Green Marine
Samskip Bolsters Norwegian Service
Rotterdam-based transportation company Samskip has expanded its shortsea service network in Norway with Kristiansund and Molde by adding Gjemnes as its 10th port of call. The move follows on from the company’s introduction of the larger capacity 657 TEU container vessel MV Alk into the Norwegian Wes
Star Reefers Adding Service from Vlissingen to Ecuador
Shipping line Star Reefers is launching a new weekly liner service from Zeeland’s port of Vlissingen to Ecuador, for containers and other cargo as of February 3. The decision is part of expansion of the existing Saint Petersburg-Ecuador service, which will make an interim stop in Vlissingen to take
MV Spirit of Hamburg Damaged while Transiting Panama Canal
Singapore-flagged containership MV Spirit of Hamburg suffered an incident while transiting the Panama Canal on its southbound voyage, earlier this week, German carrier Hapag-Lloyd informed. As a result the vessel has been ordered to anchor for further investigation. The crew, the vessel and all carg
BG Shareholders Give Final Nod to Merger with Shell
BG shareholders have voted today in support of Shell’s takeover bid thus securing the final approval for the multi-million merger, the company confirmed. The vote comes one day after Shell’s shareholders gave the green light to the USD 52 billion merger. Shell expects the combination to accelerate i
2016-2020 Outlook: Aframaxes to Outperform Larger Crude Tankers
Limited supply growth in the Aframax sector of only 3.5% through the end of 2020 in addition to paradigm shifts in demand such as US exports and expanded Panama Canal opening will enable this sector to outperform the larger crude tankers, according to the latest report from McQuilling Services. “Afr
2015 a Slow Year for Stolt-Nielsen, Tankers Save the Day
Oslo-listed shipowner Stolt-Nielsen Limited reported net profit in the fourth quarter of 2015 at USD 21.4 million, with revenue of USD 494.6 million, a decrease compared with the numbers recorded in the third quarter of 2015. Namely, the company’s third quarter of 2015 net profit was at USD 30.1 mil
Three German Vessels Land on South Asian Breaking Beaches
German ship owner Norddeutsche Vermögen Holding GmbH & Co and its subsidiary Norddeutsche Reederei Schuldt, a company offering shares in ship funds, have seen another three of their vessels arriving at the beaches of South Asia in 2015, NGO Shipbreaking Platform said. Namely, the vessels in question
UPDATE: Modern Express Taking on Water, Further Adrift
The list of the Panamanian-flagged car carrier Modern Express, now at around 50 degrees, is gradually increasing as the vessel continues to drift about 370 km west of La Rochelle, France. According to the French Maritime Authority, the heavy list indicated that the vessel, carrying 3600 tons of timb
MSC Flaminia Fire Helps EU Develop Guidelines on Places of Refuge
The European Commission presented the new EU operational guidelines for ships in need of assistance in the aftermath of the MSC Flaminia accident, which occurred in July of 2012. The EU operational guidelines were drafted to ensure better coordination and exchange of information amongst authorities
Euronav Steers Back to Black amid Strong Tanker Market
Belgium’s shipping company Euronav NV has reported a net profit of USD 104.7 million in its non-audited financial results for the fourth quarter of 2015 against a net loss of USD 3.9 million posted in the same period last year. EBITDA for the fourth quarter 2015 was USD 160.6 million, also up from l
Captain Sentenced to Two Years for Prestige Disaster
The captain, the British insurer and the owner of the Prestige tanker that sank in 2002 off Galicia, Spain, have been found guilty for one of Europe’s worst environmental disasters, according to the Spanish Supreme Court. The court sentenced the tanker’s captain Apostolos Ioannis Mangouras to two ye
Shell Shareholders Back Merger with BG
Royal Dutch Shell’s shareholders have today voted in favour of the recommended combination between Shell and British rival gas producer BG Group Plc. The announcement comes following today’s General Meeting held in The Hague, The Netherlands. “Shell shareholders expressed their support for the recom
VIDEO: 22 Evacuated as Car Carrier Lists in Bay of Biscay
A crew of 22 people were evacuated after the Panama-flagged car carrier Modern Express started listing some 148 miles off Cape Ortegal, Galicia, in the Bay of Biscay, according to Spanish search and rescue agency Salvamento Maritimo. The crew raised an alarm on Tuesday afternoon as the 10,454 dwt sh
Safe Bulkers Secures 2nd Refinancing Deal
Nasdaq–listed bulker owner and operator Safe Bulkers, Inc. has entered into a new term loan facility refinancing three credit facilities, in the total amount of USD 44.9 million. The loan will be used for one Post-Panamax class vessel and two Panamax class vessels and has been entered into with Dani