by David Yong (Bloomberg) -- A Singapore provider of barges and tugs for coal, steel scrap and iron ores plans to ask bondholders for approval to delay paying S$50 million ($37 million) of securities due next month after appointing an external adviser to review its business. Marco Polo Marine Ltd. told some noteholders of the plan at a meeting Tuesday, and those present … [Read more...]
Sembcorp Marine, Marco Polo Marine Head to Arbitration Over Rig Contract Dispute
Singaporean rig builder Sembcorp Marine is headed to court to settle a dispute with Marco Polo Marine over the termination of a $214.3 million jack-up rig construction contract signed in February 2014. Marco Polo Marine, a Singapore-based logistics company, terminated its contract for the rig with Sembcorp Marine's subsidiary PPL Shipyard in November 2015 citing the … [Read more...]
Video: Looking Up at The World’s (Once) Largest Containership
Here’s a video showing the CMA CGM Marco Polo as it is towed into the port of Hamburg at night. With 16,020 TEU capacity, the MV CMA CGM Marco Polo once held the title of world’s largest containership from her delivery to the French shipping company CMA CGM Group on November 5, 2012 until the arrival of Maersk Line's first Triple-E in July 2013. The UK-flagged behemoth was … [Read more...]
Ship Photos of The Day – Towing the World’s Largest Containership
At 396-meters long and weighing in at a 250,000 tonnes, you'd think that having to do an emergency tow of the world's largest containership would be no easy task. As it turns out, a recent exercise held March 9th off the coast of France proved that that doesn't have to be the case. The exercise was carried out using the French emergency towing vessel, the Abeille … [Read more...]
CMA CGM Marco Polo Completes Maiden Voyage
French shipping group, CMA CGM, on Monday confirmed that on January 24, the CMA CGM Marco Polo arrived in Ningbo, China, marking the last stop in her maiden voyage from China to Europe and back. The French shipping group took delivery of the Marco Polo on November 5, 2012. With the capacity to carry 16,020 TEUs, the vessel is officially the world's largest containership by … [Read more...]