Investment manager EIG Management Company, LLC (EIG) has filed a new lawsuit against Singapore’s Keppel Offshore and Marine (O&M) in the United States District Court, Southern District of New York, in connection with the high-profile Sete Brasil case.
Despite a challenging year for the shipping and offshore sectors, MISC records higher revenue for 2017.
TPL Shipping purchased Everrich 8 for USD24 million and sold it for USD9.37 million.
KITA, KCCI, and MOF, alongside KSA, have signed an agreement to work co-operatively to increase imports and exports for local shipowners.
NYK Car Carrier (China) staff are to be investigated by parent Japanese shipping firm NYK Line over alleged embezzlement of funds.
The total number of LNG carriers on order has fallen to 114, totalling 18.27 million m³, or 24.3% of the existing fleet in capacity terms.
Annual box throughput across Yilport Holding’s global network grew by almost 10%.
With few major losses, many clubs have been looking to maintain current pricing and hand back excess profits from 2017 in the run-up to the annual 20 February renewals.
Th caveat is that container freight rates have not enjoyed a recovery in the wake of continued strong demand, and further consolidation could be required to end the vicious cycles of excessive investment.
After months of discussions with the authorities in New Caledonia, the vessel’s owner Lomar has said that the agreement for how the wreck will be removed has been reached.