Dryships to Expand into VLGC sector
DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas Carriers (“VLGC(s)”) capable of carrying liquefied petroleum gas (“LPG”) that are currently under construction at Hyundai Heavy Industries (“HHI”) .
Five Rescued Near Columbia River Entrance
The Coast Guard and a good Samaritan commercial fishing crew rescued five people from the water after the fishing vessel Star King, a 55-foot stern trawler homeported in Astoria, capsized and sank near the entrance to the Columbia River early Saturday morning. All five fishermen were pulled from the water by the crew of the fishing vessel Sea Ballad and were transferred to the Coast Guard 47-foot Motor Life Boat crew…
Libya to declare force majeure at Ports over Smuggling
Libya's UN-backed government will declare force majeure on two ports to stop fuel smuggling from them, a statement from its presidential council said on Saturday.
First into Montreal gets Gold-Headed Cane
The President and CEO of the Montreal Port Authority (MPA), M me Sylvie Vachon, today presented the Gold-Headed Cane to the shipping agent Denis Blondeau SMK Tanker Agency for the captain Danel Ju. Mr. Danel Ju of South Korean nationality and is the commander of Chem Sirius , going vessel to enter the Port of Montreal without a stopover in 2017. The Chem Sirius left the port of Antwerp, Belgium, on 19 December. He spent the limits of the Port of Montreal on 1 st January to March h 16.
Ships Collide in Philippines Sea
The reefer containership Sevilla Carrier collided with tuna fishing vessel Hsiang Yung No6 in Philippines Sea on 515 nautical miles east-south-east off Eluanbi, Taiwan on Jan 7…
Chinese Nuclear Sub Spotted at Pakistani Port
A Chinese nuclear-powered submarine was reportedly docked at a port in Pakistan, raising concerns across the border in India that it could have been monitoring the movement of its warships more closely than ever, reported NDTV. Showing an image on Google Earth of Chinese nuclear attack submarine docked in the harbour in Karachi in May last year, the report proved that Beijing might be scrutinizing Indian warships’ movements far more closely than earlier.
Aegean Marine Rolls out New Market in Rostock, Germany
Aegean Marine Petroleum Network Inc. has announced the launch of a new service center in Rostock, Germany that will serve all German Baltic Sea ports and Southern Scandinavian ports. The operations at Rostock will be managed by the existing team at OBAST Bunkering & Trading GmbH (OBAST), a physical bunker supplier and cargo oil trader. Under the terms of the agreement with OBAST, Aegean will acquire OBAST's existing share capital.
Euronav Gets Credit Line of $ 410mln
Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility. The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital purposes. The credit facility was used to refinance the USD 500 million senior secured credit facility dated 25 March 2014 and will mature on 31 January 2023 carrying a rate of LIBOR plus a margin of 2.25%.
Gulf Navigation forms JV with Polimar Turkish
Dubai-listed Gulf Navigation Holding has announced a partnership with Polimar Turkish Holding to grow its fleet and increase its global reach. Under the agreement, Gulf Navigation said it would be able to serve customers in major trading ports worldwide. The Gulf Navigation fleet is expected to grow from four service boats to 10 crews, tugs and offshore support vessels with a value of US$3 million per vessel as part of the deal.
Salalah Port Container Throughput Up 29pct
The Omani port of Salalah has registered a 29.4 per cent growth in container throughput in 2016 thus retaining its status as one of the region’s preeminent container transshipment hubs, said a report in Oman Observer. In initial unaudited and unapproved financials published on Thursday, the port announced that container traffic rose to 3.325 million TEUs (twenty-foot equivalent units) last year, up from 2.569 million TEUs in 2015, says the report.
BIMCO Launches First Report On Global Dry Bulk Terminal Performance
Since 2015 BIMCO has been collecting feedback on the performance of port terminals in order to be able to report the results to members and, ultimately, to give further guidance to ships. BIMCO has received over 400 feedback reports from bulk carriers on the performance of dry bulk terminals around the world. The data has been collected, evaluated and presented in this first annual report. The map shows that 74 countries had terminals, which were included in the vetting scheme. Aron F.