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Maersk Line announced today that it has signed a contract with Hyundai Heavy Industries (HHI) for the construction of nine 14,000 teu ships worth a total of $1.1bn.

Forecasting worse times for the oil and gas industry, Technip has announced a restructuring with a savings target of EUR830m ($916m).

The European Commission has approved CMA CGM's acquisition of short sea transport company OPDR.

Torm has revealed that the current good fortune in the product tanker market will not be enough to pull it through its difficulties, as the latest restructuring effort takes off.

Maersk Group and ESE-Holding have sold offshore safety and support outfit ESVAGT to investors for DKK4.1bn ($610m).

BP has reached agreements in principle to settle federal, state and local US claims related to the Deepwater Horizon incident in 2010.

Stolt-Nielsen has reported a new profit of $42.8m as it continues to benefit from the strong tanker market.

Last week shipping  made it to the top spot of Reddit, the self-styled "front page of the internet", and few will be surprised that it was there taking a hammering.

Teekay has agreed with IM Skaugen to buy out the joint venture partner in SPT (formerly Skaugen PetroTrans).

The crew of the Seaman Guard Ohio are to stand trial in India, despite the High Court dropping all charges against them almost a year ago.

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