The first quarter of this year was the second worst quarter on record for marine syndicated loans, according to data from Dealogic.
Maersk said that the acquisition will be on a cash and debt-free basis which confirms earlier assumptions that Hamburg Süd’s owners, German food dynasty Oetker, have largely financed the whole liner shipping operation with their own equity and without commercial debt.
Losses of 2016 to be replaced by a profitable 2017, is the prediction of Japan's three major shipping lines.
COSCO's liner shipping division saw a significant increase in both container volume and revenue in a profitable first quarter.
There were 12,207 safety of navigation-related deficiencies and 10,981 deficiencies related to life-saving appliances. Together with the fire safety deficiencies, these represented nearly 50% of the total number of all recorded deficiencies.
Seadrill is released from financial guarantees worth USD253 million to Archer's lenders in exchange for a cash payment of USD25 million.
Singapore has launched its first LNG bunkering standard after introducing an LNG bunkering pilot programme early this year.
Intensive cost-cutting, as well as the completion of major projects such as floating central processing facility for the Ichthys LNG project, resulted in the significant improvement in SHI’s earnings.
Japan's Tsuneishi Holdings Corporation announces plans to secure 50 ship orders this year, diversifying its offerings to include container ships and tankers.
Angeliki Frangou’s Navios Maritime Holdings has emerged as a white knight for First Ship Lease Trust after acquiring a 24.23% for USD20 million.
The Maritime and Port Authority of Singapore (MPA) signed six memorandums of understanding this week, championing the use of technology in the maritime sector.
South Korean shipbuilder STX Offshore & Shipbuilding has won orders to build products tankers, marking the shipbuilder’s first order in 17 months since going into receivership.
Yangzijiang Holdings' shipbuilding business has seen a sharp increase in the first three months of 2017.