Hyundai Heavy, Korean shipyards plan debt sales Hyundai Heavy Industries Co and two other South Korean shipyards may borrow about three trillion won (S$3 billion), tapping the debt market for the first time in seven years to replenish capital as orders dry up, analysts said.
Half of new carriers won't be delivered As many as half of the commodity carriers scheduled to be built are endangered as financing for construction is cut, Genco Shipping & Trading Ltd chief financial officer John Wobensmith said.
Maersk eyes CO2 transportation AP Moller- Maersk wants to expand into carbon dioxide transportation if capture and storage (CCS) technology becomes an important tool in cutting emissions, executives told Reuters on Wednesday.
Swiss WorldCargo launches flights to Lyon Swiss WorldCargo will open a direct service between Zurich and Lyon (France) on 29 March. The flights will be operated four times a day with an Avro RJ100 (payload 1.5 t, 8 cb...
NOL announces departure of Brian Lutt as president of APL Logistics The global container shipping and logistics group Neptune Orient Lines (NOL) has announced that Brian Lutt, president of NOL's subsidiary APL Logistics, is leaving the company to p...
Easyrail.at goes bankrupt Easyrail.at has gone bankrupt after just two months of operations. The Austrian intermodal operator has debts of around EUR 600,000. The management said that easyrail.at did not ge...
Cologne airport expects cargo throughput to decline Cologne/Bonn airport in Germany has reduced its freight target for the year. Airport head Michael Garvens said that that instead of cargo volumes rising by 3%, as he had previously...
Port of Long Beach to boost clean fuel incentives The Long Beach Harbor Commissioners recently gave preliminary approval to a plan to cover more of the costs of switching to clean fuels near the port of Long Beach, as a step towar...
Lawrence Rosen new CFO of DPWN The supervisory board of Deutsche Post World Net (DPWN) has appointed Lawrence A. Rosen to the management board as chief financial officer. Rosen, who is currently Fresenius Medica...
Samsun files Chapter 15 DRYBULK operator Samsun Logix has petitioned for US Chapter 15 bankruptcy protection to complement its South Korean debtor rehabilitation proceeding
Ship spills oil in Wilmington COAST Guard personnel and multiple other agencies are responding today to a fuel oil spill at Wilmington's port in Delaware
IMO: 93 held on pirate ships THERE are 93 seafarers being held hostage in unknown condition aboard six ships in the Gulf of Aden, a piracy conference in London heard today
DVB demands extra securities GERMAN transport finance bank DVB said today it is invoking asset protection clauses in shipping loan agreements on a wider scale to prevent losses from the worsening recession
Operators want easier dumping VESSEL operators, some of whom have been stung by US oil dumping prosecutions, said today they want fines collected by the US Coast Guard spent expanding facilities to make proper dumping easier
N Korea warns shipping on launch NORTH Korea has warned the IMO and other global agencies that a planned satellite launch could affect maritime navigation
Japan skidding faster than US JAPAN said today its economy shrank 3.2% in the final quarter of 2008, marking a decline into recession that is even faster than that of the US
Pirates hurt two Mariners injured after pirates fired on Japanese-controlled bulker and a North Korean cargoship.
Ship shares rise US shipping and offshore stocks take flight amid market rally, but Danaos heads south.
Ore overhang? Over-importing of iron ore could push capesize rates downward, analyst warns.
Irving in OSV deal Irving Shipbuilding to build and operate offshore supply vessel for Canada's EnCana Corp.
DVB dips German bank hurt by write-downs as 'outside factors' stand in the way of another record profit.
Delaware spill US-flag pure car carrier suffers punctured fuel tank in Wilmington port, causing a small fuel oil spill.
Shipping stars Sammy Ofer and John Fredriksen have more money than George Lucas and Giorgio Armani but there is no place for Maersk McKinney-Moller at billionaires' table.
Rig recovery Ensco and US Coast Guard working to recover the Ensco 74, the submerged rig suspected of causing a tanker to take on water.
Putin's promise Russian prime minister says Gazprom and Rosneft will order 307 ships in coming years.
Carras cancels Greek owner pulls two of eight capesizes on order at Maersk's Odense yard in Denmark.
Filipino fury VP Noli de Castro threatens to bin license of crew agents for Stolt Strength held off Somalia for four months.
Pavel grounds Russian cargoship becomes lodged near Greek island of Ikaria, but no pollution reported.
Navibulgar chops Bulgarian owner to lay off 791 crew as it gets rid of elderly ships in economic downturn.
Singled out Just one vessel held in Hong Kong during February for failing safety checks.
Jiangmen: 'Not us' Chinese yard Jiangmen Nanyang says it is not yard which has seen newbuildings axed by Norden.
Shoring up Morits Skaugen-led shipowner grabs $30m from double note issue to fight global financial crisis.
Samsun files Troubled South Korean owner files for bankruptcy in US citing "meltdown" in drybulk market.
Clean-up begins Australian crews working to contain 'significant potential hazard' after fuel-oil spill from boxship.
Nenes in Greek owner OceanFreight has a new vice president as chief operating officer Michael Gregos resigns.
TBSI tanks Shares in troubled US-listed tweendecker specialist plummet dragging other dry stocks with it.
Cargoship burns North Korean vessel helped by German frigate after fire breaks out off Somalia.
Emden pile-up Danish salvage vessel rams ferry into third vessel in collision incident at German port.
Swire profits jump Hong Kong offshore vessel player saw strong demand last year, but is expecting challenging 2009.
Help! China's state-owned Cosco under pressure from provincial leaders to help revive industries hurt by global slump.
Derivatives bite US-listed OceanFreight slumps to fourth quarter loss, but its revenues rise on expanded fleet.
Hunkering down Coustas-led Danaos halts dividends, delays newbuildings, forges covenant waivers and reports a drop in earnings.
Hunting Samsun Fotini Karamanlis-led Hellenic Carriers latest to launch legal action against Samsun Logix following charter default.
Dock riot Greek police and coast guards clash with repair yard workers in Piraeus.
Stella Shipping invites investors to buy shares Stella Shipping PS (partnership), with its office in Marstal, plans to transform the company to a limited company (A/S) in a campaign to sell shares for DKK 25 million
Torm shows good figures Dampskibsselskabet Torm had another fine year in 2008 with a satisfying profit, although the profit was halved with the previous year. However, 2007 was an extraordinarily good year after the
Holy House ordered to pay USD 1.4 million for environmental crimes The Swedish shipping company Holy House has been sentenced to pay a USD 1 million fine as well as a special assessment of USD 400,000 in community service payments and
EU handed over pirates to Kenya The EU naval operation Atalanta has for the very first time handed over arrested pirates to the Kenyan authorities for prosecution. Nine suspected pirates were arrested in the Gulf of
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