Sainty Marine defaults on more bank loans

Shenzhen-listed Sainty Marine has reported additional defaults on an aggregate of CNY57.3 million (USD9.2 million) bank loans as a result of tight liquidity.
A stock filing of the company said on 8 May that the company could not repay the outstanding bank loans that were due on 6 May and 7 May as

Yokohama throughput steady in February

The cargo traffic at Japan’s port of Yokohama remained flat year on year (y/y) in February at 9.53 million tonnes, according to figures released by the Yokohama municipal government on 7 May.
Of the 9.53 million tonnes, 5.86 million tonnes came from foreign trade, up 2.3% y/y, and the remaining

Blue Whales “Play Dead” for Ships

By Wendy Laursen 2015-05-07 20:28:27 They could easily swim away; they could easily dive below; but instead it seems that blue whales play dead when a ship approaches, and in doing so, they leave themselves vulnerable to ship strike. U.S. Stanford University researcher Dr Jeremy Goldbogen claims the first direct observations of blue whales attempting…


First Hand Account of Alang Shipbreaking

By MarEx 2015-05-07 19:35:57 The Danish Shipowners’ Association has visited the notorious Alang Beach in India, where large numbers of ships end their days. It would appear that positive developments are underway in some of the scrapping facilities. Breaking up a scrapped cargo ship, which can measure over one hundred meters in length and consist…


Dredging of Damaged Hudson River Begins Again

By MarEx 2015-05-07 16:48:07 Today, U.S. Environmental Protection Agency Regional Administrator Judith A. Enck announced the start of the sixth, and final, season of dredging of PCB-contaminated sediments from the bottom of the Hudson River. The historic dredging project – one of the largest and most complex cleanups in Superfund history – began in 2009.…


Italian Navy Increases Its Armada

By Kathryn Stone 2015-05-07 16:31:26 The Italian navy announced a €3.5 billion ($ 3.9 billion) order today for six multipurpose offshore patrol ships and one logistic support ship in order to renew its fleet. Italian shipbuilder Fincantieri will receive a €2.3 billion ($2.6 billion) share of the work and defense group Finmeccanica will be responsible…