Green Marine
Scorpio Buying Four More Bulkers
Monaco-based dry bulk shipping company Scorpio Bulkers has entered into two separate agreements with unnamed parties to acquire one Kamsarmax and three Ultramax dry bulk vessels. As informed, the ships will be bought for USD 90 million, of which USD 77.1 million is payable in cash and the remaining
Navios Holdings to Sell USD 300 Mn of Senior Notes
Greek shipping firm Navios Maritime Holdings is looking to raise up to USD 300 million through a private offering of senior secured notes due 2022. The company, together with Navios Maritime Finance II (US) Inc., its finance subsidiary, intends to offer and sell the notes in the United States “only
EU Okays Belgian Tax Measures for Maritime Transport
Various Belgian support measures for maritime transport have been prolonged until the end of 2022 following an approval granted by the European Commission under EU State aid rules. The scheme encourages shipping companies to register their ships in Europe and so ensure higher social, environmental a
BIMCO: Dry Bulk Market’s Recovery Still Fragile
The return to permanent profitable freight rates in the dry bulk sector is still way off, however, there has been a slight fundamental market improvement, according to BIMCO’s latest market overview. Capesize ships have been in profitable territory earning above USD 15,300 per day since August, and
Saudi Arabia Closes Ports in Yemen
Saudi Arabia-led coalition, which is involved in Yemeni war, has decided to temporarily close all sea, air and land ports in the country, the coalition said in a statement. The move comes after a rebel-fired ballistic missile, which targeted Riyadh, was intercepted on November 4. The measures will b
CSP Starts Building Container Terminal at Khalifa Port
China-based Cosco Shipping Ports (CSP) and port developer and operator Abu Dhabi Ports held a ground-breaking ceremony for the CSP Abu Dhabi Container Terminal at Khalifa Port on November 5. The terminal is located along the ‘Silk Road Economic Belt and the 21st Century Maritime Silk Road’ and the s
ABTO: Biomass a Challenge for Bulk Terminal Operators
Bulk terminal operators looking to make the transition from coal to biomass are facing challenges, it was emphasized at the Association of Bulk Terminal Operators’ (ABTO) inaugural conference, Bulk Terminals 2017, which took place last week in London. “Biomass is not one material,” Mike Bradley, Dir
Safe Bulkers CEO: Oversupply Not Coming Back
The shipping industry has to face the music when it comes to becoming compliant with the new environmental regulations, such as the Ballast Water Management Convention (BWMC) and the IMO’s 2020 Sulfur Cap, as highlighted by Polys Hajioannou, Chairman & CEO of Safe Bulkers in an interview provided by
AG&P to Develop LNG Import Terminal at India’s Karaikal Port
Philippines-based Atlantic, Gulf and Pacific Company (AG&P) has signed an exclusivity deal with India’s Karaikal Port (KPPL), to develop an LNG import terminal at the port, including LNG sourcing and supply. The Karaikal Port, a deep-water facility located on the east coast of India, has allocated a
Ship Speed Restrictions to Protect North Atlantic Right Whales
The National Oceanic and Atmospheric Administration (NOAA) has established regulations to implement a 10-knot speed restriction for all vessels of 19.8 meters or longer in certain locations along the east coast of the US Atlantic seaboard at certain times of the year, GAC informed. As explained, the
Drewry: Northbound ECSA-Europe Trade Turning the Corner
The northbound East Coast South America – Europe trade is finally on the mend heading into the Brazilian fruit export season, shipping consultancy Drewry said. Europe-East Coast South America trade shows that the southbound market continues to strengthen, while the long-time downwards trend for the
Craig Group Disposes of Its Shipping Arm amid Restructuring
UK-based Craig Group has sold its shipping arm, North Star Shipping, a provider of emergency response and rescue services to the offshore industry in the UK North Sea, to infrastructure equity fund Basalt Infrastructure Partners II LP (Basalt). The existing senior management team, staff and crew of
South Korean Firm Seeks USCG BWMS Type Approval
The US Coast Guard Marine Safety Center (MSC) has received its eighth application for Ballast Water Management System (BWMS) type approval. The application was submitted by South Korea-based BWMS manufacturer Techcross for the Electro-Cleen System on October 31. As explained, the MSC will review the
Container Volumes at Port of Gothenburg Hit New Low
Container volumes at the Port of Gothenburg have reached a new record low, according to the port, which recorded a fall of 28 percent in its figures for the third quarter of this year when compared to Q3 of 2016. Based on the figures, this is the worst third quarter ever in terms of container [&hell