European banks need to increase their provisions for bad shipping loans by 25%, to EUR 7.3 billion (USD 9.25bn), according to the European Central Bank’s (ECB) year-long examination of the resilience and positions of the 130 largest banks in the Euro area as of 31 December 2013.
Bulk carrier Saga Falcon ran aground on Sunday, October 26th in the river Rio de la Plata five nautical miles south from Chinchillas, Uruguay.
Jiangsu Hantong Ship Heavy Industry signed a shipbuilding contract with CIMC ENRIC SJZ GAS on 26th October, 2014, for construction of the world’s first CNG carrier.
Royal Caribbean accepted delivery today of its newest cruise ship, Quantum of the Seas, from shipbuilder Meyer Werft, Royal Carribean said.
A fire broke out on Tuesday night in Port Klang, Malaysia after two containerships brushed against each other in wharf.
World Maritime News Staff