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News & Updates

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VLCC Tanker on a High Roll

Despite the decline of tanker fixtures in the Middle East market, VLCC rates remained in positive territory through much of the past week, as the market continued to react to...

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Heerema Marine Axing 250 Jobs

Over 250 job cuts are planned within restructuring efforts announced on Tuesday by Heerema Marine Contractors (HMC), the Netherlands-headquartered owner of the crane vessels. The marine contractor said the restructuring was...

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OOCL’s Mega Boxship Grounds in Suez Canal

Orient Overseas Container Line’s (OOCL) new 21,000+ size containership briefly ran aground in the Suez Canal on October 18, the company confirmed to World Maritime News. The 21,413 TEU ultra large...

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Costamare Secures Loan, Reports Strong Quarter

Greece-based containership owner Costamare has entered into a loan agreement to finance the acquisition of 7,471 TEU containership, Maersk Kowloon. The 2005-built vessel was acquired in the previous quarter and commenced...

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Expectations drive the newbuilding market

Rosier outlook for the future of the shipping markets has prompted a series of renewed newbuilding ordering activity, with dry bulk carriers leading the foray. In its latest weekly report,...

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