Shipowners see 2020 compliance as a business-wide issue Technical managers from shipowners J. Lauritzen and Ardmore Shipping told the IBIA annual convention that every department in the business...
LNG rates burn bright on Chinese demand Hot spots for liquefied natural gas are popping up across the globe and China is at the forefront
Danish shipowners address sulphur cap 'myths' Danish Shipping is putting forward the argument that problems with 2020 sulphur cap compliant fuels might be indirectly caused by...
Eagle Bulk looks for $40m boost from scrubbers The US-listed company posted a profit in the third quarter versus a loss the year earlier
Liner carriers cannot foot the bill for IMO 2020, says Saadé Where the extra cost from IMO 2020 will lie remains a big question, says the Baltic's Jackson
Shipowner fined for ballast mistake after rule change In a claim settled by the ITIC, the shipowner sought repayment arguing that the shipmanager should have been aware of California's...
Give credit where it's due on ship recycling Instead of using the European List as a carrot to induce yards in South Asia to improve their safety and...
Aegean warns stock may be worthless after restructuring Chapter 11 petition came after defaults, admits beleaguered bunker supplier
Norden suffers loss on tanker market headwinds The company has begun a $10m share buyback programme after saying third-quarter results were dragged down by tanker weakness despite...
World boxship fleet update: Deliveries slide into new year A slowdown in orders in October will not offset the large number of ships still on the orderbook for the...
ICTSI boosts volumes and revenue Operator sees benefit of new terminals coming online, but as revenue rises 10%, costs surge 16%
MSC leads container lines in move to scrubbers As deadline draws near, box carriers have mixed approaches to meeting new low-sulphur fuel regulations
Daily Briefing More balanced Chinese trade to boost container carriers | Japan takes South Korea to the WTO over shipbuilding subsidy spat...
Ardmore not 'going down the scrubber route' Chief executive Anthony Gurnee says his company would rather spend money on more ships.
Aegean bankruptcy a takeover attempt in disguise, creditors say Mercuria's swoop to save the troubled Aegean Marine was really the start of a takeover attempt, the former fueling giant's biggest creditors allege. In court paper, Aegean's bondholders, who are owed a total of $267m in two separate convertible notes, say the July deal between the Swiss commodities trader and the bunker and tanker company was the start of an "aggressive loan-to-own strategy" that
IOPC faces new Canadian claim for 2016 barge spill off British Columbia The International Oil Pollution Compensation (IOPC) Funds could be hit with a fresh claim following the grounding of a tug and oil barge in the Canadian province of British Columbia. The claim was revealed at the latest IOPC meeting of governing bodies this month. IOPC holds 40th birthday gala at IMO The IOPC reported the spill dates back to October 2016 when the tug Nathan E Stewart and the ba
Golar FSRU trio re-positions for project start-ups Three Golar LNG-controlled floating storage and regasification units have this week been moving into position ahead of project start-ups. The FSRU Golar Freeze (built 1977) finally left Dubai, where it had been lying idle before undergoing works, to start a charter with Miami-based New Fortress Energy (NFE) in Jamaica. New life in the Caribbean looms for idle Golar FSRU It will supply a 94MW ga
Capesize earnings fall to five-month low after BHP derailment Shipments from Port Hedland, the world's largest iron ore export port, are expected to be hit for at least a week.
GasLog Partners to offer preferred shares Andrew Orekar-led MLP plans to use proceeds for general corporate purposes, including fleet expansion, debt repayment and capital spending.
GasLog Partners looks to raise $97m through share sale GasLog Partners will sell four million preferred shares in the stock offering announced Wednesday afternoon. The LNG carrier is expecting to make roughly $97m in the sale of the Series C cumulative redeemable perpetual fixed to floating rate preference units at $25 each. GasLog Partners to offer preferred shares GasLog Partners will use the money to fund anything from debt repayment to capital
Genco posts positive third quarter results Genco Shipping & Trading capped off a busy quarter with modest profits. The New York-listed shipowner posted $5.7m in net income for the three months ending 30 September along with $92.3m in revenue, 80% higher than the same period last year, on the back of improved charter rates. Genco confirms $34m capesize scrubber plan "During the third quarter, we continued to generate profitable results,
Bahri eyeing Asian, Middle East acquisitions Company looking to spend tens of millions of dollars to expand its reach.
International Seaways widens losses New York-listed tanker owner absorbs impairment charges on vessel sales and sees lower charter rates during third quarter.
Seaspan eyes $123m bond, dual listing in Israel US-listed boxship owner files to raise more cash in Tel Aviv.
Clarksons Platou says sell Solstad as loss grows Analyst doubts there is a good outcome for shareholders in talks with creditors.
Teekay rises to Euronav's Bake Off cake challenge We have a shipping Bake Off contender. Teekay has taken up the challenge and the company has gone in big. Euronav's just desserts for networking milestone After seeing Euronav's magnificant cake creation last week, celebrating the company reaching 10,000 followers on business networking platform LinkedIn, Teekay pushed back. #BakeOffChallengeAccepted "You want cakes? Teekay has cakes! #BakeOff
Ardmore turns red as tanker rates bottom out Ireland-based owner sees upward trend for MRs as cargo volumes increase.
Alvtank closing in on sale of veteran tanker Swedish tanker owner Alvtank Rederi is selling one of its oldest ships. Managing director Christian Nilsson of Alvtank confirms the 16,900-dwt Ramira (built 2008) is in the process of being offloaded. He insists that no transaction has yet been completed, dismissing brokers report a $13.5m deal is done. A sale would be part of a renewal process for Alvtank, he says. The Ramira was purchased
Yangzijiang orderbook tops $4bn Chinese yard has contracted 28 new vessels so far in 2018.
Hurtigruten orders third 'green' expedition cruiseship Norwegian operator returns to Kleven Verft for another battery hybrid as explorer orderbook grows.
Hunter Maritime to pay $132m after tender offer Would-be shipowner Hunter Maritime Acquisition will pay out $132m to shareholders as the company moves forward with a merger. In early October, Hunter, a blank cheque outfit set up by the Saverys family, offered to tender 14.1 million shares for $10 each alongside a proposal to shareholders to give the company until late April to execute a merger with NCF Wealth Holdings, a Chinese financial tech
Gazpromflot's first FSRU delivers All eyes are on whether regas unit built for Kaliningrad will be used as a trading vessel.
Braemar ACM raises crude tanker forecasts into 2020 A stronger than expected winter for the crude tanker market has fuelled Braemar ACM's optimism for freight rates in the longer-term. While the present buoyant rates are expected to calm for a period in the first half of next year, the brokerage has boosted its rate forecasts for 2018, 2019 and 2020. Braemar's Anoop Singh said: "We had been optimistic for a dirty tanker market recovery to start
Greenline Ship Management scraps VLGC Greenline Ship Management of the United Arab Emirates has sold its only vessel, the 75,000-cbm LPG carrier Carmen (built 1993). Demolition brokers say the 25 year old VLGC has gone for scrapping in India. The ship has sold for $442 per ldt or $7.5m. Greenline bought Carmen from Kumiai Navigation in March 2013 for $24m.
Passengers booted off ro-pax due to army booking Communication breakdown blamed for incident in Fiji.
ING loan loss provisions hit $247m Dutch bank also hit by $891m fine in third quarter.
Matson to put scrubbers on at least half of fleet Matt Cox-led boxship owner plans to buy three more of the IMO 2020 devices.
Ballast error leads to claim against manager ITIC negotiates lower payment after owner takes action over California discharge.
Norden falls to loss as it launches buyback Bulker strength not enough to counter severe tanker headwinds for Danish owner.
Diana Shipping sells 17-year-old panamax bulker Deal comes at a time dry cargo asset prices are moving ahead of freight rates.
Shipping sends provisions soaring at ABN Amro A "few specific" loans cost Dutch lender in third quarter.
More than 10 investors circle Nord/LB German shipping bank says those shortlisted to take a stake have been carrying out due diligence as it continues to shed legacy loans.
Vopak to expand Africa footprint with new LPG terminal Dutch terminal operator says it is also planning to expand LPG capacity at Vlissingen.
Eagle Bulk bondholders back scrubber amendment Bulker owner says over 85% of investors at meeting on Tuesday backed proposals.
Grieg Star confirms handymax bulker acquisition Norwegian shipowner says latest vessel addition has been entered into the G2 Ocean pool.
Japan: South Korean shipbuilding breaks subsidy rules South Korea agrees to meet for bilateral negotiations as Japan threatens complaint with World Trade Organization.
Final demurrage and detention report on track Commissioner Dye said field interviews regarding Fact Finding 28 investigation offer industry further clarity on Federal Maritime Commission report's objectives.
Shippers' Law: A stab at piercing the corporate veil Court says a creditor's inability to collect a judgment alone is insufficient to justify making the companies' owner liable.
Commentary: U.S. export compliance is global must Federal agencies are "cracking down" on overseas affiliates and distributors that flout U.S. export control laws and regulations.
CBP to require advance manifest for truck shipments Starting in January, carriers will be fined $5,000 for first offenses and $10,000 for subsequent violations.
German carrier sentenced for oily bilge dumping A U.S. District Court in Portland, Maine, ordered MST to pay a $3.2 million fine and implement an environmental compliance plan for its vessels.
Ocean carriers, terminals initiate blockchain group CargoSmart CEO says the consortium provides an opportunity "to transform the shipping and logistics industry and elevate supply chain processes."
OPEC output dips as Iran sanctions bite OPEC crude output backed away from near two-year highs in October as US sanctions on Iran oil increasing sap production levels from the group's number three producer, according to an S&P Global Platts survey.
FUTURES 5: Oil dips after US inventory surge offsets supply concerns Crude futures settled lower on Wednesday after a bearish US inventory report halted a morning rally driven by talk of OPEC supply cuts.
Iraqi federal oil exports slump due to bad weather: sources Poor weather conditions have hit operations at Iraq's southern export terminals, slashing total federal Iraqi oil exports by 76% over the past three days, shipping and trading sources said Wednesday.
Weaker RINs lure gasoline shipping into US East Coast ports: sources A decline in the US obligation for biofuels has prompted an increase in imports from Canada and Europe into the Atlantic Coast, according to market sources and federal government data released Wednesday.
TANKERS: Worldscale flat rates set to rise 16% on average in 2019 Worldscale flat rates for tanker routes are set to rise next year, reflecting higher bunker prices, according to the latest Worldscale Association circular.
Fuel oil requirements heat up in Europe and Asia, cutterstock tightens Singapore's thirst for fuel oil has seen the arbitrage east of high viscosity Russian M100 become ever more popular due to a lack in Europe of cutterstock used to produce on-specification fuel oil.
Asian ship owners start taking 0.5% sulfur bunker fuel for testing "We have started buying 0.5% sulfur bunker fuel for testing in China and Singapore," a source said.
External: Marine Bunkering(Rotterdam)B.V.
Monjasa seals credit deal for working capital to grow US business In 2017, Monjasa sold sold 650,000 mt of bunker fuel in the Americas.
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