News

US dry bulk shipping player Pioneer Navigation has reshuffled its leadership team. The Stamford-based company founded through the combination of Nassau-based Pioneer Navigation in the Bahamas and dry cargo brokerage Atlas Shipping has named Peter Bro as its new president. Bro, who spent about 20 […]

Oslo-listed seismic data specialist TGS has kicked off a new multi-client ultra long offset OBN data acquisition campaign in the Gulf of Mexico. The so-called Amendment 4 project will expand node coverage in TGS’ multi-client library, adding over 1,100 sq km in the Mississippi Canyon, Ewing […]

Beijing has moved to prevent the sale of CK Hutchison’s ports division to BlackRock and Mediterranean Shipping Co (MSC), a transaction that was meant to have gone through tomorrow.  The decision last month by the Li Ka-shing-controlled conglomerate to sell 80% of Hutchison Ports for $22.8bn in a […]

French liner giant CMA CGM is suing GCC Supply & Trading for more than $5m at a court in Texas over an alleged case of contaminated bunkers dating back to 2023. CMA CGM claims 13 of its vessels were damaged when it took on VLSFO fuel at Houston in the first half of 2023.  “Shortly …

How can you plan for the future when the present is so uncertain, writes Pierre Aury? Scenario planning involves looking at different scenarios with associated assumptions and events. These scenarios are not forecasts but views of how the future could unfold. These scenarios only need to be […]

Lower earnings and values for the dry bulk sector are on the way, with the biggest ships leading the way, writes Will Fray, a director at Maritime Strategies International. New analysis by Maritime Strategies International suggests a divergence between Fair Market Value (FMV) of dry bulk assets and […]

Sales activity remains brisk in the dry bulk market, especially in the supramax sector, with a notable firming of values. Brokers are reporting increased Japanese- and Korean-built vessel sales candidates being circulated for sale. The news follows last week’s public hearing held by the US Trade […]

Clayton Pinto-led Seven Islands Shipping, a Mumbai-based tanker specialist, has paid $11m for the 13,200 dwt Owl 3—its second 2010-built clean tanker acquisition in under a year. The ship is listed as sold by clean tanker specialist Interunity Management.  In recent years, Fairfax Financial […]

One more steam turbine LNG carrier has been sold for demolition this year. Brokers report that Japanese shipping giant Mitsui OSK Lines (MOL) has disposed of its 2004-built Dukhan for around $20m. The final destination of the 137,457 cu m ship, which has been idle in Malaysia since last September, […]

Greek shipowner Costamare has lined up a management team for its dry bulk business spin-off. Costamare Bulkers, a separate entity set to be listed on the New York Stock Exchange, will be headed up by Costamare’s chief of finance, Gregory Zikos. Supporting Zikos at the outfit, which will own […]