Green Marine
Navios Containers Eyes More Acquisition Opportunities
Container shipping company Navios Maritime Containers ended its first full quarter of operation with a net income of USD 84 thousand as it continued with fleet expansion efforts. The company’s net income for the period from its inception on April 28 to September 30, 2017 reached USD 965 thousand, wh
Kongsberg Gets 1st DNV GL Cyber Security Type Approval
Norwegian technology company has received the first DNV GL cyber security type approval for its K-IMS system, a core component in Kongsberg’s digital ecosystem Kognifai. For the past year, DNV GL and Kongsberg have combined their efforts to develop a new type approval programme for the cyber securit
Star Bulk Prices USD 50 Mn of Senior Notes
Greek dry bulk shipping firm Star Bulk Carriers Corp. has announced pricing of USD 50 million of senior unsecured notes due 2022. As informed, the notes will bear interest at a rate of 8.3% per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on F
LA, Long Beach Ports Approve New Clean Air Strategies
The governing boards of the ports of Los Angeles and Long Beach have approved the 2017 Clean Air Action Plan (CAAP) Update, ushering in a new era of clean air strategies for moving cargo through the nation’s busiest container port complex. Building on the clean air gains achieved since the ports ado
Matson CEO: Q3 Results Better than Expected
US carrier Matson reported a net income of USD 34.1 million for the third quarter of 2017, up from USD 25.3 million posted in the same period a year earlier. Consolidated revenue for the third quarter 2017 was USD 543.9 million compared with USD 500.4 million reported for the third quarter of 2016.
Fleet Expansion Pushes Ocean Yield’s Revenue Up
Although the Norwegian shipowner Ocean Yield saw a rise in its revenue for the three months ended September 30, 2017, the company’s net profit was slightly down in the period. Namely, Ocean Yield’s revenue and other income for the three-month period increased to USD 88.8 million from USD 76.2 millio
DP World Australia Calls for End to Pilot Cutter Crew Strikes
Reacting to the latest round of planned work stoppage, terminal operator DP World Australia issued a statement asking for an end to the industrial action affecting terminal operations at Port Botany. The latest 24-stoppage has been announced by MUA members working on board pilot cutters operated by
Over a Tonne of Cocaine Seized aboard RORO Ship off Portugal
Over a tonne of cocaine was found on board a Roll-on/Roll-off (RORO) cargo ship named Agat which was intercepted in the middle of the Atlantic Ocean by the Portuguese authorities in an operation aimed at curbing illicit drug trafficking by sea. Namely, the Portuguese drug enforcement agency, in coop
Glory Amsterdam Refloated after Grounding in North Sea
Glory Amsterdam, a Panamax bulk carrier which ran aground in the German Bight, North Sea, on October 29, has finally been refloated, Central Command for Maritime Emergencies Germany (Havariekommando) informed. The 225-meter-long ship was towed with the help of two tugs into deeper waters at around 7
Navios Holdings Repaying Loan a Year Early
Navios Holdings will fully prepay the loan facility entered into on September 19, 2016, with Navios Maritime Acquisition Corporation with a payment of USD 55.1 million in the fourth quarter of 2017, a year earlier than planned. The prepayment amount will consist of the USD 50.0 million drawn under t
Ships Warned of Plague Outbreak in Madagascar
The US authorities have issued a maritime alert urging vessels calling in Madagascar to exercise caution due to an outbreak of plague, GAC informed. ETIC/Africa P&I Services said that that the outbreak is severe and fast spreading, affecting the whole island of Madagascar, including ports. In partic
MOL Confirms Ownership Split of Yamal LNG Carriers with China COSCO Shipping
Japanese shipping major Mitsui O.S.K. Lines (MOL) said today that China COSCO Shipping Corporation Limited will take an equity stake in MOL’s wholly owned subsidiary that will own four LNG carriers serving the Russia Yamal LNG project. COSCO Shipping informed earlier this week that the group’s board
Human Error a Factor in Both US Navy Collisions
Investigations into two separate collisions involving US Navy vessels have revealed that multiple failures by watch standers contributed to the incidents. The navy released a report on November 1 detailing the events and actions that led to the collision of USS Fitzgerald (DDG 62) and Philippine-fla
Ports of Auckland Unveils Draft 30-Year Master Plan
Ports of Auckland has today released its Draft 30-year Master Plan which outlines a range of projects needed for the port to keep up with the rising freight demand. The project is being proposed as an intermediary solution as the Auckland Council, the owner of the port, has kicked off a project to f