Greek shipping group Navios has sealed a deal with debtors in German HSH Nordbank to acquire 14 vessels facing serious risks of insolvency, says Navios in a statement. The two parties announced the agreement in April, and the agreement has now been finalized. This represents the second transaction since 2013.
"We are pleased to announce a second transaction with HSH where we are acquiring vessels at historically low values and with favorable economics that are better than the first transaction,"says Navios CEO Angeliki Frangou in the statement.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Price difference between spot rates and contracts runs to USD 20,000
It now costs upwards of USD 20,000 more for a shipper to use the spot market instead of a contractual agreement in the extreme container market, a doubling in four months, according to Sea-Intelligence.
Norway calls on IMO to introduce global CO2 quotas for shipping
In a remarkable proposal, one of the world's largest shipping nations calls on the IMO to introduce CO2 quotas along with a demand to effectivize the fleet. The proposal will be discussed this week preceding the defining MEPC meeting in November.
Poseidon Principles set to raise ambitions in coming weeks
.jpg)
The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.
Chinese energy crisis threatens to disrupt global supply chain
Buyers in Europe and the US will have to wait longer for their supply of goods, as Chinese factories are forced to reduce production, according to Financial Times.
Coast guard boards vessel that dragged anchor near pipeline
The US Coast Guard boarded a container ship that dragged its anchor near to a Southern California undersea pipeline that was the source of an oil spill earlier this month.
Senior Sales Director Naval - Terma 
Operations Executive 
Chief Business Officer for Cruise 
Operations Manager For Clipper Bulk A/S in Copenhagen 
Re-posting: Do you want to help set the agenda for the maritime competencies of the future? 
Coordinator / Marine Operator / Operations 
Commercial Operations - Stena Bulk 
Shipping & Logistics Coordinator – Seafood 
Legal Counsel for an international shipping company