Singapore-based offshore shipbuilder Otto Marine is seeking insolvency protection from the High Court in a bid to salvage the company and stave off liquidation. According to a report in the Straits Times, crippled with a debt of US$877 million (S$1.16 ...
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Mediterranean Shipping Company Cleans Up Durban Cargo Spill
When a freak storm hit the Port of Durban on 10 October 2017, two cargo containers holding plastic nurdles were dislodged from the deck of an MSC Mediterranean Shipping Company cargo vessel and fell into the harbour. The containers were particularly vu...
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Samuel R. Rubio New CFO of GulfMark Offshore
GulfMark Offshore has announced that Samuel (Sam) R. Rubio will be promoted to the position of Chief Financial Officer upon completion of the filing of the Company’s Form 10-K. Sam will replace James (Jay) M. Mitchell, who will transition his responsib...
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StealthGas Back to Black in 4Q
Liquefied petroleum gas (LPG) carrier and tanker owner StealthGas has reported revenues of $38.4 mill in the fourth quarter of last year, an increase of 2.4% compared to 4Q16. The Greece-based company reported fourth-quarter net income of $748…
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SeaBird Exploration Bags Contract in West Africa
Cyprus-based provider of marine 2D and 3D seismic data and associated products and services to the oil and gas industry, SeaBird Exploration has signed an agreement to provide a source vessel for an upcoming survey in West Africa. The project…
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Egypt uncovers ancient necropolis south of Cairo
MINYA, Egypt (Reuters) - Egyptian archaeologists have discovered an ancient necropolis containing 40 stone sarcophagi, about 1,000 small statues and a necklace charm bearing the hieroglyphic inscription "happy new year".
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Total Lubmarine debuts Environmentally Lubricant
Total Lubmarine has announced the introduction of a new grease product: BIO OG PLUS – an innovative addition to an already comprehensive Environmentally Acceptable Lubricant (EAL) range. Specifically formulated for sensitive applications such as open g...
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Dry Bulk Market Looks Up: J. Lauritzen
Both the dry bulk market and the market for small gas carriers are anticipated to benefit from the expected rise in economic activity in 2018, more so as supply growth will be rather limited in both segments, says J. Lauritzen, the Danish shipping comp...
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BIMCO Relaunches Ship Benchmarking System
BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet. "The Shipping KPI system enables me, as a shipowner, to make rational strategic dec...
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CMA CGM Plans Multi-Temperature Logistics Facility at DP World
CMA CGM, a world leader in maritime transport, is to take a long-term lease and invest in a build-to-suit, multi-temperature warehouse facility at DP World London Gateway Logistics Park. The CMA CGM Group will occupy, through its international freight ...
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