HMM Selected as Preferred Bidder for Hanjin’s Spain Terminal

                                                                       South Korean shipping giant Hyundai Merchant Marine (HMM) has been selected as the preferred bidder for a terminal in Algeciras, […]

Posted by: on Nov 28, 2016 read more

Fourth Newbuilding Joins Navig8 Chemical Tankers

Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, has taken delivery of its fourth 49,000 dwt chemical tanker from South Korean shipbuilder STX Offshore & Shipbuilding. Navig8 Tanzanite is the final 49,000 dwt IMO2 Interline-coated tanker in the company’s newbuilding program, as well as the eighth and final vessel to be delivered […]

Posted by: on Nov 28, 2016 read more

Concordia Maritime Refinances P-MAX Tanker Fleet

Swedish tanker shipping company Concordia Maritime has signed two separate agreements to refinance its ten P-MAX ships. The total refinancing amount is USD 189 million and after financing costs the net amount is in line with outstanding debt from the existing facility, which was set to expire in June 2017. According to the company, the first […]

Posted by: on Nov 24, 2016 read more

LPG Carrier Quartet Postponed at Hyundai Mipo

Ulsan-based shipbuilder Hyundai Mipo Dockyard has agreed to push the deliveries of four liquefied petroleum gas (LPG) carriers, the company said in a stock exchange filing. The delivery of two LPG carriers, which were scheduled to join their owner in late March 2017, was pushed by four months. The newbuildings are now expected to be delivered […]

Posted by: on Nov 24, 2016 read more

All Set for Ice Breaking Operations in Bay of Green Bay

In January 2017 the U.S. Coast Guard will commence ice breaking operations in the bay of Green Bay to ensure the safe navigation and overall safe transport of economically-significant commercial shipments. In support of the Port of Green Bay, the Coast Guard will establish and maintain tracks through the ice from Rock Island Passage to the […]

Posted by: on Nov 20, 2016 read more

DSME Set for Financial Boost as Union Okays Restructuring

The labor union of South Korea’s financially troubled shipbuilder Daewoo Shipbuilding & Marine Engineering has agreed to the company’s restructuring plan, removing the final hurdle to the KRW 2.8 trillion (USD 2.3 billion) financial support, according to Yonhap News Agency. After it earlier converted around KRW 400 billion worth of loans into DSME’s stocks, the state-run […]

Posted by: on Nov 19, 2016 read more

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