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Maersk Line Posts $150 Million Loss

August 12, 2016

A.P. Moller-Maersk's progress in cutting costs reassured investors on Friday after the Danish shipping and oil giant reported a sharp decline in quarterly profit and its new chief executive confirmed...

Japan May Give More Patrol Ships To Philippines

August 12, 2016

Japan and the Philippines have begun talks for the transfer of two large coast guard ships to Manila, to help patrol the disputed South China Sea, a Japanese foreign ministry official said on Friday,...

Forecasters Expect Active Atlantic Hurricane Season

By The Maritime Executive

August 12, 2016

The National Oceanic and Atmospheric Administration said Thursday that it expects the 2016 Atlantic hurricane season to be the most active in four years, with a 70 percent chance of seeing 12-17 named...

Captain and Mate of Drug-Smuggling Tug Get 20 Years

By The Maritime Executive

August 12, 2016

On Friday, a British court sentenced tug captain Mumin Sahin, 47, and first officer Emin Ozmen, 51, to two decades imprisonment for trafficking cocaine – $660 million worth, the biggest drug bust in U...

Philippines Seeks Maritime Negotiations With China

August 12, 2016

The Philippines wants formal negotiations with China to explore pathways to peace and cooperation, the Southeast Asian nation's special envoy, Fidel Ramos, said on Friday, after a meeting with former...

Clam Fisherman Dredges Up Chemical Weapons

By The Maritime Executive

August 12, 2016

Early this month, off the coast of New Jersey, the crew of the clam fishing boat William Lee brought aboard a catch they didn't want – discarded military ordnance, likely mustard gas dating back to a...

Ocean Rig May File For Bankruptcy

By The Maritime Executive

August 12, 2016

The George Economou-controlled offshore drilling firm Ocean Rig had an unusual earnings announcement Friday. Revenue for the first half of 2016 was up year over year, at nearly $1 billion; the firm be...

Leftist Candidate Could Threaten Pemex Reforms

August 12, 2016

A firebrand leftist who twice narrowly missed becoming Mexico's president is riding high with a fresh bid for election in 2018, vowing to upend a landmark energy sector opening championed by President...

Asian Cruise Tourism Continues Rapid Growth

By The Maritime Executive

August 12, 2016

On Friday, the Cruise Lines International Association released its annual Asia Cruise Trends review, and the data show that the region continues to outperform all others for percentage growth, up by a...

Port Bronka Starts Up Car Handling Facility

By The Maritime Executive

August 12, 2016

Port Bronka, the new deepwater port in St. Petersburg, Russia was opened by mid of December 2015, and regular services started by January 2016. Now, in August 2016, a new car handling facility was suc...

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