The tragic near-sinking of the Costa Concordia in Italy has the world’s attention riveted on the safety of cruising, the condition of cruise ships, and the training and experience of cruise captains. That’s just the way things work: tragedy focuses attention and perhaps reform…
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, entered into new period charter agreements for yet another two of its vessels…
Greek-based containership owner Danaos Corporation (NYSE: DAC) reported unaudited results for the quarter and full year ended December 31, 2011. Highlights for the Fourth Quarter and Full Year Ended December 31, 2011:- Operating revenues of $128…
NOL Group today reported a $478 mnet loss in 2011 following net earnings of $461m in 2010. The container shipping and logistics company said unsettled economic conditions, high fuel costs and lower freight rates impacted results. In assessing the market going forward…
International accountant and shipping adviser Moore Stephens has called for stability for European tonnage tax regimes now that the EC has begun its review of EU State Aid Guidelines to Maritime Transport. The start of the EC’s review of…
Horizon Lines Sets Date for Annual Meeting of Stockholders. Horizon Lines, Inc. (OTCQB: HRZL) today announced that it has established a record date for its 2012 annual meeting of stockholders. The company's stockholders of record at the close of business on April 9…
“Hapag-Lloyd, the management and all the employees are delighted with the solution and are pleased that this agreement was reached so fast”, Michael Behrendt, Chief Executive Officer of Hapag-Lloyd AG, said following the announcement that an…
Northrop Grumman Corporation elected retired U.S. Navy Admiral Gary Roughead to its board of directors. Roughead served as the 29th Chief of Naval Operations for the Navy prior to his retirement from the service in 2011. The addition of Roughead…
The International Energy Agency<http://www.iea.org/> (IEA) will undertake a comprehensive analytical study of Iraq as part of the 2012 edition of its flagship publication, the World Energy Outlook (WEO).'Iraq's energy sector is both central…
On February 1, COSCO Shipping Co., Ltd. signed a POOL agreement with Guangzhou Salvage Bureau of the Ministry of Transport (GSBMT) in Guangzhou Ocean Plaza. According to the agreement, M.V. Hua Hai Long, the 30,000 DWT semi-submersible vessel of GSBMT…
FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust reportes that it has sent notices to its lessees, wholly-owned subsidiaries of PT Berlian Laju Tanker Tbk, to demand for the redelivery of its three chemical tankers…
The Carrier Car industry has emerged from the global recession with what looks like limited damage compared with the head-on collision others experienced. Drewry believes that this sector, with its small orderbook, is better positioned than most others in the shipping industry…
Teekay Tankers Ltd. (NYSE:TNK) announced today that it plans to offer 15,000,000 shares of Class A common stock of the Company in a public offering. Teekay Tankers expects to grant the underwriters a 30-day option to purchase up to an additional 2…
Vigor today announced its plan to acquire Alaska Ship and Drydock Inc. (ASD), further consolidating the business of ship repair on the U.S. West Coast. ASD intends to transition its business and assets to Vigor pending approval of the transfer…
With so much discussion of the poor freight rates available to VLCC owners hiring their ships out for voyages from the Middle East to major consumers east and west, it is informative to see how much the spot market for VLCCs has changed in just a few years…