The Greek seaborne shipping and logistics company Navios Maritime Holdings sold its ship management division and certain general partnership interests to N Shipmanagement Acquisition Corp. (NSAC), affiliated with company’s chairman and chief executive officer, Angeliki Frangou.The provider of transport and transshipment of drybulk commodities received aggregate consideration of $20.
Women make up only an estimated two percent of the global maritime industry. In the U.S., the statistics are a little better, with less than eight percent of ship and boat captain operator roles held by women.Still, for a female to have the opportunity to train up to ship captain is considered “unique.
VT Halter in Pascagoula, MS has been on a strong run, capped by its winning the high-profile contract to build the U.S. Coast Guard’s next generation of icebreakers. Maritime Reporter recently spoke with Ron Baczkowski, President and CEO, VT Halter Marine, for insights on the shipyard’s recent success and future prospects.
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
Building on its 125-year heritage, Norwegian shipowner Hurtigruten has become a leader in exploration travel offering voyages to more than 200 unique destinations in more than 30 countries ranging across the globe from the Arctic to the Antarctic and including cruises in Norway, Greenland, Svalbard, Iceland, Western Europe, and the Americas.
Taiwanese liner Yang Ming Marine Transport Corporation has announced the launch of two new ultra-large container vessels (UCLVs), which were officially named at Imabari shipyard on March 6, 2019.The two ships, YM Warranty and YM Wellspring, have a container capacity of 14,000 TEU and will join the total of 20 UCLVs added to Yang Ming’s fleet since 2015.Yang Ming Marine Transport Corp.
Hurtigruten orders third hybrid-powered expedition cruise shipGrowth in the global cruise sector continues, as Hurtigruten, the world’s largest expedition cruise operator, signed an MOU with shipbuilder Kleven Verft AS for the construction of a third hybrid-powered expedition cruise ship. Tom Mulligan, Maritime Reporter’s Science & Technology writer, reports from Norway.
The exposure of five Philippine banks to financially distressed Hanjin Heavy Industries and Construction Co. Philippines (HHIC-Phil), which recently declared bankruptcy after it defaulted on over $400 million in loans, could put pressure on their credit ratings.Their exposure to what may well be the largest corporate default in Philippine banking history may put pressure on the credit ratings of
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated
Norwegian company Hurtigruten, the world’s largest expedition cruise operator, is continuing to push the boundaries when it comes to green travel with its order for three hybrid-powered vessels nearing completion, the first ship being due for delivery in May 2019.Two of these revolutionary ships are currently under construction at the Kleven Yard in Ulsteinvik, Norway
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.