Hapag completes $414m capital increase

Hapag-Lloyd has successfully completed its EUR 352m ($414m) fundraiser launched last month. A vast majority of 96.5% of existing shareholders exercised their subscription rights and bought more than 11.5m shares for EUR 30 each. The new shares will carry full dividend rights as of 1 January and the company’s share capital will be increased to […]

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Lomar expects "considerable damage"

Shipowner says Kea Trader will be assessed once it has been refloated as container removal gears up. Lomar Shipping is expecting “considerable damage” to its newly built boxship that grounded in the Pacific Ocean last month. The 2,194-teu Kea Trader (built 2017) got stuck on a reef off New Caledonia on 12 July. A spokesman […]

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GC Rieber slashes loss as Berg takes charge

Norwegian offshore vessel owner reduces red ink on the back of higher utilisation. GC Rieber Shipping has chopped its first-half loss thanks to higher utilisation as new boss Christian Berg takes the helm today. The Oslo-listed owner reported a normalised net deficit of NOK 60.8m ($7.6m), compared to NOK 89.3m in the previous year. This […]

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TOTE unveiled as buyer of Philly newbuildings

US owner and compatriot shipbuilder confirm project for boxship quartet. TOTE Maritime has emerged as the “blue-chip operating company” behind an order for four containerships at Philly Shipyard. Both outfits confirmed today that they are jointly working on the project. Philly Shipyard announced the letter of intent (LOI) for the construction of four ships a […]

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LR joins sailing car carrier project

Classification society will work with Germany’s Sailing Cargo to develop innovative ship design. Hamburg-based Sailing Cargo has teamed up with Lloyd’s Register (LR) to deliver the world’s biggest sailing cargo ship. The Quadriga project involves the construction of a 170-metre car carrier, equipped with four DynaRig masts that will operate on hybrid propulsion with sails […]

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Complex removal of Kea Trader boxes begins

Lomar Shipping says this task could take months after successfully completing the lightering of the ship. Around 750 tonnes of oil from a grounded Lomar Shipping containership have been extracted and the focus has now shifted to the removal of containers that could take several months. The London-based company said two helicopters were used to […]

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