Surge in Shipping Risk Coverage Widens NordLB’s Loss

As a result of a huge increase in the risk provisioning for ship financing, German shipping bank Norddeutsche Landesbank (Nord/LB) closed the financial year 2016 with a loss of EUR 1.9 billion (USD 2.02 billion).

The consequences of excluding consequential loss

Most commercial contracts contain provisions limiting liability or excluding certain categories of liability for breach of contract. More often than not, you will find one or both parties seeking to exclude liability for “consequential loss”.

The consequences of excluding consequential loss

Most commercial contracts contain provisions limiting liability or excluding certain categories of liability for breach of contract. More often than not, you will find one or both parties seeking to exclude liability for “consequential loss”.

Seaspan Corp Bleeds Red

Challenging market conditions have pushed China’s Seaspan Corporation to a full-year loss of USD 139 million in 2016, plunging from a profit of USD 199 million reported in 2015.

Euroseas Ltd. Reports Net Loss of $18.1 million during Fourth Quarter

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2016.

Team Tankers Remains in Loss amid Weaker Rates

Due to the weaker rates seen in the third quarter of 2016, Bermuda-based chemical tanker owner and operator Team Tankers International Ltd. reported a net loss of USD 4.2 million, compared with a net profit of USD 7.4 million in the same quarter a year ea

Shipping Woes to Push NYK Line’s Loss to USD 1.9 Bn

Japan’s shipping major Nippon Yusen Kabushiki Kaisha (NYK Line) expects to see a record loss of JPY 195 billion (USD 1.9 billion) for its shipping and air-cargo businesses, according to data provided by the company.