Green Marine
Fitch Ratings: Container Shipping Is Poised for Further Consolidation
Consolidation in the container shipping segment via alliances or mergers is likely to accelerate due to persistent overcapacity and freight rates pressure, Fitch Ratings said. Recent developments, including the proposed merger of Hapag-Lloyd and CSAV, US regulatory approval of the P3 Network, and th
Heyerdahl Award 2014 Goes to Rolls-Royce
Rolls-Royce has been awarded the maritime Heyerdahl Award 2014. The award was presented by His Majesty King Harald at the Norwegian Shipowners’ Associations Annual Conference in Oslo 31 March. The award goes to the Environship Concept, an innovative ship design which integrates a highly efficient ga
MV Fairload Ships Beaver Dredger and Workboat to Mexico
MV Fairload recently loaded an IHC Beaver Dredger and a Workboat in Rotterdam, The Netherlands destined for Lazaro Cardenas, Mexico. Jumbo’s crew assisted in dismantling the cutter ladder part of the dredger utilizing the Fairload’s cranes. The cutter ladder was stowed below deck together with the w
ECSA Supports Commission in Extension of Liner Consortia Block Exemption
The European Community Shipowners Associations (ECSA), the International Chamber of Shipping (ICS) and the World Shipping Council (WSC) have replied today to a public consultation launched by the Commission on its proposal to extend the period of application of the so-called liner consortia block ex
Seventeen Vessels Acquired in Past Two Weeks
Lion Shipbrokers said that a total of seventeen vessels changed their owners in the past two weeks. Namely, eight bulk carriers, three container vessels and six tankers have been acquired by various shippers. Bulkers: M/V “BULK CHINA” – 179,109 dwt, blt 2013 Orient/S. Korea, NV, 9 HO/9 HA, MAN-B+W 6
Solvang in Time-Charter Agreement for Panamax VLGC
Solvang has entered into a new fixed rate timecharter contract for the Clipper Sirius, a Panamax VLGC, for 2 years from January 1st 2015 and throughout 2016, with the addition of 1+1 optional year after 2016. Solvang’s ownership share in Clipper Sirius is 30%. The Panamax VLGCs have a favourable pos
The Swedish Club Marks Growth Across the Board
The Swedish Club achieved a significant increase in financial strength, with a positive underwriting outcome and investment earnings leading to a surplus of USD 17 million overall. This positive underwriting outcome resulted in a combined ratio of 93.5% with free reserves increasing to a record leve
Icebreaker ‘Protector’ Reaches Furthest Point South
Supporting the work of British Antarctic Survey scientists, and conducting scientific studies, the Portsmouth-based icebreaker reached Marguerite Bay, roughly half-way down the western shores of the Antarctic Peninsula. The furthest point south recorded on her charts was 68° 12’S – 8,900 miles from
‘Artemis Atlantic’ Ready for the Next Gig
Malta’s Minister for Transport and Infrastructure, Joe Mizzi, visited the seismic vessel Artemis Atlantic while it was berthed at Valletta Harbour on 26th March. Following the visit, the vessel commenced a seismic survey to the North of Malta. The seismic survey is part of the contractual obligation
Thorco Shipping Appoints Representative in Turkey
In order to continue providing prompt and appropriate attention to their clients within the local markets Thorco Shipping has appointed Ilya Shipping Ltd. as their representative in Turkey. Ilya Shipping Ltd. was founded 2003 and has since then served the Turkish clients, bringing recognized experie
Shipping Confidence Hits Highest Level Since 2008
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Freight rates look set to improve or m
Ukrainian Minister of Infrastructure Offers Port Investment Opportunity
Ukrainian Minister of Infrastructure Maksym Burbak offered potential investors to involve in the development of projects of Ukrainian seaports more actively. This was started by the Minister during a meeting with investors of large seaports of Odesa. “I once again confirm the necessity of implementa
DOF Subsea Wins Positioning Services Contract Extension
DOF Subsea has been awarded a Master Service Agreement (MSA) extension with Seaway Heavy Lifting for the provision of positioning services onboard its Stanislav Yudin and Oleg Strashnov crane vessels. DOF Subsea offers services to third parties across the globe through its survey and positioning div
Golar Completes Acquisition of FSRU
Golar LNG Partners LP has completed acquisition of the company that owns and operates the FSRU Golar Igloo from Golar LNG Limited for a purchase price of approximately $310.0 million. The partnership financed the purchase price by the assumption of outstanding debt obligations in respect of the Gola