Britain's new Labor government will end the use of the controversial Bibby Stockholm barge to house migrants off the south coast of England as part of its overhaul of the asylum system, it said on Tuesday.Use of the vessel, which can house up to 500 men, began under the Conservative government with the aim of cutting the 8 million pounds a day cost of hotel accommodation for asylum seekers while
The 2024 IMO Award for Exceptional Bravery at Sea is to go to two sets of nominees: the captain and crew of the oil tanker Marlin Luanda for containing a fire after the ship was struck by an anti-ship missile; and the captain and crew of the tugboat Pemex Maya for their rescue of six shipwrecked people from four different vessels during a hurricane.
Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.
Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.
HD Hyundai Marine shares closed up 97% versus their initial public offering (IPO) price in the company's trading debut on Wednesday, after a 742 billion won ($538 million) IPO, South Korea's largest in two years.The successful listing of the ship maintenance and repair firm, backed by U.S. private equity giant KKR, paves the way for other potential offerings to come to market.
KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.
Earlier this week, Secretary of the Navy (SECNAV) Carlos Del Toro along with U.S. Representatives Rob Menendez and Mikie Sherrill visited to Bayonne Dry Dock & Repair Corp. (BDD).As the U.S. places renewed emphasis on navy shipbuilding and ship repair, the SECNAV has made it a point to visit to naval bases, shipyards, depots, training ranges, tarmacs
Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.
S&P downgraded Danish wind power giant Orsted to BBB on Wednesday, citing higher leverage on its balance sheet and major U.S. impairments in 2023 due to supply chain delays and higher costs.S&P said Orsted's business risk profile has weakened from last year, but was still satisfactory.
Mitsubishi Heavy Industries (MHI), and two of its group companies - Mitsubishi Heavy Industries Engine & Turbocharger (MHIET) and Mitsubishi Heavy Industries Air-Conditioning & Refrigeration Corporation (MHI-AC&R) - have commenced joint demonstration testing of a system that liquefies the CO2 captured from gas engine generator sets.