The sale of STX Pan Ocean Co. fell through as the Easter financial markets closed.No potential bidders expressed their interest in South Korea's leading bulk carrier, raising the possibility that the shipping line may be taken over by a state-run policy lender…
Mitsui O.S.K. Lines (MOL) President Koichi Muto outlines business initiatives on his company's 129th anniversary.Extracts from his recent overview follow:In fiscal 2013, we will launch business initiatives based on a One-Year Management…
Greece-based shipowners Excel Maritime reports results for the second half and year-ended December 31, 2012, re-nFor the year ended December 31, 2012, Excel reported voyage revenues of $242.0 million compared to voyage revenues of $353.4 million for the year ended December 31…
The 63,800 dwt bulk carrier 'Amber Champion' has been completed and named at the Chengxi Shipyard Co.A spokesperson for the shipbuilder addressed guests at the ceremony, and the following is drawn from that speech.The Dolphin 64 bulk carrier is an energy-efficient…
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
The Multipurpose sector faces a difficult couple of years, but its long-term prospects are good, according to Drewry Maritime Research’s latest Annual Multipurpose Shipping Market Review and Forecast report.Most owners of Multipurpose ships (MPVs) were fairly upbeat at the start of 2012 and…
A decline in demand for Capesize vessels has been countered by an improvement in demand for Panamax vessels, according to the latest Dry Bulk Insight published by Drewry Maritime Research. This left the Drewry Hire Index unchanged from January’s level…
Mercator Lines (Singapore) Indian-owned international dry bulk shipping company cuts short charters, sell a ship.The sale of the vessel Sri Prem Putli was concluded on 21st March, 2013 resulting in net proceeds of USD 44.4 million. The proceeds…
Greece's Diana Shipping reports fourth quarter and year ended 31, December, 2012 results.Diana Shipping Inc. a shipping company specializing in the ownership and operation of dry bulk vessels, reported net income of US$ 5.0-million for the fourth quarter of 2012…
Rates to ship iron ore, coal and grains rose for the longest streak in almost a year on speculation Chinese demand increased. The Baltic Dry Index gained for a 15th straight session, adding 1.4 percent to 912 today, according to the Baltic Exchange…
Greece's Star Bulk Carriers Corp. announce its unaudited financial & operating results for the 3 & the 12 months ended December 31, 2012.Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector…
U.K. maritime intelligence provider Dryad Maritime are to release a specialist report, ‘Special Advisory Southeast Asia: Disorganized theft to organized crime,’ which will focus on the rise of targeted hijackings in Southeast Asia.The advisory to be released on March 18…
The Office of Foreign Assets Control (OFAC) has amended the Iranian Financial Sanctions Regulations to implement various statutory changes. The amendments come into effect immediately. 78 Fed. Reg. 16403Story courtesy of www.brymar-consulting.com.
The Port of Los Angeles has released its February 2013 cargo volumes. Overall volumes increased 16.99% compared to February 2012. The increase was due in part to a surge in imports prior to the closure of factories for the Chinese New Year. Imports jumped 25…
Inchcape Shipping Services (ISS) appointed Clive Lane as Vice President of Operations for Europe and North Africa.In his new role, Clive will be responsible for delivering exceptional services to ISS customers and ensuring optimal operational performance in the region…
