Green Marine
Fitch Ratings: SCF May Miss Out on Tanker IPO Fever
Russia’s shipping company Sovcomflot could miss out on improving market fundamentals that are likely to present an opportunity for more tanker shipping companies to tap equity markets, rating agency Fitch Ratings says. The rating agency believes that Russia’s Sovcomflot may further delay its IPO due
Diana Keeps Clearlake Gig
Greek dry bulk specialist Diana Shipping has extended the present time charter contracts for MV Myrsini and MV Norfolk with Singapore-based Clearlake Shipping, a member of the Gunvor Group. The gross charter rate for the 2010-built, 82,117 dwt Kamsarmax Myrsini is USD 8,250 per day minus a 4.75% com
HSH Nordbank Places First Large Ship Covered Bond in Years
Hamburg-based HSH Nordbank has placed a EUR 500 million (USD 571.9 m) ship covered bond, the German bank’s first large-volume ship bond since 2008. The order book of the benchmark ship covered bond was substantially oversubscribed within a short period of time. The most recent placement by HSH Nordb
Barge Puts Stena Nordica out of Action
Stena Line has cancelled a number of ferry services between Holyhead, Wales, and Dublin, Ireland, after Stena Nordica was hit by the bunker barge Keewhit while berthed at Holyhead Harbour, Sunday, February 1, the Wales Online reports. Crew and passengers were on board the ferry at the time of the ac
Term of the Day: Container Freight Station (CFS)
A Container Freight Station or CFS is a shipping dock where a cargo is loaded into, or unloaded from containers. Generally, this involves less than containerload shipments, although small shipments destined to same consignee are often consolidated. Container reloading from/to rail or motor carrier e
Ardmore Sails to Profitable Full Year
Cork-based ship owner and operator Ardmore Shipping has posted a third successive profitable quarter and its first profitable full year. The company reported EBITDA of USD 8 million for the three months ended December 31, 2014, an increase of USD 6.5 million from USD 1.5 million for the three months
UWT to Get New Quay in Rotterdam
Port of Rotterdam Authority drove the first pile for a new new quay in the Johan Frisohafen to be used by United Waalhaven Terminal (UWT) container centre. The quay will have a length of 165 metres and an initial depth of 7 metres, which will eventually be deepened to 10 metres. UWT will use the qua
Finnish Port Operators Take Union Labour Actions to Court
The Finnish Port Operators Association (FPOA) brought labour actions launched by Finnish transport union AKT before the labour court last week to determine their legality. The Finnish Transport Workers’ Union (AKT) has arranged blockades on several container feeders between August and January result
Maersk Line Cut Its Market Capacity on South America-Europe Trade
Danish liner giant Maersk Line has cut its overall market capacity by 10 % on the trade between the east coast of South America and Europe and the Mediterranean amid weakening demand. The company said it has started phasing in smaller vessels of between 4,500 and 6,500 TEU capacity so as to level ou
Greenland’s Nuuk Harbour to Get New Container Terminal
Danish general infrastructure contractor Aarsleff has entered into an agreement with Sikuki Nuuk Harbour A/S about the establishment of a new container terminal in Nuuk, Greenland. The first phase will comprise initial planning and preparations. The final contract is expected to be signed in a coupl
Image of the Day: First 2M Ship at Port of Charlestown
Today’s image presents you with the Maersk Line’s 318,20-meter container ship Maersk Kotka during her visit to the Port of Charlestown. The visit marked the first ever call of any ship from the 2M alliance, which was officially launched in January this year, to the port. The 2M alliance is formed ba
DP World’s Volume Growth Beats Expectations
DP World Limited’s gross container volumes grew by 8.9% on reported basis and 8.0% on a like-for-like basis during 2014, the latest figures show. Namely, DP World handled 60 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2014. DP World said that
Navios Container Shipping Sector Pays Dividends
Monaco-based owner and operator of dry bulk and container vessels Navios Maritime Partners reported USD 74.9 million net income for the year ended December 31, 2014, almost USD 16 million more compared to USD 59 million net profit recorded in 2013. Navios attributed the increase to a USD 46.6 millio
ESPO Voices Concerns about Juncker Plan
The European Sea Ports Organisation (ESPO) has voiced concerns about the impact of the new European Fund for Strategic Investment (EFSI) that is being set up following a recent initiative by European Commission President Jean-Claude Juncker. The Juncker Plan aims to leverage investments in the magni