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Americas
$7,500 per day fines for failure to comply with USCG’s drug test program
The US Coast Guard (USCG) has reminded shipowners and operators that they must have a valid random drug test program…
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Europe
Piraeus port deal hits a snag
China Cosco Shipping has claimed the Piraeus port sale submitted to parliament in Athens is not the same as what…
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Dry Cargo
Star Bulk gets extra breathing space from banks
Embattled Star Bulk has won a two-month extra standstill agreement from its banks. The line, which has offloaded nine ships…
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Asia
HMM to meet shippers next month
In July Hyundai Merchant Marine (HMM) will kick off a series of meetings with its clients around the world designed…
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Containers
EU reportedly set to drop carrier antitrust probe
Fifteen of the world’s leading container carriers are expected to dodge stiff fines as EU antitrust regulators drop a five-year…
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Asia
Japanese investors unimpressed with heads of major shipping lines
Investors are losing confidence in the leadership of the nation’s top shipping lines, which are struggling to make profits in…
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Europe
EC probes Naples port over contravention of state aid rules
The European Commission (EC) has opened an in-depth investigation questioning whether the Italian government propped up the Port Authority of…
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Americas
First LNG carrier booked to transit wider Panama Canal next month
The Panama Canal Authority has booked its first LNG tanker through the expanded Panama Canal, something that could be the…
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Americas
American Club’s Joe Hughes takes the reins at NAMEPA
The co-founder and executive director of NAMEPA (North American Marine Environment Protection Association), Carleen Lyden-Kluss, has announced that effective July…
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Asia
Arrest beckons for former DSME boss as fraud investigation hots up
A former ceo of Daewoo Shipbuilding & Marine Engineering (DSME) was taken into custody today over the yard’s huge accounting…
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Europe
Total strips Maersk Oil of its rights to Qatar’s largest oil field
Maersk Oil is beating a retreat from Qatar. The Danish firm has lost out in a bid to extend its…
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Asia
CMA CGM ready to delist NOL
CMA CGM has crossed the 90% ownership threshold in Singapore’s Neptune Orient Lines (NOL), the parent of boxline APL. Following…
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Asia
HMM granted extra time to get its finances in order
Struggling Hyundai Merchant Marine (HMM) has been handed another month’s breathing space by creditors to get its financial footing safely…
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Asia
South Korea rushes through stimulus package to help struggling shipbuilders
President Park Geun-hye today urged local politicians to ratify a stimulus package worth KRW20trn ($17bn), including KRW10trn in extra budget,…
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Gas
Egypt seeks a third FSRU
Egyptian Natural Gas Holdings (EGAS) will launch a global tender this week to charter for five years a third FSRU…
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Africa
Moroccan port operator lists
The Moroccan government has raised $197m by selling a 40% stake in state-owned port operator Marsa Maroc. Marsa Maroc was…
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Dry Cargo
China Cosco Shipping sends bulker pair into Klaveness pool
The world’s largest shipping company has thrown a couple of ships into the Baumarine pool. China Cosco Shipping has decided…
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Europe
Maritime London boss admits Brexit has brought instability and uncertainty
Doug Barrow, the chief executive of promotional and lobbying group Maritime London, has admitted to Splash the Brexit result last…
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Asia
Bankruptcy looms over DSME
A September bankruptcy hangs over embattled giant Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) unless it can raise KRW1trn…
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Asia
KDB hatches plan to keep Hanjin Shipping solvent
The Korea Development Bank (KDB) is in discussions with Hanjin Group to eek out a financial plan to give Hanjin…
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