Green Marine
US Ships First Oil After 40-Year-Long Export Ban
The first export cargo of U.S.-produced crude oil has departed the port of Corpus Christi on board Theo T crude oil tanker in less than two weeks since the lifting of the 40-year export ban. The cargo of oil and condensate completed loading at NuStar’s North Beach Terminal located in the port of Cor
One Dead, Two Injured on Board COSL Rig
One person has died and two other were injured as a result of the breaking wave that hit the drilling rig COSL Innovator on Wednesday, December 30, Statoil and COSL confirmed. COSL Innovator is under contract to Statoil at the Troll field in the North Sea, west of Bergen. As informed, the two injure
Happy New Year 2016!
World Maritime News team wishes all our readers joyous holidays and a happy and prosperous New Year! We would also like to thank our readers for continuous support over the year and we look forward to bringing you the latest stories about the maritime world next year as well. May 2016 bring you fair
Spotted: Koper Handles Its Largest Boxship
Slovenian Koper Container Terminal welcomed its largest container vessel on Tuesday, December 29th, the MSC Luciana. The MSC Luciana is the largest container vessel in terms of TEU capacity to visit Koper – it can carry 11,660 standard 20ft containers. With the four shore to ship cranes the terminal
Trelleborg Seals Marimatech Takeover
Trelleborg has finalized the acquisition of Marimatech A/S, a company specializing in marine positioning and piloting systems, primarily in the development of software used for docking or mooring ships offshore or in ports. The acquisition will broaden and supplement Trelleborg’s product portfolio w
IM Skaugen Ends Market Maker Deal with SEB
Norway based marine transportation service company I.M. Skaugen SE (IMSK) has terminated the market maker agreement with Swedish financial group Skandinaviska Enskilda Banken AB (SEB). Skaugen had the agreement in place since May 2011 with the aim of providing more and better liquidity for the compa
Globus Maritime’s CEO Steps Down
The President, Chief Executive and interim Chief Financial Officer and Director of dry bulk shipping company Globus Maritime Limited, Georgios K. Karageorgiou, has resigned from the position for personal reasons effective December 28, 2015, Globus said. Athanasios Feidakis, the company’s current Non
Court Dismisses Ilmarinen Claims against Finnlines
The Supreme Court of Finland has today upheld the judgment rendered by the Helsinki Court of Appeal on 29 November 2011 and dismissed all claims presented against Finnish shipping company Finnlines Plc by Mutual Pension Insurance Company Ilmarinen. In its action Ilmarinen had objected to the decisio
Norden Sells Second-Hand Capesize
Danish shipping company Dampskibsselskabet NORDEN A/S (Norden) has decided to sell the Capesize dry cargo vessel Nord Power built in 2005. Norden said that the sale would entail an accounting loss of USD 12 million, which will be included in the annual results for 2015. The 176,000 tdw vessel will b
TIL’s Shareholders Cash In on VLCCs Sale
Oslo-listed Tanker Investments Ltd. plans to reap around USD 50 million in net proceeds for its shareholders from the sale of the VLCC duo to National Shipping Company of Saudi Arabia (Bahri). TIL confirmed the sale in a stock exchange filing today, saying that it has agreed to sell its two 2010-bui
Concordia Maritime Charters Out P-MAX Tanker
Swedish tanker shipping company Concordia Maritime has signed a contract with an undisclosed Chinese shipping company to charter out a P-MAX tanker. The contract is for two years and comes into effect in late January/early February 2016. “The contract is fully in line with our fleet and earnings str
TOP Ships Inks Loan Deal
Nasdaq-listed tanker owner TOP Ships Inc. has entered into an agreement to borrow up to USD 15 million from Family Trading Inc., a company affiliated with its President, Chief Executive Officer and Director, Evangelos J. Pistiolis. TOP Ships said that the loan may be used to fund only the company’s
Maersk Line Starts Workforce Cuts
Danish container shipping giant Maersk Line, Maersk Group’s container shipping arm, is cutting 110 jobs at its Copenhagen headquarters as part of the previously announced savings plan. This is only the beginning of the planned reduction of 4,000 jobs expected to take place by the end of 2017. The nu
Diana Signs Charter Deal for Kamsarmax Bulker
Athens-based dry bulk shipping company Diana Shipping has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the M/V Myrto. The 82,131 dwt bulker will be chartered out on a gross charter rate of USD 6,000 per day, minus a 4.75% co