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Europe
Guilty verdicts for heroin smuggling owner and agent
A former shipowner and a shipping agent were found guilty yesterday of smuggling more than two tons of heroin into…
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Americas
Magellan to build Pasedena product terminal
Magellan Midstream Partners will construct a new high-capacity marine terminal along the Houston Ship Channel in Pasadena, Texas to handle…
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Asia
Hubline fund raiser for vessel acquisitions
Malaysia’s Hubline is pushing ahead with a notes issue to raise up to RM200m ($50m). The money will be used…
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Containers
Disgruntled former CSCL customers leaving China Cosco Shipping in their droves
Disgruntled shippers are leaving in their droves from the company that used to be known as China Shipping Container Lines…
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Europe
Aker blocks Rem Offshore’s restructuring plans
Rem Offshore’s restructuring plans have been derailed. Aker Capital turns out to have been the major bondholder who decided to…
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Asia
Up to 37,500 East Asians dying prematurely a year from ship pollution
Expect other nations in East Asia to follow China’s lead in creating emission control areas (ECAs) following the release of…
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Asia
Abu Sayyaf linked with missing tugboat crew off Sabah
Another tugboat appears to have fallen prey to Abu Sayyaf terrorists with its crew taken hostage. Fishermen off Sabah in…
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Europe
BW Offshore rights issue 34% oversubscribed
BW Offshore’s rights issue in Oslo was 34% oversubscribed with 11.5bn subscriptions for new common shares. The rights issue closed…
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Containers
Hapag-Lloyd and UASC sign merger agreement
Hapag-Lloyd and United Arab Shipping Company (UASC) have concluded a business combination agreement to merge creating a fleet of 237…
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Europe
Stolt-Nielsen pays $575m to take over Jo Tankers’ chemical fleet
Stolt-Nielsen has agreed to acquire the chemical tanker operations of Jo Tankers for $575m. The transaction comprises 13 chemical tankers…
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Asia
KDB seeks new CEO for HMM, might appoint a foreigner for the first time
In its 40th year of existence Hyundai Merchant Marine will sever ties with Hyundai Group on August 5 and belong…
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Finance and Insurance
Bahri gets financing fixed for another 15 VLCCs
National Shipping Company of Saudi Arabia (Bahri) has teamed up with Arab Petroleum Investments Corp (APICORP) to launch a $1.5bn…
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Asia
Indian yard workers go on hunger strike
Around 350 workers of Western India Shipyard have gone on hunger strike protesting parent firm ABG Shipyard’s failure to pay…
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Asia
NYK pleads guilty to car carrier cartel charges
Japan’s Nippon Yusen Kaisha has pleaded guilty to criminal cartel behavior at Australia’s federal court. On Friday, Splash reported the…
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Asia
Shoei Kisen offloads supramax for $7.7m
Japan’s Shoei Kisen Kaisha has sold a 10-year-old Imabari-built supramax to Bangladeshi interests for $7.7m. Meghna Group, a diverse conglomerate…
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Containers
Hapag-Lloyd cuts financial outlook
German containerline Hapag-Lloyd has revised downwards its predictions for the current financial year citing “weaker than expected” freight rates. In…
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Dry Cargo
Celsius snaps up ultramax resale
Clarksons Research reports China’s Zhejiang Yangfan shipyard has sold a SDARI 64 design ultramax resale (Hull BC64k-DM02), for prompt delivery,…
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Europe
Bosphorus reopens after Turkey coup attempt
Turkish maritime authorities reopened Istanbul’s Bosphorus Strait yesterday having shut it for a number of hours following an attempted coup…
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Containers
Cocaine ship allowed to leave Italy
Mediterranean Shipping Company (MSC) has responded to news that an Italian captain onboard its vessel, , has been arrested in…
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Asia
ICTSI signs Australian loan facility for new Melbourne terminal
Describing it as “an early victory for one of ICTSI’s most anticipated container terminal projects,” the Philippine terminal operator today…
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