(http://www.MaritimeCyprus.com) By Dennis L. Bryant. Traditionally, when a ship reached the end of its economic life, the owner sold it, often to a cash buyer, for scrapping with little consideration of the next step. Many ships ended up on a beach in south Asia (India, Pakistan, or Bangladesh) where they were cut apart and the…
When a cancelled order freed up nine slots at the Ulsan shipyard in South Korea in late 2007, the news set off a frenzy of activity 6,000 miles away in Hamburg. MPC Capital, keen not to lose the slots, scrambled to arrange finance for its latest set of funds. Within weeks, it had a US$1.1bn…
Dubai is looking into creating a $1 billion investment fund focused on shipping to develop the Gulf city’s maritime sector and ride out a global industry downturn, three finance sources familiar with the plans say. The sources said the Dubai Maritime City Authority, the government entity responsible for developing the maritime industry in the emirate,…
Marlow Navigation and Columbia have underlined their individual commitment to a digital agenda in quality shipmanagement by signing a ground-breaking partnership with Lufthansa Industry Solutions that will pave the way for a new era of blue sky thinking in the maritime sector. The agreement between Blue Dynamics – a cutting edge software company previously set…
Japanese ocean carrier Kawasaki Kisen Kaisha (“K” Line) will merge two of its ship management subsidiaries, Taiyo Nippon Kaisha and Escobal Japan, in July, the company said in a statement. According to “K” Line, the two companies will be merged in order to reorganize and consolidate the group’s management system in an effort to become…
In the latest series of round table debates, Ship Management International (SMI) drew together leaders of the Cyprus shipping cluster to discuss key issues facing shipping. Chaired by SMI Editorial Director Sean Moloney, panellists included Giles Heimann, Corporate Director Fleet Personnel, Bernhard Schulte Shipmanagement; Capt Eberhard Koch, Chairman, CEO and Partner of Oesterreichischer Lloyd Shipping;…
The Limassol-based Columbia Shipmanagement and Marlow Navigation, two of the largest ship management firms in the world, have announced recently that they have engaged in exploratory talks aiming at completing a merger. The proposed merger would create one of the “world’s largest” shipmanagement companies with the obvious synergies and greater efficiencies created to the benefit of current…
