Israel’s biggest cargo shipping company ZIM announced the completion of its comprehensive debt restructuring, following 18 months of intensive negotiations with all of the company’s creditors. Israel Corporation’s investment of $200 million of new equity in return for 32% of the shares in ZIM has
Date has been set for the next year’s Offshore Energy Exhibition & Conference. The event will be held on October 13 and 14, 2015. Save the date and join tens of thousands international professionals again at the meeting place for the offshore industry in Amsterdam. Offshore Energy is an annual eve
The first foreign cargo is about to berth at Iran’s Shahid Rajaee Port, marking the port’s official comeback to providing of international container services, after lifting of EU sanctions against the port’s operator Tidewater Middle East Company, Fars news agency reports. The cargo will be brough
Global port operator DP World has renegotiated its loan securing more favourable terms regarding both the amount and lifespan. Namely, the Dubai-based company has signed a five-year loan facility worth a $3 billion, which replaces the existing $1 billion deal due for maturity in 2018, Reuters cite
The demand for LNG ships has shot up this year with orders coming to $4.6bn, the Irish Maritime Development Office (IMDO) said in its Shipping Market Review citing Lloyd’s List. Twenty-three contracts for the building of new LNG carriers have been signed so far this year, at a rate of almost one a
The biggest cargo shipping company in Israel ZIM and the state of Israel have reached an agreement regarding the terms of the Golden Share, allowing ZIM to execute the restructuring agreement. ZIM said that it was preparing to complete the restructuring agreement according to the planned schedule.
Kazakhstan’s infrastructure development at the Port of Aktau, and in Khorgos in the east of the country is gaining momentum. A special ceremony held early this month saw the President of Kazakhstan, HE Nursultan Nazarbayev, inaugurate the construction of the new Khorgos Special Economic Zone (SEZ)
Iran’s leading oil tanker firm NITC still has a long and arduous way ahead in the effort to reach its pre-sanction export levels, in spite of the EU General Court’s ruling against the EU’s 2012 blacklisting designation of the company. NITC, sanctioned both by the EU and the United States, conteste
Hyundai Heavy Industries Co., Ltd. (HHI) has received a Letter of Award (LOA) from Abu Dhabi Marine Operating Company (ADMA-OPCO) for the second package of the Nasr Full Field Development Project. A $1.94bn contract includes building of the fixed platforms, and laying of subsea cables. As per the
All existing passenger ships of 500 gross tonnes and all new cargo ships of 3,000 gross tonnes are required to carry ECDIS from their first survey after 1 July 2014. In 12 months time, on 1 July 2015, this will be further extended to include all existing tankers of 3,000 gross tonnes, extending to
A recent survey shows that up to half of seafarers don’t have reasonable access to communication in order to keep in touch with their family and friends. The 2014 Crew communications survey issued by Futurenautics Research in association with InterManager, ISWAN, PTC, BIMCO and CrewToo shows that
Problems of 6,400 seafarers and their families were resolved during 2013, according to the 2013 Annual Review for SeafarerHelp issued by the International Seafarers’ Welfare Assistance Network (ISWAN). SeafarerHelp is a free 24 hour multi-lingual helpline for seafarers. There was a 35% increase in
The German cruise company AIDA Cruises has decided not to call at the Israeli Port of Ashdod for the months of July and August, following the incident in which the cruise ship AIDAdiva experienced Israeli-Palestinian conflict first-hand, with some shrapnel landing on the cruiser’s deck. The passen
Box traffic in Northern Europe’s six largest ports will rise by 6.9% in the latter half of 2014, the Irish Maritime Development Office (IMDO) said in its Shipping Market Review referring to the Lloyd’s List findings. According to the latest Global Port tracker report published by Hackett Associate
