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Asia
Mermaid companies renegotiate contracts at lower rates
Two companies affiliated with Singapore’s Mermaid Maritime have renegotiated their respective contracts at lower rates with what appears to be…
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Europe
Åge Remøy to invest $62m in founding new OSV company
Åge Remøy has revealed plans to start offshore support vessel (OSV) company, just after Solstad shareholders approved a merger of the…
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Europe
Victor Restis cleared of money laundering and embezzlement charges
The Hellenic Supreme Court in Athens has cleared shipowner Victor Restis of all charges of money laundering and embezzlement on the…
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Europe
Shareholders approve merger of Rem and Solstad
Shareholders have approved the merger of Rem Offshore with Solstad Offshore at an extraordinary meeting held in Oslo today. REM…
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Regulatory
CEO of the Korean Register passes away
Dr B S Park, chairman and CEO of the Korean Register, has passed away after a short illness, aged 63.…
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Europe
NewLead’s lawyers pull out of vessel dispute
Lawyers representing NewLead Holdings in a vessel arrest suit have been granted permission to withdraw as counsel for the Greek…
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Asia
North Korean ships are reflagging in Tanzania
Almost 50 ships linked to North Korea have reflagged in Tanzania since March, according to NK News reports, which called the frenzied flagging “an…
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Asia
ExxonMobil ordered to pay Chad almost 7 times its GDP
A consortium of three oil companies led by ExxonMobil has been ordered to pay Chad $74bn in fines after a court in…
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Europe
Thun orders four dual-fuel coastal tankers
Thun Tankers has ordered four dual-fuel coastal tankers from Scheepswerf Ferus Smit in the Netherlands for an undisclosed contract price.…
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Asia
NYK Line braces itself for $1.9bn in extraordinary losses
Japan’s NYK Line has said it will report ¥195bn ($1.9bn) in extraordinary losses in its results for the second quarter…
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Europe
Angeliki Frangou implicated in alleged money laundering scheme
Navios’ CEO Angeliki Frangou is among a group facing felony charges in Greece in connection with an alleged money laundering racket.…
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Europe
Genco gains long-awaited $125m equity financing, unlocks $400m loan
After a long wait and an extended deadline, entities representing three of Genco Shipping & Trading’s largest shareholders have entered…
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Europe
Weather stalls efforts to load Transocean Winner on to heavy-lift ship
Time is running out for salvors attempting to load the stranded drilling rig Transocean Winner on to a heavy-lift ship, which…
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Dry Cargo
Wilson sells another small bulker
Wilson has sold its 40-year-old singledecker bulk carrier to an unnamed Marshall Islands-registered company for $518,500. The vessel was due to undergo…
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Europe
Karadeniz linked to another vessel buy
Brokers are reporting that Karadeniz has purchased a Japan-built aframax tanker, , from Greek owner LL Energy for $11.8m. The 18-year-old…
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Asia
Typhoon Chaba batters Port of Busan, seafarers rescued
At least three people have been killed in South Korea by Typhoon Chaba, and a crew of seafarers had a narrow…
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Asia
HMM will not be sold to a foreign firm, says main creditor
Hyundai Merchant Marine’s (HMM) main creditor Korea Development Bank (KDB) has said the struggling shipowner will not be sold to…
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Europe
New CEO for Maersk Supply Service
Maersk Supply Service’s chief procurement officer Steen S. Karstensen is to replace Jørn Madsen as CEO of the company from…
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Environment
Shipowners call for IMO timeline to reduce greenhouse gas emissions
The International Chamber of Shipping (ICS) has led national shipowner associations in calling on the IMO to develop a timeline…
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Europe
Costamare gets new $87m loan and reschedules repayments
Costamare has secured new financing and re-arranged some of its existing loan agreements to reduce its balloon payments due in 2018…
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