Green Marine
Scorpio Bulkers Inks Sale, Leaseback Deal for Kamsarmax to Boost Liquidity
Monaco-based owner and operator of dry bulk carriers Scorpio Bulkers has entered into a financing transaction regarding the company’s Kamsarmax vessel with an undisclosed party in Japan. As part of the transaction, the company will sell the 2015-built ship, SBI Rumba, for around USD 19.6 million. Fo
UAE FTA, ITF to Work on Solving Crew Abandonment as Owner Impunity Persists
The United Arab Emirates (UAE) Federal Transport Authority (FTA) and the International Transport Workers’ Federation (ITF) have agreed to work together to tackle abandonment cases in UAE waters. FTA and ITF officials met this week to discuss the increasing number of abandonment cases faced by the UA
Alpha Bank Secures USD 250 Mn for Shipping Industry
Greek lender Alpha Bank has completed a financing transaction of USD 250 million through shipping securitisation with US investment bank Citi. “The successful completion of this new financing transaction with a top international financial organisation demonstrates once more the bank’s ability to dil
GasLog Partners Wraps Up Solaris Purchase
Greece-based GasLog Partners has finalized the acquisition of the entity that owns and charters the liquefied natural gas (LNG) carrier Solaris from GasLog Ltd. The 2014-built vessel is currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through June 2021.
Injured Seafarer Dies on Bulker off South Africa
A critically injured crewman died on board the bulk carrier MV Grand Amanda off South Africa on October 19, the country’s National Sea Rescue Institute (NSRI) informed. Geoff McGregor, NSRI East London station commander, said that NSRI was alerted by the Maritime Rescue Coordination Centre (MRCC) of
Liberty Blue Chooses KR for Classification Services
Classification society Korean Register (KR) has signed an agreement with Liberty Blue to provide classification services to this Germany-based platform of ship management companies. As explained, the KR will provide services including the ISM code, the ISPS code, the MLC Convention, EU-MRV and KR-CO
USCG: GoM Oil Spill Surpasses Initial Estimates
The amount of oil spilled in the Gulf of Mexico a week ago may be around 16,000 barrels, almost double from the initial estimates, according to the United States Coast Guard. The offshore oil and gas operator LLOG Exploration Offshore earlier informed that the oil released from a damaged pipeline at
Global Ship Lease Embarks On USD 360 Mn Notes Offering
Global Ship Lease, a containership charter owner incorporated in the Marshall Islands, has launched an offering of first priority secured notes due 2022 in an aggregate principal amount of USD 360 million. The company intends to use the proceeds from the offering, together with borrowings under a ne
Wärtsilä, GasLog Ink LNG Carriers’ Maintenance Deal
Finnish technology group Wärtsilä has signed a maintenance agreement with Monaco-based GasLog LNG Services, covering eight LNG carriers operating on Wärtsilä dual-fuel engines. The agreement, effective from October 1, 2017, consists of Dynamic Maintenance Planning (DMP), technical support, secured a
Odfjell Terminals Sells Its Singapore Terminal
Odfjell Terminals B.V., a joint venture between Odfjell SE and Lindsay Goldberg, has inked a deal with a fund managed by Macquarie Infrastructure and Real Assets to sell its 50% ownership in Oiltanking Odfjell Terminal Singapore for USD 300 million. This implies an enterprise value of around USD 330
Royal Caribbean Cancels 2018 Calls to Turkey
Miami-based cruise company Royal Caribbean International has decided to cancel all calls to Turkey for the 2018 Europe cruise season due to “the current unpredictability of the state of Turkey.” Royal Caribbean has replaced the current calls to the country’s Ephesus (Kusadasi) with visits to Rhodes
Navios Midstream’s Profit Sinks amid Challenging Market
Monaco-based owner and operator of tanker vessels Navios Maritime Midstream Partners (Navios Midstream) recorded a net income of USD 3.9 million USD in the third quarter of this year, a drop of almost 30 percent from USD 5.5 million posted in the same period a year earlier. EBITDA for the period sto
Erma First Gets USCG Type Approval for Its BWTS
Greece-based manufacturer of ballast water treatment systems (BWTS) Erma First has received the United States Coast Guard (USCG) Type Approval for its full flow electrolysis BWTS. On October 18, the company became the first full flow electrolysis BWTS vendor worldwide that received the USCG approval
GSL Secures Time Charter for Tianjin with CMA CGM
Containership charter owner Global Ship Lease (GSL) has agreed to a new time charter with French carrier CMA CGM for the 2005-built OOCL Tianjin, which will be renamed GSL Tianjin. The 8,063 TEU containership will be chartered for a period of three to eight months at the charterer’s option at a fixe