"Berge Fjord" out of command near nuclear plant

The "Berge Fjord", suffered an engine loss on the Elbe in the foremidday of Mar 11, 2011, but could be stopped in time by an emergency anchoring off the nuclear plant Brunsbuettel after engine loss.
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Source: Sea News

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Somali pirate: I made $2.4 mln from ransoms in 2010

Only two years after deciding to join in the piracy rampant off the Somalian coast, Saeed Yare is a dollar multi-millionaire.
Leaning against the door of his luxury Toyota Landcruiser, one of the latest models in the seaside town of Bosasso, the Yare puffs on a cigarette.
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Source: Reuters

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Shipping Corp. of India to Purchase Two Used Bulk Vessels as Prices Plunge

Shipping Corp. of India Ltd., the nation’s largest sea-cargo carrier, will buy two second-hand supramax dry-bulk vessels by the end of the month as prices plunge amid a glut of new vessels.
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Source: Bloomberg

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OPEC Crude Shipments to Fall for Fifth Week, Oil Movements Says

The Organization of Petroleum Exporting Countries will reduce crude exports for a fifth time in the four weeks through March 26, according to tanker-tracker Oil Movements.
Loadings will drop to 23.56 million barrels a day in the period, down 1.3 percent from 23.88 million barrels a day in the four weeks to Feb. 26, the Halifax, England-based company said in a report.
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Source: Bloomberg

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Maersk Line Won't Cut Ship Speeds as Oil Costs Jump, CEO Says

Maersk Line, the world’s largest container shipping company, won’t cut sailing speeds further to reduce fuel costs, even after oil prices jumped 15 percent this year, Chief Executive Officer Eivind Kolding said.
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Source: Bloomberg

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Star Bulk Enters Into a New Time Charter for the Star Gamma

Star Bulk Carriers Corp. announced that the Company received a letter from Korea Line Corporation ("KLC"), the charterers of the Star Gamma ("the vessel'), announcing the termination of the charterparty, effective immediately. No hire has been received since the Company's public announcement on February 22, 2011 informing shareholders that KLC had commenced rehabilitation proceedings in Korea. The Company will do its utmost to secure the value of the terminated charterparty. Following the termination, the Company immediately entered into a time charter contract with STX Pan Ocean for the vessel for a period of 4-6 months , at a gross daily rate of $17,000. The Star Gamma is a Supramax vessel of 53,098 dwt built in 2002.
Source: Press Release

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SAL Schiffahrtskontor Altes Land puts Lone into service

SAL Schiffahrtskontor Altes Land has put the newbuilding ‘Lone’ into service.
Just three months after the German-based heavy lift shipping company sent Svenja - the world’s largest heavy lift vessel - on its maiden voyage, the company’s fleet has now been expanded by a second vessel of the same, Type 183 .
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Source: Heavy Lift

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How Japan's earthquake caused a tsunami

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Earthquake hotspots in the ring of fire

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