New York City headquartered International Seaways, Inc. (NYSE: INSW), one of the world’s largest tanker operators, reported net income for the first quarter of $33.0 million, compared to a net income of
While SEACOR Holdings Inc. (NYSE:CKH) saw first quarter income fall, it reports that all of its services have been deemed essential — and looks to have gotten a significant boost from tax
Cheap bunker prices are tempting hard-pressed shipowners to send ships “the long way round” and avoid expensive Suez and Panama Canal transit fees. In response, the authorities of both canals are offering
With the collapse in oil prices, partly as a result of COVID-19, huge numbers of tankers are being time chartered for floating storage purposes. As a result, BIMCO is receiving enquiries about
The German Federal Ministry for Economic Affairs said today that Germany, along with four other European countries, is allowing cruise lines to temporarily suspend the repayment of export credits. the move is
In a regulatory filing today, South Korean shipbuilder Samsung Heavy Industries (SHI) disclosed in its regulatory filing that it has won a contract worth a total of $209.2 million to build two
In a statement released yesterday, the Federal Maritime Commission (FMC) said that its authorities and available services remain in place during the COVID-19 situation. It noted that some major tradelanes are currently
In a filing with the SEC, Athens-headquartered dry bulk operator Diana Shipping Inc. (NYSE:DSX) reports that its Chairman and Chief Executive Officer, Simeon Palios, has tested positive for the novel COVID-19 virus.
The U.S. Department of Energy (DOE) is to fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-produced crude oil. Last week, DOE announced a
Oslo, Norway, headquartered RO/RO specialist Wallenius Wilhelmsen says that, with the coronavirus situation evolving rapidly across the globe, it is taking precautionary steps to adjust its operations and safeguard its liquidity going