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Singapore Approves Japan Shipping JV

Photo: Kawasaki Kisen Kaisha

 The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines.   Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK),  announced last year an integration of their

Greece Gets 3 Bids for Thessaloniki Port

Pier A. Photo: Port of Thessaloniki

 Three foreign investors have bid for the majority stake in Greece's Thessaloniki Port, reports Reuters.   Phillipines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity Deutsche Invest Equity Partners had all submitted offers, the report said.

India's Cochin Shipyard Gears up for IPO

Photo: Cochin Shipyard Ltd

 Cochin Shipyard Ltd (CSL),  India's largest public sector shipyard, has filed  initial public offering (IPO)document with  the market regulator Securities and Exchange Board of India (SEBI)  to go public.  The government approved a stake sale of up to 25 percent.   Cochin Shipyard IPO will consist of 34 million shares to raise about INR 1,

UK Chamber Welcomes Immigration Rule Change for International Seafarers

Photo: UK Chamber of Shipping

 The UK Chamber has welcomed an announcement by the Home Office to reform immigration rules for international students, extending the time limit to three years for educational courses which are below degree level but subject to MCA regulations that the applicant must spend 12 months at sea.   Until now,

GasLog Partners buy GasLog Greece

Photo: GasLog

 Greece-based GasLog Partners LP has reached an agreement to buy 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) tanker GasLog Greece from GasLog Ltd.   The aggregate purchase price for the Acquisition will be $219 million, which includes $1 million for positive

Norway's Solstad Offshore, Farstad Shipping and Deep Sea Supply Agree Merger

Photo: Solstad Offshore ASA

 Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017.   The statutory merger plans have been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged.

Trump Greenlights Keystone XL Pipeline, but Obstacles Loom

Donald Trump (Official White House photo)

U.S. President Donald Trump's administration approved TransCanada Corp's Keystone XL pipeline on Friday, cheering the oil industry and angering environmentalists who had sought for years to block it.   The approval reverses a decision by former President Barack Obama to reject the project, but fresh obstacles loom: To get built,

Heading Towards the 2020 Sulphur Limit

Photo: International Maritime Organization (IMO)

 The need for all stakeholders to work towards effective and consistent implementation of the 2020 0.50% global sulphur limit has been highlighted during maritime industry events in Denmark this week.    International Maritime Organization (IMO)’s Edmund Hughes spoke about IMO’s role moving towards the 0.

Cosco Shipping 2016 Profit Dip

Photo: Cosco Shipping International (Hong Kong)

 Cosco Shipping International (Hong Kong) has seen its profit for the year ended December 31, 2016 drop 29 percent to HKD 236.5 million (USD 30.4 million) from HKD 362 million (USD 46.6 million) reported a year earlier.   Although the company’s operating profit dropped to HKD 544.2 million for the full year from HKD 690.

US State Dept to Approve Keystone Pipeline Permit Friday

© Reinhard Tiburzy / Adobe Stock

The U.S. State Department will approve on Friday the permit needed to proceed with construction of the Canada-to-United States Keystone XL oil pipeline, a project blocked by former President Barack Obama, according to two government sources familiar with the process.   The move would mark the beginning

Doyle Urges 2M Partners to Honor Their Commitments

File photo: Hyundai Merchant Marine

Commissioner William P. Doyle of the U.S. Federal Maritime Commission (FMC) calls for honoring commitment to shipping public, American businesses and consumers.   In mid-December 2016, Maersk Line announced that, together with its 2M Alliance partner Mediterranean Shipping Company (MSC), it was entering

As Trump Targets Energy Rules, Oil Companies Downplay their Impact

President Donald Trump (Official White House photo)

President Donald Trump’s White House has said his plans to slash environmental regulations will trigger a new energy boom and help the United States drill its way to independence from foreign oil.   But the top U.S. oil and gas companies have been telling their shareholders that regulations have little impact on their business,

Diana Containerships Launches USD 150 Mln Securities Offering

Photo: Diana Containerships Inc

 Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with the Company,

Judge Orders Exxon to Confer with New York AG on Tillerson Emails

A New York state judge on Wednesday ordered ExxonMobil Corp to work with the New York attorney general's office to try to recover lost emails from an alias account used by U.S. Secretary of State Rex Tillerson when he was the oil company’s chairman and chief executive.   Justice Barry Ostrager, who

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