Credit curbs hit weak shippers and shipyards Access to credit is the lifeblood of maritime trade and the credit crunch has largely cut off that supply, threatening to weed out weaker shippers and shipyards, as well as hamper global trade.
Muslim crew of hijacked ships allowed to fast, pray Somali pirates pointed guns habitually at Malaysian and Filipino tanker crew members held captive for weeks, but allowed Muslim hostages to fast and pray to observe the holy month of Ramadan, news reports said on Sunday.
Daewoo falls on reported delay Daewoo Shipbuilding & Marine Engineering Co dropped to the lowest in 20 months in Seoul trading on concerns that the sale of a controlling stake in the world's third-largest shipbuilder may be postponed.
EU launches naval escorts in Gulf of Aden MILITARY-led convoys of merchant vessels will begin this week, says European Union's piracy chief.
Underwriters in muddle over piracy cover
Economou in $1.2bn fleet expansion move GEORGE Economou stuns market with deals for nine capesizes and two drillships.
Conti sees no sign of shipping crisis KG financing house says getting loans for newbuilding projects will not be easy but remains bullish about industry's future.
Economou makes a $3Bn move DRYSHIPS is making Capesize and drill ship acquisitions that are worth almost $3Bn and involve sellers tied to DryShips chairman George Economou
Royal Carib to sell Island stake ROYAL Caribbean will sell its 50% share of UK-based Island Cruises to its long-time partner in the venture, First Choice Holidays
Captain blamed in dredger deaths GEORGIAN sea transport officials blamed the captain today for the sinking of a Ukrainian dredger, in which he and two others drowned
Banks not lending: Economou DRYSHIPS chairman George Economou believes drybulk fundamentals remain sound and that rates will rebound, but he expressed concerns on bank financing
STX fined for illegal dumping STX PAN Ocean has agreed to pay $750,000 to US authorities after pleading guilty over illegal garbage dumping from the South Korea-flagged bulker Pan Voyager
Brazil stocks dive 9.25% BRAZIL'S stock exchange, the Bovespa, fell 9.25% today, with shipping companies taking a nasty whack
Cape valuations questioned in deal DRYSHIPS chairman George Economou has answered critics regarding the high valuation of Capesizes being acquired from related private party Cardiff
Stena Nordica stops sailing on the route Karlskrona-Gdynia Stena Line has decided to take Stena Nordica out of traffic on the route Karlskrona-Gdynia. October 19 will be the last day for the ro-pax-ferry on the route. The reasons are few passengers and increasing fuel prices ...
Marin Teknikk AS to design two offshore-vessels The Norwegian company Marin Teknikk AS has made an agreement with an undisclosed Norwegian shipping company and with the Indonesian shipyard Batamec of designing two offshore-vessels of the type MT 6022 XL, according to the Norwegian newspaper Heroynytt. This ...
Wilson buys two vessels for NOK 39 million Norwegian shipping company Wilson buys the two vessels Wilson Gijon and Wilson Gdynia for NOK 39 million. The vessels are now owned by Caiano AS, that is the largest shareholder in Wilson ASA. The two ships are built in 1993 ...
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