Continuously updated news for the shipping and maritime community from Fairplay International Shipping Weekly.
Updated: 30 min 26 sec ago
EITZEN Chemical said it cut losses in 1Q13 and expects its tonnage balance to improve as the year wears on.
PRESIDENT Obama’s proposal to restructure the Food for Peace programme will be rejected because it would endanger the US flag, US lawmakers vowed today.
MOROCCO’S IMTC said today it hopes to resume normal service in the next two weeks amid reports that several of its ships have been forced out of service because of financial problems.
ANGELIKI Frangou-led Navios Holdings today revealed a new five-ship Asian drybulk partnership and the acquisition of four bulkers for its own fleet.
DRYBULK owner Diana Shipping and its box sector sister Diana Containerships today announced a flurry of moves, including newbuilding orders, a related-party loan, an upcoming equity offering, impairments and a ship sale.
GREEK officials are today holding 225 people in attempts to smuggle migrants over the past week – one of which resulted in a girl’s death.
PIRATES were reported today to have freed 16 Chinese seafarers and their vessel after two weeks of captivity.
CRUISE analysts today graded down Carnival Corp’s stock, following yesterday’s profit warning by the Micky Arison-led company.
BOX RATES in Far East/Europe trades are no longer covering carriers’ costs, a liner shipping analyst said today.
BUDGETS approaching in Bangladesh and Pakistan and the nearing South Asian monsoon season have made end-buyers more cautious about scrapping ships.
POLARCUS, the Oslo-listed marine geophysical services provider, said it is weighing whether to issue $95M in unsecured bonds.
MALAYSIA Marine & Heavy Engineering said today 1Q profits fell 35% to 50.6M ringgit ($16.8M).
STX PAN Ocean was said today to be seeking buyers for four pure car & truck carriers, as the debt-laden company attempts to raise cashflow, sources told Fairplay.
RATES to haul LPG on very large gas carriers have hit a 2013 high as traders rush to secure tonnage for free-on-board cargoes amid short vessel supply.
WAN HAI Lines was the only listed box shipping company in Taiwan to make net profits in 1Q13, according to its fiscal report.
NORWAY’S Höegh LNG Holdings said it has received $299M in commitments from five banks to finance an Indonesian regasification scheme.
CHINA COSCO, the flagship listed unit of China Ocean Shipping Group, plans to raise 2.9Bn yuan ($468M) by selling its subsidiary’s stake in CIMC, in a move to boost its operating performance in 2013.
CHINA Exim Bank said it has agreed to provide three Greek shipowners with financial support.
SHENZHEN-listed Changhang Phoenix has been sued by China Everbright Bank over interest payment delays.