Royal Bank of Scotland has, according to Reuters, divested parts of shipping loan portfolio. Sources tell the news agency that the bank has sold loans to Greek buyers in particular for EUR 600 million. The bank declines to comment on the story.
Oceansaver's market disappeared after the IMO postponed the implementation deadline this summer for the ballast water requirements, CEO and Chairman Kjetil Bruun-Olsen tells ShippingWatch. The postponement hurts first movers, says association Danish Maritime.
Oceansaver, the Norwegian ballast water management systems supplier, has been declared bankrupt. The company is just one of four companies to have secured a key type approval for its systems. The development is blamed on the slow IMO process.
Following an internal audit, it has surfaced that Wärtsilä is dealing with a case regarding fraud with the test results of its engines. Two percent of the engines may be affected. Employees at the company are responsible.
A series of renowned shipping names, including Blystad Group, are behind the new company Maritime Asset Partners, which will offer alternative financing to shipping companies. USD 150 million are ready to be invested. "We can raise more money according to our needs," head of the company Nick Roos tells ShippingWatch.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.