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Monjasa bags vital credit facility from French bank

Bunker company Monjasa has signed a credit facility with French bank Société Générale for USD 80 million. "We see the establishment of this new facility as a seal of approval in the robustness of our business model," says Monjasa's CFO in a comment on the agreement.

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Maersk vessels sailed under black-listed flag for final journey

Four vessels from Maersk Line sailed under black-listed flags, when on the way to be scrapped along the coast of Alang, India. The out-flagging occurred after the group sold the vessels to cash buyers. Seafarers risk paying the price, says an NGO and union.

Bulk recovery faster and stronger than expected

Growth in the dry bulk market is surprisingly strong and driven by Chinese appetite for iron ore as well as the large Capesize vessels, assesses JP Morgan ahead of the release of many third quarter reports.

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