Search results for: overseas

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  • 30 September 2014
    Business & Finance

    South Korea’s Samsung Heavy Industries Co. (SHI) has revealed plans to spread overseas by establishing the first facility abroad in an effort to revive production following the merger of Samsung’s shipbuilding and engineering units.  Bloomberg reports that SHI is ready to invest around USD 950 million in the overseas shipbuilding facility by 2017, according to SHI’s […]

  • 7 April 2014
    Business & Finance

    Scottish energy consultancy Tymor Marine, which has offices in Glasgow and Aberdeen, has marked the end of its second year in business by opening its first overseas facility in the United States. The Louisiana-based offices will fulfil the needs of new and existing clients operating in the Gulf of Mexico region. The expansion follows a […]

  • 5 August 2010

    Container shipperOrient Overseas (International) Ltd. said Thursday it swung to a first-half net profit because of improved freight rates due to China’s rapid recovery from the global economic downturn, as well as one-off gains from an asset sale. Orient Overseas, which is controlled by the family of former Hong Kong Chief Executive Tung Chee-hwa, said […]

  • 24 October 2006

    Orient Overseas (International), owner of the eighth- largest Asian container shipping line, placed a $477 million order for four vessels from Samsung Heavy Industries to expand its fleet, Orient said Monday. The ships, which can each carry about 8,063 standard 20-foot, or six- meter, containers, will be delivered between 2009 and 2010 by Samsung Heavy, […]

  • 23 January 2019
    Business & Finance

    OSG orders second 204,000 barrel oil and chemical articulated tug barge (ATB) at Gunderson Marine.

  • 27 November 2018
    Business & Finance

    Overseas Shipholding Group closed on a USD 27.5 million of financing from Wintrust Commercial Finance.

  • 20 January 2015
    Business & Finance, Research & Development

    The recent International Conference on Ocean Energy (ICOE) in Halifax, Canada provided members of the EU-funded MERIKA project with the opportunity to form new partnerships with researchers and institutions on the other side of the Atlantic. MERIKA, run by the University of the Highlands and the Islands (UHI) in the north of Scotland, aims to […]

  • 25 December 2018
    Business & Finance

    Overseas Shipholding Group has closed a five-year USD 325 million term loan credit facility.

  • 27 October 2007

    Propelled by soaring orders from power plants to luxury condominiums, Hyundai Engineering & Construction is expected to post record overseas orders this year. The country’s third-largest builder by total assets secured $3.4 billion worth of overseas orders at the end of September this year. The figure has already surpassed the company’s yearly target.

  • 4 November 2013

    American boat and barges manufacturer Armstrong Marine Inc. has placed an order for the development of a fender system for the 15m STORM. The STORM is a newly developed vessel for high speed patrol & combat, interception & boarding and search & rescue. It combines well proven practice with innovation, and is the culmination of […]

  • 9 March 2015
    Business & Finance

    Hong Kong-based Orient Overseas (International) Ltd (OOIL), the parent company of Orient Overseas Container Line (OOCL), recorded USD 271 million net profit in 2014, a 574% increase compared to USD 47 million reported in 2013, credited to higher revenue and improved cost control. Revenue increased by 3.5%, from USD 6.23 billion in 2013, to 6.52bn in […]

  • 18 January 2017
    Business & Finance

    The share price of Orient Overseas (International) Limited (OOIL), parent company of the container carrier Orient Overseas Container Line (OOCL), continues to trade at a significant discount to book value despite a recent price surge that came amidst speculation that OOIL’s container shipping business unit could be up for sale, according to Alphaliner. While several […]

  • 2 October 2019
    Business & Finance

    Overseas Shipholding Group takes delivery of two 50,000 dwt product and chemical tankers in Korea.

  • 10 November 2017
    Business & Finance

    NYSE-listed Overseas Shipholding Group (OSG) managed to narrow its net loss to USD 6.3 million in the third quarter of this year from USD 98.7 million reported in the corresponding period of 2016.  Shipping revenues were USD 93.3 million for the quarter, down 18.3% compared with the third quarter of 2016. The decrease in shipping […]

  • 29 February 2008

    Overseas Shipholding Group, Inc., a market leader in providing energy transportation services, today announced that Maersk Oil Qatar AS has awarded two contracts to provide Floating Storage and Offloading (‘FSO’) services on the Al Shaheen field off shore Qatar.

  • 10 February 2010

    Essar Shipping Ports & Logistics Ltd. is looking to develop and operate new ports in India and other countries as it expects the segment to contribute the largest share to its revenue by 2014, a senior company executive said. “We are looking at various places, including the U.S. and Canada,” Director V. Ashok told Dow […]

  • 25 March 2015

    Overseas Laura Lynn, one of the four largest supertankers of the world, has completed her routine maintenance work at Drydocks World shipyard. This was the second time that Overseas Laura Lynn visited the yard. The scope of her maintenance work included main engine overhaul, boiler cleaning, cargo & ballast valves overhaul, pipe renewal, and cooler […]

  • 15 February 2016
    Business & Finance

    US tanker company Overseas Shipholding Group, Inc. has reached a final settlement with Proskauer Rose LLP and certain of its partners in connection with the previously disclosed lawsuit brought against that firm by the company. OSG said that as part of the settlement, Proskauer Rose LLP has agreed to release the claims it asserted against […]

  • 9 August 2016
    Business & Finance

    New York-listed Overseas Shipholding Group (OSG), a provider of oceangoing energy transportation services, saw its net income for the second quarter drop to USD 29.9 million from the USD 58.4 million reported in the second quarter of 2015. For the first half of the year, the company’s net income decreased to USD 80 million from USD 101.3 million reported […]

  • 18 January 2007

    Korea’s shipbuilding industry is still the envy of the world, outpacing its foreign rivals in technology, skill and orders. But now, in a quest for cheaper land and labor, some Korean shipbuilders are moving their operations overseas.

  • 7 July 2014
    Business & Finance

    A number of new management appointments have been made at LUKOIL Overseas, the operator of LUKOIL’s international upstream project. Alexander Cornelius has been appointed Vice President for Production Services and Project Support. Sergey Suchok has been appointed Vice President for Production. Marat Salikhov has been appointed West Qurna-2 Asset Manager, combining this with his duties […]

  • 10 August 2015
    Business & Finance

    Hong Kong-based Orient Overseas (International) Limited, a parent company of Orient Overseas Container Line (OOCL), reported USD 238.6 million net profit for the six-month period ended June 30, 2015, a 32% jump compared with USD 181.3 million for the same period in 2014, despite a dip in revenue. OOIL’s revenue for the first six months of 2015 […]