Skudeneshavn, Norway, headquartered Solstad Offshore ASA reported yesterday that a majority of its creditors — including secured lenders, leasing companies, industrial shareholders and key bondholders — have established a common plan to
JUNE 17, 2013—Old Navy ships don’t die, they are reborn as girders, washing machines or razor blades. That could be the future for the decommissioned Cimarron Class fleet oiler USS Merrimack, which
Online valuation and market intelligence provider VesselsValue says that 2021 saw significant trends and changes in the shipping industry that combined to result in a diverse demolition market. Last year saw 704
Online valuation and data provider VesselsValue reports that the first half of 2021 saw 275 cargo vessels sold for scrap, up 40% and 33% compared to 2020 and 2019, respectively. The 275
JUNE 13, 2012 — Mitsui O.S.K. Lines, Ltd. (MOL) has announced plans to send 10 to 20 Capesize bulkers for scrapping or into cold lay-up. The move is in response to this
By Damien Bertin, Business Director, Opsealog Amid the escalating demand, the industry faces offshore support vessel (OSV) shortages, many of which were scrapped or withdrawn from the market during the pandemic. The
A complex scheme to evade U.S. Iran sanctions has not turned out too well for onetime tanker owner Behrouz Mokhtari, 72, of McLean, Va. This week, he was sentenced to 41 months
By Luke de Freitas, Head of Silverstream’s Retrofit Delivery Unit Retrofitting verified clean technologies is an imperative to ensure continuity of service for the enormous global internationally-trading fleet. The existing commercial fleet cannot
One place to look for early signs of market trends is the vessel S&P (sales & purchase) market and Coupeville, Washington, based shipbroker Marcon International has just published its data-packed March 2022
Looking for what’s ahead in the dry bulk shipping markets? The thermometer usually used to measure the health of the dry bulk market is the Baltic Dry Index, and through the first
