Category archives for: Headlines

Interlink Invests Heavily in Bulker Fleet

Interlink Invests Heavily in Bulker Fleet

American bulk carrier owner Interlink Maritime is pursuing an aggressive fleet expansion plan comprising up to eighteen bulkers ordered at three Chinese yards. Five  39,000dwt bulker orders have been placed with Zengzhou Shipbuilding. The contract includes options for five more. The five, worth $240m, will start delivery at the end of the 2015, continuing into the middle of 2016. The quintet, […]

Thai Tanker Hijacked off Malaysia

Thai Tanker Hijacked off Malaysia

An armed pirate gang hijacked a Thai tanker off Malaysia’s east coast and siphoned its cargo of oil on Thursday, August 28, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) said on Friday. According to ReCAAP, the group, comprised of six armed pirates, approached the unnamed tanker in a speedboat at approximately […]

Readers’ Picks of the Week (Aug 25-29, 2014)

Readers’ Picks of the Week (Aug 25-29, 2014)

Plastic Main Propellers Making Debut Plastic Main Propellers Making Debut Japanese classification society ClassNK and Nakashima Propeller Co., Ltd., have installed the world’s first carbon fiber reinforced plastic (CFRP) propeller on a main propulsion system of a merchant vessel.…Read more Deadliest Week in Mediterranean More than 300 people died while trying to make irregular sea […]

Hyundai Mipo Scores Carrier Trio

Hyundai Mipo Scores Carrier Trio

 Hyundai Mipo Dockyard Co, a subsidiary of South Korean shipbuilding giant Hyundai Heavy Industries, has secured orders for three vessels, two liquefied petroleum gas (LPG) carriers and one asphalt carrier. The LPG order, worth USD 104.7 million, comes from the Marshall Islands-based operator StealthGas. The carriers are slated for delivery by the end of 2017. These vessels will measure […]

Another Lawsuit Fuels Qingdao Port Scandal

Another Lawsuit Fuels Qingdao Port Scandal

China’s Qingdao port is sinking further under a pile of lawsuit cases over an ongoing metals financing fraud that has resulted in over USD 1 billion of claims. The latest developments have seen Shanxi Coal International file a lawsuit against the Australian trading arm of China’s Citic Resources Holding Ltd for $89.8m plus interest and costs for […]

KKR, Borealis Hustle Nine Container Ships

KKR, Borealis Hustle Nine Container Ships

The joint venture between KKR Special Situations Group of Kohlberg Kravis Roberts & Co. L.P. (USA) and Borealis Maritime Ltd. (UK) has signed an agreement with Frankfurt-based Commerzbank to buy nine container vessels financed by the bank. USD 216 million proceeds will be used  for the redemption of loans. “This transaction is the second successful capital markets […]

Interview: Switch to Gas Needs Speeding Up

Interview: Switch to Gas Needs Speeding Up

Maritime transport is moving towards the use of gas as a prime source of energy for propulsion and power generation on board ships. As the ‘dash for gas’ takes hold worldwide, the maritime industry has a golden opportunity to leapfrog the increasingly strict regime governing emissions of harmful atmospheric pollutants, reduce the carbon footprint of […]

Scorpio Bulkers in Sextet Deal

Scorpio Bulkers in Sextet Deal

Monaco-based bulk shipper Scorpio Bulkers has ordered six 82,000dwt Kamsarmaxes from Chinese shipbuilder Shanghai Shipyard, the Chinese media report. Under the deal, the vessels will start delivery from the second quarter of 2015. The value of the order has not yet been revealed. Scorpio was unavailable for comment when asked by World Maritime News for […]

KPC to Double Crude Export to China

KPC to Double Crude Export to China

Kuwait Petroleum Corporation (KPC) has signed a historic deal with China’s Unipec which will see almost doubling of KPC’s shipments of crude to China. This is a milestone deal for KPC, under which, as of 2014 KPC will provide Unipec crude oil with the volume expected to reach 300,000 barrels per day (bpd). The amount […]

Readers’ Picks of the Week (Aug 18 – 24, 2014)

Readers’ Picks of the Week (Aug 18 – 24, 2014)

Strike at Ningbo Port Turns Violent A massive strike by as many as 10,000 truck drivers at Ningbo’s Beilun Container Port erupted into violence on August 20, as protestors clashed with riot police and smashed the windshields…Read more Engine-Room Fire Disables Tanker, Kills One Crewman U.S. Coast Guard air and cutter forces continue to assist […]

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