Green Marine
Moody’s: Steady Winds Ahead for Global Shipping Industry
The outlook for the global shipping industry is stable, according to Moody’s Japan K.K., reflecting expectations for low single-digit percentage aggregate year-over-year EBITDA growth for its rated shipping companies during the coming 12-18 months. “This growth rate is lower than the mid-to-high sin
Royal Caribbean Orders 5th Quantum-Class Ship
Royal Caribbean Cruises Ltd. has ordered a fifth Quantum-class ship from Meyer Werft in Germany, to be delivered in the fall of 2020. “It is such a pleasure to announce the order of another Quantum-class ship as we are welcoming Anthem of the Seas to North America,” said Richard D. Fain, Chairman an
Greek Ferries Remain in Ports as Seamen Strike
Greek ferry workers are staging a two-day warning strike that started on Monday to voice their opposition to growing austerity measures, pension cuts, unemployment and privatization of the country’s ports, following a call issued on Thursday by Panhellenic Seamen’s Federation. The strike continues t
ICTSI’s Revenue Takes a Hit in 3Q
Manila-headquartered container terminal operator International Container Terminal Services, Inc. (ICTSI) managed to improve its revenue from port operations in the first nine months of 2015 by 2% compared to the same period a year earlier, despite an 11% revenue dip in the third quarter ended Septem
Diana Shipping Buys Capesize Bulker
Diana Shipping Inc., Athens-based dry bulk shipping company, has added a Capesize dry bulk vessel of 179,362 dwt, the m/v Churchill Bulker, to its fleet. The 2011-built dry bulker, to be renamed Seattle, was purchased for USD 28.5 million. The ship is expected to be delivered by mid-November 2015. D
DP World Nabs 25-Year Southampton Port Licence Extension
UAE-based port owner and operator DP World Limited said that it has agreed with Associated British Ports (ABP) to extend the license agreement for DP World Southampton for a further 25 years until 2047. Simultaneously, DP World announced that it has acquired the remaining 49% stake in DP World South
BW Pacific Pushes Ahead with Its USD 250m IPO
Oslo-listed product tanker owner and operator BW Pacific has resolved to launch the initial public offering on the Oslo Stock Exchange. Subject to approval of the listing application and successful completion of the Offering, the shares of BW Pacific are expected to be admitted to listing and commen
Greenpeace Activists Block Coal Carrier off Helsinki
A 155m long bulk carrier, Alppila, transporting coal to a power plant in central Helsinki, Finland, was prevented from entering the Port of Helsinki and steamed away from the port accompanied by a Finnish coast guard vessel, following a protest from Greenpeace activists, the environmental organizati
Drewry: European LNG Demand Not Enough to Lift Freight Rates
European LNG demand growth will not be sufficient to raise LNG shipping freight rates, according to the LNG Forecaster report published by shipping consultancy Drewry. Namely, LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet and shipowners are seen
Drewry: European LNG Demand Not Enough to Lift Freight Rates
European LNG demand growth will not be sufficient to raise LNG shipping freight rates, according to the LNG Forecaster report published by shipping consultancy Drewry. Namely, LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet and shipowners are seen
Hapag-Lloyd Cuts IPO Price Range
German container line Hapag-Lloyd will sell its shares in a price range of EUR 20 – 22, and not EUR 23 – 29 as the company originally planned to do through its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6. Hapag-Lloyd said that due to ongoing
Hapag-Lloyd Cuts IPO Price Range
German container line Hapag-Lloyd will sell its shares in a price range of EUR 20 – 22, and not EUR 23 – 29 as the company originally planned to do through its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6. Hapag-Lloyd said that due to ongoing
Hidden Treasures in the Deep Sea
70 percent of the earth’s surface is covered by water, and still little is known about the treasures hidden in the deep sea. One of the first known deep sea minerals, polymetallic nodules, were first discovered in 1868 in the arctic ocean off Siberia. During the scientific expedition of the H.M.S. C
Update: Fuel Oil Removed from Sunken Flinterstar
All remaining heavy fuel oil (HFO 380) has been removed from the general cargo ship Flinterstar, which sank after colliding with the LNG tanker Al-Oraiq off Belgium’s Zeebruggee on October 6, Dutch shipping company Flinter, the owner of the ship, said in an update. The 2002-built Flinterstar had aro