Turkish general cargo ship sinks off Italy
Turkish general cargo ship sank over the weekend in the Mediterranean Sea around 25 nautical miles southeast off Sicily. The vessel, owned and operated by Kanlar Denizcilik, was en route from Dakar...
View ArticleNT Bunkering takes small chemical tanker from Finbeta
Tallinn-based NT Bunkering AS, part of the Russian group NT Bunkering, has acquired a small chemical tanker vessel from Italian shipping firm Finbeta. Earlier this week broking sources reported the...
View ArticleAncora Investment to offload tanker pair to Amoretti Armatori
Greece’s Ancora Investment Trust is selling a pair of 8,000 dwt oil/chemical tankers to Italy’s Amoretti Armatori. According to local media in Italy an agreement for the sale of the two vessels,...
View ArticleGlobeco close to sealing the resale of handymax newbuilding
Following news that emerged few weeks ago, Rome-based Globeco seems to be very close to signing a deal to offload its handymax bulk carrier under construction at Chinese shipyard Avic Weihai. Some ship...
View ArticleStrike cripples Gioia Tauro port as 442 workers set to be axed
The container terminal at Gioia Tauro has effectively been put out of service by a strike as workers protest against the decision taken by the terminal operator Medcenter Container Terminal to axe 442...
View ArticleAPM Terminals sells stake in Italy facility to Chinese partners
Cosco Shipping Ports and Qingdao Port International Development (Hong Kong) have purchased minority stake in a joint venture led by APM Terminals (APMT) that will operate facilities in Vado, northwest...
View ArticleIren Group puts share of OLT Offshore LNG terminal up for sale
A stake in Italy’s floating terminal OLT Offshore LNG Toscana will be put on the market for sale by Iren Group, which owns a 49.7% stake in the project. The other two shareholders are the energy group...
View ArticleGrimaldi ready to reflag its roro ships abroad
Naples-based Grimaldi Group is seriously considering to reflag all its ferries and roro ships deployed on the motorways of the seas to and from Italy to another EU country if new rules regarding the...
View ArticleSaipem cutting a further 800 jobs across Europe
Italian oil and gas giant Saipem has unveiled a new three-year strategic plan designed to help the company face continued challenging market conditions. Saipem says it will adopt a new, leaner, more...
View ArticleItaly’s shipping NPL market worth almost $10bn
While the overall amount of non-performing loans (NPLs) held by Italian banks has an estimated value of $350bn, the shipping sector accounts for almost $10bn. The statistic emerged during the finance...
View ArticleGrimaldi buys into TTT Lines
The year 2016 will be archived as another year of new investments for Grimaldi Group. The Naples-based company has just announced two important developments in Italy. “We have just bought into the...
View ArticleAugustea sheds bulkers
Italy’s Augustea is shedding dry bulk tonnage. The company controlled by the Zagari family has sold two bulk carriers: the panamax Pan Uno and the kamsarmax Abyo Oprah. The former will pass to...
View ArticleOldendorff takes new handymax from Globeco
Oldendorff Carriers goes on with its dry bulk shopping campaign adding a newly built handymax bulk carrier built by the Chinese shipyard Avic Weihai. The seller is the Italian shipping company Globeco...
View ArticleTaranto port vetoes terminal project backed by Eni and Gazprom
A special commission appointed by the port authority of Taranto in southern Italy has said no to a concession request by the Ulisse consortium, a joint venture interested in the Molo Settoriale...
View ArticleSaipem secures $1bn worth of new offshore contracts
Italian offshore service provider Saipem has announced that it has been awarded new contracts and change orders in the E&C Offshore segment totalling around $1bn. The most significant are awards by...
View ArticleBanchero: ‘It’s time to invest in dry bulk carriers’
The dry bulk market is ready to rebound. “Looking at the historical trend of the asset values and freight rates in the last four decades, I think there will be opportunities arising in the dry bulk...
View ArticleFincantieri bids to take Vard private
Italian shipbuilder Fincantieri has launched an offer for the shares of Vard Holdings that it doesn’t already own in a bid to take full control of the company and delist it from the Singapore Exchange....
View ArticlePillarstone eyes RBD Armatori
Naples-based RBD Armatori may be the second deal selected by Pillarstone in the Italian shipping market. The turnaround fund created by private equity giant KKR declined to comment on the issue but...
View ArticleD’Amico officer sentenced to eight months in prison for oil waste in the US
A senior engineering officer employed by d’Amico Shipping Italia was sentenced to eight months in prison for deliberately concealing a vessel’s discharge of oily waste into the sea. According to the...
View ArticleNova Marine Carriers and d’Amico offload handysize bulkers
Two Italian-controlled dry bulk ships are changing hands according to brokers. Lugano-based Nova Marine Carriers has just sold 2009-built handysize bulk carrier Sider Caribe to Greek interests. The...
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