SRTS News

Nikolas Pateras and his 2015-founded Contships Management has embarked on a feeder buying frenzy. Pateras, an adept asset player who sold off his Pacific & Atlantic Corp 50-strong bulker fleet before the 2008 crash, has identified feeder ships as a strong growth area pricing-wise. Brokers are tipping Contships Management as ... read more

The UK’s Marine Accident Incident Branch (MAIB) has released its reports into one of the most high profile accidents of 2017. At 1137 on May 4 last year, the UK registered container ship made heavy contact with the quay and two shore cranes while under pilotage during its arrival at ... read more

The first creditors’ meeting concerning the insolvency of the German shipping container lessor P&R took place in Munich yesterday, in which it emerged the leasor sold around 1m containers that actually did not exist, making the scam one of the largest economic scandals in German post-war history. Based in Grünwald ... read more

The strong performance in the secondhand dry bulk sale and purchase market continues for yet another week, coupled with the positive performance in almost all bulker chartering segments, while activities in the tanker sale and purchase market has scaled back. According to Alibra’s weekly report, although there has been little ... read more

Japanese owners Iino Kaiun Kaisha, Tabuchi Kaiun and Komaya Shipping have ordered a total of five small scale LPG carriers in total at three domestic yards. According to shipbroking sources, Iino Kaiun has ordered three 1,800 cu m LPG carriers at Shin Kurushima Dockyard with delivery scheduled in 2020. Meanwhile, ... read more

The 73rd meeting of the Marine Environment Protection Committee (MEPC) will take place at the London headquarters of the International Maritime Organization (IMO) next week and pressure is building to deliver some concrete commitments to decarbonise the industry. The gathering will be the first United Nations multilateral meeting to address ... read more

Hundreds of workers protested yesterday at the Gadani shipbreaking site in Pakistan, demanding firm action be taken to improve conditions at one of the most dangerous shipping locations in the world. Pakistan’s main shipbreaking area suffered another blaze inside a beached tanker, which injured seven workers on Sunday. Officials had ... read more

Subsea operator DeepOcean has been awarded a contract for the provision of post-lay trenching services along 65km of umbilical offshore Australia. Work is expected to commence late this year, and will utilise the company’s T1 trencher. Andrew Piasecki, commercial director cable lay and trenching at DeppOcean, commented: “We are extremely ... read more

J Mintzmyer from US-based Value Investor’s Edge is so confident that shares in NASDAQ-listed Golar LNG are set to soar that he has put money on the table for anyone who proves him wrong. Mintzmyer last month christened NASDAQ-listed Golar LNG as the “stock of the decade” as global LNG ... read more

Greek dry bulk owner Diana Shipping has extended the current time charter contract with Glencore for 2013-built kamsarmax bulker . The new contract commenced this week and is for a period of 14-17 months at a gross rate of $14,250 per day. Previously, Glencore was paying $9,000 per day for ... read more

APM Terminals have reached an agreement to divest its container terminal in Izmir, Turkey to its current partner SOCAR. In the new structure, operating company Petlim will be fully owned by SOCAR Turkey, and will continue to be managed by APM Terminals. The terminal, which will be named Petlim Container ... read more

Norwegian OSV operator Olympic Shipping has sold its 1999-built PSV . The vessel has been delivered to the new owner on October 16. Following the sales, the company’s fleet will be reduced to six vessels, made up of three PSVs and three AHTS vessels. ... read more

Chinese owner Rewood Ocean Shipping (ROSCO) has listed its entire fleet for sale again, having failed to conclude a deal to sell the vessels in May. John Michael Radziwill was linked by brokers to a $177m fleet deal in February, however in May the vessels were back on the market ... read more

A decade since it last dabbled in the KG markets, Germany’s Oltmann Group has launched a new investment scheme to invest in a new MPP ship for Leer-based Reederei Briese. Oltmann is seeking investments of up to EUR8.7m with a minimun participation of EUR20,000 and claims the investments will deliver ... read more

Shipmanagement giant V.Group continues its growth by acquisition strategy, signing a deal with Germany’s Norddeutsche Vermögen Group to acquire Norddeutsche Reederei H. Schuldt. V.Group hailed the transaction as a major step forward in delivering consolidation of commercial and technical management in the container segment in Germany. Based in Hamburg, Norddeutsche ... read more

With shippers increasingly concerned about liners’ planned bunker surcharges ahead of the global sulphur cap consultancy Drewry has introduced a new BAF formula and fuel cost benchmarking service. In cooperation with both shipper members of the Drewry Benchmarking Club and other parties, Drewry has developed an IMO low-sulphur rule, Cost ... read more

The International Chamber of Shipping (ICS) has released a new study conducted by the Hamburg School of Business Administration (HSBA) on behalf of ICS, regarding the potential effects of autonomous ships on the role of seafarers and the global shipping industry. The good news for seafarers eminating from the study ... read more

Dubai’s Gulf Energy Maritime (GEM) has put three chemical tankers up for sale. The sister ships Gulf Moon, Gulf Mist and Gulf Mews are all zinc coated, 37,000 dwt tankers built at Hyundai Mipo in South Korea 11 years ago. The sale would mark GEM’s exit from the handysize tanker ... read more

Taiwanese conglomerate Formosa Plastics is having a fleet clear-out with a host of different ship types put in the shop window in recent weeks. The company, the world’s sixth-largest chemical producer by chemical sales, has let go of two of its oldest long range tankers. The two 70,400-dwt sized & ... read more

A Canadian crew member from handysize bulk carrier died after he fell off the ship into the St. Lawrence Seaway on Tuesday. According to local reports, the 57-year-old Canadian man lost his balance and fell into the water while he was tying the ship off prior to entering the Eisenhower ... read more