Green Marine
Eitzen Secures USD 100 Mln Loan
Oslo-based owner and operator of chemical tankers Eitzen Chemical ASA has entered into a loan facility with Skandinaviska Enskilda Banken AB and NIBC Bank N.V. related to its restructuring as set out in the company’s Plan Support Agreement (PSA) The loan amounts to USD 100 million and it is split in
Eimskip Shuffles Lines
Icelandic shipping and logistics provider Eimskip has decided to combine its Green and Red Lines in the company’s sailing schedule as of mid-February. The Green Line has served between Iceland and North America with a port call in Sortland and in Norway. Containers with origin in Europe and Scandin
Nordic Tankers, Herning Shipping Merge Danish Activities
Denmark-based Nordic Tankers and Herning Shipping will consolidate all of their shore-based activities in Copenhagen, Denmark, effective June 2015, as part of the restructuring process. The Herning office functions are moving to Copenhagen and the Herning office will consequently be phased out. The
Gazprom, Yamal Sign Deal to Sell LNG in Asia
Gazprom Marketing & Trading Singapore, a wholly-owned trading subsidiary of Russia’s Gazprom Group, and Yamal Trade, a wholly-owned trading subsidiary of Russian gas producer Yamal LNG, have signed a long-term contract for liquefied natural gas (LNG) from the Yamal LNG project to be sold in Asia. Th
Drewry: Post-Alliance Restructure Well-Balanced
The Asia-North Europe trade post-alliance restructure is generally well-balanced in terms of geographical coverage with strong competition in the key lanes, shipping consultant Drewry said commenting on the launch of the new carrier mega-alliances in the East-West container trades. Drewry believes t
Cosco Starts Piraeus Container Terminal Upgrade
China Ocean Shipping Company (Cosco) held the Inauguration of the Expansion of Pier III of COSCO Piraeus Container Terminal (PCT) on January 22. In his remarks, the Prime Minister of Greece Antonis Samaras described the PCT project as the most important investment in Greece in the last decade, also
IMO Action on Black Carbon Long Overdue
The International Maritime Organisation’s recommendation to its environment committee to agree on a definition of black carbon based on scientific consensus, after four years of debate, has been welcomed by environmental NGO Transport & Environment. Lack of agreement at sub-committee level had been
Maersk Line Gets Top EU Certificate
Danish containerized cargo shipping company Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme. The AEO-F certificate is granted to companies that meet particularly high safety and security s
Update 2: Magellan Spirit Refloated
The ship-to-ship cargo transfer between Teekay’s grounded LNG carrier Magellan Spirit and LNG tanker Excellence has been completed and Magellan Spirit has since been refloated, Teekay told World Maritime News. Having broken free, Magellan Spirit has been anchored for Class inspection. The fully load
Knightsbridge Eyes Merger Transaction
Dry bulk shipping company Knightsbridge Shipping Limited has filed a registration statement to issue USD 506.9 million-worth of shares in connection with the proposed merger with Golden Ocean Group Ltd. Dry bulk shipping companies Golden Ocean Group Limited and Knightsbridge Shipping Limited agreed
DCT Gdansk Kicks Off Construction of Deepwater Berth
DCT Gdansk, the operator of Poland’s largest container terminal, officially started the construction phase of a new deepwater quay in Gdansk’s Northern Port on Thursday, January 22. Back in October 2014, DCT Gdansk chose the Belgian N.V. BESIX to be the general contractor and the designer of the new
VIDEO: Hoegh Osaka Towed to Southampton
Grounded car carrier Hoegh Osaka, loaded with millions of dollars worth of cars, has been towed to the Port of Southampton after being stranded for 19 days in the Solent. The towing operation started yesterday at 14.45 GMT with the assistance of four tugs and by 18.15 GMT she was safely alongside at
EU Court Drops Sanctions against Iran’s Shipping Firms
The EU General Court has annulled the EU sanctions against an Iranian bank and 40 shipping companies whose assets were frozen within restriction measures targeting Tehran’s nuclear program. Sanctions against Bank Tejarat have been scrapped as, according to the ruling, the EU failed to prove the bank
Bocimar Ends Year on a Downer
Belgian dry cargo shipping specialist Bocimar has reported a USD 45.5 million operating loss for the annual period ending December 31, 2014, compared to a USD 3.5 million gain in 2013. Bocimar’s parent company Compagnie Maritime Belge (CMB) described 2014 as ‘‘a big disappointment for the dry bulk m