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Europe
Fredriksen faces backlash over Seadrill restructuring plan
John Fredriksen faces a significant creditor backlash over his restructuring plans for Seadrill. Last month Seadrill filed for chapter 11…
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Europe
100-vessel target for MPC Container Ships
The fastest growing containership owner this year has just outlined plans to quadruple the size of its fleet. MPC Container…
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Containers
Spot freight rates from Asia to West Africa slump by more than 50% since July
Spot box freight rates from Asia to West Africa have more than halved since July as lines have added enormous…
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Dry Cargo
Ultramax newbuild prices up 13% this year
Dry bulk and tanker newbuild prices are heading in divergent directions this year in line with current freight rate trends.…
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Asia
PPL Shipyard cancels Oro Negro jackup rigs deal
In yet another blow to Singapore’s hard pressed shipyards scene, PPL Shipyard, part of Sembcorp Marine, has terminated contracts with…
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Europe
CMA CGM swoops for SOFRANA Unilines
French container shipping giant CMA CGM continues to strengthen its regional network, announcing the acquisition of SOFRANA Unilines, a line…
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Containers
No end in sight as S&P volumes set new records
News carried on Splash yesterday that 2017 is set to be a record year in terms of the volume of…
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Middle East
Creditors set to take haircut as Drydocks World falls back on local laws for protection
Creditors owed money by Dubai’s Drydocks World are set to get back just 21 cents on the dollar as the…
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Asia
United Ocean bulker sale nears completion
Trustees of bust United Ocean Group are nearing the end of the fleet sell-off of the Tokyo tonnage provider. Pireaus-based…
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Asia
Lepta linked with Yangzijiang cape pair
Low profile Lepta Shipping is being linked by brokers as ordering one firm capesize with another on option. The Tokyo…
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Middle East
‘Extreme caution’ still needed when calling at Libya
The Libyan port of Benghazi reopened yesterday after a three-year closure as civil war has battered the North African nation.…
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Containers
Secondhand ship sales on track for record year
2017 is shaping up to be a record year for secondhand sales volumes, according to the latest weekly report from…
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Asia
Flag of infamy back in the headlines
One of the world’s most notorious shipping flags is back in the headlines. Despite the Cambodian government officially rescinding its…
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Europe
Lomar concedes brand new boxship aground off New Caledonia will have to be scrapped
Lomar Shipping has conceded that its brand new 2,194 teu boxship will have to be scrapped. The vessel, delivered from…
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Asia
MacGregor shifts head office to Singapore
Equipment manufacturer MacGregor, part of Finland’s Cargotec, has established its head office in Singapore, a move that has been a…
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Americas
Final damning report on El Faro sinking issued
Two years to the day since the 40-year-old El Faro sank during a hurricane near the Bahamas, the US Coast…
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Europe
Triple acquisition takes MPC Container Ships fleet to 23 in just five months
The remarkably rapid buildup of the MPC Container Ships fleet continues apace. The Oslo-listed company, founded this year, has taken…
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Dry Cargo
Today’s bargains, tomorrow’s noose
Shipping’s simple, especially dry bulk – one good year, two years bad. That was the advice I was given as…
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Europe
Norwegian government chips in $17m to help build world’s first autonomous boxship
The Norwegian government enterprise Enova has decided to grant NOK133.6m ($16.83m) to Yara to build the world’s first electric and…
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Americas
Trump rescinds Jones Act for 10 days to help hurricane-hit Puerto Rico
President Donald Trump has finally ordered the Jones Act to be waived for 10 days for shipments to hurricane-hit Puerto…
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