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Brazil to propose raising foreign stake in local airlines -official

Posted By Tony Sanchez / Airlines / 0 Comments

February 29, 2016 The Brazilian government plans in the first half of the year to propose to Congress an increase in the foreign ownership of local airlines, which could include a two-stage hike, Interim Aviation Minister Guilherme Ramalho told Reuters on Monday. Read More

Bad Year Start for Liner Reliability

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 Container service reliability started 2016 on a disappointing note as the average on-time performance slipped by 5.7 percentage points in January to 69.6%, according to Drewry’s Carrier Performance Insight. Read More

Höegh LNG Nets USD 223 Mln to Finance New FSRU

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 Oslo-listed owner and operator of floating LNG import terminals, Höegh LNG Holdings, has received commitment letters for a USD 223 million bank financing for FSRU#7, scheduled for delivery by the end of the first quarter of 2017, the company said. Read More

17 Shipping Firms Face Sanctions for Alleged Price Fixing

Posted By Tony Sanchez / Cargo News / 0 Comments

February 29, 2016 Seventeen container shipping companies are facing sanctions due to alleged price fixing activities in the period from 2009 to 2013 between Peru’s Callao port and Asia, the Peruvian standards development organization Indecopi informs. Read More

Pioneer Marine: 25 Bulkers Laid Up in Greece

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 Drop in freight rates in 2015 for all classes of bulkers have forced owners to resort to demolition of older tonnage and layup as excess supply overwhelmed anaemic demand growth, particularly in the fourth quarter. Read More

El Faro Hearings on Hold for NTSB’s VDR Search

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 The first phase of US Coast Guard’s probe into the sinking of the cargo ship El Faro and the loss of 33 crew members concluded on Friday, Reuters reports. Read More

Scorpio Bulkers Cuts Loan Repayments, Delays Newbuilds

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 Monaco-based bulker owner Scorpio Bulkers has struck a deal in principle with its lenders to amend the minimum liquidity covenant and reduce future principal repayments under its credit facilities. Read More

Hafnia Snatches USD 360 Mln for Vessel Refinancing

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 29, 2016 Danish shipping company Hafnia Tankers signed a USD 360 million loan on February 23 to refinance twelve medium range (MR) product tankers and provide post-delivery financing for the company’s six MR newbuilds. Read More

Brazil airline Gol to get $251 mln cash injection, trim routes

Posted By Tony Sanchez / , , / 0 Comments

February 27, 2016 Brazil’s second biggest airline Gol Linhas Aereas Inteligentes SA said it will get a cash injection of up to 1 billion reais ($251 million) and announced cuts to its routes and aircraft fleet in an effort to trim costs amid weak demand. Read More

IAG Reports 65 Percent Profit Growth For 2015

Posted By Tony Sanchez / Airlines / 0 Comments

February 26, 2016 IAG reported a 65 percent rise in annual profit at EUR€2.3 billion and said for 2016 it expected a further profit increase as it benefits from lower fuel costs. Read More