusted quarterly profit on Tuesday that easily beat analyst estimates due to cost cuts and higher crude prices, sending shares surging more than 7 percent in morning trading. The results came as Noble's U.S. shale oil production jumped in the fourth quarter through Dec.

Britannia Appoints Exclusive Correspondent in Taiwan

In a move to maintain the highest possible service levels to its Members in Asia, Britannia P&I has recently made two important changes.   In April last year, Britannia’s Managers, Tindall Riley, acquired the club’s Exclusive Correspondent in Japan, Cornes P&I.   Renamed Tindall Riley (Britannia) Japan,

Morch Elected to J. Lauritzen BoD

Kristian V. Mørch. Photo: Odfjell SE

Danish shipping company J. Lauritzen adds CEO of Norwegian Odfjell, Kristian V. Mørch, and CFO of the cleaning company ISS, Barbara Plucnar Jensen, into its board of directors.  "J. Lauritzen A/S in March 2018, Kristian V. Morch, CEO at Odfjell SE, Norway and Barbara Plucnar Jensen, CFO at ISS UK and

Emas Offshore Appeals Against Oslo Stock Exchange Delisting

Photo: Emas Offshore

 Oslo Stock Exchange has decided to delist the shares of Singapore-based Emas Offshore from trading. The offshore services provider considers this decision detrimental to its ongoing restructuring efforts.   The Oslo Stock Exchange released a statement on Monday, February 19 announcing its intention

MOL Posts Highest Profit in Decade in 2017

 INA Offshore platform. Photo: MOL

 MOL Group announced its financial results for 2017. MOL increased its EBITDA by 14% comfortably outperforming its 2017 target on the back of a strong financial and operational delivery of all business segments.   Organic capex stood at USD 1.04 bln, in line with lowered guidance and slightly higher than in the previous year.

Mercury Marine Returns to "Lake X"

Image: Mercury Marine

Mercury Marine is reviving a piece of its history as the company has agreed to lease the property at Lake X in Central Florida.  Lake X, a pillar of Mercury’s heritage, was designed and built by Mercury Marine Founder E. Carl Kiekhaefer in 1957 and later sold to the Kirchman Foundation, who still owns

Aquaterra Appoints Berven

Christian Berven joings Aquaterra Energy as director of business development. Photo: Aquaterra Energy

Aquaterra Energy appointed Christian Berven as Business Development Director, as it strengthens its EMEA operations by opening offices in Stavanger, Norway. The company, headquartered in Norwich, UK, was the first to secure a multi-million pound investment from EV Private Equity, as part of its pledge

Belships Updates Fleet Status

M/S Belnippon. Photo: Belships ASA

 M/S Belnippon was delivered from Imabari Shipbuilding in January and has been fixed on time charter to Cargill for 10-13 months at USD 11,500/day, says a statement from Oslo-based bulk ship operator Belships.   Belships concentrates on the dry bulk market, with 6 modern Supramax/Ultramax in service.

Dudson Joins Incat Crowther as MD

Ed Dudson. Photo: Incat Crowther

 Incat Crowther has appointed Ed Dudson as Managing Director of its UK business and as a board member contributing to overall business direction.   With more than twenty five years of experience in the design and construction of high performance vessels including fast ferries, wind farm vessels, offshore vessels and patrol boats,

Mundra Port, Port of Montreal Sign Cooperative Agreement

Tony Boemi, Vice-president, Growth and Development at the Port of Montreal, Christine St-Pierre, Québec Minister of International Relations and La Francophonie, Jordan Reeves, Consul General of Canada, Mumbai, Sandeep Mehta, President of Adani Ports and Special Economic Zone and Dominic Marcotte, Consul and Director of the Québec Government Office in Mumbai. Photo: Montreal Port Authority (MPA)

 On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices.

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