Navios Purchases Four LR2 Tankers for $250 Million
Angeliki Frangou’s Navios Maritime Partners (NYSE: NMM) has agreed to purchase four newbuild 115,000 dwt LR2 tankers. The vessels are being acquired for a purchase price of $58.5 million each,...
Stad Skipstunnel gets approved by Norwegian Kystverket
Stad Skipstunnel has been approved by Kystverket which means it might be completed by 2014. 90% of all the ship traffic will go through this tunnel, passing the Stad area in southwestern Norway, one the most dangerous shipping routes in Norway which have claimed many lifes through the years. The tunnel will be 1800m long passing under a penninsula with 500m tall mountains above. Price is estimated to around 2 billion NOK.
The worlds first shipping tunnel will become a tourist attraction, something Hurtigruten (Norwegian Coastal Express Cruices) will earn good of and the local area.
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