Euronav agrees $300m capital increase to help fund purchase of Maersk VLCCs Euronav has now completed last step for full financing of Maersk's 15 VLCCs
Nobu Su loses attorney Legal representatives have withdrawn services over non-payment of bills, according to court filing
Unscrupulous owners may break the low-sulphur rules Danish shipowners call for non-compliant ships to be detained once 2015 curbs take effect
Otto pushes on with shipping book sell-off As leading ship financiers prepare to meet in Hamburg, Commerzbank chief Stefan Otto tells of winding down a $29bn loans portfolio
Cosco Corp reports a 71% drop in annual net profits Cosco Group unit turns in a weaker performance for shipbuilding and repair
Logistical problems could delay Yamal LNG export project Language barriers, bad weather and difficult trade lane challenge timely development
Scorpio Tankers books higher vessel revenues in 2013 Out with the old, in with the new as ordering binge transforms the company's fleet
Evergreen boosts CKYH's average boxship size Adding the Taiwan carrier helps the alliance to gain ground on P3's economies of scale
CMES borrows $82m from parent at low rate Chinese tanker owner fixes one-year, yuan-denominated loan at 3%
Dorian LPG declares options for three VLGC newbuildings Owner also secures two five-year time charters
Varun denies report that banks are pressing it to sell LPG vessels However, Khatau confirms that the company will dispose of some large tonnage
Nanjing Tanker books provisions of $757m for weak VLCC rates Free to read: State carrier loses value on nine owned and 10 chartered in very large crude carriers
LNG owners brace for tougher markets as spot earnings fall Free to read: Uncertainty grows as earnings drop $4,000 in a week
Rickmers Maritime reports a 15% drop in annual profits Singapore unit trust says non-cash impairments undermine stable earnings
Svendborg Maersk container washes up in the UK French authorities recover 12 boxes swept overboard in Bay of Biscay storm
Hellenic Carriers hails 'a transformative year' despite loss AIM-listed Greek owner sails into 2014 with a bigger, younger fleet
Pan Ocean considers selling its controlling stake in Heungkuk Mutual Struggling company bought small bank for ship financing in 2011
Asian owners book eight firm very large gas carriers at DSME Two unnamed buyers place orders worth $960m
Scorpio Tankers sets the tone in the modern product tanker era Lauro's confidence in segment centres on growth of Middle Eastern and Asian refineries
Spill stymies Mississippi River trade Vessel traffic was halted along the Lower Mississippi River after an oil spill closed a section of America's busiest export gateway
Scorpio Tankers expects upswing in 2014 NYSE-listed Scorpio Tankers has reported weaker-than-expected results in its most recent quarter but maintains that 2014 returns are on the upswing
OSG seeks more time Overseas Shipholding Group (OSG) has asked a Delaware bankruptcy judge to give it until the end of June to solicit approval for a restructuring scheme
DSME net profit up by 37.5% Daewoo Shipbuilding & Marine Engineering (DSME) said today that its net profit for 2013 rose by 37.5% year-on-year
RMT sees pressure for new charters Rickmers Maritime Trust (RMT) chief executive officer Thomas Preben Hansen told IHS Maritime today that three of the trust's 15 ships could get lower charter rates after they come off their current hires this year
PCC collides with two Bruneian naval ships A pure car carrier collided with two Bruneian naval ships on 23 February
EOCL and ICBC agree on sale and leaseback Offshore service provider Emas Offshore Construction Limited (EOCL) inked a $200M sale and leaseback deal for MV Lewek Champion with ICBC Financial Leasing last week
Swissco profit up 41.5% Singapore-based offshore vessel owner Swissco Holdings posted net profit of SGD23.19M ($18.3M) for 2013, up 41.5% year on year
Newbuilding, resale investments rocket for bulkers Investments in drybulk carriers shot up for both newbuildings and secondhand buys in January, according to statistics compiled by Greek broker Golden Destiny
China opens coastal container transshipment Foreign-flagged vessels are now allowed to operate coastal container transshipments between Shanghai and other opened ports in China, announced the Ministry of Transport today
Marad's Jaenichen Speaks Frankly on Aiding Merchant Marine Acting U.S. Maritime Administrator Paul "Chip" JaenichenActing U.S. Maritime Administrator Paul "Chip" Jaenichen last week sat down with JOC Senior Editor Mark Szakonyi to discuss how the agency could help the U.S. Merchant Marine survive - and even thrive. Jaenichen in January said U.S.-flag carriers in international markets are "at...
Lytle Expects No Work Stoppage on US West Coast Chris LytleCargo interests are making contingency plans this year to avoid West Coast ports in case contract talks between waterfront employers and the International Longshore and Warehouse Union break down, but at least one port director believes there won't be a strike or lockout. Chris Lytle, executive director of the Port...
Quality Carriers Expands Into Denver Market TAMPA, Fla., Feb. 21, 2014 (GLOBE NEWSWIRE) -- Quality Distribution,Inc. (Nasdaq:QLTY) ("Quality") announces its wholly-owned subsidiary,Quality Carriers, Inc. ("Quality Carriers"), the leading North Americanbulk chemical carrier, has expanded into the Denver, Colorado market. "As the leading bulk carrier in North America, we've listened to ourcustomers who have asked for options in...
DP World opts for Gloria, Kalmar's latest reachstackers for the new Jebel Ali Terminal 3 Kalmar, part of Cargotec, has gained an order from DP World to supply two new generation reachstackers, named Gloria, to the Jebel Ali new container terminal 3 (T3) in Dubai. The order was placed in January 2014 and delivery is scheduled for June 2014. DP World's impressive container terminal T3 will...
Jensen Maritime Selected to Design Some of First LNG Bunker Barges in U.S. (SEATTLE; February 24, 2014) '-Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, has been awarded a contract to design some of the first liquefied natural gas (LNG) bunker barges in the U.S. for customer LNG America LLC, a Houston-based LNG fuel supply and distribution company. Currently no LNG bunkering...
Virginia Port Truckers Air Frustrations Port drayage operators in Virginia are complaining about congestion and slow turn times at at Hampton Roads container terminals. More than 50 independent owner-operators gathered Saturday in Norfolk to air their frustrations and call for action. The event was organized by George Berry, an owner-operator driver. "We're trying to call attention to...
Reefer Shippers Stress Over Slower Ship Speeds, Fewer Port Calls Following a frenetic decade of ups and downs in volumes and rates, the steamship industry is seeking stability through alliances and cost-cutting that has lengthened voyage transit times. While many shippers don't see much of a problem in slow-steaming, exporters of refrigerated goods have more reason to be concerned. In the...
CMA CGM Launches Equatorial Guinea Express Service CMA CGM has launched the Equatorial Guinea Express, a weekly, direct service from Tanger-Med to the ports of Bata and Malabo in Equatorial Guinea. The service started its maiden voyage with the Mario A, voyage 900BS, from Tanger-Med on Feb. 18, and will call at Bata on March 3 and Malabo...
Queue climbs Authorities in Louisiana are racing to clean up an oil spill that occurred during a collision between a tug and barge nearly three days ago.
Euronav firms up funding Euronav has secured the rest of the cash it needs to fund the $980m acquisition of 15 VLCCs from Maersk Tankers of Denmark.
Eteka boss arrested The head of Eteka, a prominent Greek energy company, has been accused of participating in a fuel-smuggling ring.
LNG reality Jensen Maritime has secured a contract to design LNG bunker barges for US compatriot LNG America.
NOL to turn black Neptune Orient Lines (NOL) is on course to turn an annual profit this year for the first time since 2010 as it continues to wage war on costs.
Three vie for Bijela Montenegro has received three bids in the auction of Adriatic Shipyard Bijela.
No hesitation Dorian LPG had no hesitation in taking out three VLGC newbuilding options at Hyundai Heavy Industries today despite concerns about the phenomenal ordering activity seen in the sector.
SEALS cleared Drugs do not appear to have caused the deaths of two Americans who served as armed security guards on the Maersk Alabama, TradeWinds has learned.
VLGC sale buoys Scorpio New York-listed Scorpio Tankers has posted a profit in the fourth quarter thanks to the sale of its 11 VLGC newbuilding contracts to Dorian.
CMES raising CNY 1bn China Merchants Energy Shipping (CMES) is selling CNY 1bn ($163.97m) of short-term debt.
Jadroplov for sale The Croatian government has put a majority stake in bulker owner Jadroplov up for sale.
Famine over Pareto Securities has boosted its view on the VLCC sector as years of famine induced by a supply tsunami give way to a market recovery.
Ulstein adds two more Norway's Ulstein Verft is to continue with its strategy of speculatively building platform supply vessels with a view to selling them in the future.
Svendborg box beaches A container thought to have come from a storm-hit Maersk boxship has been washed ashore in the UK.
Paragon just right Jefferies has initiated coverage of Paragon Shipping with a buy rating noting the bulker owner has a unique balance sheet.
Statoil keeps Havila duo Statoil is keeping a pair of Havila Shipping offshore support vessels it has hired since they hit the water.
Ronja fined for smash Shipowner Ronja Marine has been fined DKK 4m ($736,000) after one of its ships bashed a Danish bridge.
SembCorp ahead in 2013 SembCorp Marine has trumped forecasts in 2013 after recording a strong finish to the year.
Reef dents GC Rieber GC Rieber Shipping may not be sorry to wave goodbye to its stake in Reef Subsea after the loss making outfit put a severe dent in its final quarter earnings.
PCTC in navy crunch An investigation has begun after a Japanese car carrier collided with two navy vessels in Brunei.
Two more for Stream Utkilen-backed owner Stream Tankers has increased its Japanese chemical tanker order with another two ships.
Goodwill bad for Rickmers Germany's Rickmers Maritime has been pushed into the red for the fourth quarter after reviewing its fleet value.
DSME boosts profit DSME has recorded an improved full year performance.
Cosco profit slumps Cosco Corporation (Singapore) saw a slump in full year earnings as it continued to suffer from low profit margins on work secured during the shipping downturn.
Pan Ocean selling Loss-making Korean bulker owner Pan Ocean is close to raising money through the sale of its ship finance unit.
ALG sinks into the red All Leisure Group has sunk to a full year loss as its bottom line followed a script outlined in a profit warning two weeks ago.
Dorian takes three Dorian LPG has snapped up options on three VLGCs at Hyundai Heavy Industries at well below present prices.
Novoship on the rise Russia's Novorossiysk Shipping (Novoship) has posted a 29% jump in 2013 profit despite a fall in revenue.
Desperate escape A Vietnamese crew abandoned their listing cargoship without turning off the power.
Hellenic sees less red Hellenic Carriers has seen an improvement in its financial performance, but not enough to pull it out of the red.
Oceanteam takes control Dutch offshore shipowner Oceanteam has snapped up the remaining 30% of engineering company KCI.
DSME bags 12 VLGCs DSME has secured orders for up to 12 VLGCs in a move that takes the large gas carrier orderbook to potentially 75 ships.
Floatel returns to profit Floatel International has ended the financial year on a positive note with a return to profit in the fourth quarter.
PACD orders newbuild Pacific Drilling has reportedly ordered another deepwater drillship at Samsung Heavy Industries, according to broking sources.
Nordic names new CEO Nordic Tankers Group has named Per Sylvester Jensen as its new chief executive - its third in less than a year.
UPS defends crew rest policies in midst of plane crash investigation Crew rest is a shared responsibility and "overnight workers must pay special attention to their rest regimen," UPS Airlines spokesman Mike Mangeot said in an email to American Shipper.
SeaIntel: CKYH and Evergreen could benefit from adding members Expansion of the CKYH alliance to include China Shipping or United Arab Shipping Corp. would narrow the economy of scale advantage the P3 alliance will have over its competitors, said SeaIntel.
LNG America picks Jensen to design bunker barge No LNG fueling barges are in operation in the United States, and the LNG America order represents some of the first of these vessels to be developed.
Canadian National's 2014 investments to top $2 billion
PostNL sees loss in 2013
Oil spill closes stretch of Miss. River
Volga Dnepr marks 1,100th flight for oil and gas
Salt shipment underscores frustration with Jones Act The shortage of road salt in New Jersey soon could be alleviated, but the debate about the maritime shipping law that prevented the quick transport of an emergency shipment along the Northeast coast is likely to continue.
Railroad industry adopts safety measures for oil trains
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