Maersk container ship disabled, drifting off the coast of Portugal after engine failure. Tug ordered just in case.Maersk Line container ship Gerd Maersk, on passage from the Far East to Bremerhaven, following engine failure, was drifting about 20 miles northwest of Porto…
Owners of wrecked 'Rena' held accountable by Maritime New Zealand, bulkhead down, wreck disintegratingMaritime New Zealand (MNZ) has charged the owner of the cargo vessel Rena, following the ship's grounding on Astrolabe Reef off Tauranga on 5 October…
HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridorsTrade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects…
Ship Finance International Limited (NYSE:SFL) has agreed to terminate chartering agreements with Horizon Lines, LLC relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued…
Maritime New Zealand Authority updates wrecked container ship condition in storm conditions Salvors report the aft section of the wreck being subject to rolling movement in rough seas, with waves of 8-10m hitting the vessel. It is…
Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container…
Final Restoration Plan Completed for Cosco Busan Oil Spill; Projects will Address Impacts from Ship that Struck the Bay Bridge.State and federal trustee agencies have released the Cosco Busan Oil Spill Final Damage Assessment and Restoration Plan…
Danaos Corporation, a leading international owner of containerships, announced that on February 28, 2012, it took delivery of one more newly built containership, the CMA CGM MELISANDE, expanding its operational fleet to a total of 61 containerships aggregating 312…
CMA CGM announces the reshuffling of its services on the Asia – US East Coast trade. As from the 28th March 2012, the new CMA CGM Asia – US East Coast network will be covered by the following loops: PEX 3: Asia – US Gulf Coast…
Mitsui O.S.K. Lines, Ltd. announced that the MOL-operated containership MOL Maneuver collided with the containership Zhen He while under way on the open seas southeast of Hong Kong, on February 22, 2012, at around 17:45 p.m., Japan time. None…
Dr Mark-Ken Erdmann will join Rickmers Holding in Hamburg as Deputy CFO as of 1 July 2012. In this position, he will be responsible for a broad range of corporate functions including Accounting & Controlling, Tax, IT, Human Resources, Legal Affairs…
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…
U.S. Shipping Company Convicted For Oil Pollution On High Seas. Horizon Lines, LLC was sentenced Tuesday in front of the Honorable Richard Seeborg after pleading guilty to felony charges concerning violations of international and national…
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…
