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People & Company News

ZEABORN Combines E.R. Schiffahrt and Rickmers

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The ZEABORN Group announced it has combined its two recently acquired Hamburg-based ship management companies to form one global brand, ZEABORN Ship Management GmbH & Cie. KG.Bremen-based ZEABORN Group has brought together Rickmers Shipmanagement, which was acquired by ZEABORN in September 2017, and E.

Students Face Off in Underwater Competition

Harbin Engineering University from China takes first place in the 2018 International RoboSub Competition. RoboSub is a robotics program where students design and build autonomous underwater vehicles to compete in a series of visual-and acoustic-based tasks. (Photo by Julianna Smith, RoboNation)

It was an exciting time in San Diego as nearly 50 high school and university teams from around the world made a splash at the 21st International RoboSub Competition at the Space and Naval Warfare Systems Center Pacific Transducer Evaluation Center, July 30 – August 3.The week-long autonomous submarine competition,

Enestas Boosts SEA\LNG’s Presence in Americas

Image: SEA\LNG

SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, announced that it has welcomed Mexico-based LNG company Enestas to its membership coalition.With the addition of Enestas, the SEA\LNG coalition bolsters its efforts to drive forward LNG as a marine fuel,

Yang Ming Sinks into Red

Image: Yang Ming Marine Transport Corporation

Taiwanese ocean carrier Yang Ming Marine Transport Corporation (Yang Ming) registered a net loss of  NTD3.81 billion (USD 129.1 million) for Q2.However, the Q2 consolidated revenues total NTD33.6 billion (USD1.14 billion) was up 1.12% from the same period in the previous year. The business volume of 1.

Hehr Named Security Director at Port of Long Beach

Casey Hehr (Photo: Port of Long Beach)

The Long Beach Board of Harbor Commissioners has appointed Casey Hehr to lead the Security Division at the nation’s second-busiest seaport.Hehr has been with the Port of Long Beach since November 2016, serving as the Assistant Director of Security. He has been the acting director of the division since March,

Hapag-Lloyd Deepens Cost Cut Drive after H1 Loss Widens

(Photo: Hapag-Lloyd)

German shipping company Hapag-Lloyd said it accelerated cost cuts in the first half of 2018 to offset higher operational costs from fuel costs, charter rates and a slow recovery in freight rates."We have implemented additional measures to recover these costs: we are critically reviewing the economic

WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker

Image: Watson Farley & Williams

Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.

Euronav Updates on Gener8 Merger

Image: Euronav

The acquisition of Gener8 resulted in the recognition of a gain on bargain purchase on business combination of USD 36.3 million being recorded in the consolidated statement of profit or loss in the second quarter, says Euronav.The largest NYSE listed independent crude oil tanker company in the world

Khaydukov Named President of PAO Novoship

Alexey Khaydukov (Photo: SCF Group)

The Board of Directors of Russian tanker shipping company PAO Novoship has elected Alexey Khaydukov as the company’s new President.Khaydukov replaces the firm’s previous President, Yury Tsvetkov, who stepped down from his role on August 8, 2018, following his appointment as a Deputy Minister of Transport of Russia,

d’Amico International Sells, Leaseback MT High Loyalty

Photo: d’Amico ?Società di Navigazione SpA

d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Loyalty, a 49,

MSC Cruises Pact for USD 1.7bln Loan for New Seaside EVO Ships

Image: MSC Cruises

Cruise liner MSC Cruises has reached an agreement for an EUR 1.5 billion (USD 1.74 billion) financing for two new Seaside EVO class cruise ships.BNP Paribas, Unicredit and Cassa Depositi e Prestiti will provide EUR 1.5bn in financing for two Seaside EVO class passengerships. The financing syndicate of lenders also include SACE SIMEST,

Trafigura to Build U.S. Deep-Water Oil Port

Image: Trafigura

Swiss commodities trader Trafigura has applied to build a deep-water port in Corpus Christi, Texas, on the Gulf of Mexico, which will be able to load supertankers, reports FT.The report said that the plan would see the commodity house build an offshore deepwater port facility  with a view to accommodate

WFW Advises ING Bank on USD 220mln Nine Vessel Financing

Photo: Consolidated Marine Management, a company of Latsco Shipping Ltd

Watson Farley & Williams (WFW) has advised ING Bank, London Branch (ING) in connection with a US$87m increase to a US$131m loan facility originally granted to Latsco Shipping Ltd (Latsco) to finance the construction of five new high-spec MR product tankers.The increase has been used to up the number of modern tankers being financed to nine,

Shipping Executive Focus: Art Regan, Executive Chairman, Genco Shipping & Trading

Art Regan, Executive Chairman, Genco Shipping & Trading. (Photo: Genco)

Art Regan, who has been the Executive Chairman at Genco Shipping and Trading (NYSE: GNK) since October 2016, personifies the new type of shipping executive, savvy on all things maritime (he is a graduate of SUNY Maritime College at Fort Schuyler) coupled with a keen understanding of market dynamics.

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