Green Marine
Harwich Ready for Cruise Season Start
Fred. Olsen Cruise Lines’ 929-guest ship, Braemar, is kicking-off another busy cruise season at the UK’s Harwich International Port on Saturday April 4. The seven-night ‘Easter City Getaway’ cruise is the first of five cruises being offered by Fred. Olsen from the Essex port this year. In addition,
Grimaldi Continues with Retrofits
Italy’s Grimaldi Group has returned to Rolls-Royce with an order for five more Promas Lite upgrades seven months after signing a contract to retrofit the integrated rudder propeller system to ten Ro-Ro vessels operating under the Group’s Finnlines brand. Grimaldi Lines will now upgrade five Grande-c
Finland Dodges Maritime Gridlock
The Finnish Engineer Association and the Finnish Seamen Union canceled their previously announced industrial action in support of the icebreaker crew strike, after the unions reached an agreement with Finnish shipowners Wednesday evening. The unions said that they cancelled the announced strike that
Image of the Day: Gerda Maersk Raises the Bar
Adriatic Gate Container Terminal (AGCT), ICTSI’s container handling facility in the Port of Rijeka, Croatia, recently serviced the largest vessel to call in the country, the 10,000 TEU-capacity Gerda Maersk. The 367-meter vessel is part of the 2M Alliance by two of the world’s megaliners Maersk and
Anek Lines Slashes Losses
Greek ferry operator Anek Lines reduced its annual net loss by little over 50% in 2014 compared to the results posted a year earlier. The ferry operator ended 2014 with EUR 17.8 million net loss (USD 19.2m), versus losses of EUR 35.7 million in 2013. The reduced net loss is attributed to the group’s
Six Candidates in the Race for IMO Top Position
IMO receives nominations of six candidates for the position of the Secretary-General of the IMO.
Bosporous Strait to Close for Bridge Construction
The Bosporus Strait Harbour Master’s office has verbally advised that the Strait will close to all traffic for a total of 60 days over the next 6 months starting today, due to the construction of the Third Bridge (Yavuz Sultan Selim), the Inchcape Shipping Services reports. The Bosporus Strait, a ma
East-West Freight Rates Increased for First Time in Years, but for How Long?
Ocean freight rates for cargoes moving under contracts on major East-West routes have increased for the first time in years, according to Drewry’s Benchmarking Club. “In contract negotiations completed mainly for the European trades in the past three months, shippers have had to agree to increases i
Maersk Boxship Grounded
A Maersk Line containership runs aground near Vlissingen, the Netherlands
Knightsbridge-Golden Ocean Merger Completed
Dry bulk specialist Knightsbridge Shipping has completed its previously announced merger with Golden Ocean Group Limited. In connection with the closing of the merger, Knightsbridge will change its name to Golden Ocean Group Limited (GOGL). The merger between the two bulker operators was announced b
Shipping Confidence Lowest in Years
Overtonnaging, the effect of lower oil prices and the growth of investment by financiers from outside shipping have led to overall confidence levels in the shipping industry falling to their lowest level in two-and-a-half years, the latest Shipping Confidence Survey from accountant and shipping advi
BG Hands Over Two LNG Carriers to GasLog
Monaco-based owner and operator of LNG carriers GasLog has drawn down on a USD 460 million credit facility led by DNB Bank to complete the previously announced acquisition of two LNG carriers from Methane Services Limited (MSL), a subsidiary of BG Group. The two vessels are the 2010-built, 170,000 c
IUMI: Exposures, Risks Growing in Size and Complexity
Exposures and risks are growing in size and complexity and these will require stable solutions in the future, according to the International Union of Marine Insurance (IUMI). The cost of salvage and wreck removal is dramatically increasing. It is estimated that Superstorm Sandy is the sixth costlies
ICAP Shipping, Howe Robinson Start New Venture
UK-based ICAP Shipping and the shipbroker Howe Robinson Group have formed a new venture – Howe Robinson Partners – with ICAP taking a 35% shareholding in the new venture, and Howe Robinson 65%. Howe Robinson Partners will be headquartered in Singapore and employ approximately 240 employees across of