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Bulk operator Golden Ocean has sold most of its shares in fellow bulk carrier Navios Maritime at a loss of US$ 11.6m , with the sale price half what the company had paid for the shares last year. However, Golden Ocean said the loss had already been included in its equity levels, so the net effect on its balance sheet would be an in...
The crew of the abandoned Aurika may finally be able recover the pay owed to them for the past ten months as a date has been set for the ship's auction. The 8,873 dwt general cargo ship built in 1979 will go under the hammer at the end of next month, and the International Transport Workers Federation said it hoped it would fetch a price that would allow ...
FD&D insurance specialist the UK Defence Club has reported a good performance for the past financial year despite the global recession. Net claims incurred rose to GBP 14.5m , compared with GBP 9m in 2007/8. However, premium income rose by six percent because of continued growth in entries. Investment return totalled GBP 4.3m , GBP 1.6m bett...
CLASHES broke out today between Spanish yard workers involved in a new general strike and police in Vigo – despite a stark warning that all its yards now face closure. The chairman of the HJ Barreras yard in the northwestern Spanish city, José Francisco González Viñas, warned that Vigo’s yards collectively face &euro...
Wilhelmsen Ship Management has signed a new five-year contract with Schenker AS in Norway for their ships spares logistics. The contract covers global warehousing, handling and transportation of the ships spares to the vessels under WSM management. A direct IT-integration between WSM’s procurement system and DB Schenker is...
Ocean carrier Eastwind Maritime Inc. said Wednesday it is filing for bankruptcy and plans to liquidate its assets, which includes a sizable fleet of fruit carriers, freezer vessels, bulk carriers and product tankers, Reuters reported. The company, along with 50 affiliates, filed for Chapter 7 in a New York court and said in a s...
These remain treacherous times for the seaborne carriers of commodities called dry bulk shippers. While industry leaders gather in New York City to discuss the challenges, one intrepid shipper is boldly throttling up to position itself for long-term recovery of commodity demand. The topics at the annual Big Apple gathering ca...
Maritime Transport LimitedATHENS, Greece, June 24 /PRNewswire/ -- Grandunion, Inc., a company controlled by Michael Zolotas and Nicholas Fistes, today announced that it has entered into a letter of intent with Aries Maritime Transport Limited ("Aries") (Nasdaq: RAMS - News) that contemplates, among other things, the acquisition of three Capesize drybul...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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