Panamax earnings tick up 10% on increased optimism Large harvests in the US are expected to drive tonnage demand in the fourth quarter, says Braemar
Beijing to cover $3.3bn debts for state shipbuilder CSIC The funds will be used to ease the shipbuilder's exposure to the embattled offshore sector
Fifty-dollar oil depresses Maersk's Energy division Oil dependent group cannot deliver decent returns on invested capital until price rises above $60 per barrel
Asian clean MR tankers post gains on stronger demand MR tanker rates in other regions still pressured by excess tonnage
George Economou wins at the expense of corporate governance Shareholder rights trampled in quest to raise $700m from public investors at all costs
Maersk cyber attack leaves no long-term impact Customers have been supportive following Petya virus, says Skou
Maersk Line's return to the black underlines speed of box trades recovery Maersk Group chief executive Søren Skou says strong global economy and low orderbook underpinning rapid container market recovery
APMT slips into the red as impairments hit $250m Terminal operators post $100m loss for second quarter
Torm ekes out net profit for first half in spite of softer tanker rates Company to pay out $1.2m interim dividend or two US cents per share by September 12
Cyber attack on Maersk partly to blame for Damco losses Company will continue to invest in digitisation, product enhancement and sales deployment, among other things
Heavy fleet impairments knock Maersk Tankers Drop in fleet value brings $464m write down, tips Maersk Group into the red
Maersk Group keeps 2017 $1bn profit forecast unchanged despite cyber attack Impairments in tanker division and weak terminal performance lead to loss despite strong container line figures
Rickmers Maritime completes fleet sale to Navios Remaining nine vessels of the fleet of 14 sold for total of $59m
Songa Bulk raises $45m for vessel acquisitions Company expects to add vessels to fleet in the near-term
Debt reform will place Ezion in highly uncertain situation, CIMB analysts warn Analysts surprised by liftboat operator's debt reform after it warned of significant impairments if oil and gas sector situation worsens
Daily Briefing
Ocean Rig to submit debt restructuring plans to court on September 4 Company received the votes needed to push ahead with the plans during creditors' meetings
PIL and PSA jump on the blockchain bandwagon with IBM Companies to look into proof of concept blockchain-based supply chain network technologies
Piraeus forecloses on Edem Marine-controlled bulker Piraeus Bank has arrested the 52,500-dwt bulker Patriot (built 2004) in Singapore and is seeking $7.08m of the $9.67m it claims to be owed on a joint loan extended to two single-ship entities. The loan dates back to December 2009 when Marfin Egnatia Bank, which was subsequently absorbed into Piraeus Bank, entered into a financial arrangement with Diana Shipholding Co and Montana Shipping Co for a
Bukit Merapin buys ro-pax as new flagship vessel Indonesian ferry operator Bukit Merapin Nusantara Lines (BMN) has acquired its largest-ever ship, a South Korean-owned ro-pax. Joining the company as its new flagship is the 11,600-gross-ton (gt) Red Star (built 1994), which TradeWinds understands was recently owned by Seoul-based East North Asia Car Ferry Co. BMN sources say the ferry is undergoing a refit at a shipyard in Indonesia and will be
AXIA sees Scorpio Bulkers in 'envious' place Young fleet, firming market and lack of capital outlays position bulker owner for better valuation.
Europe's diesel trade bodes well for tankers More cargoes from US to resupply Europe as regional inventories set to return to normal.
Genco Shipping tipped to pounce on Tiger Group bulker series Greathorse ultramax stable one of a number of deals US owner could be on course to close.
AP Moller-Maersk chief sees positive global investment climate Soren Skou identifies encouraging global indicators amid the group's soft results.
UK investors flex muscles on executive pay Shareholder votes against executive pay deals - such as the one that hit Clarksons - are becoming more frequent, a new study has found.
Golar drops half of Hilli FLNG to partnership But dropdown in first floating liquefaction plant remains contingent on closing other deals.
Atlantska Plovidba makes it back into profit Croatian bulker owner returns to the black as revenue grows 21%.
Tallink extends Atlantic Vision charter Estonian ferry owner reaches agreement with Canadian company on 2002-built ship.
Indian rule creates flag state jeopardy Owners run risk of losing contracts if they switch ships from domestic register.
First Steamship drops into the red Taiwanese bulker owner hurt by reduced revenue in second quarter.
Jacob Meldgaard: Torm has 'more ammunition' Danish owner has the resources to follow up $185m spree with more deals.
LR joins sailing car carrier project Classification society will work with Germany's Sailing Cargo to develop innovative ship design.
Korean bank profits more than double Stronger first half for lenders as loan-loss provisions drop.
Petrogress aiming to add more tankers Greek owner wants to build fleet to expand business in West Africa.
Weeks Marine inks $60m dredger Louisiana's C&C Marine to build cutter-suction ship for US owner.
Loss down a fraction at Containerships Finnish owner boosted by higher revenue in second quarter.
Ex-Vitol executive David Thomas joins Dreifa Former Vitol LNG head gets onboard with start-up mid-scale floating regasification terminal outfit
Sincere Navigation logs profit rise Taiwanese bulker owner boosted by lower costs in second quarter.
Stable AMSC eyes diversification US Jones Act tanker owner declares a dividend of $0.08 per share in the second quarter.
Torm continues S&P spree with handy sale Latest deal comes as the Danish owner reports a modest loss for the second quarter.
AP Moller-Maersk falls to loss but boxships improve Impairments and depreciation hit Danish giant's bottom line in second quarter, but Maersk Line stronger; stands to lose up to $300m from cyber attacks.
Robbers target German boxship off Philippines Number of incidents in Asia at record lows, but shipowners warned to remain vigilant.
PIL plans blockchain study with PSA, IBM Singapore shipowner aims to achieve better security, efficiency and transparency.
COSCO Ports reports nearly 17% increase in monthly terminal throughput The terminal operating arm of Chinese shipping company COSCO saw its container throughput increase 17.3 percent in July compared to the sam...
Freighter piloting pleads to operating cargo plane while drunk A cargo plane pilot under contract with the Defense Department pleaded guilty Tuesday in a Florida district court to charges of operating t...
Report: Cargo theft up significantly in Europe in Q2 Over 900 incidences of cargo theft were reported in the second quarter of the year, a sharp uptick from the 586 in Q2 2016. Cargo thefts in...
Canada orders vessel slowdown due to whale deaths Vessel speeds must be reduced to no faster than 10 knots when travelling in the western Gulf of St. Lawrence from the Quebec north shore to ...
Rand Logistics posts $5.6m loss in Q1 FY 2018 Source: Jon Nicholls Photography/Shutterstock Rand Logistics recorded revenues of $32.3 million for the first quarter of fiscal year 2018. ...
Port of Hamburg sees steady first half 2017 volumes The Port of Hamburg handled 70 million metric tons of cargo during the first half of 2017, falling 0.2 percent from the corresponding 2016 ...
HMM looks north to Arctic passage South Korea's largest ocean carrier, Hyundai Merchant Marine (HMM), is looking to launch a regular liner service via the Arctic Sea, cuttin...
ACP expects record tonnage in FY 2018 The body that governs the Panama Canal is projecting record throughput of 429.4 million tons in FY 2018 Thanks in large part to the newly e...
Cargojet earnings flying high in Q2 2017 Ontario-based all-cargo airline Cargojet posted net earnings of $4.4 million Canadian (U.S. $3.4 million) for the second quarter of 2017, a...
Lack of cutter stock set to tighten European fuel oil blending economics "There are small bits and pieces, but there is zero slurry coming out of the US," said one trader.
External: Wired Bunkering
TRADER NOTE: Bunker trader Monjasa hires eight traders Global marine fuel trader Monjasa has hired four traders and another four trainee traders at offices in Denmark, Cyprus and Singapore this month.
Danish Maersk Line reports Q2 profit despite soaring bunker costs Maersk Line paid an average $313/mt for its marine fuel in Q2, from $194/mt a year earlier.
IBIA supports expanding MFM usage to terminal loadings in Singapore Using MFMs for terminal loadings would help address a missing link in supply chain integrity in the world's largest bunkering port, it said.
Weaker oil price outlook sees Santos' GLNG facility in Australia take $870 mil hit Santos lowered its Brent price forecasts to $50/b for 2017, $55/b for 2018, $60/b for 2019, $65/b for 2020, and around $70/b for 2021 onwards.
FUTURES: Crude higher after API reports large US stock draw
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