Category archives for: Headlines

Cosco Notches Bulker Duo Order

Cosco Notches Bulker Duo Order

Cosco (Zhoushan) Shipyard Co., Ltd has secured a contract valued over USD 56 million from an Asian buyer to build two 64,000DWT bulk carriers, Cosco Corporation (Singapore) Limited has revealed.  The two vessels are scheduled for delivery in 4Q2016 and 1Q2017 respectively. Cosco (Zhoushan) Shipyard is close to the international sea route and navigation hub clusters in […]

Scorpio Enters Boxship Market with Style

Scorpio Enters Boxship Market with Style

Scorpio Group, Monaco-based owner of tankers and bulk carriers, has secured charter agreements for its three 19,200 teu containerships to be built by Samsung Heavy Industries, according to sources close to the matter. The newbuilds, to be delivered in 2016, are said to have been hired by Mediterranean Shipping Co on a 15-year bareboat charter. […]

China’s Shipping Giants Form USD 1.1 Bln Joint Venture

China’s Shipping Giants Form USD 1.1 Bln Joint Venture

China’s two shipping giants China Merchants Energy Shipping Co Ltd (CMES) and Sinotrans & CSC Holdings are setting up a USD 1.1. billion joint venture aimed at boosting the country’s crude importing capacity, CMES said in a filing to Shanghai stock exchange. Under the deal, CMES will have the majority stake in the very large […]

Readers’ Picks of the Week (Aug 4 – 10, 2014)

Readers’ Picks of the Week (Aug 4 – 10, 2014)

Egypt to Build New Suez Canal Egypt is looking to build a new Suez Canal parallel to the existing one in a USD 4 billion project aimed at boosting the trade along the Canal, which offers the fastest …Read more Exclusive: Workers Left High and Dry as GoAGT Goes Insolvent Maritime security company GoAGT Ltd, […]

Exclusive: Workers Left High and Dry as GoAGT Goes Insolvent

Exclusive: Workers Left High and Dry as GoAGT Goes Insolvent

Maritime security company GoAGT Ltd, headquartered in Malta, has hit the headlines as reports on the company going insolvent raise eyebrows. The company ceased trading almost two weeks ago amid millions of outstanding salaries to its security staff who have been left at sea as their CEO is accused of abandoning a sinking ship. Employees […]

US Okays Hapag-Lloyd, CSAV Merger

US Okays Hapag-Lloyd, CSAV Merger

U.S. regulators have sanctioned the merger of German shipping company Hapag-Lloyd AG and Chilean peer Cia. Sud Americana de Vapores SA, VAPORES.SN (CSAV), bringing the companies a step closer to forming the world’s fourth largest shipping entity, according to the Wall Street Journal.   “The Department of Justice and the Federal Trade Commission have approved the […]

Egypt to Build New Suez Canal

Egypt to Build New Suez Canal

Egypt is looking to build a new Suez Canal parallel to the existing one in a USD 4 billion project aimed at boosting the trade along the Canal, which offers the fastest shipping link connecting Europe and Asia, according to Reuters.   “This giant project will be the creation of a new Suez Canal parallel […]

TUI Cruises Back at STX Turku Shipyard

TUI Cruises Back at STX Turku Shipyard

The previously announced fleet expansion plans of TUI cruises are being turned into action with two more newbuilds now on order.    The Mein Schiff fleet shall grow from current three to six ships and then 14,000 beds by 2017.  The Mein Schiff 4 is currently being built and with the now decided new orders […]

Interview: All about Piracy

Interview: All about Piracy

Piracy has become a lucrative business and an ever more dangerous for those being targeted by it. Once at sea, seafarers expose themselves to various dangers, especially from those lurking from the shadows.   As hijackings become more frequent and more intense, we wanted to find out more about piracy from those battling it, therefore […]

Readers’ Picks of the Week (July 28 – Aug 1, 2014)

Readers’ Picks of the Week (July 28 –  Aug 1, 2014)

Australian Maritime Unions Standing Their Ground The Maritime Union of Australia (MUA) and the Australian Maritime Officers Union (AMOU) have confirmed they will push ahead with a legal challenge to the Abbott Government’s …Read more Costa Concordia Changes Hands The notarial deed establishing the transfer of ownership of the Concordia from Costa Crociere to the […]

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