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Hurricane Maria Closes Ports in Puerto Rico, Virgin Islands

Puerto Rico and the US Virgin Islands are yet again closed to vessels as Hurricane Maria approaches the area, only two weeks after the previously set port condition ZULU. Effective 8 am local time on September 19, the Coast Guard Captain of the Port ...
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Brokers: Vale Tied to Up to 30 New Valemaxes

Brazilian miner Vale has been linked to a time charter deal for up to 30 Valemax newbuilds contracted from seven different companies. Under the long-term contracts of affreightment lasting up to 25 years, Chinese joint venture between ICBC Leasing an...
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Maersk Sells Maersk Tankers

Danish shipping and energy conglomerate A.P. Møller – Mærsk has today signed an agreement to sell Maersk Tankers to APMH Invest A/S, a subsidiary of A.P. Moller Holding for USD 1.17 billion in an all-cash transaction. A.P. Moller H...
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TEN’s Net Income Drops while Revenues Rise

Despite an increase in its voyage revenues for the period ended June 30, 2017, Greek tanker operator Tsakos Energy Navigation (TEN) saw a drop in its net income. Namely, for the first six months of 2017, TEN’s net income halved at USD 21.1 mill...
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Bahri (4030.SA) Seeing Increased Volatility in Session

Shares of Bahri (4030.SA) is moving on volatility today -0.16% or -0.05 from the open. The TADAWUL listed company saw a recent bid of 31.75 on ...Original link

Offen Group, DEVK Abandon Marenave

The existence of German shipping trust Marenave Schiffahrts comes once again into question as the proposed capital reduction – the condition for implementing the restructuring concept – has been rejected by key shareholders. At the annual...
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The Post-Hanjin Era: Freight Rate Truce Is Over

It has taken a whole year for all of the idle ships of South Korean defunct shipping company Hanjin Shipping to be fully removed from the idle fleet following the company’s demise, according to Alphaliner. The former South Korean shipping giant...
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Report: Palmali Files USD 2 Bn Claim against Litasco

Turkish shipping company Palmali has reportedly filed a claim against Litasco, the international marketing and trading company of Lukoil, worth up to USD 2 billion. The claim, lodged with the English High Court of Justice, stems from the al...
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More Troubles for DSME’s Orderbook?

South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME) said on Monday that its Memorandum of Understanding (MoU) with Iran for the construction of offshore plants has been terminated as no progress was achieved on the deal. The MoU, si...
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