Germany's KG system in crisis as banks turn up the pressure WITH financiers due to pay next newbuilding instalments, banks insist on more security before releasing funds.
Investors put less cash in KG houses
Idle boxships approach 10% of fleet LATEST Lloyd's MIU data show 427 boxships currently unemployed.
Samsun Logix Hellas facing claims over unpaid charter fees GREECE-based owner linked to troubled South Korean bulker operator Samsun Logix, is facing a raft of rule B attachment applications.
Try, try again Spanish warship Victoria gets involved as pirates armed with rocket-propelled grenades make two hijack attempts off Somalia.
Star suspends Lenders relax asset value covenants for Tsirigakis-led bulker owner, but dividend payments are shelved.
Navy nabs more USS Vella Gulf intercepts nine more suspected pirates after Mercator Lines ship calls for help.
OGX launches Independent Brazilian oil and gas firm is poised to launch exploration drive with five chartered-in offshore vessels and four semi-submersible rigs.
Targeting 'stable' DnB NOR shipping chief speaks to TradeWinds Web TV about the Norwegian bank plans for this year and its reponse to covenant breaches.
Far less taxing Farstad books huge rise in fourth quarter profit to help bury memories of last year's taxman inspired loss.
Big incentive Drop in expenses from long-term incentive plan helps tanker owner Teekay to bigger nine-month profit.
'No fear' Ingar Skaug says Wilh Wilhelmsen has no plans to axe newbuildings despite warning of a "highly uncertain" year ahead.
Fuel dump Japan's NYK and MOL slash monthly bunker fuel contracts as activity wanes in downturn.
TK LNG in black After higher Teekay Corp spin-off posts nearly $46m in quarterly profits after a loss a year earlier.
SIF bails Domestic investment fund sells 7% holding in STX's Romanian shipyard Braila.
WW-arning signs Wilh Wilhelmsen warns of "highly uncertain" future after posting fourth quarter loss.
TOO on top Teekay's shuttle tanker and FSO offshoot pushes up nine-month profits and revenues.
Death blast rap Report into explosion on Greek ship Friendshipgas which killed eight points finger at technicians' "negligence".
EMS back in black But the Annette Malm Justad-led firm vows to shake up its shipmanagement unit after its performance fell short of expectations.
Japan busy Port state control officers detained 28 ships in January, up from 15 in December.
Ferry angry Queen of the North passengers call BC Ferries' compensation offer for sinking a slap in the face.
Ten for Qingdao Hyundai Corp's Chinese shipyard to build series of dry cargoships for Volga-Baltic of Russia.
Cruise crunch Fred Olsen holding company Bonheur posts lower 2008 profit as UK cruise business suffers from tough competition.
Namura cuts Japanese shipbuilder slashes annual profit forecast as growth slows in first nine months.
Eagle's nest egg US-listed Eagle Bulk Shipping lands $13.7m in foreign exchange settlements on newbuildings.
ABG bridge bash Two newbuildings drag anchors at Indian shipyard and drift downriver before hitting bridge at Surat.
Toro trouble DryShips vows to sue struggling Samsun Logix after it breaches terms of the Toro deal leaving the sale hanging by a thread again.
Aden fleet grows Singapore is sending a naval vessel to join the growing international armada off Somalia.
Limited exposure Peter Georgiopoulos-led bulker outfit confirms it has only one ship on charter to Samsun Logix.
Banana drama Banks could be losing appeal for some perishables, says Star Reefers which sees profit drop.
Hallin inks charter UK-listed offshore company ties up $20m deal with Shell for subsea operations vessel newbuilding.
Expansion delayed Bad weather causes delay in work to expand capacity at Australia's largest coal export facility.
China adopt stimulus plan China's State Council, or Cabinet, headed by the prime minister Wen Jiabao has adopted a stimulus plan for the nation's shipbuildning industry, which the Cabinet consider to be strategic for
US Navy arrested suspected pirates The US Navy has arrested seven suspected pirates after an attack on the tanker Polaris, 13,107 DWT, in the Gulf of Aden. The US Navy cruiser Vella Gulf received a
Tough times for Golden Ocean John Fredriksen-controlled Golden Ocean is facing severe problems. The Oslo exchange-listed company's sale of a panamax vessel has been re-negotiated to a much lower sale price as
Norway ratifies ILO-convention Norway has ratified the Maritime Labour Convention, adopted by the ILO (International Labour Organization) in 2006. The convention strengthens working and living conditions of seafarers on board. Norway is the
Two out of eleven detained vessels Norwegian The Eitzen controlled chemical tanker Sichem Eva, 14.485 DWT built in 1989, was detained after a Port State Control in Almeda, California, on January 11. Pipes for discharging the
Record year for Wilh. Wilhelmsen The Norwegian shipping and maritime services group Wilh. Wilhelmsen (WW) reports record figures for 2008. The company had an operating income of USD 3.4 billion, up 25 per cent
Teekay lays off 198 seamen 198 Norwegian seamen at Teekay have been given notice as a result of their employer deciding to reflag and switch Norwegian workers to Filipino. "Social
US via Riga to Afghanistan The US military will ship its non-military goods destined for Afghanistan to Riga where it will be transferred to railway. The Latvian President Valdis Zatlers has discussed the matter
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