Green Marine
Safe Bulkers Takes New Loan to Refinance Debt
Dry bulk shipping company Safe Bulkers has completed prepayment of three credit facilities, in the total amount of USD 82.4 million, the company said. The credit facilities are related to one Capesize class vessel, one Post-Panamax and one Panamax class vessel. The prepayment resulted in the release
Cosco Ups Its Offer for Piraeus
Greece accepted on Wednesday the improved offer tabled by China’s port operator Cosco Group (Hong Kong) Limited for the obtaining of 67% stake in the country’s largest port of Piraeus. Cosco, which was also the sole bidder in the tender, submitted the offer last week, however the fund requested that
New DP World JV to Inject USD 2 Bln in Russian Ports
Global port operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture company targeting ports, transportation and logistics infrastructure in Russia. The two parties signed a document determining the key terms and principles of the joint venture in which DP Wo
VIDEO: Baltic Ace Resurfaces
The wreck of the car carrier Baltic Ace, which sank off the Dutch coast on December 5, 2012, was removed from the seabed of one of the busiest shipping lanes which provides access to the Port of Rotterdam by the end of October of 2015. The video above shows the highlights of the process which [&hell
Diana Shipping Continues Charter Spree
Greek dry bulk shipping company Diana Shipping Inc. has entered into a time charter contract for one of its Newcastlemax dry bulk vessels, the MV Philadelphia, with Germany-based RWE Supply & Trading GmbH. The vessel will be chartered out under a gross charter rate of USD 6,450 per day, minus a 5% c
Norden’s Vessel Write-Down Drives Its Operating Loss
The Danish shipping company Norden expects an increased operating loss in 2015 after writing down the value of its dry cargo fleet and making provision with no cash flow effect of USD 340 million. The company now predicts an operating loss of USD 297 to 277 million, compared to the previously expect
Spotted: Siem Daya 2 Powers Up at Kristiansand
In today’s article we spotted for you Siem’s offshore support vessel Siem Daya 2 taking a breather in snow-clad Norway. The offshore support vessel is the first ship to connect to the new shore power facility in Kristiansand port. The port received its shore power plants supplying up to 1200 kVA ada
Greek Shipowners: No Need for Changes to Tax Regime
The Union of Greek Shipowners disagrees with the European Commission’s recently published decision alleging that some provisions of the Greek shipping taxation regime are in breach of EU state aid provisions. In December, the Commission sent a set of proposals to Greece asking it to change its marit
Aegean Marine Petroleum Ventures into South America
Greek marine fuel logistics company Aegean Marine Petroleum Network Inc. is planing to expand its operations to the South American market during the first quarter of 2016. The company’s new office will be based in Rio de Janeiro, Brazil, and will manage an asset-light physical supply and back-to-bac
Euronav Disposes of VLCC Famenne
Belgium-based tanker operator Euronav NV has sold its wholly-owned 298,412 dwt very large crude carrier (VLCC) Famenne for USD 38.4 million to an undisclosed buyer. The 2001-built vessel, one of the company’s two oldest VLCC vessels, is expected to join its new owner in the course of the first quart
Interview: Rotterdam Dockworker Crisis Could Be Cleared by End of March 2016
A solution to the dockworker crisis in Rotterdam could be found by the end of March, according to FNV Havens’ Secretary, Niek Stam, as unions and employers return to the negotiating table. Following a series of talks between the Port of Rotterdam and the trade unions, which fell through as the port’
Safe Bulkers Fixes Its Post-Panamax Vessel
Monaco-based drybulk transportation company Safe Bulkers has entered into a time charter deal for one of its 87,000 dwt Post-Panamax-class vessels with an undisclosed client. The charter deal was signed for a duration of 30 months, with a forward delivery date in April of 2016, for a gross daily cha
Fire Breaks Out in Star Maria’s Cargo Holds in Venice
A fire broke out yesterday in cargo holds of bulk carrier identified as Marshal Islands-flagged Star Maria while the ship was docked in Italian port of Maghera, Venice. The local firefighters were dispatched to the scene at 18:50 local time to contain the fire which is believed to have started due t
Wärtsilä Upgrades World’s Largest Homes on Water
The largest, private, residential ship on the seas, The World, operated by Fort Lauderdale-based ROW Management, Ltd., will be upgraded with a Wärtsilä Advanced Wastewater treatment system and a Wärtsilä Nacos Platinum system for navigation and external communication purposes. The Wärtsilä Advanced