China Cosco Holdings Co., the nation’s biggest container shipper, priced shares in its initial public offering at the bottom of a sale range on concern declining shipping rates will cut earnings. China Cosco raised HK$9.52 billion ($1.22 billion) after selling 2.24 billion shares at HK$4.25 each, ba
Every division was closely contested in the Rolex Swan European Regatta at Cowes last week, but none more so than in the small boats of Class B. Swan 441 Menenes kept her nerve with a very consistent performance in the light north-easterly winds of the final day, finishing third in both races to win
Team New Zealand’s chances of winning act five of the America’s Cup pre-regatta appear to have ended at a congested mark rounding on day two of the fleet racing regatta in Valencia. The Emirates-sponsored syndicate picked up a first and a ninth in the opening day of the regatta and followed it up wi
Maritime authorities were on alert today for a woman reported missing from a cruise ship off the Caribbean coast of Mexico, a Carnival Cruise Lines representative said. The woman was reported missing at 11 a.m. on Friday by her husband as the cruise ship Elation was returning to Galveston, Texas, af
The East Timorese Parliament has reached agreement on the management of revenue generated from a new batch of oil and gas fields. The Parliament unanimously passed the first of three laws that paves the way for the exploration of potential petroleum reserves in the country’s undisputed maritime regi
VT Halter Marine Inc. has signed a $16.3 million contract to build a catamaran lift barge for a dam-building project in Illinois. The catamaran lift barge is being built for Washington Group International and its joint venture partner, Alberici Group.
India has set a date for the start of a $500m project to open to shipping the narrow stretch of ocean between the southern tip of India and Sri Lanka.
South Korea’s HANJIN SHIPPING CO. (KSE:000700) will open a new shipping route linking Asia, the Middle East and the Mediterranean.The new route links Shanghai, Yantian, Singapore, Genoa, Fos, Valencia, Gioia Tauro, Jeddah and Khor Fakkan. * Hanjin plans to launch a joint operation with UNITED ARAB S
PTC, the Product Development Company, jointly announced with Wuchang Shipyard the implementation of PTC’s shipbuilding solution comprising Windchill PDMLink, Windchill ProjectLink and CADDS 5i, which will be used as a production design management platform in Wuchang Shipyard.
Richmond’s history is forever intertwined with the shipyards that initiated the city’s World War II-era population surge. While those shipyards created opportunity for thousands of workers, the decline and ultimate departure of those powerful economic influences created a climate of unemployment tha
Team New Zealand beat BMW Oracle in the in the pre-America’s Cup yachting regatta off Valencia today to complete the series with 10 wins from 11 races. However, yesterday’s loss to defending America’s Cup champions Alinghi meant they completed this fourth series of races leading into the America’s C
With a need for reliable training conditions, the Ericsson Racing Team will set up their training camp in Vigo, on Spain’s Atlantic coast. Davila Sports Marina will host the team until the race start late this year. The waters off Vigo will provide excellent training and testing opportunities and Da
South Korea is in favor of utilizing whale resources but cannot say whether it agrees with whale hunting, Minister of Maritime Affairs and Fisheries Oh Keo-don said Monday. Oh told reporters after the opening ceremony of the International Whaling Commission’s (IWC) 57th assembly meeting that South K
The Pakistani and the U.S. navies will hold joint exercises from Tuesday in the Arabian Sea aimed at ensuring waters near some of the world’s most important shipping lanes remain trouble-free, officials said on Monday.
