News

Epic Gas Adds Final LPG Newbuilding

Singapore-based owner and operator of pressurized gas carriers Epic Gas has taken delivery of the 11,000 cbm LPG carrier Epic Salina. The final vessel in a series of eight pressurised LPG newbuildings, constructed by Japanese shipbuilder Kyokuyo Shipyard, joined Epic Gas’ fleet on March 29. In January 2017, the company took delivery of the seventh newbuilding […]

Full Article: Epic Gas Adds Final LPG Newbuilding

Source: World Maritime News

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DryShips Agrees to Buy Newcastlemax Quartet

Athens-based owner of drybulk carriers DryShips Inc. has entered into agreements to purchase four modern Newcastlemax bulk carriers for a total of USD 124 million. Under the deal, entered into with unaffiliated third parties, the company said that the vessels are scheduled to join DryShips’ fleet before the end of June 2017. Two of the Newcastlemax bulkers will […]

Full Article: DryShips Agrees to Buy Newcastlemax Quartet

Source: World Maritime News

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CMA CGM, PSA Singapore Start 2nd Phase of Box Terminal JV

French container shipping company CMA CGM and PSA Singapore, a subsidiary of PSA International, launched the second phase of their container terminal joint venture in Singapore on March 27. The CMA CGM – PSA Lion Terminal (CPLT) started operations with two mega container berths at PSA Singapore’s Pasir Panjang Terminal 5 (PPT 5) that had an initial […]

Full Article: CMA CGM, PSA Singapore Start 2nd Phase of Box Terminal JV

Source: World Maritime News

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Report: DSME Workers Ready to Accept Wage Cuts, Propose Talks

Labor union of the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is ready to accept proposed wage cuts for workers, proposing talks with the government, the company’s management and creditors, which are aimed at finding a way to save the financially troubled shipbuilder, Yonhap News Agency reports.  The announcement comes a day after DSME’s […]

Full Article: Report: DSME Workers Ready to Accept Wage Cuts, Propose Talks

Source: World Maritime News

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Somali Pirates Hijack Another Vessel, Use It as Mothership?

The Somali pirates have hijacked another vessel off the coast of Somalia, a representative from Oceans Beyond Piracy confirmed to World Maritime News. OBP said that the ship, which is yet to be identified, was hijacked in the vicinity of Eyl, Somalia. “We are still finding more details, but it appears that it is being used as […]

Full Article: Somali Pirates Hijack Another Vessel, Use It as Mothership?

Source: World Maritime News

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BW LPG Inks Refinancing for Six Ex-Aurora Ships

Singapore’s gas carrier owner BW LPG Limited has signed a debt facility agreement of USD 290 million for the refinancing of six 2016 built ex-Aurora ships. With this move, the ex-Aurora fleet is fully refinanced “at similar competitive terms and structure as the rest of the BW LPG fleet,” according to the company. “This financing exemplifies […]

Full Article: BW LPG Inks Refinancing for Six Ex-Aurora Ships

Source: World Maritime News

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Market Conditions Affect Wilh. Wilhelmsen Holding’s Earnings

A slowdown in global trade, weak commodity prices and a strong USD continued to negatively affect Norwegian rolling cargo shipping specialist Wilh. Wilhelmsen Holding group’s (WWH) total income. Although the company’s operating profit for the full year 2016 increased to USD 327 million from USD 122 million seen in 2015, Wilh. Wilhelmsen Holding’s operating revenue for the period […]

Full Article: Market Conditions Affect Wilh. Wilhelmsen Holding’s Earnings

Source: World Maritime News

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UK Turns to China to Boost Maritime Ties ahead of Brexit

The UK is steering its way to China to foster maritime ties ahead of the looming triggering of Article 50 which will lead to the break up of its unity with the European Union. The split-up will require the UK to establish new trade relations as those made through the EU would not be valid any more […]

Full Article: UK Turns to China to Boost Maritime Ties ahead of Brexit

Source: World Maritime News

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Navios Maritime Closes USD 100 Mn Offering

Greek owner and operator of container and dry bulk vessels Navios Maritime Partners has closed its common units offering raising around USD 100 million of fresh funds. The company said that the net proceeds of the 47,795,000 common units offering, placed at USD 2.10 per common unit, would be used for general working capital purposes, […]

Full Article: Navios Maritime Closes USD 100 Mn Offering

Source: World Maritime News

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