Following its recent court defeat in New York, John Fredriksen-led Frontline has doggedly renewed its unsolicited bid for NYSE-listed tanker company DHT Holdings.
Increasing alliance deployment of ULCCs is ultimately likely to prove positive for transhipment hubs, says Gerry Yim.
South Korean banks agree to extend refund guarantees for vessels DSME wins to ensure security of new orders under the new second bailout package.
Brazilian iron ore giant Vale, has disputed talks that it is ordering more ore carrier newbuildings following the loss of Stellar Daisy last month.
The drop in demolition prices has led to a stalemate in the market as shipowners are holding out in search for the USD400 per ldt mark, pointing to more evidence on the weakening steel market in the Indian sub-continent.
An explosion on the dry bulk carrier Tamar while it crossed the Atlantic has killed two and injured three, the US Coast Guard reported on 25 April.
The extension of the bareboat charter is a welcome development for FSL Trust, which has grappled with the recent loss of senior management members and concerns over its financial health.
A high pace of demolition sales has helped to increase demand and the outlook remains encouraging.
Dry bulk shipping continues to puzzle its way through the paradox that improving market sentiment can be bad for business.
Debt-laden offshore oilfield service group Ezra Holdings, which files for US bankruptcy last month, has failed to make interest payment due on 24 April as the company is not permitted to make payments to unsecured creditors pursuant to the Chapter 11 filing.
Singapore, Denmark, and Norway are co-operating to promote the use of electronic shipping certificates, aimed at encouraging digitalisation for greater efficiencies across the industry.
SM Line Corporation, which has taken over the trans-Pacific operations of now defunct Hanjin Shipping, orders eco-friendly containers from Chinese container manufacturer CIMC as the company aims to stabilize its business.
Polaris Shipping, the world’s largest owner of very large ore carriers executes a USD26.5 million bond issue, which will mature in a year to raise working capital.