China Shipping Development and Sinopec Kantons are to spend HK$11.71 billion to buy six LNG carriers, which will be chartered to Sinopec.The two companies have set up a joint venture China Energy Shipping Investment (CESI) which is 51 percent…
StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships.The gross proceeds from the offering before the underwriting discount and other offering expenses are $100…
Odfjell buys long-term chartered vessel 'MT Bow Engineer', a 30,086 dwt chemical tanker.Odfjell, a leading company in the global market for transportation and storage of bulk liquid chemicals, acids, edible oils and other special products…
Denmark's TORM agreed to sell five MR product tankers to a company controlled by Oaktree Capital Management as part of an earlier restructuring agreement.The sale is a consequence of the specific option rights, which one bank group exercised in connection with the Restructuring Agreement…
Navios Maritime Holdings & Navios Maritime Acquisition Corp. in J/V sign LOI to buy 10 ships from debtors of HSH Nordbank.The new Joint Venture company, named Navios JV, has executed a binding letter of intent to acquire ten vessels, composed…
Catherwood Towing's owner, Ernie Catherwood, adds another tugboat to his 14-boat fleet that operates in and around Canada's Fraser River.The 39-year old boat was at a shipyard undergoing a scheduled Canadian Steamship Inspection. Ernie had…
After 6 months of charter Marigny Tug LLC of St. Augustine, Florida has closed on the purchase of the U.S. flag tugboat “Leslie Foss”.Prior to the sale, the twin-screw, sheer bow, ocean tug “Leslie Foss” (ex-Caribe Pioneer) had been on charter from Foss Maritime of Seattle…
Diana Shipping Inc. signs up to buy the 'M/V Tamou', a 2005 built Capesize dry bulk carrier of 177,243 dwt.The purchase price is US$27,020,202, less one percent address commission to the buyers. The vessel, to be renamed 'Baltimore,' is expected to be delivered by the end of May 2013…
Greek ship-owners bought 72 ships within the first three months of 2013, invest US$848-million in their companies.While the Greek government continues to mull plans to tax the country’s shipping industry to raise money during a crushing economic crisis…
Navios Maritime Acquisition Corp. to acquire 5 MR2 Product Tankers wth options for two more.The company which owns and operates tanker vessels, announce that it agreed to acquire five MR2 product tankers for an aggregate purchase price of approximately $143…
The continuing slump in global shipping is translating into brisk business for scrap yards at Gujarat's coastal town of Alang in India.Alang, which receives one out of every two ships destined for breaking, has retained the top slot amid stiff competition from Pakistan…
A dry bulk carrier has been delivered to the buyers & the contract for sale of a product carrier tankship has also been signed.The Great EasternShipping Company Ltd. (G E Shipping) has delivered its 1995 built Panamax dry bulk carrier Jag Arnav (about 71…
NGOs support EU Parliament Environment Committee call for ship recycling fund and off-the-beach stance.NGOs have applauded a breakthrough vote by a large majority of Members of the Environment Committee of the European Parliament (ENVI)…
The National Shipping Company of Saudi Arabia (Bahri) sells 'Saudi Diriyah' for recycling.The sale of the general purpose cargo vessel raised the sum of SAR. 30,257,136 generating a net gain of SAR 19,523,391 after deducting its book value and all expenses associated with the sale…
Incat Crowther announced that a 24m Catamaran Passenger Ferry under construction at Aluminium Marine in Brisbane, Australia has left the shed.This vessel is available for immediate sale, and can be customized to suit the operator’s requirements…
