Offshore oil and gas driller Noble Corp said on Friday it had filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices.The company said it would swap all its bond debt, which accounts for more than $3.4 billion of its total debt, with equity in the restructured company.
Danish shipping company NORDEN announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.NORDEN CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of NORDEN’s cyclical market exposure.
The USS Fitzgerald (DDG 62), which suffered heavy damage and nearly sank off the coast of Japan after a fatal collision with a containership in 2017, departed Huntington Ingalls Industries' Ingalls shipyard in Pascagoula, Miss. Saturday following two years of extensive repairs and upgrades. Seven U.S.
On Oct. 10 last year, eight North Korean vessels - several carrying illicit coal shipments - were anchored in Chinese waters off the port of Ningbo-Zhoushan, according to a photo in a U.N. report published online on Friday.That appears to be a lax enforcement by China of U.N. sanctions aimed at curbing Pyongyang’s nuclear program under which countries are required to inspect cargo destined to or
Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed a record cut in output from May of 9.
What might not be so obvious in this COVID-19 environment, which we have grown to associate with shortages, is that counterintuitively there are issues beginning to appear dealing with the opposite situation. The Journal of Commerce has reported that “[t]he container shipping industry is marshaling a response to signs of a building import backlog as some retailers and manufacturers fail to pick
The U.S. Maritime Administration (MARAD) is advising vessel operators to exercise extra caution and safe navigation practices after multiple instances of significant GPS interference have been reported over the last year by vessels in port and underway in the eastern and central Mediterranean Sea, the Persian Gulf, and the Port of Shanghai, China.
A U.S. Federal Maritime Commissioner said he sees some normalcy returning to trans-Pacific shipping amid widespread upheaval brought on by the coronavirus outbreak.Many Chinese manufacturing and logistics services have been severely hampered by the COVID-19 pandemic, in some cases forcing ocean carriers to cancel services to and from China and the U.S.
With the announcements that New York Waterway, a ferry operator running 32 boats around New York and New Jersey waters, had been largely shut down by the U.S. Coast Guard just prior to Thanksgiving, 2019, the reactions ranged from surprise to outright shock. There was also a great deal of grumbling, as commuters, the major customer group
US shipbuilder Metal Shark said it has delivered a new 36-foot welded-aluminum patrol boat to the Policia Municipal de San Juan (San Juan Police Department).The new patrol boat is a 36 Fearless stepped-bottom center console vessel built at Metal Shark’s Jeanerette, La. production facility and custom-configured to meet the specialized requirements of its newest Puerto Rican customer.
Bermuda-headquartered Nordic American Tankers (NAT) said that its tanker segment is on upswing mode following he strong market improvement for its Suezmax tankers."However, seeing is believing and if anyone had doubts, last week, the international shipbroking firm of Clarkson Platou Research reported the largest week-on-week increase in the history of their freight index,"pointed out the company.
US-based owner and operator of dry bulk vessels Eagle Bulk Shipping announced that it has taken delivery of the first of six modern Ultramax drybulk vessels the Company has previously agreed to acquire.The ship, which has been renamed the M/V Dublin Eagle, is a 2015-built, high specification scrubber-fitted SDARI-64 Ultramax vessel built at Jiangsu New Hantong Ship Heavy Industry Co.