Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, yesterday announced that it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk ca
“We’ve been on a real roller-coaster,” says Tim Smith, Maersk Line’s North Asia CEO, but he is “hopeful that the good strong shipments we’ve seen in December will continue a little bit into the new year.” In an interview with Bloomberg TV, Tim Smith reflects on 2012 being quite a volatile year. “The
Global energy and commodity price reporting agency Argus has launched a daily marine fuels pricing and analysis service, Argus Marine Fuels. It provides unique market data and intelligent analysis of the increasingly complex marine fuels market. Trade in marine fuels is changing quickly. Oil prices
Marlink has completed a series of new VSAT installations aboard De Poli Tankers BV vessels. The recent communications upgrade project was carried out in close co-operation with Maritime Performances BV and started with the installation of Marlink WaveCall Ku-band VSAT services aboard the chemical ta
International accountant and shipping consultant Moore Stephens says the banks will exert more control over the shipping industry in 2013. It also expects vessel values to fall further, and the cost of regulatory compliance to increase. Moore Stephens partner Julian Wilkinson says, “For shipping in
As the International Maritime Organization currently deals with the issue of the loss of containers at sea through consideration of a mandatory scheme for the weighing of containers, the European Shippers Council (the ESC) calls for an alternative path. The ESC says that what is needed is an improve
Industry leaders AkzoNobel, the largest global paint and coatings company and producer of specialty chemicals, and U-Ming Marine Transport Corporation – a major Taiwanese marine transporter of cement dry commodities and raw materials with 44 ships – have both joined an ambitious global coalition of
QinetiQ GRC naval architects in combination with their Paramarine software are working with QED Naval Ltd in the development of a marine platform (Subhub) that can transport, install, anchor and maintain wave and tidal turbines through life. This will bring major cost and time advantages to tidal tu
Today BIMCO publishes its Reflections 2013, a concise, condensed and thought-provoking analysis of the challenges facing the shipping industry, today and during the coming year. Shipping is a key facilitator of world trade, and the performance of this essential sector is completely interdependent wi
Star Bulk Carriers Corp. yesterday announced that it has agreed i n principle with all of its lenders to amend the terms of the current loan agreements subject to the execution of definitive documentation. In relation to the loan facilities with Commerzbank AG , the Company has agreed to the deferra
Seanergy Maritime Holdings Corp. announced yesterday that it has completed the previously announced sale of its 100% ownership interest in Bulk Energy Transport (Holdings) Limited (“BET”). The Buyer, I.M.I. Holdings Corp., is an affiliate of members of the Restis family, the Company’s major sharehol
Songa Offshore SE yesterday finalised the formal handover of Songa Eclipse to Seadrill in line with the Memorandum of Agreement from November 2012. As previously reported, Songa’s net proceeds from the sale is USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will
PD Ports has successfully installed a new terminal operating system at Teesport. The new system, which was built by Navis, a software development company specialising in terminal operating systems, was introduced to further improve efficiency for customers, as well as the speed and agility of operat
SAM Electronics, an L-3 company, has equipped Viking Line’s new 57,000-gt passenger ferry, Viking Grace, with a NACOS Platinum integrated navigation control system together with a Valmatic Platinum integrated automation system from its associate company, L-3 Valmarine. Built by STX Finland at its Tu
