Green Marine
Magellan Opens Port of Tyne’s Cruise Season
The arrival of the new flag ship of Cruise & Maritime Voyages (CMV) – Magellan – at the UK Port of Tyne’s Northumbrian Quay marked the start of the port’s 2015 cruise season. This call is a part of Magellan’s maiden voyage, dubbed ‘Maiden Solar Eclipse & Northern Lights Cruise,’ which started on Mar
Boxship Drifting off Essex Fixed
The container ship ANL Warringa continued its journey yesterday, after being adrift in a shipping lane 20 miles off the coast of Essex, England since Saturday, the BBC reports. After experiencing engine trouble, the Marshall Islands-flagged, 4,250 TEU boxship managed to put down one anchor. The life
Carriers Passing on Lower Fuel Cost Perks to Shippers
Shippers seem to be the greatest beneficiaries of lower marine fuel costs as they see the benefits being passed on to them by carriers, according to Drewry’s Container Insight. Maersk, for example, said in its full-year investor presentation that it assumes 70-80% pass-on of the fuel savings to ship
Turkish Cargo Ship Seized in Ukraine
A Turkish cargo ship has been arrested by Ukrainian authorities for having called at ports in Crimea thus violating sanctions imposed on the region’s ports. The ship’s captain has been detained and the crew of 12 members are on board the vessel, currently being held in Ukrainian port of Kherson, as
Avance to Drydock Newbuild
Norwegian owner and operator of Very Large Gas Carriers (VLGC) Avance Gas will dry dock the recently delivered VLGC Monsoon after technical irregularities occurred during the vessel’s voyage from Balboa (Panama) to China. The VLGC Monsoon, the second hull delivered from Jiangnan Shipyard in January
Piraeus Port Back on Market
Greece will move forward with the previously abandoned plan to sell the majority stake in the port of Piraeus, and the sale is expected within the next few weeks, the country’s Deputy Prime Minister Yannis Dragasakis told Xinhua news agency. The Syriza government led by Alexis Tsipras took office in
Grounded Greek Ferry Breaks Free
The Greek ferry that ran aground last week at the island of Kasos has been refloated on Friday after two days of being stranded at the island. The ferry had 227 passengers on board and 55 crewmembers, who were all reported to be safe. The ro-pax ferry Vitsentzos Kornaros ran aground due to strong wi
Russia Nominates Candidate for IMO Top Position
The Russian Federation has proposed its first candidate for the position of the Secretary General of the International Maritime Organization (IMO). Namely, in a letter sent to the IMO, Russia nominated the Deputy Director of the Department of State Policy for Maritime and River Transport of Russian
Hapag-Lloyd Sinks into Red
German shipping company Hapag-Lloyd posted a net loss for 2014 of EUR 603.7 million, a considerable dip from 97.4 million loss in 2013. The company said that its result was heavily influenced by one-off effects, primarily the costs of acquiring and integrating CSAV’s container liner shipping activit
Greek Ferry Aground in Kasos
A Greek ferry ran aground on Wednesday evening at the island of Kasos, the Hellenic Coast Guard said. The ro-pax ferry Vitsentzos Kornaros ran aground due to strong winds during manouvering attempts aimed at mooring the ship. As informed, the ferry had 227 passengers on board and 55 crewmembers, who
Epic Gas Sells LPG Carrier Duo
Owner and operator of gas carriers Epic Gas has sold two LPG carriers to unnamed buyers engaged in Southeast Asian cabotage trades within its fleet rejuvenation efforts. The vessels in question are the Epic Cebu (4,000cbm, 1997 built) and Cefalu (4,000cbm, 1996 built). The company said that the proc
AKD: Lack of Ship Definition Threat to Investors
Rotterdam-based law firm AKD says that the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly in the offshore and renewable energy sectors. “In many jurisdictions, including the US and the UK, there a
Update: Knightsbridge Shareholders Approve Merger
The merger transactions pursuant to which Golden Ocean will merge into Knightsbridge have been approved at today’s special general meeting of the shareholders of Knightsbridge. As a result, the name of Knightsbridge will be changed to “Golden Ocean Group Limited” immediately after the effective time
TORM Obtains Waiver from Lenders
Danish shipping company TORM has reached an agreement with certain of its lenders and Oaktree that will secure the lender support to implement TORM’s restructuring. TORM previously entered into a restructuring agreement with a group of its lenders and Oaktree which expires on 31 March 2015. Under th