Category: Foreign News

Zim cuts loss, negotiating with employees ahead of restructuring

Zim has cut its first quarter loss by 45% to $62 million as it awaits approval of its substantial restructuring proposal. The Israeli box line recorded an EBIT loss of...

Two firms combine strength to acquire LNG assets

Commodities shipper BW Group and Singapore’s Pavilion Energy have agreed to form a joint venture to manage, acquire and charter liquefied natural gas (LNG) shipping...

Vietnam boat sinks after collision with Chinese vessel

A Vietnamese boat has sunk after it collided with a Chinese vessel near a controversial oil rig in the South China Sea, amid tensions between the two nations. Both...

World Maritime University signs MoU with EIMA, Dubai

A Memorandum of Understanding (MoU) on Academic Cooperation was signed in Dubai between the World Maritime University (WMU) and the Emirates International Maritime...

CMA CGM reports marginal increase in Q1 profits

The world’s third largest container line CMA CGM remained the black in the first quarter with a marginal increase in profit to $97m. The French line reported a 1.2 per...

Rosneft to acquire controlling shares in Seadrill

Russia’s Rosneft could buy a controlling stake in the world’s largest offshore driller, Norway’s Seadrill, after saying it was in talks to acquire a significant...

Greenpeace boards Transocean Spitsbergen rig

15 Greenpeace activists boarded the Transocean Spitsbergen semi-submersible drilling rig this morning in protest of Statoil’s arctic drilling plans and the...

UAE, Qatar vie to build region’s first LNG-powered harbour tug

The UAE and Qatar are vying to build the Middle East region’s first LNG-fuelled harbour tug as both announced plans to build such a vessel on the same day, as...

Singapore port charges unlicensed bunker supplier

The Maritime and Port Authority of Singapore (MPA) has charged a Singapore-based company for unlawfully supplying bunker fuels in Singapore port over a few occasions...

Crew locates overturned hull of missing yacht, suspends search

The U.S. Coast Guard says the active search for the four-man crew of the missing yacht, Cheeki Rafiki, was suspended Friday at midnight after 25,000 square miles...

Bangladesh salvages capsized ferry, 54 bodies recovered

Rescue workers in Bangladesh completed the search of a stricken river ferry on Saturday, bringing the number of bodies recovered to 54 two days after the vessel capsized...

Search team sees ‘light at the end of the tunnel’ in search of missing British sailors

The crew of a charter boat taking part in a search for four British sailors missing in the Atlantic Ocean has found some floating debris in the area where their yacht...