Green Marine
New Container Weighing Rules Explained
The amendments to the SOLAS (Safety of Life at Sea) Convention on the new container weighing regulations due to take effect globally on July 1, 2016, now prescribe that all packed shipping containers need to have a verified gross mass (VGM) before they can be loaded on a ship for export. SOLAS amend
Infographic: Greatest Ocean Treasures Ever Found
Did you know that a gold bar found off the coast of South Carolina was sold for a record breaking USD 7.5 million? Maybe today’s article on the bountiful seas that hold as many as three million shipwrecks scattered across the ocean floor will give you a better picture of some of the greatest shipwre
Venice to Use More LNG than Other Northern Adriatic Ports
The Port of Venice expects highest consumption of liquefied natural gas compared to other Northern Atlantic ports such as Trieste, Rijeka and Koper. Namely, Venice will use 160,584 tons of LNG for maritime transport, Trieste is expected to use 22,062 tons of LNG for the same purposes, while Rijeka a
Antwerp Port Prepares for Operations on the Left Bank
The Belgian Port of Antwerp’s left bank is expected to become the main focus of container handling in Antwerp as the port authority endeavors to reach maximum connectivity for this part of the port. According to the port, the focus will shift from the port area on the right bank of the Scheldt, wher
Moody’s Lifts SCF’s Outlook from Negative to Stable
Rating agency Moody’s has changed from negative to stable the outlook on the Ba2 corporate family rating (CFR) and the Ba2-PD probability of default rating (PDR) of Russian shipping company Sovcomflot PAO (SCF). The stabilisation of the outlook on SCF’s Ba2 CFR follows Moody’s decision to change the
Maersk, WMU Join in Corruption Awareness Project
The Danish shipowner Maersk Line and the Sweden-based World Maritime University (WMU) have joined forces in a higher education project on corruption awareness known as CORA. The corruption awareness project is co-funded by the A.P. Moller Support Fund and Maersk Line. As part of the CORA project, WM
More Green Ships Visit Antwerp Each Year
The Belgian Port of Antwerp is handling ever bigger number of environmentally-friendly seagoing ships each year, according to the results of the Environment Ship Index (ESI) introduced in Antwerp in 2011. During the first nine months of 2015 the port had already granted discounts for 671 calls, up f
Kidnapped Polish Crew Released
The kidnapped Polish crew, including the captain of the Cyprus-flagged MV Szafir cargo ship has been released, Polish Foreign Affairs Ministry informed. “We would like to announce that the five Polish sailors who were abducted off the Nigerian coast on 27 November have been released. They are safe a
TEN Continues Share Repurchase
Greek tanker owner and operator Tsakos Energy Navigation plans to resume its stock repurchase program for open market purchases for its common and/or its preferred shares. The company said it still has up to USD 20 million available from its previously authorized program and will realise such repurc
Star Bulk Sells Four Bulkers
Greece-based dry bulk shipping company Star Bulk Carriers Corp. has signed agreements to sell two Capesize vessels and two Kamsarmax vessels for an aggregate gross price of USD 122 million. The company did not disclose the buyers, nor the names of the vessels. The bulkers are expected to be delivere
Secondhand Capesize Bulker Joins Seanergy Maritime
Greek owner and operator of dry bulk vessels, Seanergy Maritime Holdings Corp., took delivery of a 179,238 DWT Capesize dry bulk vessel, which has been renamed to M/V Championship. The M/V Championship, which was built in 2011 by Sungdong SB, will be employed in the spot market. Seanergy said that i
RoRo Traffic Flourishes at Port of Rotterdam
The Dutch Port of Rotterdam’s RoRo market, which focuses strongly on the United Kingdom, recorded an 11.4 percent increase for this year, compared to the last year’s increase of 8 percent. “There are a number of reasons for the sharp increase,” says Rob Mittelmeijer, Freight Commercial Manager at St
BW LPG Ups Aurora Stake
Singapore’s owner and operator of very large gas carriers BW LPG Limited has acquired 3 million shares in Oslo-listed Aurora LPG Holding ASA, representing 10.34% of the outstanding shares in the company. As a result of the transaction, BW LPG now holds a total of 3.59 million shares in Aurora LPG, r
Paragon Shipping to Settle Debt through Vessel Sale
Athens-based Paragon Shipping Inc. has entered into an agreement with Commerzbank AG for the settling of all amounts outstanding under a USD 57 million facility in exchange for the net sale proceeds of three mortgaged vessels. Under the facility, approximately USD 38.2 million is currently outstandi