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Feb 05, 2016

Moody’s: MOL’s Outlook Changed to Negative, K Line Up for Downgrade

Moody’s Japan K.K. has affirmed the Ba1 corporate family rating of Mitsui O.S.K. Lines, Ltd. (MOL) but it has changed the rating outlook to negative from stable. “The…

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Feb 04, 2016

Ship Owners Still Prefer South Asian Shipbreaking Practices

Ignoring industry leaders and human rights and environmental organisations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches…

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Feb 03, 2016

Kidnappings Double in 2015, IMB Says

As a result of five attacks off Nigeria, kidnappings doubled from nine in 2014 to 19 in 2015, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) said…

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Feb 02, 2016

Pirates Kidnap Five Tanker Crew Members

The 2003-built tanker Leon Dias was hijacked by pirates in the Gulf of Guinea, UK-based Clearwater Vessel Tracking confirmed to World Maritime News. “A tanker was underway…

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Feb 01, 2016

UPDATE: Modern Express Heading for Shore, Tow Attempt Unsuccessful

The drifting car carrier Modern Express is heading towards land and is now some 200 km away from Gironde, France, as weather continues to interfere with the salvage attempts,…

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Feb 01, 2016

Readers’ Picks of the Week (25th – 29th Jan, 2016)

VIDEO: 22 Evacuated as Car Carrier Lists in Bay of Biscay A crew of 22 people were evacuated after the Panama-flagged car carrier Modern Express started listing some 148 miles off Cape…

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Jan 30, 2016

Japan’s Big Three Downgrade Forecasts as They Post Losses

Japanese three shipping giants have all downgraded their expectations for the full-year consolidated results as they report losses in the third quarter of the fiscal year ending…

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Jan 29, 2016

CMA CGM Inks Deal with IRISL to Increase Presence in Iran

French container shipping company CMA CGM has signed a preliminary agreement with the Islamic Republic of Iran Shipping Lines (IRISL) which aims at increasing the company’s…

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Jan 28, 2016

Euronav Steers Back to Black amid Strong Tanker Market

Belgium’s shipping company Euronav NV has reported a net profit of USD 104.7 million in its non-audited financial results for the fourth quarter of 2015 against a net…

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Jan 27, 2016

Latvian Shipping Company Adding Tanker Trio

Latvian Shipping Company (LSC) is expanding its fleet with three tanker newbuildings in the first half of this year, the company said. Namely, LSC’s shipmanagement arm LSC…

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