Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd
Russia's defense ministry on Friday confirmed for the first time that the crew of the missile cruiser Moskva suffered casualties when it blew up and sank last week, a report from RIA news agency indicated.Russia initially said all the ship's crew were evacuated after an ammunition blast triggered by a fire ripped through the Moskva, the flagship of its Black Sea fleet.
Tunisian authorities intensified efforts on Saturday to avoid an environmental disaster after a merchant fuel ship carrying one thousand tons of fuel sank off the coast of Gabes on Friday, two security sources told Reuters.The Tunisian navy had rescued all seven crew members from the ship, which was heading from Equatorial Guinea to Malta
London’s marine insurance market on Monday added all of Russia’s waters to its list of areas deemed high risk, an advisory showed.Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd’s Market Association (LMA) and representatives from the London insurance company market, is watched closely and influences underwriters’ considerations over insurance premiums.
The U.S. Senate on Thursday unanimously passed a bill to improve oversight of ocean shipping, a step supporters say will help ease export backlogs.The Ocean Shipping Reform Act, led by Senators John Thune and Amy Klobuchar, would strengthen the investigatory authority of the Federal Maritime Commission (FMC), the U.S.
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.U.S. West Texas Intermediate crude ended $2.
Shipping group Maersk on Friday posted better than expected fourth-quarter revenue and earnings, fuelled by record freight rates for container shipping.A fall in ocean-going container volumes by 4% in the last three months of the year was more than offset by freight rates improving 80% compared with a year earlier.
Nashville-based Ingram Marine Group, one of the largest barging companies in the U.S., announced Monday that David O’Loughlin will retire from his role as CEO. He will be succeeded by John Roberts, the company’s current chief operating officer, who will take the helm as the new president and CEO on February 1.
The National Transportation Safety Board issued 10 safety recommendations Tuesday during a public board meeting held to determine the probable cause of the fatal August 21, 2020, hazardous liquid pipeline strike and subsequent explosion and fire aboard the dredging vessel Waymon Boyd.
A fire that started on a cargo ship carrying timber off Sweden's west coast on Saturday was still raging on Tuesday, authorities said, though it had not spread to the ship itself.Several organizations including the Swedish coast guard are fighting the cargo fire on the Almirante Storni, anchored off Gothenburg.
The Panama Canal moved more than a half a billion tonnes of goods over the last year, the canal's top official said on Thursday, marking a record high for the key global waterway as international trade picked up.Ricaurte Vasquez, the Panama Canal Authority's administrator, told reporters during a webcast news conference that 516.
Bad weather off Canada's Pacific Coast on Monday prevented a salvage crew from boarding a cargo ship where several containers of chemicals burned over the weekend, the coast guard said.Sixteen crew members were evacuated from the MV Zim Kingston on Saturday. Five remained onboard to fight the fire, which was largely under control by late Sunday.