China's cabinet on Tuesday (Dec 29) approved a deal that fuses two of the country's biggest state-owned transport and logistics firms, reports Reuters. China's cabinet has approved China Merchants Group's acquisition of Sinotrans & CSC Holdings Co…
Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
The EU Commission has accepted a comprehensive rescue plan for the German shipping bank - HSH Nordbank - which will offload approximately USD 7 billion of its troubled assets back onto the government and privatize. The bank's owners, which bailed out HSH in the financial crisis…
Tidewater Inc. announced today a first quarter net loss for the period ended June 30, 2015, of $15.1 million, or $0.32 per common share, on revenues of $304.8 million. For the same quarter last year, net earnings were $43.7 million, or $0…
A joint venture between Mitsubishi Corp subsidiary MC Asset Management and Seamax Partners has held a $300m final close for its debut fund, which will target container shipping. Seamax Partners is the manager of MC-Seamax Management Limited…
Honeywell unveils the TAM-442 satellite terminal for asset tracking and monitoring. This battery-powered terminal from Honeywell Global Tracking, a division of Honeywell Scanning and Mobility, is rugged, versatile and ideally suited for tracking a wide range of mobile and fixed assets…
New office increases the capacity of the AVEVA Center of Excellence for Operations Integrity Management Solutions AVEVA announced that it is opening a new Center of Excellence for Operations Integrity Management Solutions for Owner Operators (OOs) in the oil and gas…
ABS Group has announced the release of a new offshore Asset Integrity Management (AIM) service focused on driving operational reliability, efficiency and profitability for asset owners and operators. The AIM services are delivered by a newly…
Mining firms aim for simplification rather than growth; Rio's coal division worth at least $3.6 billion-Jefferies.In its latest effort to slash costs as commodity prices fall, Rio Tinto is letting go its energy chief and rolling its coal and uranium businesses into two other units…
Training and mentoring of coastguards in Africa, Middle East and South East Asia is essential if coastal nations are to have effective control over their Territorial Waters and Economic Zones, says maritime security company Maritime Asset Security & Training Ltd (MAST)…
Norwegian Energy Company ASA (Noreco) has agreed to transfer its 30 per cent ownership in PL484 in the Norwegian Sea to North Energy ASA (North). The transfer is subject to government approval.Further, the companies have agreed that Noreco…
DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling offshore assets to marine contractor and long-term partner GeoSea. GeoSea has…
French state-controlled nuclear group Areva will further cut back its investment budget and sell more assets to shore up its balance sheet, and the position of Chief Executive Luc Oursel is under threat, French daily Les Echos said on its website on Monday…
Conglomerate Israel Corp said on Monday that as part of it plans for a reorganisation, it is possible that Nir Gilad will step down as chief executive officer.'No decision has been taken on the matter,' the company said in a statement without providing provide further details…
Report explains how Dutch banking groups deal with risks involved with shipbreaking The NGO Shipbreaking Platform, a global coalition of human rights, labor rights and environmental organizations working to prevent dangerous and dirty ship recycling practices worldwide…
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