Green Marine
Stena Imperative’s Crewman Medevaced Due to Head Injury
A 21-year-old man was medevaced from the 49,777 dwt oil tanker Stena Imperative off the coast of Freeport, Texas on October 30. According to the United States Coast Guard (USCG), the man was the captain of the tanker contacted the authorities in the morning hours on Monday to report that the seafare
K Line Returns to Black
Japanese shipping company Kawasaki Kisen Kaisha (K Line) has posted a profit of JPY 13.1 billion (USD 116.8 million) in the first half of 2018 fiscal year, covering the period from April to September, 2017, recovering from a loss of JPY 50.4 billion from the previous fiscal year. The rebound was mos
MOL’s Profits Drops as Revenue Rises
Japanese shipping company Mitsui O.S.K. Lines continued its earnings streak for the period ended September 30, as it delivered a profit for the first half of fiscal year 2017. The profit decreased by 18 percent year-on-year to JPY 13.1 billion (USD 115.6 million) at the end of the first half, compar
Higher Charter Coverage Improves Danaos’ Q3 Earnings
As a result of higher charter contract coverage, Athens-based containership owner Danaos Corporation managed to improve its earnings in the third quarter of this year, when compared to the same period of 2016. The company’s net income amounted to USD 22.4 million during the quarter ended September 3
2nd Deal Awarded for Charleston Harbor Deepening
The US Army Corps of Engineers (USACE) Charleston District has awarded the second construction contract for work in the Charleston Harbor Entrance Channel as part of the Charleston Harbor Post 45 Deepening Project. The award is for USD 213 million to Great Lakes Dredge and Dock Company for the remov
COSCO Shipping Selling USD 2 Bn of Shares to Fund Boxships
China’s COSCO Shipping Holdings has unveiled its intentions to raise up to CNY 12.9 billion (USD 1.9 billion) in an effort to finance the construction of new containerships. According to the company’s stock exchange filing, the net proceeds of the sale would be used to fund the building of 20 boxshi
Gallery: Bulker Aground in German Bight
Image Courtesy: Central Command for Maritime Emergencies Germany A Panamax bulk carrier ran aground in the German Bight, North Sea, in the morning hours of October 29 and all attempts to refloat the vessel have been unsuccessful so far, Central Command for Maritime Emergencies Germany (Havariekomman
HPH Trust’s Earnings Drop despite Rise in Volumes
Although its combined container throughput increased in the third quarter of 2017, Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) saw a drop in its earnings for the period. The company’s profit for the three months ended September 30 was down by 16.4 percent
Spotted: New World Record Set for a Single Vessel Call
Image Courtesy: Port of Los Angeles A new world record has been set for a single vessel port call as a total of 24,846 TEUs was loaded off and back on the Maersk Evora at the Port of Los Angeles earlier this month, according to Danish shipping giant Maersk. The 13,492 TEU ship arrived at […]
India Calls on Vehicle Makers to Ship Their Products
Indian Minister of Shipping has called upon all automobile manufactures to use coastal shipping mode for transporting their vehicles. Shri Nitin Gadkari, the country’s Minister of Shipping, Road Transport & Highways and Water Resources, River Development and Ganga Rejuvenation, informed that, beside
Drewry: Carriers Hesitate to Suspend Services
Despite ongoing freight rate erosion, container carriers are yet to announce any service suspensions for the slack season, according to shipping consultancy Drewry. The assessment that carriers will improve profitability next year, in spite of a heavy burden of new ships, was founded on expectations
HSH Nordbank Gets Bids from Investors, Final Sale Talks Starting
Owners of the German-based provider of shipping finance HSH Nordbank have received several binding bids for the entire bank. Following the indicative bids made in March and June of this year, a crucial milestone on the way to privatization has thus been reached, HSH Nordbank said in a statement. Alt
L.G.R. di Navigazione Secures Refinancing Deal
Naples-based shipping company L.G.R. di Navigazione has reached an agreement for a USD 28.8 million loan facility, secured by mortgages over two of its medium range ice class tankers. The financing, which was agreed with Italian bank Banca Popolare di Milano S.p.A., is secured by, inter alia, mortga
Wisom Marine Adds Bulker, Eyes Funds for More Ships
Taiwanese shipping company Wisdom Marine Lines has received an approval to purchase a 38,000 dwt bulk carrier as the company seeks further fleet expansion. Wisdom Marine said that it is paying a price of USD 23.5 million for the unit, to be paid in installments until the delivery. The company did no