Green Marine
Nine More for Navig8
March has been a pretty busy month for pool operator Navig8 which has expanded its pools with nine vessels. Navig8 Chemicals has taken delivery of Navig8 Amethyst, the third of eighteen ECO 37,000dwt chemical tankers constructed at Korea’s Hyundai Mipo Dockyard (HMD). Another newbuild, the 49,000 dw
Ultrabulk Braves Stormy Dry Bulk Market
Ultrabulk Shipping recorded a positive result for 2014 despite the prevailing adverse and volatile conditions in the dry bulk shipping market. “This was achieved mainly due to the long term balanced book, the ability to generate margins from arbitrage business, a solid team performance, and a contin
Smooth Sailing for Navigator Holdings
Navigator Holdings Ltd. has reported both record revenue of USD 78.4 million and net income of USD 24.3 million for the fourth quarter of 2014. This is an increase of USD 11.1 million, or 16.5%, when compared to the USD 67.3 million of operating revenue for the three months ended December 31, 2013.
Sobelmar Seeks Bankruptcy Protection
Bulker operator Sobelmar Antwerp N.V. and certain of its subsidiaries have commenced Chapter 11 reorganization proceedings in the United States Bankruptcy Court for the District of Connecticut (Hartford). The company said that the Chapter 11 process will facilitate its restructuring as Sobelmar push
EU Sets Up JOT Mare to Stem Illegal Sea Migration
The European Union has launched a Joint Operational Team (JOT) Mare to tackle the organised criminal groups who are facilitating the journeys of migrants by ship across the Mediterranean Sea to the EU. Hosted at Europol headquarters in The Hague, JOT Mare will combine Europol’s intelligence resource
AAL Puts Fleet Expansion Plan in Motion
A breakbulk, project cargo and heavy lift shipping operator AAL is boosting its Tramp and Projects division’s capacity through a long-term charter of a multipurpose, heavy lift vessel AAL Galveston. AAL Galveston is a ‘Super A-Class’ vessel, which AAL has re-classified under its own fleet classifica
Tanker Runs Aground off Rhodes Island
A tanker carrying around 1,000 cbm of diesel ran aground yesterday morning near the Greek island of Rhodes, the Hellenic Coast Guard reports. The 2,415 dwt product tanker M/V Taxiarchis was on its way from the island of Simi to Anafi, when it ran aground in shallow waters, sustaining damage to its h
Britannia Starts Maiden Voyage
After being officially named by Queen Elisabeth II in Southampton last Tuesday, the cruise ship Britannia sailed to its home port of Gibraltar and started a 14-day maiden voyage around the Mediterranean. Described as the biggest cruise ship designed for the British holiday market, Britannia was buil
ITIC Warns of Growing Funds Diversion Frauds
International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector. Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the wide
Containerships Drops Calls at Pori and Sheerness
Finnish short-sea operator Containerships is introducing three new direct services as of April 2015, as well as cancelling calls at the Finnish Port of Pori and England’s Port of Sheerness. The last call at Pori was on March 13, and cargo previously moved via Port of Pori will be re-routed via Helsi
Readers’ Picks of the Week (9-13 of Mar)
Viking Shiptech Introduces 80 Knot Ships Norwegian company Viking Shiptech has developed a new patent pending shipping technology, which is expected to bring in considerable environmental benefits…. Read more VIDEO: One Ship Moved, Houston Channel Remains Partially Closed The bulk carrier Conti Peri
Turkish Coast Guard Fires at Fleeing Ship Carrying Migrants
The Turkish Coast Guard fired shots at a rogue cargo vessel in the Dardanelles Strait Thursday evening, after the ship ignored the calls to stop off the Gallipoli peninsula and tried to escape, the local Hurriet Daily News reports. The Coast Guard suspended the traffic in the Strait and went in purs
NABU: Scrubbers Must Be Rejected
The ecological risks of scrubbers for the marine environment are ignored while at the same time the economic benefits are overestimated, German environmental organisation NABU (Nature and Biodiversity Conservation Union) said commenting on the results of a new study. The study was conducted by the D
BIMCO: Dry Bulk Rates to Remain Flat
The agony in the dry bulk sector is yet to be prolonged as forecasts for the dry bulk freight rates remain within the same levels. However, according to BIMCO, there are signs of stronger volumes for the second quarter of 2015 which are likely to support the freight market. BIMCO forecasts that the