Green Marine
NOL Confirms Takeover Talks with Maersk and CMA CGM
Singapore-based container shipping company Neptune Orient Lines Limited (NOL) is in preliminary discussions with French CMA CGM SA and Danish A.P. Moeller-Maersk A/S with respect to a potential acquisition of NOL, the company said, thus confirming recent media reports. “NOL has a duty to assess all
UK Chamber of Shipping: Closer Union Is Distracting
As a response to the negative impact of the European Union’s regulations on the UK’s shipping industry, the UK Chamber of Shipping has called on the country’s Prime Minister David Cameron to make efforts to attain the full potential of the single market, as well as to review unnecessary regulation.
Oslo Court: No Strong Evidence against Fredriksen CEO
The Oslo District Court said in a ruling on Friday that there was no substantial evidence to support the involvement of now suspended Chief Executive Officer of the Fredriksen Group, Jo Lunder, in Vimpelcom corruption case, Reuters reports. However, Lunder is reported to have remained in custody ove
Port of Rotterdam to Raise Tariffs in 2016
The tariffs which visiting sea-going vessels pay in the port of Rotterdam will increase by 0.5% next year, half of the past year’s inflation rate, Rotterdam Port Authority said. This is in accordance with the three-year agreement made last year between Deltalinqs, VRC, VNPI and the Port Authority on
Wessels Reederei Pushes On with LNG Switch
German container line Wessels Reederei has signed a contract with MAN Diesel & Turbo to retrofit the 8L48/60B main engine of its 1,000 TEU container ship Wes Amelie to dual-fuel operation, the first vessel of its kind to be converted to a liquefied natural gas (LNG)-capable propulsion system, the Au
TransAtlantic Offloads Its Container and Ship Management Arms
TransAtlantic AB, a subsidiary of Swedish Viking Supply Ships, has reached an agreement to divest its container operation to Singapore’s feeder owner X-Press Feeders and, in a separate transaction, to divest ship management operations to Sweden-based ship operator AtoB@C. The container operations to
Spanish, Portuguese Ports Hit by Strikes
An indefinite towage strike has been launched today at the Port of Barcelona, Spain, Inchcape Shipping Services (ISS) informed. The action has been announced by the Confederación General de Trabajadores (CGT) union and will be followed by Tug Barcelona SAR. The strike will comprise three shifts of t
Maersk Group’s Q3 Profit Cut by Almost a Half
Danish shipping and offshore energy conglomerate Maersk Group delivered a profit of USD 778m (USD 1.5bn) for the third quarter of 2015, negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The retur
Freighter Aground in the Dardanelles
A general cargo ship ran aground in the Dardanelles at around 1:30 a.m. local time Friday after suffering a steering malfunction, Turkey’s General Directorate of Coastal Safety (Kıyı Emniyeti Genel Müdürlüğü) reports. The 3,194 dwt Schillig was sailing from the Black Sea port of Constanta in Romania
Diana Extends Charter for Kamsarmax Bulker
Greek dry bulk shipping company Diana Shipping has, through a wholly-owned subsidiary, extended the charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Kamsarmax dry bulk vessels. The m/v Maia, a 82,193 dwt Kamsarmax dry bulk vessel built in 2009, was hired for an additio
Update: Fredriksen CEO Put on Leave Following Arrest in Norway
Chief Executive Officer of the Fredriksen Group, Jo Lunder, who was apprehended by Norwegian police in Oslo on Wednesday, has been put on leave by the Group until further notice, according to Norwegian news agency NTB. Lunder is suspected of being involved in an alleged bribery case in Uzbekistan wh
APM Terminals Takes a Hit in Q3
Maersk’s terminal operating company, APM Terminals delivered a profit of USD 175m in the third quarter of 2015, substantially down from USD 345m reported in the same period last year. The company’s return on invested capital (ROIC) was 11.6%, down from 22.5% in 2014, and the underlying profit was US
Finland’s Helsinki Attracts More Cruise Visitors
Finland’s Port of Helsinki has seen another record cruise season with 254 international cruise ships visiting the port between May and October. This year’s numbers show that 437,000 international cruise visitors came to Helsinki which is 17,000 more than in 2014. The port expects this number to clim
Hapag-Lloyd Rings the Stock Exchange Bell
The shares of the German container line Hapag-Lloyd AG have today started trading on the Frankfurt and Hamburg Stock Exchanges. Hapag-Lloyd says it expects the initial public offering (IPO) to bring USD 300 million which the company will use for investments in new container ships and containers. “We