Category archives for: Top Stories

Costa Concordia Changes Hands

Costa Concordia Changes Hands

The notarial deed establishing the transfer of ownership of the Concordia from Costa Crociere to the Saipem/San Giorgio del Porto consortium was signed on Sunday, July 27, at 3.40 pm.   The deed rules that the sale is carried out for the specific purpose of demolishing and recycling the wreck as agreed and in accordance with […]

Hamburg Süd Takes Over CCNI’s Liner Operations

Hamburg Süd Takes Over CCNI’s Liner Operations

Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany, and Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile have signed a preliminary agreement by which HSDG will acquire the container liner activities of CCNI.   This acquisition, reportedly worth around USD 160 million, is scheduled to be executed by the latest […]

Atlantic Panamax Freight Rates on the Rise

Atlantic Panamax Freight Rates on the Rise

An improved sentiment prevails in trans-Atlantic Panamax freight rates as demand tightens for tonnage capacity.   Several routes saw freight rise, according to Platts’ data, those being Virginia-Rotterdam coal route (improved to $9.25/mt on Friday, up from $9/mt), Alabama-Rotterdam coal route,  also increased and was assessed at $12.75/mt, up from $12.5/mt, Baltic-UK Continent runs with […]

USCG Medevacs Passenger from Carnival Fantasy

USCG Medevacs Passenger from Carnival Fantasy

A crew aboard a United States Coast Guard rescue helicopter medically evacuated a passenger Thursday night from the cruise ship Carnival Fantasy, approximately 40 miles east of Charleston.   Watchstanders in the Coast Guard Sector Charleston command center were notified via satellite phone call of the situation at approximately 8 p.m. The report stated a […]

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 […]

JES Blacklisted

JES Blacklisted

The Supreme People’s Court of China has blacklisted Jiangsu Eastern Heavy Industry (JEHI), a subsidiary of Singapore-listed JES International for failing to settle its debt obligations.   JEHI has yet to pay up RMB15m (USD 2.4m) stemming from 5 separate lawsuits filed between January and April 2014 by various equipment suppliers, Seatrade Global reports. The Supreme Court has put JEHI on […]

Taizhou Sanfu Bags Two Tanker Orders

Taizhou Sanfu Bags Two Tanker Orders

A Singaporean owner has placed an order for two 34,500 dwt chemical tankers with Chinese shipbuilder Taizhou Sanfu Shipbuilding, the builder announced.   The ships will feature a length of about 180m, breadth of 30 m and a design draft of 9.20 m. Further details on the order have not been revealed. The order intake […]

Sewol Owner’s Cause of Death a Mistery

Sewol Owner’s Cause of Death a Mistery

The South Korean state forensic agency has reported that it was impossible to determine the cause of death of Yoo Byung-eun, the fugitive shipping tycoon allegedly responsible for April’s Sewol ferry disaster, due to the state of progressed decomposition of the body, according to Yonhap.   The body of the 73-year-old billionaire, owner of Chonghaejin Marine Co., operator […]

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 […]

Advertisement





lb
McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams