DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company expects to use the net proceeds of the offering to refinance, in part, the…
The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry accounts for around 1/3 of the Chinese economy and is a relevant indicator to watch out for in the shipping industry…
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having…
Port Metro Vancouver issued an announcement welcoming news of the signing of the Canada-Korea Free Trade Agreement yesterday in Ottawa. The agreement will significantly boost Canada’s trade with South Korea, as well as provide strategic access…
Fednav, a Canadian-owned company and world leader in Arctic navigation, today announced that its vessel, the MV Nunavik sailed from Deception Bay en route to China via Canada's Northwest Passage, with a full cargo of nickel concentrate. The…
Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. They are, however…
NewLead Holdings Ltd.announced today that the 'Newlead Castellano', a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014.The Newlead Castellano is trading on the spot market and is expected to generate approximately $1…
The first unique LNG powered ship that Ferus Smit has on order for Erik Thun A.B. will be built and equipped as a dedicated cement carrier. The ship will be delivered to the joint venture JT cement, in which Erik Thun AB cooperates with KG Jebsen Cement from Norway…
Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.The size of the offering has been further increased from the…
The slowdown in Chinese industrial production growth ads to the existing concerns that China is going through challenging times, as Beijing aims for a soft landing and a transition of the economy, BIMCO reported, adding that the demand for dry…
The increasing use of LNG as a marine fuel is further emphasized with the latest order for Wärtsilä's dual-fuel engine technology. A new cement carrier being built at the Scheepswerf Ferus Smit yard in the Netherlands will feature a six-cylinder Wärtsilä 34DF main engine…
Class Society Joins Joint R&D Project for Bulk Carrier Safety with Germany’s HSVA and other European Research InstitutionsClassification society ClassNK announced that it will join a new European Joint R&D project to ensure bulk carrier safety…
Sen. Landrieu Announces $10m for Port of Lake Charles Terminal ExpansionU.S. Senator Mary L. Landrieu, D-La., a Senior member of the Senate Appropriations Committee, today announced a $10 million grant for the Port of Lake Charles through…
WGMA says Lyngso’s retirement effective October 1, 2014. Born and raised in Denmark and finishing his shipping education including maritime law studies in 1972, Niels Lyngso has been a longtime stalwart for WGMA. Arriving in the United States in 1972 as a management trainee for Olsen & Ugelstad…
The Port of New Orleans has signed on as a sponsor for the 9th annual Oilseed & Grain Trade Summit, taking place here October 7-9, 2014, at the Hyatt Regency New Orleans. The Summit is reportedly the largest annual industry event that convenes buyers…