Green Marine
TIL Posts Record Earnings in Q4
Oslo-listed Tanker Investments Ltd. posted record earnings in the fourth quarter of 2015, the company said in its earnings guidance for the three months ended December 31, 2015. According to William Hung, Tanker Investments’ Chief Executive Officer, the earnings were driven by a fully operational fl
Diana Finds Work for Three Bulkers
Greek dry bulk shipping company Diana Shipping has entered into two new charter agreements for two Capesize dry bulkers. Namely, Diana Shipping inked a charter with Nidera S.P.A., Roma for one of its Panamaxes, the 75,172 dwt MV Dione. The gross charter rate for the 2001-built vessel is USD 4,350 pe
Baltic Dry Index Down in the Dumps
The Baltic Dry Index has fell below 300 points, plunging to a new low of 298 points on Thursday, February 4. The Cape Index was down by one point at 208, followed by Supramax index at 271 after a dip of 9 points. Only the Panamax index had a slight improvement with 5 points up […]
Rescue Teams Start Removing Oil from Grounded CSCL Indian Ocean
Authorities started pumping oil from the grounded containership CSCL Indian Ocean on the Elbe River in an attempt to move the vessel as it becomes lighter, the German Federal Waterways and Shipping Administration said. A bunkering vessel arrived on site last night and the tugs Dolphin and Boxer rema
VIDEO: Modern Express Finds Safe Haven in Bilbao
The ill-fated car carrier Modern Express, which has been drifting in rough seas for over a week, safely arrived at the Spanish port of Bilbao in the afternoon of February 3, the Spanish Maritime Safety Agency said. The 10,454 dwt vessel was moored at the port’s dock where it will now be inspected, a
Arctic Liner Shipping to Become Viable around 2040, Suez Set for Two More Decades
The likelihood of the Northern Sea Route (NSR) to replace the Suez Canal in the transportation of the containerized goods is far off, at least for the next two decades, a study shows. Namely, according to the findings from a new report by Copenhagen Business School’s Maritime Division, Arctic liner
Svitzer Firms Presence in the Caribbean
Towage specialist Svitzer has inked a 2.5 year contract to offer marine services at the NuStar terminal in St. Eustatius, the Caribbean starting 4th February 2016. Among the marine services that Svitzer will be providing are berthing and un-berthing of tankers for the terminal, as well as bunkering.
Port of Antwerp Vies for More Attention from Chinese Investors
Belgian Antwerp Port Authority has signed a partnership agreement with the Industrial and Commercial Bank of China (ICBC) following the bank’s decision to expand its presence in Belgium. With this agreement the Port Authority and ICBC plan to seek new opportunities that match the One Belt One Road s
Diana Shipping to Add Three Panamax Dry Bulkers
Greek dry bulk ship owner Diana Shipping has signed three Memoranda of Agreement to acquire three Panamax vessels from a related party for a price tag of USD 39.8 million. The agreements include a 2010 built Panamax dry bulk vessel of 75,700 dwt MV Sunshine, a 2013 built Panamax dry bulk vessel of 7
Ship Owners Still Prefer South Asian Shipbreaking Practices
Ignoring industry leaders and human rights and environmental organisations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015, according to new data released by the NGO Shipbreaking Platform. According to the Platform, 768 large ocean-going
Navios Maritime Cuts Cash Distributions as Its Profit Drops
Greek owner and operator of container and dry bulk vessels Navios Maritime Partners has seen its revenues decrease by more than 10 percent to USD 53.3 million for the fourth quarter of 2015, from USD 59.4 million in the same period of 2014. Navios said that the drop in revenue is mainly attributable
Safe Bulkers Extends Facility Repayment by Two Years
NYSE-listed dry bulk shipping company Safe Bulkers, Inc. has extended the term of its existing credit facility with DNB (UK) Limited by two years from September 2020 to September 2022. The company’s extended facility, which stands at USD 145.5 million, is secured by ten vessels and an additional new
Boxship Giant Grounds on the Elbe River
The 184,320 dwt containership CSCL Indian Ocean, one of the world’s biggest boxships, grounded on the Elbe river in Hamburg in the evening hours of February 3, according to the German Federal Waterways and Shipping Administration. The exact cause of the incident has not been confirmed, however, a po
Strong Tanker Market Pushes Ardmore’s Earnings
Owner and operator of mid-size product and chemical tankers Ardmore Shipping Corporation reported a net profit of USD 5.4 million for the three months ended December 31, 2015, as compared to USD 1.9 million, for the corresponding period in 2014. The company reported a net profit of USD 32.0 million