Liner shipping rally puts Cosco Shipping Holdings back in the black Recurring net profit in the first half reached about $114m, versus a net loss of $730m in the year-ago period
Panamax bulkers earnings slip on cargo dearth in US Gulf Steady grain flows from east coast South America fail to stem decline
Golar LNG forecasts better business operations with increasing trades LNG player's MLP enjoys rising second-quarter net profit
Results Round-up Dry bulk owners see losses narrow as tanker market weakens
NordLB cutting shipping book faster than expected Bailout of Bremer Landesbank goes ahead on Thursday
State subsidy for LNG sees German owners pocket $36m Move follows similar decision from South Korea last year
Harvey opens long-haul opportunities for product tankers US oil refining sector faces one of its biggest calamities in decades
Olam acquires four secondhand ultramaxes to enter shipowning business The deal was sealed at $80m, broker reports
Port of Houston still closed as lines divert cargo US Gulf coast braced as Tropical Storm Harvey heads for shore a second time, causing more chaos to supply chains
Hurricane Harvey sends Caribbean aframax rates through the roof US crude inventories increase by 1.4m for every day of hurricane damage, a development expected to result in pent-up exports
Sovcomflot's first-half profits tumble Russian tankers giant says it showed resilience during a challenging first half due to its diverse portfolio
Summary: how Harvey has hit US Gulf shipping Strong impact on seaborne oil and gas trades while other sectors also face severe disruptions
Airbus to co-launch maritime crime reporting platform Partnership with CSO Alliance to begin in October
DryShips issues $100m offering after Economou ups stake New rights offer follows chairman's $100m private placement
MTI trials blockchain for VGM processing Distributed ledger system seeks to address issues of transparency and security
Zim returns to profit in second quarter Freight rates and volumes rise in 'challenging' market
Healthy demand stabilises container shipping spot rates The fundamental supply-demand balance has improved markedly, says BIMCO
Scorpio Tankers could complete Navig8 Product Tankers takeover by Friday Majority of Navig8 Product shareholders vote for merger
Marine cyber insurance struggles with coverage gap Large shipowners should seek coverage with limits 10 times those of readily available product, says expert
Jinhui shrinks second-quarter net losses Company remains optimistic as well as cautious about the future dry bulk market
Frontline flips to second quarter net loss on weaker tanker markets Tanker company open to opportunities in market, hinting at industry consolidation
Norwegian competition authority approves Samskip takeover of Nor Lines Authority says transaction will not significantly impede competition
More than 20 oil tankers stranded outside Texas ports due to storm Tanker traffic is unlikely to resume soon as more oil and petrochemical refineries go offline
Disposal of joint venture boosts bottom line of China's Cosco Shipping Ports State-owned port operating giant intends to bring its experience in managing Piraeus in Greece to newly-acquired Noatum Ports
Courage Marine narrows losses on income from merchandise trading Company expects marine transportation business will continue to face challenges
ASL Marine losses widen as impairment charges mount Group continues to be hit by slumps in oil and gas sectors as well as in shipbuilding
Weaker tanker market weighs on CSET profits But LNG shipping segment fares better
US Coast Guard shuts more ports as storm spreads to Louisiana coast Port Arthur and Lake Charles area ports put under Condition Zulu by USCG
Falcon wins SGX approval to delay results Singapore offshore company wins breathing space to concentrate on debt restructuring.
Corpus Christi port could open Friday Surveys expected to be completed today with dredger in place to remove any silt.
DryShips says SEC has issued it a subpoena Query relates to offerings made prior to and including the dealings with Kalani.
Bluepoint Maritime makes Harvey pledge Connecticut tanker brokerage pitches in to help aid agency helping those hurt by Harvey.
Stolt-Nielsen sounds all clear on Houston office Integrated chemical tanker giant says employees safe and terminals undamaged after Harvey.
Ocean Longevity nets second Japanese-built panamax Hong Kong bulker owner Ocean Longevity has acquired a second panamax in as many weeks. Sources say the company is the buyer of the Sasebo-built, 75,000-dwt Privatlantic (built 2012) from Bariba Corp of Greece. TradeWinds reported in August that the ship had been sold to a Chinese buyer for $18.4m but sources close to the deal put it at $18.5m. An Ocean Longevity official declines to comment. T
Toyo panamax reported sold in bareboat deal A Japanese-held panamax has been sold in a bareboat/hire-'purchase deal to Greek owners, market sources say. Brokers report that the 78,900-dwt Unicorn Ocean (built 2008) is changing hands for about $15m. The deal includes a five-year bareboat charter at $5,100 per day, a $4m upfront payment and a purchase option at $1.6m, they say. Some observers are naming Petrofin Ship Management as the buye
Golar's FLNG unit 'will be producing by end of year' Chief executive unveils timeline for Hilli Episeyo start-up off West Africa
Unisea ups dry bet with latest supramax purchase Greek owner buys former Hanjin vessel as it rebuilds dry bulk fleet
DNK profitability boosts prospect of no claims bonus Norwegian war risks insurance club Den Norske Krigsforsikring for Skib (DNK) rang up a profit of $27.3m through the first half of this year. The result is almost twice the $13.9m logged in the first half of last year, although it was the investment performance rather than underwriting that drove the performance in each case. At the half-year point DNK is close to achieving the profitability reco
Marsh puts spotlight on inequitable collision claims A significant ship collision happens on average every day and they can be among the more costly claims. Some of the pitfalls that can arise as a result of ship-on-ship collisions are examined in a new report from the Marsh insurance broking group. "Ship versus ship collisions are often dangerous events with the potential to bring areas of difficulty to insurance claims that clients may not be pr
Sovcomflot orders tanker as its waits on Moscow's IPO call Nikolay Kolesnikov says shipping and IPO markets are "not perfect" for privatization.
Houston ship moves may start this week USCG gives preliminary timeline for ship transits, but damage assessments still being done.
Spot tanker markets gain more on Harvey outages More vessels put on subjects, effectively doubling spot rates since last Friday.
Morgan Stanley sheds most of DryShips stake Financial giant dumps more than 400,000 shares around same time as end of Kalani deal, split over Heidmar direction.
Cargill stretches deal for Belships bulker Giant trader agrees to keep vessel owned by its Norwegian partner until late 2018.
Frontline sees demo driving crude tanker recovery from 2018 Robert Hvide Macleod tips scrapping to rise thanks to weak market and rising demolition prices.
Golar sees deeper red in 'flat market' But the Tor Olav Troim-led company notes that July was the busiest month for spot voyages on record.
Evalend vehement after tanker detained Greece's Evalend Shipping is vehemently denying an allegation of fuel smuggling after Libyan authorities detained one of its chemicals tankers this week to investigate its crew. The 20,000-dwt Levante (built 2008) has been held since 27 August when the Libyan coastguard intercepted the vessel as it was ballasting about 25 miles off the country's coast, awaiting orders. Local media cited a Libya
Aegean adds Caribbean to bunkers network Leading independent bunkers supplier in partnership deal with local storage owner.
Zim bounces back in the second quarter Israeli shipowner returns to black and says it managed to outperform the market.
Golar Partners close to new FSRU contract US-listed partnership plans to take advantage of good position in mid-size market as it reports strong results.
Seadrill and tankers chew into Ship Finance International dividend Chief executive Ole B. Hjertaker says reduced quarterly payout is prudent move.
Corpus Christi eases vessel restrictions US Coast Guard says inner harbour is navigable, but large ships still unable to move.
Raffles wraps up ultramax pair Singaporean owner buys brace of bulkers from compatriot Norr Systems.
Avance Gas president: Traders turning to older design VLGCs Lack of Panama Canal slots means more traditional sized vessels are back in business.
ABN Amro and Maersk work on smart boxes Glassbox, a team of employees from Dutch lender and leading boxship owner, launch innovative project.
Attica ferry grounds in Ios port Refloating of grounded Attica Group-controlled ferry could take at least three weeks.
Tanker slump sees Sovcomflot profit tumble Russian owner's bottom line falls in the first half due to very challenging tanker market.
Fjord1 off to profitable start Oslo Stock Exchange newcomer Fjord1 has booked a profitable second quarter just a couple of weeks after its full listing. Per Saevik backed Fjord1 recorded a profit of NOK 138m backed by revenue of NOK 739m. The company came to market with a promise of exposure to a non-cyclical industry with government backed long-term contracts and sitting on a record backlog of NOK 21bn. It will take d
Navig8 investors back Scorpio Tankers deal Giant of the US capital markets gets the go ahead with full support of Navig8 Product Tankers' investors.
DryShips launches $100m rights offering George Economou-controlled company will use proceeds from the sale for vessel acquisitions and debt repayment.
Fully-funded Frontline sticks to growth guns Robert Hvide Macleod sees the upside to lack of M&A so far this year as tanker owner nets new loans.
Impairments drag down ASL Marine Singapore-listed OSV and yard operator says newbuild, repair and conversion sectors have all suffered.
Jinhui Shipping just misses out on a profit Supramax specialist fails to make it into the black despite a 70% improvement in dry cargo rates.
Moody's downgrades Eletson on rate weakness Rating agency says move is motivated by Greek shipowner's exposure to tankers and LPG.
Stena charters in Gotlandsbolaget's Gute Swedish shipowner looks to bolster tonnage on Poland-Sweden route due to growing traffic.
Dundee set to become offshore scrapping hub Scottish town set to partner facility in Norway to scrap rigs from the North Sea sector.
Maersk Line adds new transatlantic service to network Maersk Line will add a new service to its transatlantic network just as a free trade deal between Canada and Europe is initiated, the compa...
FourKites partners with Mexican 3PL Logistics software provider FourKites struck a deal with Mexico-based Vitti Logistics to provide the third-party logistics provider's custo...
ZIM swings to profit in Q2 2017 Israeli ocean carrier ZIM recorded a net profit of $2.3 million for the second quarter of 2017, compared to a net loss of $74.1 million for...
Cargo delays increase as Harvey moves northeast Tropical Storm Harvey, now downgraded from hurricane status, continues to send a deluge of record rainfall to Texas and now Louisiana as it...
Harrison to STB: CSX undergoing 'profound, transformational' changes The chief executive of Jacksonville, Fla.-based Class I railroad CSX has responded in part to a request for information by the U.S. Surface...
Xeneta: Will container shipping 'sabotage its own success'? Xeneta, a rate benchmarking and market intelligence platform for containerized ocean freight, says the container shipping industry "may be ...
OOIDA: ELD mandate should be delayed while states get their act together The Owner-Operator Independent Drivers Association (OOIDA), a national trade group representing small-business trucking professionals and p...
COSCO SHIPPING International grows profits, revenues in first half 2017 COSCO SHIPPING International (Hong Kong) Co., Ltd.'s profits attributable to equity holders of the company surged 42 percent year-over-year...
Report: Cargo theft in Brazil up 14% in Q2 2017 Statistics show an increase in cargo theft across Brazil in the second quarter of 2017, according to the latest in a series of reports by S...
UPDATE 2: Houston Ship Channel to stay closed for at least 24-48 hours The Houston Ship Channel remained closed Wednesday to incoming and outgoing traffic with talk of opening some areas within 24-48 hours.
US DATA: US fuel oil inventories at eight-week high Total domestic fuel oil stockpiles rose 1.044 million barrels to 35.456 million barrels, for the week that ended August 25.
Aegean, Freepoint ink bunker supply agreement for US Virgin Islands Freepoint will supply the fuels, which Aegean will market via the Limetree Bay oil and product storage terminal at St. Croix.
Houston Ship Channel stays closed as authorities assess conditions
TANKERS: Black Sea-Med Handysize price hits 5-month high on strong fuel oil demand The Black Sea to Mediterranean route, basis 30,000 mt, was valued at $15.72/mt on Tuesday, or Worldscale 197.5, the highest level in over five months.
External: Wired Bunkering
Singapore revokes Universal Energy, Panoil bunker supplier licenses: MPA Both companies also had their bunker craft operator licences revoked.
Storm Harvey to spur demand for Asia refined products, boost freight - Traders add multiple options to destination of ships - Asian gasoline may move to US - BP charters ship on Singapore-US route - Larger Asian gasoil volumes likely to go to Europe
Oil product cracks hit fresh 2-year highs as Harvey knocks out US refiners Sources said US refiners have already begun making inquiries for prompt-loading jet cargoes from Northeast Asian suppliers.
FUTURES: Oil products build on gains as Harvey hits Louisiana
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