Casualties – Livestock Carrier AL BADRI 1 sank – 12.06.2022
On Sunday 12th June the 1973 built TZA flag livestock carrier AL BADRI 1 carrying around 16,000 sheep capsized and sank at her berth at Suakin Port, Sudan. All crew members escaped safely, but almost all of the cargo was lost. The loss of the vessel may affect the port’s operations, as well as the environment, given […]
Greek Shipping – Festival Cruises Liner MISTRAL
Festival Cruises (known as First European Cruises or First Choice Cruises in North America) was a Greece based cruise line that operated between 1994 and 2004. It was founded in 1992 by the Greek entrepreneur George Poulides using second-hand ships. The company acquired three newbuilt ships between 1999 and 2002, but was forced to declare bankruptcy in 2004. Festival Cruises acquired their first […]
Broken Up – Offshore Tug/Supply Vessel THOR I – September 2021
The 35 year old offshore tug/supply ship THOR I was broken up in Chittagong, Bangladesh on Tuesday 21st September 2021. She was built on 1st June 1986 by Orskov Yard at Frederikshavn in Denmark as CHALLENGER III trading for 3 months where she was renamed as OIL CHALLENGER by Ocean Inchcape trading for 5 years […]
Research – Axxis Geo Solutions to sell NEPTUNE NAIAD – 10.05.2021
Financially troubled seismic player Axxis Geo Solutions has entered into an agreement with Sanco Holding regarding the sale of the 2002 built survey vessel NEPTUNE NAIAD. NEPTUNE NAIAD entering Grand Harbour, Malta back to 26th June, 2019 Furthermore, Axxis Production, a wholly owned subsidiary of Axxis, has entered into a time charter for the 2008 built […]
Offshore – Vantage Drilling to manage Oil Exploration Units for Seadrill Partners – 22.03.2021
Vantage Drilling International has entered into an agreement with Seadrill Partners which will see Vantage will provide management , operating and marketing services to Seadrill Partners. The agreement relates to drill ships WEST CAPELLA and WEST POLARIS and the semi-submersible drilling rigs (ssdr) WEST LEO and WEST SIRIUS. Seadrill Partners is currently being reorganised after filing […]
Yachting – Bankrupt Perini Navi to be rescued by Ferretti Group and Sanlorenzo joint venture – February 2021
PERINI NAVI was declared bankrupt by the Court of Lucca, Italy on 29th January 2021. Through the NewCo, Ferretti Group and Sanlorenzo have expressed their goals of putting forward a bid that details the acquisition of Perini Navi’s Italian brands, assets and all operations, as well as through a preliminary business branch lease. This way, the collaboration of these […]
Offshore – Hornbeck Offshore files for Chapter 11 – 19.05.2020
On 19th May, 2020 Hornbeck Offshore Services Inc. (HOS) filed for bankruptcy in the Southern District of Texas, USA and will implement a pre-packaged Chapter 11 restructuring support agreement with lenders that was agreed to in April. Secured lenders hold approximately 83% of the Covington, La based offshore service vessel operator’s aggregate secured debt and unsecured […]
Bankruptcy – RBD Armatori’s fleet bound for Reuben Brothers and Premuda – 17.01.2020
With the approval by the Court of Torre Annunziata of RBD Armatori’s bankruptcy plan arrived yesterday Thursday 16th January, 2020, the long story of the Naples based shipping firm has come to an end. The entire fleet of 7 bulk carriers including four post panamaxes and three capesize units, one aframax tanker and some real […]
Cruise Liners – VICTORY I
VICTORY I built in 2001 by Atlantic Marine, USA is the former SAINT LAURENT trading until 2015 of which was initially owned by the company Haimark Line (subsidiary of the luxury river cruise tour operator Haimark Travel). Haimark declared bankruptcy in the end of 2015. Currently, the ship is owned by Clipper Group and chartered to Victory […]
