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Dispatches No. 249
Trans-Atlantic Dry Bulk May See Recovery
By MarEx 2015-06-24 14:17:01 Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in ...
Odfjell Exits European Short Sea Market Following Sale
By MarEx 2015-06-24 13:52:09 Stolt Tankers B.V., a division of Stolt-Nielsen Limited, has been announced as the buyer for three parcel tankers sold by Odfjell Tankers AS. The sale marks Odfjell’s ...
UAE’s Topaz Eyes Expansion Amid Oil Slump
By Reuters 2015-06-24 12:24:41 Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the ...
27 Companies in Bid for Sewol Salvage Contract
By Kathryn Stone 2015-06-24 11:56:08 A total of 27 domestic and international companies have submitted bids to salvage the Sewol ferry that sank last year, killing over 300 people. Both South Korean ...
Moody’s upgrades China Merchants Holdings International rating
Moody's Investors Service has upgraded China Merchants Holdings International (CMHI)'s issuer and senior unsecured debt ratings to Baa1 from Baa2, with the rating outlook stable. "The upgrade of ...
Banks trade shipping debt as finance landscape changes
Banks have started to trade in the debt of their shipping customers, said Andy Georgiou head of global ship finance at Royal Bank of Scotland. This does not need to mean that the long-term business ...
Port of Calais Strike Ends, Border Security Prioritized
By MarEx 2015-06-24 09:11:29 French ferry workers at the Port of Calais have ended their strike against English Channel operator, MyFerryLink and operations at the port have resumed. Traffic through ...
Gothenburg to build SEK4 billion logistics park
The Swedish port of Gothenburg, the Nordic region's largest port, is to create a new 1 million m² logistics park with industry partners. It is expected to generate more than 2,000 jobs and be ...
MH370 search pause as GO Phoenix heads home
The Malaysian-contracted GO Phoenix has completed its contract as part of the underwater search fleet for the missing MH370 passenger jet. According to the 24 June weekly update from the Australian ...