Pioneer Marine Sink Deeper into the Red
Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016. For the first quarter of 2016 the Company reported a net loss of $13.9 million, or $0.46 basic and diluted per share which includes charges…
HCI Group Takes Over 13 Feeder Containerships
The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU, with an average age of nearly ten years. Deutsche Bank AG will be refinancing part of the portfolio. The parties have agreed not to disclose the purchase price for the vessels.
DP World at China’s Belt & Road Summit
Global trade enabler DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem spoke at China’s Belt and Road Summit in Hong Kong this week highlighting the need for better international cross-sector connectivity in order to realise the significant trade potential. Speaking on a panel entitled ‘Enhancing cross-sector connectivity along the Belt and Road’ he stressed the impact on global trade that economic cooperation can bring…
Samskip, Pro-Log Double Barge Services
Multimodal network operator Samskip and inland waterway transport provider Pro-Log are celebrating the 10th anniversary of barge operations connecting Rotterdam and Duisburg by adding a second vessel, increasing service frequency to six times weekly. May 1, 2016 completes the first decade in the cooperation between the two unitised transport specialists, one a pan-European operator of ships, trains, trucks and multimodal equipment, and the other a dedicated river barge operator.
JWA to provide ShipDC with Marine Weather Info
The database service operated by ClassNK’s wholly owned subsidiary Ship Data Center (ShipDC) has been set to receive marine weather information from Japan Weather Association. ShipDC acts as a platform for big data related to shipping by securely collecting, storing and providing data to users through its data center. It aims to develop the infrastructure through which data can be centrally controlled…