CIT, a division of First Citizens Bank, today announced that its Maritime Finance business provided $80 million to refinance two Korean-built containerships operated by Seamax Capital. Founded in 2012 to make investments
Ever since the age of sail, cargo ships have followed the same operational practice: “sail fast, then wait” (SFTW). Ships sail to their destination at their service speed, without regard for the
Though the latest meeting of IMO’s Marine Environmental Protection was widely criticized for taking “just baby steps” on decarbonization, some of those steps still place a significant compliance burden on shipowners. For
Another major player is working around the logjams in the container shipping business by securing its own ships — and using general cargo vessels to carry containers. Lowell, Ark., based J.B. Hunt
Sweden’s AtoB@C Shipping, a subsidiary of Aspo Group’s ESL Shipping, has declared an option for an additional electric-hybrid ice class 1A bulker from Indian shipyard Chowgule & Company Private Limited. AtoB@C placed
Singapore-based Berge Bulk is to retrofit the 210,000 dwt, 2018-built bulk carrier Berge Olympus with four BARTech WindWings by Yara Marine Technologies. The large, solid wing sails will measure up to 50
The Russian invasion of Ukraine is stifling the trade and logistics of Ukraine and the Black Sea region, increasing global vessel demand and the cost of shipping around the world. In a
Carnival Corporation & plc (NYSE/LSE: CCL;NYSE: CUK), the world’s largest cruise company, today released its second quarter business update and though there was plenty of red ink splashing around, investors liked the
The board of the International Chamber of Shipping (ICS), representing 80% of the world’s merchant fleet, yesterday appointed Emanuele Grimaldi, president and managing director of Grimaldi Euromed SpA, as its chairman. Grimaldi,
Liverpool, U.K., headquartered consultancy Brookes Bell has appointed Karley Smith as its first female master mariner consultant. The firm offers a range of master mariner services, employing a team of master mariners