Hafnia Tankers Ltd have entered into an agreement to acquire 4 LR1 product tankers.This acquisition confirms the commitment of Hafnia Tankers and its stakeholders to further expand the business within the product tanker segment.The vessels are: Kihada – to be renamed Hafnia Africa…
The New Zealand Shipping Federation (NZSF) said it has appointed Annabel Young as its new executive director. It said Ms Young was a National Party list MP from 1997 to 2002 and since then she has been the chief executive at Federated Farmers…
Will the new government in Greece led by radical-left party Syriza levy higher taxes that the shipping industry can’t afford? A report in WSJ says that several owners in Greece’s important shipping sector are worried about this. Some owners…
Bollinger Shipyards President and CEO Ben Bordelon announced today another key internal promotion designed to enhance the strategic value of the Company. “I am pleased to announce the promotion of Chris Remont to Vice President and General Manager of our Lockport New Construction division (BLN)…
In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers. JSEA member yards secured 24 export orders totaling 1,215,100gt in December…
Some of the world’s largest oil traders are reportedly hiring supertankers in a possible attempt to stockpile oil supplies following the plunge in world prices. Trading firms including Vitol, Trafigura and energy major Shell have all booked crude tankers for up to 12 months…
Adams and Reese Adds Four to Bolster Federal Governmental Relations Practice.Adams and Reese is proud to announce the addition of Partner Matt Paxton and Governmental Affairs Advisors Joe Carnevale, Ian Bennitt and Ashley Godwin, who join…
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co. BOURBON has completed the transfer of ownership under the agreements…
BIMCO announced its intention to develop a standard term sheet to assist the shipping industry in the creation of ship financing documentation. The aim of developing this document would be to offer lenders and borrowers a comprehensive…
Diana Containerships Inc. (NASDAQ: DCIX), said that on November 5, 2014, it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to purchase from an unaffiliated third party a 2005-built Post-Panamax container vessel of approximately 5…
A new recruitment business catering for the specialist recruitment needs in the shipping, maritime, logistics and oil and gas sectors has been launched in Singapore.Headed up by Managing Director Jason Tay, Direct Search Asia will seek to…
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders…
Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended September 30, 2014. Highlights for the Third Quarter and Nine Months Ended September 30, 2014:* Operating revenues of $139…
ITIC has recommended that brokers place a post-fixture clause at the end of recap messages to reduce the chances of exposure to severe financial loss as a result of important messages being overlooked. The following wording was endorsed…
Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.Jensen, who was elected to the Frontline board last month…
