Green Marine
Interview: Insufficient Finances Blocking Development of LNG Bunkering
The LNG shipping market has been faced with lower rates amid growing LNG carrier fleet, a drop in liquid fuel prices and a lower demand for LNG in Asian markets. On the other hand, lower shipping rates are good news for sellers and end users of LNG, which is becoming ever more popular as an alternat
Valløby Secures Financing for Chemical Tankers Acquisition
CIT Maritime Finance, part of CIT Group Inc., is providing a USD 40 million senior secured credit facility to Valløby Shipping Ltd. to acquire a fleet of chemical tankers. Valløby is a newly established ship-owner backed by a private equity fund. Financing was provided by CIT Bank, N.A., the princip
WSM Entrusted with Management of Aurora’s VLGCs
Oslo-listed Aurora LPG Holding ASA has entered into a joint venture agreement with Wilhelmsen Ship Management (WSM) for the technical management of Aurora’s VLGC fleet. The joint venture will be named “Aurora Wilhelmsen Managment Ltd” and will be incorporated in Hongkong. “The broad partnership will
DryShips Posts USD 820m Net Loss in Q3
Athens-based owner of drybulk carriers and offshore support vessels, DryShips Inc. has reported a net loss of USD 820 million for the third quarter ended September 30, 2015. Included in the third quarter 2015 results are impairment charges and loss on sales on the entire drybulk fleet of USD 797.5 m
ETF: 2015 Dark Year for Workers’ Safety in European Ports
2015 has been a particularly dark year for safety in docks at European ports, according to the European Transport Workers’ Federation (ETF). “In 2015 European Dockworkers, their families and their unions have mourned colleagues, relatives and comrades who lost their life while working in the ports o
Car Carrier, DFDS Ferry Clash in Humber Approaches
Panamanian-flagged car carrier City of Rotterdam has sustained severe damage in its portside bow following a collision with a DFDS-owned ferry Primula Seaways on December 3 in the Humber Estuary. The ferry is also reported to have been considerably damaged in the crash. No injuries have been reporte
Egyptian-Flagged Bulker Grounds in Istanbul
The Egyptian-flagged bulk carrier M/V Wadi Safaga, owned and managed by Cairo-based National Navigation Company, ran aground at Ahirkapi anchorage, Istanbul, in the evening hours of December 6, Turkish Directorate General of Coastal Safety announced. Despite being warned by the Egyptian Traffic Cont
CMA CGM Makes USD 2.4Bn Offer for Singapore’s NOL
French liner company CMA CGM announced a pre-conditional voluntary general cash offer for Singapore’s Neptune Orient Lines (NOL) subject to the meeting of the relevant pre-conditions. NOL’s majority shareholders, Temasek and its affiliates, have irrevocably undertaken to tender all of their shares i
Cargo Vessel Starts Sinking in Dover Strait
The Antigua Barbuda registered cargo vessel EMS Majestic, owned by German shipping company Fehn Ship Management, started sinking on Sunday some 13 miles south east of Eastbourne, in the Dover Strait, the UK Maritime and Coastguard Agency informed. The UK Coastguard received the mayday call from the
Azeri Oil Rig Fire: At Least One Dead, 30 Missing
One person died and at least 30 were reported missing following a massive fire on December 4 on board an Azeri offshore platform situated in Guneshli field in the Caspian Sea, the State Oil Company of the Azerbaijan Republic (SOCAR) informed. The rescue operations were hampered by severe weather and
13 Tons of Hashish Found aboard Panamanian-Flagged Ship
Italian police has seized around 13 tons of hashish aboard a Panamanian-flagged ship identified as Munzur. The ship was boarded by Italian Air-Naval Command teams on Wednesday, some 10 miles northeast of the island of Pantalleria, near Sicily. Following an inspection of the cargo ship, the police fo
Cargo Vessel Hits Railway Bridge in Weener
The general cargo vessel Emsmoon, owned by Germany-based Grona Shipping, crashed into a railway bridge which crosses the river Ems in Weener, in the evening hours of December 3, according to German media. Shortly after the 2000-built vessel departed the German port of Papenburg, it smashed into the
Shore-Based Staff Lack Training, Survey Shows
The majority of shore based employees across the shipping sector believe that they are lacking in training and development opportunities according to the 7th Maritime Employee Survey, published by a UK-based maritime jobs specialist Halcyon Recruitment and online training provider Coracle. The 2015
USCG Recovers Body of Missing Berkay N Crew Member
The United States Coast Guard rescue crews located and recovered the body of a missing crew member from the 275-foot Chilean-flagged cargo vessel Berkay N Saturday, approximately 25 nautical miles north of Hatillo, Puerto Rico. The death and circumstances that caused Luis Leyva Aliaga, 62, a Chilean