Performance Shipping Inc. Announces Sale of M/t P. Sophia for $35.65m
Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell its oldest vessel, the 2009-built, 105,071 dwt Aframax tanker vessel, M/T P. Sophia, to an unaffiliated third party for a gross sale price of $35.65 million. The vessel is expected to be delivered to her new owners in mid-2026, subject to customary closing conditions.The M/T P. Sophia currently serves as part of the collateral for the Company’s outstanding Nordic bond.
Zelim Appoints Mike Collier as Sales Director
Zelim announced the appointment of Mike Collier as Sales Director, effective January 2026. He will lead the organization’s focus on key sectors globally including the cruise and defense industries.Mike joins Zelim from MARSS, where he led business development for the cruise and defense sectors. As part of his 20-year career, including over six years in the cruise sector at Carnival Corporation, Mike led the working group that developed ISO 21195 (man-overboard detection) which was formally published in 2020…
Lagersmit, Subsea Global Solutions Strengthen Partnership in Southeast Asia
Lagersmit, a provider of advanced sealing solutions and a member of The Timken Company, and Subsea Global Solutions, a leader in underwater ship repair and marine services, announced the renewal and expansion of their long-term partnership.The collaboration strengthens both companies’ presence in Singapore and the wider Southeast Asian maritime market, ensuring shipowners, operators, and OEMs in the region benefit from reliable sealing solutions and marine services.Subsea Global…
Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over
Public-private partnerships could take over two key ports near the Panama Canal if courts invalidate a contract with Hong Kong-based CK Hutchison's to operate them, Panama's President Jose Raul Mulino said on Thursday.CK Hutchison holds a 90% stake in the local Panama Ports Company, which had a 25-year concession to operate the Balboa and Cristobal ports, located at both ends of the canal, renewed in 2021.The contract has been at the center of a dispute since U.S. President Donald Trump this year threatened to take over the waterway due to China's influence over Panama's maritime industry.
MAURIC Sets Sail For Southeast Asia With Singapore-Based Representation
Naval architecture firm MAURIC has reached a new milestone in its development plan by establishing its presence in Southeast Asia. Marin Guillo, newly appointed Business Developer for MAURIC, has taken up residence at Changi Business Park, Singapore, positioning himself closer to clients and prospects across both commercial and naval sectors. His mission encompasses developing relationships with regional shipyards and shipowners, with the objective of extendingMAURIC's reach throughout…
