The sale, described by Maersk as a “very difficult decision”, provides for the French group to pay A.P. Møller-Maersk USD4.95 billion in Total shares and to assume Maersk oil debt totalling USD2.5 billion.
All Vale’s VLOCs to be sold in mining company's bid to lower depreciation and impairments.
A regulation requiring vessels arriving at Californian ports to manage ship hull biofouling could become an administrative challenge for certain shipowners.
A spokesperson confirmed to Fairplay that shipping company is in talks with Blackrock but 'nothing is definite yet'.
The world’s largest shipbuilding group is turning to investors once again to raise liquidity, after issuing KRW150 billion of bonds in February, also through private placements.
USS John S McCain has arrived pier side at Singapore’s Changi Naval Base, nearly 12 hours after colliding with an oil and product tanker in Singapore waters.
South Korea's Ministry of Employment and Labor has issued a work suspension order on STX Offshore & Shipbuilding following the explosion at an oil tanker at the shipyard, which left four people dead.
Call for practical and efficient regulation: Complying with the impending environmental rules should not exhaust shipping companies, says BIMCO president and Common Progress CEO Anastasios Papagiannopoulos
Channel operator implements a major new stage of fleet rejuvenation with EUR200 million (USD237 million) German order for an LNG-fuelled ro-pax ferry.
Workers were painting the interior of a 12-metre-deep oil tank in the 74,000 dwt tanker when blast occurred.
China Merchant Port Holding is building on its investments in Djibouti which began in 2012.
Privately owned Danish dry bulk and small LPG carrier owner has reduced its losses both in the latest quarter and the first six months of the year, but its chief executive says profitability in dry cargo is still some time away.
South Korean shipbuilder Hanjin Heavy Industries & Construction’s engineering subsidiary will be taken over by its employees after they have been chosen as the preferred bidder.