John Fredriksen controlled tanker giant Frontline Ltd. reported first quarter results that included net income of $165.3 million compared with $40.1 million in the same quarter of 2019. “Frontline achieved its strongest
Fort Lauderdale, Fla., headquartered Maritime Payment Solutions, LLC (d/b/a ShipMoney) has introduced two new services designed to expedite payments to crew members and their families while providing a broad range of remittance
AIS spoofing, painting over ships’ IMO numbers and names, and “flag hopping” are just a few of the tricks of the sanctions-busting trade. Yesterday, the U.S. Departments of State and Treasury, and
GATX Corporation (NYSE:GATX) today announced that it has completed the sale of its American Steamship Company (ASC) business to Rand Logistics, LLC for approximately $260 million in cash proceeds, subject to customary
Kawasaki Heavy Industries’ Sakaide Works has successfully launched Japan’s first LNG bunkering vessel (LBV). The LBV is scheduled to be delivered at the end of September 2020 and will be the first
A.P. Moller – Maersk today reported first quarter results that Danish business daily Børsen characterized as “good numbers, grim outlook.” The company reported revenues from continuing operations of $9.57 billion compared with
In a broadcast today, U.K. Prime Minister Boris Johnson unveiled what he stressed was a conditional plan for easing some COVID-19 restraints and restarting the British economy. Among many other elements the
Antwerp, Belgium, headquartered Euronav NV (NYSE: EURN) reports that it has sold the 2005-built VLCC TI Hellas for $38.1 million. A capital gain on the sale of approximately $1.6 million will be
Helsinki, Finland, headquartered naval architecture and marine engineering firm Foreship has launched an initiative to limit the presence and spread of coronavirus and other pathogens on passenger ships and get the cruise
Following the outbreak of COVID-19, the Paris Memorandum of Understanding on Port State Control (Paris MoU) drafted temporary guidance for its member PSC authorities, recognizing the need to apply flexibility under these