Former highway concession holder turned marine logistics player Silk Holdings is keeping its eye firmly on the ball with its new business direction, saying it will be focusing more on its downstream marine logistics business as its upstream tanker business slows down in line with the oil market slump.

Maersk Maritime and Dubai Maritime City Authority (DMCA) have met to explore new opportunities to collaborate on projects and initiatives in the maritime industry. 

Topaz Energy and Marine has announced the appointments of Martin Helweg as chief operating officer, Hicham Hachkal as Human Resources Director, and Robert Desai as chief commercial officer.  

Malaysian oil and gas firm Yinson Holdings saw net profit for its financial year ended Jan 31, 2017 fall 9% to MYR196.8m ($44.5m) from MYR215.8m previously even though revenue spiked 28% to MYR543.3m from MYR424.4m in 2015.

Shipowners have been advised to hold off on installing expensive new ballast water treatment systems, despite a new standard being introduced later this year. 

OPEC cuts to oil production are helping to stabilise the OSV market in the Middle East compared with other global markets, according to an industry expert.

Rolls-Royce’s marine business slumped to a GBP27m ($33m) loss in 2016 with the low oil price expected to continue to take its toll this year.

The new joint venture between Sharaf Shipping Agency and Ben Line Agencies will allow both businesses to compete on a global level, according to its ceo, Terry Gidlow.

Abu Dhabi Ship Building (ADSB) and Strategic Marine have inked a Memorandum of Understanding to create tenders for a number of aluminium vessels. 

Martek Marine has launched what it claims is the “world’s first affordable” telemedicine service, a move it claims could lead to annual industry-wide savings of up to $168m. 

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