Green Marine
Clipper and Genco Launch New Supramax Pool
Copenhagen-headquartered dry bulk shipping company Clipper has teamed up with Genco Shipping & Trading Limited to form the Clipper Sapphire Pool, a new commercial pool for Supramax grab fitted bulk carriers between 52,000 and 58,000 deadweight. The new pool will commence operation immediately, with
Sillamäe Gas Terminal Plans Scrapped
Plans to construct the EUR 500 million Sillamäe gas terminal in Estonia have been abandoned due to ongoing sanctions imposed by the European Union against Russia, as reported by Estonian daily Postimees. The construction of the terminal was proposed by Estonian Sillgas company. The terminal was inte
IOM: Migrant ”Ghost Ships” Here to Stay
The International Organization for Migration (IOM) says the spectre of large, disposable crafts bearing hundreds of migrants across dangerous waters in the new year was borne out in terrifying fashion this past week as more than 1,000 migrants, most fleeing Syria, had to be rescued in the Mediterran
Hunting Confirms Talks on Gibson’s Sale
British-based supplier to the oil and gas industry Hunting confirmed that talks on the sale of its wholly-owned subsidiary, E. A. Gibson Shipbrokers, have been launched. Hunting is in discussions with the management of Gibson concerning the potential sale of the business to an Employee Benefit Trust
Interview: Insight into Piracy
The 2014 has been a pretty eventful year with respect to pirate activities, seeing a tragic end with a crew member of a Vietnamese tanker VP Asphalt 2 being killed in a hijacking attack off the eastern coast of Malaysia in December. On the other hand, pirate suspects being taken before European cour
Update 2: Cemfjord Located on Seabed
The wreck of the cement carrier Cemfjord which capsized and sank in the Pentland Firth with eight men on board on January 2 has been located on the seabed in the eastern approaches to the Firth, by the lighthouse tender NLV Pharos the BBC reports. The U.K.’s Maritime and Coastguard Agency suspended
OW Bunker Management Knew about Tankoil Loan
Senior management of Danish marine fuel distributor OW Bunker was informed of the loan approved to Tankoil Marine Services by the Singapore-based Dynamic Oil Trading (DOT), based on the email addressed to OW Bunker CFO Morten Skou, published by Danish publication Fians. The email dated on September
Drewry Predicts Profitable Year for Container Shippers
Container shipping profitability is expected to improve in 2015, despite record vessel deliveries, driven by lower unit costs, according to the latest edition of the Container Forecaster, published by shipping consultancy Drewry. The global fleet is expected to grow 7.2% in 2015, a faster pace than
A.P. Møller – Mærsk Buying Back
Danish liner giant A.P. Møller – Mærsk A/S has bought back USD 256 million of its own shares during the period from 22 December 2014 to 2 January 2015. During the said period the shipping company acquired a total of 3,099 A shares and 12,179 of B shares. This is the second batch of the […]
Navios Bags MSC Cristina
Greek owner and operator of dry bulk carriers and container ships Navios Maritime Partners L.P. has expanded its fleet with the 13,100 TEU, 2011-built MSC Cristina. Navios bought the container ship for USD 147.8 million, and expects ta take the delivery of the vessel by the end of February 2015. The
Vaasa, Umeå Merge Port Management Operations
Finland’s Port of Vaasa and Sweden’s Port of Umeå merged their operations under the new company, Kvarkenhamnar AB. The company will be marketed under the name, Kvarken Ports Ltd. Kvarken Ports will be owned jointly by the city of Vaasa and Umeå Kommunföretag AB. The current port staff in Umeå and Va
VIDEO: Svitzer Salvors Board Grounded Hoegh Osaka
Salvors from Svitzer managed to board the grounded car carrier ‘Hoegh Osaka’ yesterday, the UK’s Maritime and Coastguard Agency said in an update. The car carrier ‘Hoegh Osaka’ remains grounded on the Bramble Bank in the Solent listing at 45 degrees. The car carrier was grounded deliberately in the
VIDEO: Hoegh Osaka’s Listing under Investigation
An investigation into the cause of the car carrier Hoegh Osaka’s listing has been launched by the UK’s Marine Accident Incident Branch (MAIB). The car carrier was grounded deliberately in the Solent on Saturday evening, January 3rd having suffered a heavy list after leaving Southampton Port. The ves
Dry Bulk Sector to Slow Down in 2015
The dry bulk sector is heading for a slowdown in 2015 to a rate of 4-5%, according to the forecast by BIMCO. Accordingly, the Capesize segment is expected to outperform smaller sizes, as demand growth continues a biased trend towards the Capesize segment. In 2014, 70% of the total volume growth came