May 21st, 20190Mercator, once India’s third largest shipping line, has hit severe financial difficulties with local newspaper, Hindu Business Line, reporting the company has not paid its 350 crew for the past two months. The Mumbai owner - led by HK Mittal - has enormous debts and has been racking up sizeable losses in recent years. Today, it is...
May 7th, 20190Malaysia's Bumi Armada has announced that its Indian joint venture company Shapoorji Pallonji Bumi Armada Godavari (SPBAG) has been awarded a contract by India's state-owned oil company Oil and Natural Gas Corporation Limited (ONGC). The contract is for the charter and operations of an FPSO for a period of nine years, to be used at...
May 6th, 20190Indian conglomerate Adani Group has won a 50-year concession to develop an 800,000 teu a year box terminal in the southwest of Yangon. Ahlone International Port Terminal (2) (AIPT) will be situated 50 km up the Yangon river from the Andaman Sea where the depths are 9 m quayside allowing ships of up to 1,500 teu to call. The $290m...
May 1st, 20190India’s Mercator has confirmed the sale of 2006-built VLCC for $27.5m, nearly five months after it was initially reported as sold to Greece’s NGM Energy. The Chinese-built Nerissa achieved fame when it was sold to Mercator in 2008 by Nobu Su’s TMT for $170m, one of the highest prices ever paid for a VLCC. The vessel was...
April 30th, 20191One of the most famous names in Hamburg shipping has been dragged into the court proceedings surrounding the demise of Daniel Chopra’s Elektrans Shipping in Mumbai. Splash reported yesterday that insolvency proceedings are now underway in Mumbai over the fallen tanker player. It has emerged that at the same time a criminal case...
April 29th, 20190Creditors have until May 7 to submit claims as Daniel Chopra’s Elektrans Shipping has finally been declared insolvent. Insolvency proceedings against the Indian owner started earlier this month with the process estimated to be concluded by October 20. The tanker player’s downfall has been a long time coming with multiple...
April 28th, 20190A port worker died on Saturday when a fire broke out on the mobile harbour crane he was operating caught fire at the Indian port of Haldia, Kolkata. The crane was operating at berth 13 unloading coal from 2010-built bulk carrier on Saturday morning around 8:30am when the fire broke out. The crane operator was initially stuck on...
April 22nd, 20194Indian offshore service provider Tag Offshore is believed to have abandoned its 1991-built MR tanker along with its 17 crew. According to Indian local media, the ship has been anchored off Jawaharlal Nehru Port for more than 40 days. Tag Offshore is accused of not paying fuel bills to suppliers and salaries to the crew. Earlier...
April 17th, 20190Japan’s Mitsui OSK Lines (MOL) has taken its Indian energy shipping aspirations to the next level by investing in six very large ethane carriers it had been operating for on behalf of Reliance. MOL has come onboard in a deal that will split ownership of the ships 50:50 with Reliance, one of India’s largest conglomerates led by...
April 11th, 20190Arun Sharma, executive chairman the Indian Register of Shipping (IRClass), intends to pack as much into his one-year tenure as chair of the International Association of Classification Societies (IACS) as possible. He is set to take over the position in July and has a raft of plans readied, which he shares today with Maritime CEO. IACS...
