US to check low-sulphur fuel compliance Foreign-flag vessels entering two US ports will soon be subject to voluntary sampling of their bunker fuel so that regulators can gauge compliance with low-sulphur fuel limits. The voluntary scheme, which will begin at the Port of Los Angeles on the US West Coast and...
Giant fleet of ships gathers behind China's new mega carrier China Cosco Shipping Corporation was officially launched in Shanghai today, bringing together the mainland's two largest carriers and amassing a huge armada of container ships, bulk carriers, and tankers that far outstrip those of its rivals. The combined fleet owned by the new carrier, a...
Dubrovnik unveils huge new cruise terminal deal In a transaction intended to meet EU rules and ensure future growth, the Port Authority of Dubrovnik has signed a deal with Dubrovnik International Cruise Port Investment to build a large new terminal in Gruz...
Sembcorp Marine debts prompt concern Singapore-based rig-building and ship repair group Sembcorp Marine's debt levels are on the high side and it could struggle to fulfil its debt covenants, sector analysts have cautioned. At 31 December 2015, Sembcorp Marine's long-term debt stood at SGD2.6 billion...
DNV GL and VPS introduce fuel analytics solution DNV GL and Veritas Petroleum Services (VPS) have jointly introduced a new fuel analytics solution for the maritime industry. The tool enables the first-ever systematic assessment of the impact of fuel quality on vessel performance. It has combined the vast size of nearly two million samples provided by Singapore-headquartered VPS with...
DSME to convert Teekay's LNG ship to LNG FSU South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) said Canadian shipowner Teekay has requested to upgrade an LNG carrier to an LNG floating storage unit (FSU). Teekay originally ordered the LNG carrier in February 2015. Teekay is expected to deploy the LNG FSU to an LNG import terminal...
Golden Ocean in restructuring after deep losses Golden Ocean Group, the listed dry bulk shipping company in John Fredriksen's business empire, said it would restructure its finances following deep losses for both 4Q15 and the full year. In the final quarter of 2015, the group made a net loss of USD...
Hyundai Group chairwoman pumps in money to save HMM The chairwoman of Hyundai Group and her mother have been issued 6 million new shares in Hyundai Merchant Marine today, as the cash-strapped shipping company continues to struggle amid growing talk of bankruptcy. The shares are worth KRW5,000 (USD4) each, translating into a total cash injection...
EcoPhos invests EUR75 million at the port of Dunkirk Belgian industrial group EcoPhos, a supplier of technology and producer of food-grade phosphate, is to build a new production plant on the port of Dunkirk's 'Industrial City Dunkirk' (ICD) that will see an investment of EUR75 million and create 100 direct and indirect jobs...
India starts work on new transhipment port as data show better productivity India will issue tenders in March for a consulting study on the development of a new transhipment port at Colachel on the Malabar cost on the southernmost top of the sub-continent. The port is one of three new greenfield sites being developed amid fears that a lack of capacity could...
Private equity on collision course with shipping banks Private equity and shipping banks are widely expected to collide at the restructuring table in the coming months. Insiders gave IHS Fairplay their views on how this looming confrontation will play out. "The banks are being meaner and nastier and they are going to...
Euroseas curbs losses despite worsening markets Bulker and boxship owner emphasises cost controls but glimpses some hope in both its sectors
Danaos hunts more boxship buys through Gemini joint venture But company will not pay higher prices sought for distressed German KG vessels
Moby and CIN secure refinancing from syndicate of banks WFW advises on deal for leading Italian owner
New York, New York, a helluva town to do shipping business Why I believe New York will re-emerge as a prominent shipping capital
Belships fixes supramax at $3,750 per day Five-year-old ship replaced by newbuilding on prime Canpotex time charter
Tanker Investments soars to $28m fourth-quarter profit High rates allow tanker company to delever balance sheet
Greece approves Cosco's Piraeus bid 'Improved offer' now awaits Court of Audit verdict
Golden Ocean to lay up capes Update: Warm layups on the cards within capesize pool amid weak dry bulk market
Shipowning exit boosts Philly Shipyard Jones Act builder reaps profit from sale of shipping assets on product tankers
Court orders Sainty Marine restructuring Shipbuilder aims to come up with a detailed plan before April 17
The end of an era Succession questions at Evergreen after death of group chairman Chang Yung-fa
Data Hub: Load Factors Slowdown in Asia-Europe traffic continues to hamper trade utilisation
Data Hub: World Fleet Update Order rush comes to a halt as carriers see sense in scrapping
DSME to convert Teekay LNG newbuild into floating storage unit FSU likely to be used for Teekay's Bahrain LNG project
Star Bulk joins chartering pool with nine capesize vessels Pool will have a fleet of 65 modern capesize ships managed in Singapore and in Antwerp
Diana Containerships to offload panamax for demolition Greek company will deliver vessel to buyer in India by end of March 2016
South Carolina Ports container volumes up 5% Port authority expects volumes to remain flat for next few months
Container shipping's Top 30 Containerisation International picks the people and organisations likely to have the most influence, either directly or indirectly, over how the industry copes and evolves in today's uncertain and challenging times
GasLog frees up cash with finance drive New York-listed LNG carrier owner inks deals that push back maturities to 2018.
Offshore oil slowdown hits Hornbeck Todd Hornbeck-led company misses fourth-quarter estimates amid day rate slump.
Atlantic rates pull back for MR tankers Spot market drops on backhaul weakness as uncertainty emerges on westbound route.
GTT's profits eke small gain in 2015 Orderbook for new LNG tanks sees small growth; Korea launches trade investigation.
Teekay eyes multiple options for axed FPSO Offshore spinoff plays down impact after Repsol nixes Petrojarl Varg contract.
Euroseas trims loss, turns to opportunities Aristides Pittas-controlled company posts smaller loss in the fourth quarter and full year 2015.
Grindrod expects to bleed red ink in 2015 Diversified South African owner set to recognise impairment loss of $100m in results published next week.
Teekay LNG Partners funds newbuilding pair MLP nets loan for two ships as it reveals a retreat in fourth quarter earnings.
Giant Chinese owner Coscocs launched in Shanghai Chairman Xu Lirong inaugurates combined operations of Cosco and China Shipping.
Teekay Offshore confirms aframax sale Tanker owner sells remaining conventional tankers as it boosts annual profit but cuts dividend by 80%.
Neu leads latest round of bulker disposals German owner joined by Vale and Oldendorff in weighing in giant bulk carriers.
TNK profit trebles as it adds aframax duo Teekay Tankers sees strong growth in 2015 earnings as revenue soars due to expanded fleet.
Teekay Corp tops Street view by a dime Peter Evensen says annual result the best since the financial crisis struck.
Vallianz taps Middle East financial markets Offshore owner opens new funding path with Islamic bond worth $266.7m.
Turkmenistan plots new shipyard Caspian Sea nation eyes plant at Turkmenbashi to turn out dry cargoships and tugs.
Shipowning play spurs Aker Philly profit Sale of joint venture ships to Kinder Morgan aids shipyard's performance.
Nova Star lands Gibraltar job Ferry formerly operating between US and Canada makes European switch.
Herbjorn Hansson buys more NAO shares Chairman increases stake as offshore vessel company also continues stock buy-back.
ABG Shipyard could be sold next month Struggling Indian shipbuilder in talks with investors to offload up to 51% of shares.
Oceanteam reports wider 2015 loss Norwegian offshore vessel owner will explore other sectors as it sees annual deficit double.
TIL back to black thanks to high rates Oslo-listed owner boosts both fourth quarter and full year earnings as it continues buying back its own stock.
Statoil keeps Dof's Skandi Vega Norwegian owner secures work for anchor-handler potentially stretching into 2018.
TIL rides high tanker rates to strong result Oslo-listed owner boosts both fourth quarter and full year earnings as it continues buying back its own stock.
GOGL posts $69m loss in fourth quarter Norwegian bulker owner reveals sale and leaseback deal as it falls into the red.
Golden Ocean defers loan payments John Fredriksen-controlled bulker owner also in talks to further delay newbuildings.
KNOT Offshore Partners sees Q4 profit triple Trygve Seglem-backed shuttle tanker venture sees bottom line boosted by additional tonnage.
Bad weather impacts transatlantic boxship punctuality Container service reliability saw its worst month-on-month decline since January 2015, says Drewry.
Moody's takes a less positive stance on Maersk Decision based on challenging market conditions affecting key businesses, says rating agency.
Genco Shipping adds shareholders to board Peter Georgiopoulos-led company makes appointments as two other directors step down.
Shipping rides surge as US equities rebound At least 10 US-listed marine stocks gain by more than 10%; sector indexes rise.
Genco adds shareholders to its board Peter Georgiopoulos-led company makes appointments as two other directors step down.
Early start expected for Russian river navigation on mild winter Rivers are used for shipping gasoil and fuel oil to export terminals.
GLOBAL VLCC TRACKER: Trade in key countries pulls back on North Asian holidays Freight rates traded sideways over the week.
Shippers expect to use separate fuels for ECAs when global cap falls to 0.5% sulfur But price spread between 0.1% and 0.5%S product would be too small at today's oil price, says Cepsa.
Bomin Group appoints bunker trader Shogo Miura The group also recently set up an office formally in Tokyo.
Taiwan's CPC to carry out maintenance on No. 9 Keelung barge mid-Feb to end-Apr Trade sources expect no impact on bunker fuel market.
Three Romanian ports cut tax rates on bunker deliveries: sources A three-tier bunker tax structure now applicable for container shipowners.
Harvey Gulf completes first LNG refueling terminal in N America The facility's two sites can together transfer 500 gallons of LNG per minute
Dan-Bunkering (America) hires bunker trader Joseph Barry Moves from EMAS Group, Houston
Bunker demand in Baltic fragmented on volatile market Demand in number of stems seen, but not in volume
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