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Britain's A&P Group, which has three shipyards specializing in ship repair, conversion and fabrication, is under new ownership. It has been acquired by Atlantic & Peninsula Marine Services Ltd. whose shareholders include Peel Port Holdings…
Canada's Algoma Central Corporation is to acquire from Upper Lakes Group Inc.(ULG) its partnership interest in Seaway Marine Transport and the vessels and assets owned by ULG and its affiliates and used by SMT in…
Trico Marine Services, Inc. (Pink Sheets: TRMAQ) says it intends to conduct an auction to sell more towing and supply vessels as it continues its exit from the towing and supply business.  The U.S. Bankruptcy…
In the wake of the killings of four Americans last week, U. S. Senator Mark Kirk (R-Ill.) says he will advance anti-piracy legislative options to safeguard U.S. economic and security interests off the coast of…
Oceaneering International, Inc. (NYSE: OII) has named EVP and COO M. Kevin McEvoy to succeed T. Jay Collins as President and CEO immediately following the 2011 Annual Meeting of Shareholders, which is set for May…
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) today announced what BOEMRE Director Michael R. Bromwichj called a "significant milestone." It approved the first deepwater drilling permit since the Deepwater Horizon explosion and…
Days after the ITF warned it would consider a seafarer boycott of pirate infested waters, Somali pirates have seized another vessel and added 23 more hostages to their captives.At approximately 0600 GMT today, the 38,097…
Seadrill is to build two tender rigs at the COSCO Nantong Shipyard in China. The two new units, T15 and T16, are scheduled for delivery in the first quarter and third quarter 2013, respectively. Total…
The A.P. Moller – Maersk Group last week reported a profit of $5 billion for 2010. It said the main factors were increased container rates and volumes, reduced costs per unit and an increased oil…
February 27, 2011

Red ink at OSG

Tanker giant Overseas Shipholding Group, Inc. (NYSE: OSG) reports a net loss for FY 2010 of $134.2 million, or $4.55 per diluted share, compared with earnings of $70.2 million, or $2.61 per diluted share, in…
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