The National Defense Authorization Act for Fiscal Year 2023 sent to President Biden for his signature on December 16, 2022, contains a major expansion of the Capital Construction Fund (CCF) vessel tax deferral program designed to help finance the construction of vessels in the United States. The CCF program, jointly overseen by the U.S. Maritime …
Congress Authorizes Major Expansion of Vessel Tax Deferral Program Read More »
Hafnia will soon welcome 4 new dual fuel LR2 product tanker additions to our fleet. These vessels will be time chartered out to our long-standing customers TOTAL Energies (2) and Equinor (2) and are owned by a joint venture of Hafnia and CSSC Shipping. These new additions are currently under construction and the first of …
Hafnia : Newbuild LNG Additions to the Hafnia Fleet Read More »
Algoma Central Corporation announced that it has acquired two 18,894 dwt product tankers to join the Algoma Product Tankers fleet. Built in 2007, the sister ships were purchased to prepare for the coming replacement of two older vessels in the Company’s Product Tanker fleet. Both vessels are well suited to the Company’s domestic tanker trades. …
Algoma Central Corporation Announces Acquisition of Two Product Tankers Read More »
AMSC ASA is pleased to announce an update regarding the Normand Maximus. Solstad Offshore ASA (“Solstad”) today announced Letters of Award from various subsea contractors for hire of the Normand Maximus for execution of projects in 2023. The projects have a combined duration of minimum 200 days plus additional option periods, with a minimum value …
Evergreen Marine Corp yesterday said that it has acquired a 10 percent stake in Charing Yang Development Co for NT$450 million (US$14.67 million) as the nation’s largest container cargo shipper aims to seek stable dividend income. The investment raises Evergreen Marine’s stake in Charing Yang Development to 50 percent, company president Eric Hsieh told a …
Evergreen Marine acquires Charing Yang stake, boosting holding to 50% Read More »
In November at NYK’s 16th Environmental Management Conference, held online this year, two companies were recognized for their improvement of company value. The two — Nippon Container Yuso Co., Ltd. and Kinkai Yusen Kaisha Ltd. — were selected from among 82 domestic NYK Group companies and presented with certificates of commendation on December 22. NYK …
NYK Group Companies Recognized at 16th Environmental Management Conference Read More »
Noble Corporation plc announced that it has closed a new $350 million secured term loan with a syndicate of banks. The new loan has a three-year maturity and an initial interest rate of Term SOFR plus 3.50%, with margin increases beginning in year two. Additionally, Noble has paid down and terminated the legacy Maersk Drilling …
Noble Corporation plc Completes Refinancing of Syndicated Bank Term Loan Read More »
Seadrill Limited and Aquadrill LLC yesterday announced that they have entered into a definitive merger agreement under which Seadrill will acquire Aquadrill in an all-stock transaction. Upon completion of the transaction Seadrill shareholders and Aquadrill unitholders will own 62% and 38%, respectively, of the outstanding common shares in the Company. The transaction values Aquadrill at …
Seadrill Limited Announces Agreement to Acquire Aquadrill LLC in All-Stock Transaction Read More »
The current Chairman and CEO of Korean Register (KR), LEE Hyungchul extends his tenure for three more years, as he was elected as the company’s twenty-fifth Chairman and CEO at the extraordinary meeting of KR’s general assembly on December 22, 2022. Over his thirty years with KR, Lee has held many senior roles, leading key …
Korean Register reappoints current Chairman and CEO, Lee Hyungchul Read More »
CNC has launched the Yangon Cambodia Express (YCX) as a direct service that links Myanmar and Cambodia to Singapore and Malaysia. CNC is the Intra-Asia short sea specialist of the CMA CGM Group, a global player in sea, land, air and logistics solutions. As CNC’s Yangon feeder service, YCX connects Myanmar with the transhipment hubs …
CNC Launches New Yangon Cambodia Express (YCX) Service Read More »
