Category archives for: Europe & Eurasia

Extra Tonnage in Demand

Extra Tonnage in Demand

Extra tonnage seems to be in demand pulling containerships from their idleness and bringing the idle fleet levels to a record low this week.   According to the latest figures from Lloyd’s List Intelligence,  the capacity of the inactive box fleet decreased to 216,396 teu this week, compared with 238,679 teu a week ago. In terms […]

Ardmore Secures Cash for Its Fleet Additions

Ardmore Secures Cash for Its Fleet Additions

Chemical tanker operator Ardmore Shipping Corporation announced that it has signed agreements to upsize its existing senior loan facility with ABN AMRO Bank N.V., Nordea Bank Finland Plc, and Skandinaviska Enskilda Banken AB.   The total amount available under the facility has been increased by $53 million to $225 million. The proceeds from the expanded […]

ACM-Braemar Merger Moves Ahead

ACM-Braemar Merger Moves Ahead

ACM Shipping Group (ACM) announced that at a hearing held on Wednseday, the High Court of Justice in England and Wales sanctioned the scheme for a recommended merger pursuant to which Braemar will acquire the entire issued and to be issued ordinary share capital of ACM.   The merger is still dependent on the formality […]

VIDEO: Conversion of Stanislav Yudin

VIDEO: Conversion of Stanislav Yudin

In November 2013, Damen’s Shiprepair & Conversion facility in Rotterdam began work on a major refit of the Stanislav Yudin, a 24,800 tonne heavy crane vessel owned and operated by Seaway Heavy Lifting (SHL).   During just four and half months Damen Shiprepair Rotterdam (DSR) completed a complex refurbishment that included a complete upgrade of […]

Royal Caribbean’s Overall Business Solid

Royal Caribbean’s Overall Business Solid

Royal Caribbean Cruises Ltd. reported that yields for the second quarter were up double digits in Europe and China offsetting the Caribbean’s softness.   As explained by the company, “this was at the high end of the company’s guidance driven by strong close-in booking trends for European and China sailings despite continued softness in the […]

Siphoning Incidents Nothing New?

Siphoning Incidents Nothing New?

The trend of incidents involving siphoning of fuel/oil from product and oil tankers at sea is not new. Statistics for Jan-Jul of 2014 reveal that the occurrence of such incidents took place more frequently compared to the annual numbers reported in the past three years (2011-2013), piracy watchdog ReCAAP ISC said in a report.   […]

Capital Product Orders Big

Capital Product Orders Big

Capital Product Partners L.P. has entered into a Master Vessel Acquisition Agreement with its sponsor Capital Maritime for three newbuild Daewoo 9,160 TEU eco-flex containerships at USD 81.5m for each vessel, and two newbuild Samsung eco medium range product tankers at USD 33.5m each.   The three containerships and two product tankers are expected to be delivered to […]

Christening of LNG Hybrid Barge Set for SMM

Christening of LNG Hybrid Barge Set for SMM

Visitors of this year’s SMM trade fair in Hamburg will be given a special treat, as an LNG Hybrid Barge is scheduled to be christened during the fair, Hamburg-based Becker Marine Systems announced.   “We have developed special drive systems for this and are happy to be presenting our LNG Hybrid Barge at SMM,” said […]

Update: Slowly but Surely Concordia Convoy Pushes Ahead

Update: Slowly but Surely Concordia Convoy Pushes Ahead

After approximately 30 hours of navigation, the Concordia has travelled for 63 nautical miles at an average speed of 2 knots. At the moment, the convoy is located between Isola d’Elba and Corsica, the salvage team informed last night.   The sea was said to be calm, accompanied by a North/North East wind with a […]

Fleet Clear-Out at Frontline

Fleet Clear-Out at Frontline

Frontline Ltd. has agreed with Ship Finance International Limited to terminate the long term charter parties for the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce. Ship Finance has simultaneously sold the vessels to unrelated third parties.   The charter parties are expected to terminate in the fourth quarter of 2014. The decision […]

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