Eagle Bulk reports record full year profit
“Despite a weaker rate environment, our Q4 results cemented a record annual profit of roughly $250 million for 2022,” said Gary Vogel, CEO of Stamford, Conn., headquartered Eagle Bulk Shipping Inc. (NYSE:
Shipping
CIT provides financing for Purus ammonia carrier acquisition
First Citizens Bank reports that its Maritime Finance group, part of its CIT division, has provided financing to Purus Clean Energy, a subsidiary of Purus Marine, to support the acquisition of the
Sanctioned Singapore oil and gas trader reacts to OFAC designation
On February 9, Singapore’s Unicious Energy Pte Ltd was among nine companies targeted by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for facilitating the sale and shipment
John Fredriksen seeks seat on Euronav board
In the latest plot twist in the ongoing drama following the collapse of the planned tanker mega merger of Euronav and Frontline, Famatown Finance Limited today announced that it intends to propose
Maersk’s record breaking year ends on a muted note
In line with its earlier guidance, A.P. Moller – Maersk (Maersk) delivered a full-year 2022 revenue that was increased by 32% to $81.5 billion, while EBIT increased by 57% to $30.9 billion
MSC and Maersk will end 2M alliance
In a move that will cause few tears to be shed by those who think the liner shipping industry is far too cosy, anyway, container shipping giants Mediterranean Shipping Company (MSC) and
VIDEO: NorthStandard P&I merger set to trigger
The merger of two major players in the marine mutual insurance market — North P&I and Standard Club — is set to come into effect on February 20, establishing NorthStandard as one
Euronav seeks arbitration on Frontline merger walk away
The drama following the collapse of the planned tanker mega merger of Euronav and John Fredriksen’s Frontline continues. On Monday, the Saverys family demanded that Euronav call a special general meeting with
Norvic Shipping charters in newbuild ultramax
Dry bulk operator Norvic Shipping has entered a long-term period-charter for a newbuild 64,000 dwt ultramax. The charter deal was signed in Norvic’s New York City office with Japanese shipowner Fujimaru Kaiun,
Frontline pulls out of Euronav acquisition
The wedding is off. John Fredriksen controlled tanker giant Frontline plc is no longer to pursue the tanker mega merger with Antwerp-headquartered Euronav NV first announced back in April last year. The