Green Marine
Paragon Shipping Sells Vessel to Chop Loan
Greek dry bulk shipping company Paragon Shipping Inc. has sold its 72,493 dwt Panamax bulk carrier M/V Kind Seas for USD 3.5 million to an unaffiliated third party. The total net proceeds of the vessel sale will be paid towards an immediate prepayment of the company’s loan facility with Bank of Irel
Rotterdam Unions and Employers Returning to Negotiating Table
The Port of Rotterdam Authority is scheduled to meet with the trade unions today to hold exploratory talks with both the unions and the employers with the aim of avoiding further industrial action at the port. Namely, the Dutch dockers’ union FNV Havens staged a 24-hour strike at the port on January
Star Bulk Breaches Minimum Bid Price on Nasdaq
Greece-based dry bulk shipping company Star Bulk Carriers Corp. has breached the minimum bid price requirement of USD 1 per common share on the Nasdaq Global Select Market. The company received a letter from Nasdaq, dated January 6, 2016, stating that its minimum bid price was below the requirement
Readers’ Picks of the Week (Jan 4 – Jan 8, 2016)
ISIS Attacks Libya’s Largest Oil Port Libya’s largest oil port of Sidra was attacked early Monday by Islamic State militants who were trying to seize the port… Read More Four Cruise Ships Joining Carnival’s Fleet in 2016 Cruise shipping giant Carnival Corporation & plc said it will launch four new s
ITF, ETF Stand Firm behind Rotterdam Dockworkers’ Strike
The International Transport Workers’ Federation (ITF) and European Transport Workers’ Federation (ETF) voiced their support to the affiliated Dutch dockers’ union FNV Havens as they began industrial action on Thursday 7 January at the Port of Rotterdam. Union members walked out of work and onto the
StreamLines Includes Tilbury Terminal in Its Service
Curacao-based shipping and logistics company StreamLines has launched a new weekly service Blue Stream, which will make its inaugural call at UK’s London Container Terminal (LCT) in Tilbury on February 12. The stop is a part of the company’s new service linking Northern Europe to and from the Caribb
MarineTraffic Supports Equasis with Positioning Data
The AIS vessel tracking service MarineTraffic has started supplying geographical positioning data to the Equasis project, a European Commission initiative started in 2000 which makes ship safety information more widely available. The Equasis project makes information, including a vessel’s age, owner
Klaipeda Port Eyes Further Capacity Buildup
The Lituanian port of Klaipeda will invest USD 25.4 million in preparatory works for large investment projects planned to take place in 2017, local media quoted port’s chief executive officer Arvydas Vaitkus. With this investment, the port will undertake minor improvement works, including quay upgra
Update: Rotterdam Dockworkers Launch 24-Hour Strike
The ultimatum given by Rotterdam dockworkers’ union FNV Havens to their employers at the port and the port authority has expired and the unions have launched a 24-hour strike earlier today, the union confirmed. As disclosed, the strike is taking place at the ECT Delta Terminal, at Uniport and APM te
European Commission OKs Crystal Nordic JV
The European Commission has approved a chemical tanker merger between the Marshall Islands-based Borealis Maritime and Danish tanker operator Nordic Tankers. Through the joint venture company, Crystal Nordic AS, the companies would combine some of their stainless steel chemical tankers business in E
Drewry: Container Shipping Losses to Cap USD 5bn in 2016
Freight rates for container shipping are expected to experience a further fall in 2016 as the supply-demand imbalance continues widening resulting in more losses for boxship owners, according to shipping consultancy Drewry. Many stakeholders point to the fact that bunker prices of for example USD 14
Slashing Capacity the Only Way to Go for Shipping
The shipping industry is to remain volatile and indispensable in 2016, international accountant and shipping adviser Moore Stephens says. According to Moore Stephens shipping partner Richard Greiner, the dry bulk sector will probably have to reduce the newbuilding orderbook and increase ship recycli
Lisbon Dockworkers Extend Strike until End of January
The dockworkers’ union plans to extend its strike in the Port of Lisbon, Portugal until the end of January, claiming that they are yet to receive their December salaries, local media report. The dockworkers have been protesting since November 14th, the date when their previous collective agreement e
Idle Containerships Quintuple in 2015
The global idle containership fleet at the end of December 2015 hit a record high with a total capacity of 1.36 million TEU, which represents five times more compared to 0.23 million TEU at the beginning of the year, market analyst Alphaliner reports. The idle containership fleet stood at 331 vessel