Standard Chartered Bank, together with Rabobank and ING Wholesale Banking, have announced details of a US$125 million loan facility for Sharjah-based Lamnalco Group. Standard Chartered Bank acted as structuring bank for the facility, which was lead arranged by the three banks. Lamnalco Group is a gl
The body of a Somali pirate who reportedly drowned soon after receiving a huge ransom has washed ashore with $153,000 in cash, his uncle says. The man was one of a group of pirates who seized the Saudi supertanker Sirius Star in November. They reportedly received $3m (£1.95m) for freeing the tanker
A Greek shipping magnate has been kidnapped at gunpoint near his home on the outskirts of Athens, police say. Pericles Panagopoulos was abducted, along with his driver, after their car was deliberately blocked in the seaside suburb of Kavouri. The two men were bundled into another vehicle, though th
A.P. Møller – Mærsk A/S is reorganising its headquarters into two distinct units – a Corporate Centre and service functions. The Corporate Centre will focus on a number of Group governance activities like accounting, finance, IT, corporate relations and Human Resources. The service functions will su
The maritime consulting and software companies Friendship Consulting GmbH and Friendship Systems GmbH are now members of the Germanischer Lloyd Group. The acquisition of the business operations of Friendship Consulting serves to expand GL’s palette of advisory services for shipping companies, yards
It is now a full decade since Van der Velden Barkemeyer (formerly Barkemeyer Schiffstechnik GmbH) joined Van der Velden Marine Systems and formed the group’s dedicated Oceangoing vessels division. Just moved from Reinbek to Glinde (near Hamburg, Germany), the past ten years have seen Van der Velden
It’s a dream boat: The M/S Scenic Emerald, the largest freshwater cruiser on the river Elbe, certainly lives up to the highest of standards. In keeping with this, equally high are the requirements concerning the quality of equipment onboard the luxury cruise liner. For a perfect visual appearance wh
Moonen Shipyards, a leading builder of pocket-size superyachts, announces the November launch of Sofia II, the second in its brand-new line of 97-foot steel-hulled displacement cruisers. Built for repeat clients (the original Sofia was a Moonen 84), she follows the first yacht in the series, Darsea,
Germanischer Lloyd (GL) has developed a guide outlining major methods and procedures involved in ship lay-ups. The guide gives technical assistance to shipowners focussing on the maintenance of class, ship’s safety as well as the maintenance of operability. Deactivating vessels in an effort to save
A 44-metre-high-performance planing yacht: that’s the new design from Francesco Paszkowski Design for Baglietto. The innovative yacht is the basis for another new model – the 34-metre Carbon. As well as the shaping lines of the third in the 44-metre series, Francesco Paszkowski Design also handled t
The biggest containership ever classed by Germanischer Lloyd (GL) was delivered in mid-December at Samsung Heavy Industry Shipyard in Geoje, Korea. The newbuilding named MSC DANIELA has a capacity of 13,800 TEU. MSC DANIELA is exceptional not only in terms of size, but also in its design aspects. To
Germanischer Lloyd (GL) is the first foreign classification society to be granted the right to carry out statutory duties on Polish-flagged vessels. Polish shipowners can now choose GL as their recognized organization, and thus profit from the worldwide network of surveyors and the society’s long-ti
SMIT’s profit for the second half of the financial year 2008 is set to exceed the expectations given at the presentation of the company’s half year results in August. The company is expected to obtain net profit for 2008 that will be equal to that achieved in 2007. The profits of the Transport & Hea
After the presentation at the last Monaco Yacht Show of the first SD 122 — a composite semi-displacement yacht by Sanlorenzo nearly 38 meters in length — Francesco Paszkowski Design is now working on the second semi-displacement yacht in the series and is also responsible for its interiors. It is an
