MSC pays millions to release seized vessel
MSC pays a USD 50 million bond to release the vessel MSC Gayane. The vessel has been idled in the US for nearly a month due to a large cocaine discovery.
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MSC pays a USD 50 million bond to release the vessel MSC Gayane. The vessel has been idled in the US for nearly a month due to a large cocaine discovery.
Cosco, the world's third-largest container liner, is considering joining the Digital Container Shipping Association, which was founded by Maersk, among others. The alliance is working to create common standards for the industry.
Danish Blue Star Line, which covers a fleet of eight ships, filed for bankruptcy on Friday. Years of deficits and two canceled charter agreements were the final blow. The biggest creditor is a bank, trustee informs ShippingWatch.
The Baltic Dry Index, which measures dry bulk freight rates, reached its highest level in five years Monday. Following several difficult years and a surprisingly poor start to 2019, optimism is starting to spread.
Shipping companies should keep an eye out for four red flags, which increase the risk of breaching sanctions against North Korea, Iran and Syria. The US is keeping a close eye on shipping, lawyer tells ShippingWatch.
In an unusual post on LinkedIn, Søren Skou writes that the first step in Maersk's historic transformation has now been completed. "I strongly believe that we now have the building blocks we need to succeed," he writes.
Sea-Intelligence estimates that 2M is set to lose 7 port pairs between Asia and the US West Coast when HMM leaves to join competitor THE Alliance next year.
A UK minister says the supertanker Grace 1 will be released if Iran guarantees that the ship is not headed for Syria.
Three of the world's biggest liner companies, along with a number of terminal operators, officially commit to Tradelens competitor GSBN. The collaboration is expected to take off next year.
It is a bad idea to use armed security guards on vessels sailing through the Gulf of Oman, warns the ICS. The consequences of a gunfire exchange could be severe.
Data on China's commodities output reveal no signs of a slowdown as production reached record levels in June.
German bank Berenberg is confident that Maersk's second quarter financials will be improved by higher freight rates and lower fuel expenses. Maersk's interim report will be published next month.
In future, engine manufacturers MAN Energy Solutions and HSD Engine will collaborate with South Korea's DSME yard to digitize engine systems, informs MAN Energy Solutions in a press release.
China's second-quarter growth was the lowest in 27 years. In the second quarter, China's gross domestic product grew by 6.2 percent, the slowest growth in about three decades, writes news agency Reuters.
Thorco's sale of loss-making ships is now close to complete, CEO tells ShippingWatch. The ship sales have cost millions for the Stadil family's shipping business in recent years.
A week after an Iranian tanker vessel was detained, its captain and first mate have now been arrested, informs police.
Samskip has found a permanent replacement for Jens Holger Nielsen. The new CEO is a 52-year-old Finn who is former chief executive of shipping company Containerships and has an active career as a race car driver.
Oil company Aker BP exits the second quarter with a profit that is nearly half of what the company booked for the same period last year. Production is also down.
Ocean Yield, controlled by Kjell Inge Røkke's Aker group, aims to acquire more vessels in the future. Both revenue and the bottom line dropped significantly in the second quarter.
Shipping group Scorpio orders even more scrubber systems for its dry bulk and tanker vessels. The new order comes on top of the 80 systems ordered last year, and are slated for installation in 2020.
Britain raises its threat assessment to the highest level possible for ships operating in the Persian Gulf as tensions escalate in a region accounting for a third of seaborne petroleum trade.
Blue Water will never be sold, asserted founder Kurt Skov to ShippingWatch. The detainment of vessel Grace 1 (photo), OW Bunker and a fine for Total also drew headlines this week.
Container index SCFI increased again after sliding last week. The increase happens despite a setback on routes between the Far East and Europe.
The risk of a strenuous court process made OW Bunker's former banks, headed by Dutch ING Bank, agree to a settlement with the bankruptcy estate, shows a proposal for the USD 28 million settlement, which ShippingWatch has read.
A British warship had to step in when five Iranian ships approached a UK tanker vessel near the Strait of Hormuz. The tanker is operated by oil company BP.
Marine Superintendent - UltraShip
Executive, Operations - BW LPG
Contract Manager for fuel purchase - Hofor
