Archive

Euronav’s Merger with Gener8 Maritime Is the Deal of the Year

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

December 12, 2018 The merger between Belgium’s tanker shipping company Euronav and US-based crude oil shipping company Gener8 Maritime has won the ‘Deal of the Year 2018’ award by Lloyd’s List Global Awards. The merger was concluded in June this year, creating a large crude tanker operator with a fleet of 76 operating crude tankers, with […]

Koch Charters Diana Shipping’s Panamax

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December 12, 2018 Greece-based dry bulk owner Diana Shipping has signed a time charter contract with Singapore’s Koch Shipping for one of its Panamax bulkers. Under the agreement, the company’s 77,901 dwt Ismene was hired at a gross charter rate of USD 12,125 per day. Starting from December 12, the bulker, which was built in […]

Navig8 Chemical, AVIC Ink Sale and Leaseback for Two Tankers

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December 12, 2018 Navig8 Chemical Tankers has entered into sale and leaseback agreements with AVIC International Leasing for two of its tankers. Under the deal, the IMO2 37,000 dwt Interline coated tankers were sold and delivered to Avic. Navig8 Chemical has entered into 10-year bareboat charters with Avic for the units. It has purchase options […]

NYK to Build Three More LNG Carriers for Mitsubishi

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December 11, 2018 Japanese shipowner NYK Line has signed long-term charter contracts with a subsidiary of Mitsubishi Corporation for three new liquefied natural gas (LNG) carriers. Ordered from South Korea’s Hyundai Samho Heavy Industries, the units would feature a length of 297 meters and a breadth of 46.4 meters. The first vessel from the batch, scheduled […]

Maersk Unveils New Cargo Protection Solution

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December 10, 2018 Danish shipping giant Maersk is expanding its commercial offering with an extended liability solution, Value Protect, to help protect its customers’ cargo. The solution offers an alternative to cargo insurance, increasing the customers’ chance of receiving full compensation in case of cargo damage in transit, the company explained. Valid while the cargo […]

Moody’s Downgrades Maersk’s Ratings, Outlook Stable

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December 10, 2018 The issuer rating and senior unsecured rating of Denmark-based shipping major A.P. Møller-Mærsk were downgraded to Baa3 from Baa2, according to rating agency Moody’s. The company’s medium-term note (MTN) program rating were also downgraded to (P)Baa3 from (P)Baa2. The rating outlook for all ratings is stable, Moody’s added. “The downgrade reflects our expectation […]

Maran Gas Returns to DSME for Another LNG Carrier

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December 10, 2018 South Korea’s Daewoo Shipbuilding & Marine Engineering has won a shipbuilding contract for a liquefied natural gas (LNG) carrier from a Greek shipowner. Namely, DSME is to construct the new LNG carrier for John Angelicoussis’ shipping company Maran Gas Maritime, Yonhap News Agency said citing the shipbuilder. The unit, which will feature 173,400 […]

MOL to Take Part in Indonesia’s Jawa 1 FSRU Project

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December 7, 2018 Japanese shipping company Mitsui O.S.K. Lines has signed agreements related to the construction of a floating storage and regasification unit (FSRU) for Indonesia’s Jawa 1 project. The FSRU would be provided by PT Jawa Satu Regas (JSR), a joint company of PT Pertamina, Marubeni Corporation, and Sojitz Corporation, to storage and regasify LNG to […]

NYK to Build Two More LNG Carriers for Total

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December 7, 2018 Japanese shipowner NYK has signed a long-term charter contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of French energy major Total, for two LNG carries to be built by Korea’s Samsung Heavy Industries Co. The duo is scheduled for delivery in 2021 and will be equipped with a WinGD-made dual-fuel slow-speed diesel […]

CMA CGM Becomes the 1st Ocean Carrier Listed on Freightos

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December 5, 2018 French shipping company CMA CGM has unveiled a pilot agreement with online freight marketplace Freightos whereby the company became the first ocean carrier listed on the platform. Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are now available on Freightos, with further extension to additional lanes planned in the […]