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China’s port operator Cosco Group (Hong Kong) Limited has signed an agreement on April 8, 2016 with the TAIPED (Hellenic Republic Asset Development Fund) for the transfer of a majority stake in Piraeus Port Authority, local media reported. Cosco...

Brokers report the German powerhouse Oldendorff has just offloaded the 53,700 dwt Sapphire Seas, built 2005. The ship comes from this Christmas’s bank sale from troubled Paragon Shipping’s fleet, and has only been with Oldendorf long enough to...

Rio de Janeiro, March 07, 2016 – Vale S.A. (“Vale”) announces that it has signed a Memorandum of Understanding (the “MoU”) with Australia’s Fortescue Metals Group Ltd. (“Fortescue”). The MoU sets out the...

MITSUI OSK Lines has announced plans to establish two new business units as part of its restructuring process in an attempt to weather the current downturn in the dry bulk market. The two new business units — dry bulk and energy transport — will be...

One of the world’s best known classification executives Tor Svensen is retiring from his position as evp of DNV GL, from 1 August. Svensen will remain working within shipping industry, including as a Professor at the University of Strathclyde...

Greece-based dry bulk shipping company Star Bulk Carriers Corp. has entered into a Capesize Chartering Ltd (CCL) pooling agreement for nine of its Capesize dry bulkers. The deal was signed with three companies, namely, Bocimar International NV...

In response to the current freight rates in the dry bulk shipping industry, Japanese shipping company Nippon Yusen Kaisha (NYK Line) is planning to take a number of its Capesize bulkers out of service for a period of months, or even years, until...

Classification society ABS has promoted London-based Dr. Kirsi Tikka to the role of executive vp – global marine, thereby centralising its strategic planning, client development, and product and service offerings. Tikka will be assisted by market...