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Americas
International Shipholding Corporation files for Chapter 11
The American shipowner International Shipholding Corporation has filed for relief under Chapter 11 at a court in New York. The…
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Asia
Swiber unable to make coupon payment
Swiber Holdings said today, via its provisional liquidator, it cannot pay the upcoming coupon payment for the S$150m 6.5% certificates…
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Europe
Depressed VLGC owners are ‘running out of ideas’
VLGC owners are “running out of ideas” about how best to cope with the current depressed market, Clarksons Research details…
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Asia
AC Oil banned from selling bunkers in Singapore
Another bunker supplier, AC Oil, has had its licence revoked by the Maritime and Port Authority of Singapore (MPA). “MPA’s…
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Dry Cargo
Golden Union paying $32.5m for brand new cape
Brokers are linking Greece’s Golden Union with a $32.5m raid for a brand new 180,000 Chinese-built capesize. Golden Union is…
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Asia
James Fisher buys Singaporean diving specialist
British marine engineering outfit James Fisher has bought Singaporean firms Lexmar Engineering and Lexmar Sat Systems. The initial consideration is…
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Middle East
Libyan oil terminals set to reopen
Libya is finally set to recommence oil exports from long shuttered key terminals in the east of the war-torn country.…
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Containers
Feeders in the spotlight as global boxship fleet surpasses 20m teu
This week containership fleet capacity has passed the 20m teu mark, which Clarksons Research described as “another milestone in the…
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Asia
Indonesian chief engineer suffers 80% burns following engine room fire
The chief engineer of an Indonesian general cargo vessel is in a critical condition in hospital following a fire in…
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Asia
Benita sinks off Mauritius
Five Oceans Salvage report that the bulk carrier, which was under tow en route from Mauritius to India, sunk yesterday…
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Americas
Panama Canal spat continues
The Panama Canal Authority has disputed widespread reports that three ships have run into difficulties while transiting the expanded waterway…
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Operations
Crew kidnapping on the rise in Gulf of Guinea
In contrast to the substantial numbers of reported incidents across Southeast Asia and the Indian Ocean in recent years, maritime…
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Europe
Shipping must adopt more transparent corporate governance: Moore Stephens
The shipping industry must adopt a transparent, proactive approach to corporate governance or else risk exposure to business and reputational…
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Americas
‘Improvisation and lack of preparation’ are causing accidents along the new Panama Canal
The Panama Canal Authority has come in for stinging criticism for its failure to properly prepare for the opening of…
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Asia
NYK, MOL and K Line all revise downwards full year forecasts
Japan’s so called Big Three shipping lines have all revised downwards their full year forecasts today reflecting the continued dire…
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Asia
Ezra Holdings not concerned by Swiber liquidation despite investor jitters
Investors in Singapore remained wary of offshore stocks today following Thursday’s shock news that Swiber Holdings had become the first…
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Europe
Gas leak halts production on FPSO Alvheim
The FPSO is back operating normally today following a gas leak on Thursday morning. The Det norske operated FPSO suffered…
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Gas
LNG market needs more vessels than currently on order: Drewry
Despite the current weakness in LNG shipping rates, consultants Drewry maintains its bullish long-term outlook for LNG shipping and believes…
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Greater China
Peter Levesque to replace Sean Kelly at Modern Terminals
Modern Terminals, Hong Kong’s oldest container terminal operator, today announced that Peter Levesque, the company’s current coo will succeed Sean…
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Europe
REM and Solstad to merge
Kjell Inge Røkke has won his latest battle to steer further consolidation in Norway’s OSV scene. The Aker boss took…
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