Eizo Murakami heads 'K' Line

Rumours that Kawasaki Kisen Kaisha (‘K’ Line) would file for bankruptcy in mid-October apparently stem from the collapse this month of a Japanese company with a similar name.

Visakhapatnam port is planning to significantly upgrade its oil-handling facilities for an expected surge in Indian demand for oil and oil products.

Maersk Group will be reorganised into two separate divisions

Maersk Group will be split into two separate divisions – transport and logistics, and energy.

The transport of bauxite, the principal ore used to produce aluminium, is boosting Panamax and Supramax bulker demand following a shift in Chinese sourcing toward the Atlantic Basin.

Hanjin Shipping crews worried about running out of essential supplies in the wake of the box carrier’s bankruptcy crisis has prompted action from a major international seafarer advocacy group.

EU funded port projects inefficient, report stated

The European Court of Auditors (ECA) has issued a scathing report on EU investment in port infrastructure projects, branding a third of EU spending in 2000-13 as “ineffective and unsustainable”.

IUMI president Dieter Berg

Rising global accumulations threaten to overwhelm the global insurance sector, according to the president of the International Union of Marine Insurance (IUMI).

C-Job’s FF4500 Flettner Freighter concept

Dutch shipping family Switijnk is planning to order an 8,000dwt general cargo vessel incorporating wind-assisted propulsion. It has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design for a specific loading and sailing profile.

A Farstad vessel

The Norwegian maritime community’s continuing trauma from the oil price collapse is nowhere more acute than in the Sunnmore region on its west coast, home to most of its offshore services vessel (OSV) companies and the shipyards that build this tonnage.

Asia-Europe container lines could be in their best position for years when contract talks start later this year.

At the behest of the Seoul Central District Court, the Korea Development Bank will give STX Offshore & Shipbuilding KRW60 billion (USD54.3 million) in debtor-in-possession financing.

Hanjin Shipping’s ships are making headway towards having containers offloaded in Singapore.

German investment manager MPC Capital on Thursday announced that it has closed the sale of eight 8,500 teu vessels for USD398 million to an Asian investor consortium, backed by the ships’ charterer, Maersk Line.