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Monthly Archives: October 2017

GoodBulk Acquires up to 13 Capesize Vessels

GoodBulk, an owner and operator of dry bulk vessels announced that it has entered into an agreement to acquire 7 to 13 Capesize dry bulk carriers from entities managed by CarVal Investors. Delivery of the vessels is expected to occur during the 4th Quarter of 2017 and the 1st  Quarter of 2018.
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Cosco Ports Q3 volume up 17%

Cosco Shipping Ports saw third quarter throughput rise 16.6% to 23.10m TEU from 19.81m TEU in the previous corresponding period. "Driven by the growth of international trade and the supports from shipping alliances and shipping fleets of parent company…
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Attica Buys Grimaldi Stake in Hellenic Seaways

Attica Group has announced that it reached an agreement with Minoan Lines, owned by Naples-based Grimaldi Group, for the acquisition of its 48.53 percent stake in Hellenic Seaways. According to an announcement, the agreement provides for Attica…
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OOIL Sees Revenues Rise in Q3

Orient Overseas (International) Limited (OOIL)  total volumes were 5.0% up for the third quarter of 2017 (ended 30th September 2017), from that of the same period last year. Total revenues increased by 26.5% to US Dollars 1,453.4 million. Loadable capacity increased by 9.0%.
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WFW Advises BPM on Navigazione Refinancing

International law firm Watson Farley & Williams (WFW) advised Banca Popolare di Milano S.p.A. (BPM) regarding a US$28.8m loan facility granted to L.G.R. di Navigazione and secured by, inter alia, mortgages over two medium range ice class tankers, the “Cenito” and “Posillipo”.
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Pangaea Adds Vessel

Pangaea Logistics Solutions has executed a memorandum of agreement to purchase  the vessel M/V Tenmyo Maru, 58,749 dwt., built in November 2008 at Tsuneishi Group (Zhoushan) Shipyard. The ship is expected to be delivered from its present owners in December, and will be re-named Bulk Pride.
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Ship Operating Costs to Increase for 2017 and 2018

Vessel operating costs are expected to rise in both 2017 and 2018, according to Moore Stephens' survey. Repairs & maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey…
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