The offshore drilling services provider Ensco Rowan plc announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the operator of high-quali...
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LR Gets Italian RO Status
The maritime classification society Lloyd’s Register (LR) has been awarded recognized organization status by the Italian flag administration and is now authorized to issue statutory certification on its behalf to all seagoing ships sailing with the Ita...
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DNO Completes $400mln Bond Placement
The Norwegian oil and gas operator focused on the Middle East and the North Sea, DNO ASA said it has completed the private placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.375 percent.The bond placement…
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Maersk in Sale, Leaseback Pact with ICBC
Danish tanker shipping company Maersk Product Tankers has just entered a sale-and-leaseback agreement for four medium range (MR) vessels with the Chinese bank, Industrial and Commercial Bank of China (ICBC).The four ships were built in 2015…
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Maersk Adds APM in Logistics Division
A.P. Moller - Maersk said it will integrate APM Terminals' Inland Services division into Maersk's Logistics and Services division beginning August, providing customers with seamless access to a wider range of logistics & services offerings."This is a n...
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EC Launches Blue Economy Report
European Commission launches the second edition of its Blue Economy Report during the 2019 European Maritime Day conference in Lisbon.Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella said: “Coastal regions are home to 214 mill...
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PSA, SATS Mull Multimodal Transport Hub in Singapore
Port and terminal operator PSA International and ground handler and in-flight caterer SATS have signed a Memorandum of Understanding (MoU) to collaborate in seamlessly connecting their sea and air transport services, with the goal of improving…
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SpaceX postpones Starlink satellite launch again, for ‘about a week’
A SpaceX launch already scrubbed once due to inclement weather was postponed again nearly 24 hours later on Thursday, this time for "about a week," in order to update satellite software and "triple-check everything," Elon Musk's rocket company said.
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Tanker Rates Firming Up: Frontline
The middle of the first quarter in 2019 saw tanker rates firming significantly, driven mainly by an increase in US exports, said Frontline Ltd. is the world's largest oil tanker shipping company.The tanker market pulled back in January due to…
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ZEABORN Acquires CPO Tankers
The international law firm Watson Farley & Williams (WFW) advised Bremen-based Breakbulk shipping line Zeaborn Group (ZEABORN) on its acquisition of Claus-Peter Offen Tankschiffreederei (CPO Tankers).ZEABORN acquired CPO Tankschiffreederei from the Off...
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