Regions

Fallout from the Covid-19 pandemic has had a strong impact on banks and non-bank lenders to the shipping industry, and despite the ongoing upgrading of the Greek fleet lending to Greek shipowners remains pretty much steady.

The Chliean logistics, port and towage group SAAM has placed a total of UF1.2m ($42m) in bonds with a listing on the Santiago Stock Exchange.

The container volume of eight major Chinese ports increased 2.5% year-on-year during the period of mid-June.

Dry bulk owner GoodBulk has reached an agreement with its banks to seal a $200m refinancing deal for its fleet.

Nasdaq-listed Castor Maritime Inc. has announced the pricing of an upsized $18m underwritten public offering of 51.4m units at a price of $0.35 per unit.

The legal landscape in shipping resulting from the Covid-19 pandemic is very different from the last global crisis in 2008 according to Ince senior global partner Julian Clark.

Mitsui OSK Lines (MOL) plans to shrink its fleet size by a maximum of 40 ships as it looks to reduce market exposure as part of a ‘crisis response’ amid the coronavirus (COVID-19) pandemic.

South Korea’s Hyundai Heavy Industries (HHI) has announced plans to merge its shipbuilding and offshore units to streamline operations by 20%, reports said.

Chinese port equipment manufacturer, Shanghai Zhenhua Heavy Industries (ZPMC) has won a bid for port vehicles from Transnet Port Terminals in South Africa.

The pace of uptake for remote maritime surveys may be challenged by a lack of industry standardisation and awareness, and Singapore is looking to address this challenge by launching an open call for a Joint Industry Project (JIP).