January 21st, 20200Oceanteam and Bourbon, the joint owners of CSVs Bourbon Oceanteam 101 and CSV Southern Ocean, have deferred the January instalments on the two vessels to increase cashflow in order to facilitate maintenance activities. The deferment is allowed under the loan facility agreements attached to the vessels, at no additional cost. The loan...
January 17th, 20200French container line CMA CGM has created a business matchmaking offering for its clients. The new Networking Intermediation Services gives customers a chance to expand their activity worldwide, to create new business opportunities and to find the suppliers or customers that best meet their needs. A dedicated team based at the...
January 9th, 20200French geoscience technology company CGG has announced that it has completed an exit from the marine acquisition business, closing a deal with Shearwater GeoServices to transfer its vessel assets. CGG and Shearwater signed a binding term sheet in June, which sees Shearwater took over five high-end seismic vessels jointly owned by CGG...
December 26th, 20190A court in Marseille has ruled that a group of French banks will take over the assets of the once mighty OSV operator, Bourbon Corporation. The company has been in a protracted court restructuring for many months. As of January 2, the firm’s assets will be transferred to a group of creditor banks comprising BNP Paribas, Caisse...
December 23rd, 20190French shipping group CMA CGM has sealed an agreement with China Merchants Port Holdings to sell a portfolio of stakes in ten port terminals to Terminal Link, their joint venture 51 percent owned by CMA CGM and 49 percent by China Merchants Port. The $968m deal is part of CMA CGM's efforts to finance the acquisition of Swiss logistics...
December 16th, 20193French container shipping conglomerate CMA CGM has entered into a partnership with Shell to supply tens of thousand of tons of marine biofuel to its fleet. The deal follows CMA CGM becoming the first shipowner in the world to complete a trial of using marine biofuel onboard its containerships CMA CGM White Shark and CMA CGM Alexander...
December 10th, 20191The port of Antwerp is operating minus a gantry shore crane after yet another boxship collision. In squally conditions, the 9,200 teu broke its mooring yesterday afternoon and slammed into a crane at DP World’s Antwerp Gateway terminal. No one was in the crane at the time, which collapsed and forced a complete closure of the...
November 29th, 20191Don’t expect executives from Louis Dreyfus Company (LDC) to wine and dine you anytime soon. France’s top agricultural commodities conglomerate has initiated sweeping cost-cutting measures, issuing an internal memo earlier this week, seen by Reuters, to slash spending on travel, entertainment, hiring and salaries. LDC has also...
November 28th, 20190Marine biofuels have been hailed by one of Sweden's largest shippers as an "important part of the puzzle going forward" following landmark trials across the world this year. IKEA Transport & Logistics Services, CMA CGM, and the GoodShipping Program have successfully completed a biofuel test programme on the French line’s...
November 28th, 20190CSV , which is jointly owned by Bourbon and Oceanteam, has been awarded two charters on offshore projects off India. Work on the first short-term contract have commenced this month, while the second longer-term contract is scheduled to commence in December 2019. The contracts are expected to run through to the first quarter of 2020,...
