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d’Amico, Glencore Joint Venture to Sell MR Tanker

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

August 19, 2019 Italian tanker shipping company, d’Amico International Shipping, has revealed that its joint venture company with Glencore Group reached a deal to sell one of its MR product tankers. Namely, GLENDA International Shipping d.a.c. (GIS), in which d’Amico Tankers holds a 50% participation, would sell the 47,147 dwt Glenda Megan, one of its […]

Golden Ocean Sinks Deeper into the Red

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August 15, 2019 Norwegian dry bulk shipping company Golden Ocean Group Limited (GOGL) has widened its net loss during the second quarter of 2019. The company recorded a net loss of USD 33.1 million during the quarter, compared with net loss of USD 7.5 million reported in the first quarter of 2019. Adjusted EBITDA of […]

Maersk Earnings Strengthen amid Recovery in Ocean Business

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August 15, 2019 Danish conglomerate A.P. Moller – Maersk reported “solid progress” in the second quarter of 2019 as its Ocean business witnessed continued recovery. Earnings before interests, tax, depreciation and amortizations (EBITDA) increased by 17% to USD 1.4 billion from USD 1.2 billion reported in the same period a year earlier. The change was […]

Evergreen Marine to Add 11 Containership Giants to Its Fleet

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August 15, 2019 Taiwanese shipping major Evergreen Marine Corporation has confirmed plans to construct and charter up to 11 containerships that would feature 23,000 TEUs. Under the deals worth around USD 1.76 billion, the company would order five or six vessels to be built, while up to five units would be chartered in. Out of […]

Yang Ming Posts Loss Despite Growing Revenues

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August 14, 2019 Driven by market challenges in container shipping, Taiwanese shipping company Yang Ming Marine Transport Corporation closed the first half of this year with a net loss. The company suffered a net loss of TWD 1.95 billion (USD 62.94 million), compared to a net loss of TWD 5.76 billion seen in the corresponding […]

Team Tankers Sells Three Units, Widens Second Quarter Loss

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August 14, 2019 Chemical tanker operator Team Tankers International has revealed its deals to dispose of three vessels for a total of USD 24.9 million. In May 2019, the company agreed to sell the 13,079 dwt Sichem Paris. The 2008-built vessel was renamed Masagana and delivered to its new owner in July. It was time-chartered […]

MSC Ship Fined for Violating Speed Limit in Canada

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August 13, 2019 Transport Canada has issued a CAD 12,000 (about USD 9,000) penalty to a containership operated by Swiss Mediterranean Shipping Company (MSC) and five other fines to vessels for non-compliance with the temporary mandatory slow down in the Gulf of St. Lawrence. Specifically, the Panamax boxship MSC Diego was fined for not respecting […]

Drewry: Modest Growth Expected for Global Container Port Demand

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August 12, 2019 Global container port demand is heading toward a modest growth and numerous uncertainties, accompanied with muted capacity expansion plans. Most world regions would therefore see an increase in average terminal utilization, shipping consultancy Drewry said in its Global Container Terminal Operators report. Drewry’s container port demand forecast for the next five years […]

Euronav Offloads Its Oldest VLCC

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August 6, 2019 Belgium-based shipping company Euronav has disposed of VK Eddie, a 2005-built very large crude carrier (VLCC). As informed, the 305,261 dwt vessel was sold by Euronav’s subsidiary Euronav Luxembourg to an unnamed supplier and operator of offshore floating platforms. A capital gain on the sale is approximately USD 14.4 million, according to […]

Awilco LNG Agrees Refinancing for LNG Carrier Duo

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August 5, 2019 Oslo-listed shipping company Awilco LNG has reached a sale and leaseback deal for two of its 156,000 cbm LNG carriers. Under the agreement, the 2013-built units, WilForce and WilPride, would be refinanced at “favorable terms”, the company said. The refinancing is similar to the current financing of the vessels and enables a full take out […]