Finance

File Image: Navios Maritime Containers

Navios Maritime Containers Acquires Boxship

 Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.

© NS Photography / Adobe Stock

Capesize Rates Pull Baltic Index to 4-month Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year.

Photo: Peter Gramstrup / Norden

Norden Boosts Earnings Expectations

 Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million.

Ibrahim (Ibo) Cördük (Photo: Dan-Bunkering)

Dan-Bunkering Promotes Cördük

A/S Dan-Bunkering Ltd. has announced the promotion of Ibrahim (Ibo) Cördük to Senior Bunker Trader effective January 9, 2018.   Cördük originally joined Dan-Bunkering’s Middelfart office in 2008, thus

Bryceon Sumner (Photo: Foss)

Foss Names Sumner CFO

Bryceon Sumner has joined Foss Maritime as chief financial officer, hired to oversee all aspects of the organization's financial function and performance. Sumner brings to the role years of experience

(File photo: Teekay Corporation)

Baltic Exchange to Develop LNG Freight Index

The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday.

© torsakarin / Adobe Stock

INTTRA Innovates with Information for Measurable Improvements

Digital transactions for the ocean shipping industry have arrived. Are you part of it yet?   It may well be true that INTTRA is today the largest neutral electronic transaction platform, software and

New vessels being built by Hyundai Mipo Dockyard will be used to cater to the growing demand for the import of essential grains into Saudi Arabia. Photo: Bahri Dry Bulk

Bahri Dry Bulk Secures Newbuild Finance

 Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia.

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Port Hedland May Clear Ships as Storm Builds off Australia

Giant iron ore port may close as Australian storm builds.   Vessels may be cleared from Australia's Port Hedland, the world's biggest iron ore export terminal, as early as Thursday as a safety precaution because of a tropical storm,

Photo: SEA\LNG

Socgen Joins SEA\LNG

 French multinational banking and financial services company Societe Generale (Socgen) has joined SEA\LNG, the industry coalition promoting the use of liquefied natural gas (LNG) as a marine fuel. The

Photo: DP World

DP World to Invest $1bn in Expansion

 DP World is planning to annually inject up to $1 billion in global investments until 2020, local media quoted company chairman and CEO Sultan Ahmed Bin Sulayem as saying.   The expansion at Prince Rupert in Canada opened for business.