Dubai-based Transworld Holdings has managed to privatise subsidiary Shreyas Shipping taking it off two stock exchanges in India. Transworld said the decision was made to give it greater operational and financial flexibility over its Indian liner subsidiary. Sivaswamy Ramakrishnan, chairman of the...
https://splash247.com/transworld-completes-shreyas-privatisation-process/
The daily deficit of water at the Gatun reservoir in the centre of the Panama Canal is the equivalent of 1,200 Olympic-sized swimming pools, with the canal’s administrators warning yesterday that water levels at the lake are at their lowest levels ever recorded during a rainy season. The Gatun...
South Korea’s Sinokor Merchant Marine has been named as the seller of three 2016-built capesize bulk carriers in two separate deals worth a total of nearly $130m. Xclusiv Shipbrokers have linked the Seoul-based owner to a double sale of scrubbed-fitted Chow and Comanche (pictured) to clients of...
Lloyd’s Register (LR), Cargill International, Minerva Dry and Nantong COSCO KHI Ship Engineering Co (NACKS) have collaborated on the design of a kamsarmax bulk carrier with methanol and rotor sail capability. Chris Hughes, decarbonisation specialist at Cargill, praised the team’s willingness to...
https://splash247.com/methanol-fuelled-kamsarmax-project-takes-shape/
Chinese owners AVIC Leasing and Zhejiang Jinpu have signed up for fresh dry bulk tonnage at compatriot yards. The leasing arm of Aviation Industry Corporation of China has returned to New Dayang Shipbuilding for four more 63,000 dwt ultramax newbuilds, lifting its orderbook at the yard to six. The...
https://splash247.com/avic-leasing-and-zhejiang-jinpu-book-bulker-newbuilds/
Peter Norborg-led Swire Bulk has decided it is time to prune its fleet. The 25-ship strong player is widely reported to be selling three open-hatch bulkers for close to $60m. Sources widely tip JP Morgan to be the highest bidder for the ships. The trio in question were built at Chengxi Shipyard in...
Ships are coming in and out of Ukrainian Black Sea ports in increasing numbers – the country’s new shipping corridor hugging its coastline and avoiding the Russian military proving effective. In the middle of July Russia pulled out of the Black Sea Grain Initiative, a United Nations-brokered...
https://splash247.com/ukraines-new-shipping-corridor-welcomes-more-vessels/
Two of the main shipping segments which have disappointed the most earnings-wise this year have resorted to slowing their ships down considerably this year. According to Clarksons Research ships in the the containership and bulk carrier sectors have travelled at record slow speeds this year....
https://splash247.com/bulk-carriers-and-containerships-moving-at-slowest-speeds-on-record-this-year/
Greek shipowner George Economou has revealed a significant stake in another fellow shipowner. The latest move is on the Nasdaq-listed bulker owner OceanPal, according to a regulatory filing with the US Securities and Exchange Commission. Economou’s investment vehicle, Sphinx, a subsidiary of...
https://splash247.com/economou-moves-on-another-palios-company-with-oceanpal-stake/
Ukraine’s Black Sea operations have a massive trench to climb out of if Europe’s ‘bread basket’ is to get back to exporting grains to levels seen earlier in the year when a United Nations-brokered shipping pact with Russia was still in existence. In July Russia backed out of the 12-month-old Black...
https://splash247.com/grain-mountain-to-climb-ukraines-battle-to-ship-out-its-harvest/