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Brokerage sale a boost for Hyundai Merchant Marine
In good news for struggling Hyundai Merchant Marine (HMM), it looks like a sister company will be sold to raise…
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Tanker arrested in Libya, accused of smuggling fuel
An elderly bunkering tanker was arrested and held by the Libyan Coast Guard on Saturday, suspected of smuggling fuel. 12…
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Irish vessel apprehended over military shipment bound for Yemen
An Irish research vessel, flagged with the Marshall Islands, has been apprehended by Arab Coalition forces. The , en route…
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Vinalines to offload 13 ships this year
State-run Vietnam National Shipping Lines (Vinalines) has earmarked 13 ships, totalling 400,000 dwt, for disposal this year. The company said…
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State-run bank takes over India’s Karaikal port
State-run Indian Bank has taken control of the port of Karaikal after Marg, its developer, failed to pay back loans.…
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Ausgroup head leaves after just nine month in the role
SGX-listed Australian oil & gas construction, maintenance and fabrication firm AusGroup, has announced that Gerard Hutchinson has resigned from his…
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APL Vanda latest mega containership to run aground
NOL’s 14,000 teu containership has run aground at Bramble Bank, off Cowes, while headed to Southampton from France’s Le Havre…
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Pacific NorthWest LNG terminal passes environmental test
Supporters of the Pacific NorthWest liquefied natural gas (LNG) terminal project in British Columbia were encouraged by a report from…
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Paragon Offshore set to declare Chapter 11 bankruptcy
Heavily indebted rig operator Paragon Offshore will file for Chapter 11 bankruptcy this weekend. The Houston-based company announced it has…
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Shipbreaking NGOs blast ‘hypocritical’ Maersk
Campaigners NGO Shipbreaking Platform and Transport and Environment (T&E) have criticised the Maersk Group’s plans to demolish its old vessels…
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Havila Shipping adjusts restructuring offer
Oslo-listed Havila Shipping has revised the terms of its restructuring agreement made a new offer to repurchase its securities from…
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Cryo Gas Med LPG carrier pair sold at auction
Two ships previously owned by Genoa-based Cryo Gas Med shipping company has just been sold at auction. Shipbroking sources tell Splash…
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Panamaxes help Baltic Dry Index end its record-breaking rout
The Baltic Dry Index (BDI) today advanced by 1 point to reach 291 points, the first time the index has…
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Premier and Rockhopper cancel Falklands contract with Ocean Rig
Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, on Thursday cancelled…
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Lockton takes over Italian P&I broker specialist PL Ferrari
US-headquartered Lockton, the world’s largest privately owned global insurance broker, has officially announced the takeover of PL Ferrari & Co,…
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JES sells its shipbuilding business in distressed debt deal
JES International Holdings has sold its shipbuilding business to distressed debt investor Hong Kong Victo International Limited for a cash…
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Polarcus vessel gets bareboat charter extension in Russia
SCF Sakhalin Supply has extended its bareboat charter of Polarcus’ seismic survey vessel Vyacheslav Tikhonov by a further three years.…
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Blackstone forms PE platform to take advantage of offshore crisis
Investment firm Blackstone has announced the formation of Clarion Offshore Partners, a platform to provide strategic solutions to the offshore…
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Black day on the Nikkei sees Japan’s big three down more than a third in 2016
Stocks took another pummeling in Tokyo today, with once again shipping firms suffering the brunt of the bears. The Nikkei…
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CSCL Indian Ocean grounding must serve as a wake-up call
The recent grounding of the 19,000 teu container vessel was close to being a real catastrophe. But the experienced pilot…
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