Green Marine
The Dutch Moving Most Maritime Cargo in EU
The Netherlands remained the largest maritime freight transport country in Europe in 2013, while Rotterdam, Antwerpen and Hamburg maintained their positions as the three largest ports, according to figures from Eurostat released by the EU Commission. The compilation covers the latest statistical dat
Update: Team Tankers Gets Green Light to List on Oslo Børs
The Board of Directors of Oslo Børs has decided to admit shares in Team Tankers International Ltd to list on the stock exchange. Team Tankers, a company established by Eitzen Chemical, with the sole purpose of moving its operations to Bermuda, applied for listing of its shares on Oslo Børs, alternat
UK P&I Club Expands Fleet
The UK P&I Club, a shipping protection and indemnity mutual insurer, has added 1.2 million gross tons of mutual business in the 2015 renewal season, taking mutual owned tonnage to 127 million gross tons, and receiving a premium increase of 3.5% before terms. The Club’s combined mutual owned and char
DryShips Optimistic Despite Loss
Nasdaq-listed DryShips reported a net loss of USD 24 million for the fourth quarter of 2014, a slight improvement compared to a USD 24.4 million loss recorded for the same period in 2013. The dry bulk and petroleum shipper says the company would have ended the fourth quarter with a USD 14.1 million
Swedish, Finnish Ports Target EU Funding
Five Swedish and Finnish ports have this week submitted applications for EU funding within the 2014 CEF Transport Calls for Proposals. The cooperation, backed by both the Swedish and the Finnish Government, is aimed at improved port infrastructure and environmental services. Four Finnish TEN-T core
Lysblink Seaways Ready for Towage
The Lysblink Seaways is going to be moved this afternoon after 153 tons of fuel oil was successfully pumped from the grounded ship onto the tug Kingdom of Fife, the UK Coastguard updates. Hugh Shaw, the Secretary of State’s Representative for Maritime Salvage & Intervention has authorised the move w
Ahrenkiel Lands 8 Boxships
German shipowner Ahrenkiel Steamship has bought eight container ships from HSH Nordbank’s Nautilus credit portfolio. The parties involved have agreed not to disclose the exact purchase prices of the vessels and the identities of the sellers; however, the total value of the transaction is in the thre
Record Profit for Maersk
Danish conglomerate A.P. Moller Maersk Group delivered a strong financial performance in 2014, recording a profit of USD 5.2 bn. Maersk said that the profit was positively impacted by the USD 2.8 bn gain from the sale of majority share of Danks Supermarked Group and other divestment gains worth USD
Genmar, Navig8 Crude Tankers Merge
General Maritime Corporation and Navig8 Crude Tankers have entered into a definitive agreement to merge and form Gener8 Maritime Inc., creating one of the world’s largest Very Large Crude Carrier (VLCC) operators. Gener8 Maritime will have a combined fully-delivered fleet of 46 vessels, comprised of
Foyne Port Expansion Underway
Ireland’s bulk port company Shannon Foynes Port Company (SFPC) has launched a EUR 50 million (USD 56.7m) capital investment programme at Foynes, the first major infrastructure project in any seaport in Ireland since the 1990’s. As part of the port company’s Vision 2041 masterplan, SFPC will commence
DFDS Earns More
The 2014 revenues of Northern Europe’s shipping and logistics company DFDS increased by 6% to DKK 13bn. The company’s earnings before depreciation increased by 18% to DKK 1.4bn, as shown in the company’s review of annual results for 2014. DFDS recorded a rise in return on the invested capital of 8%.
Update: Pirates Free Kalamos Crew
Three crew members of Maltese-flagged tanker Kalamos, taken hostage earlier in February during a pirate attack off Nigeria, have been freed, local media report. The vessel is owned by the Kalamos Shipping Corporation and managed by Aeolos Management. Reportedly, the shipping company paid a ransom of
Finnlines Cashes In on Trimmed Fleet
Finnish ro-ro and passenger shipping company Finnlines, part of the Italian Grimaldi Group, recorded revenue totalling EUR 532.9 million in 2014, a decrease of 5.4 per cent compared to EUR 563.6 million in 2013. However, through increased operational efficiency, decreased net financial expenses, and
Golar LNG in the Hole
Bermuda-headquartered LNG carrier owner and operator Golar LNG reported USD 38 million loss for the fourth quarter, dragged down mostly by non-cash financial and other non-recurring charges of items amounting to USD 32.7 million, the company said in its preliminary report. However, the company impro