Mercuria raises bid for Aegean The new agreement will avoid costly litigation, according to the filing
TMS Cardiff Gas agrees LNG carrier newbuildings at Samsung and Hyundai Exercise of three more options elevates Economou group company's LNG order book to 11 vessels
ITIC warns on fraudulent diversion of funds Money remitted to party that intercepted communication chain and fraudulently obtained funds. ITIC reminds members to use telephone to check...
Moby-CIN reverse merger plan challenged by creditors Moby says companies believe there are no reasonable grounds for Tirrenia to stop the reverse merger, as it does not...
LNG orderbook nearly satisfies 2022 volumes Wells Fargo warns that there could be an 'air pocket' in LNG rates in 2021 and 2022
East-West ocean freight contract rates down 7% East-west contract rates face largest quarterly fall since 2016
Golar to build second FLNG The agreement with BP includes an option for a second FLNG vessel
DP World plans 'revolutionary' box storage system DP World plans to launch the concept in partnership with Germany's SMS group ahead of the Dubai World Expo 2020
Anglo American expects higher iron ore and coal output Rail disruption in South Africa has been resolved allowing exports to continue
Hurtigruten denies Kleven Shipyard sale Norwegian cruise and ferry company took ownership of ailing builder this year to ensure completion of three hybrid cruiseships
RBD Armatori's fleet put up for sale by law court Interested parties have until February 22 to state their interest in four post-panamax and three capesize bulkers, as well as...
HMM newbuildings could boost alliance choices HMM's fleet expansion plans look risky but could lead to an alliance partnership that would help the South Korean line...
MSI predicts tanker spot rate declines Opec cuts and a seasonal downturn are expected to hurt tanker earnings despite healthy crude flows from the Americas to...
China's move on US soyabeans is a relief for dry bulk market Total purchases by China from the US are expected at 1.5m tonnes for now, and volumes could rise to about...
Scrubber retrofits could rein in boxship capacity Drewry says that 266 boxships, representing an aggregate 2.2m teu of capacity, will be scrubber-retrofitted before emission regulation is enforced
Daily Briefing Chinese brokers call for joint research platform | Cosco Shipping Energy Transportation restructures business | Euroseas in talks with potential...
Port of Everett boosts rail capacity for greater throughput The tiny port outperforms nearby Seattle when it comes to the dollar value of exports
Long Beach terminal attracts over 50 potential bidders Expressions of interest have been received from the finance and ports sector, but no ocean carriers are thought to be...
Oaktree and Hartree link to Aegean Marine Petroleum Aegean's unsecured creditors support the new proposal
US announces funding for port-related projects One of the few federal funding programmes that is available to public port authorities to help them pay for the...
Ardmore Shipping chairman steps down Reginald Jones will leave the US-listed tanker owner's board at year end.
MOL teams up with Uniper on first FSRU project for Germany Japanese owner extends links with company after signing up second LNG carrier newbuilding for trader
Cruise industry to keep steady course Bookings expected to keep growing, industry experts say.
Fred Olsen buys control of $147m wind farm ship Norway's Fred. Olsen Windcarrier (FOWIC) has added another wind farm support ship to its fleet in a deal with Keppel Offshore & Marine of Singapore. It said it has acquired 51% of the Keppel company, Seafox 5 (SF5), that owns the 11,000-dwt Seafox 5 (built 2012). Under the agreement, FOWIC will acquire the shares and a pro-rata part of shareholder loans for $73.6m. SF5 had total assets with a b
Six hurt as pilot boat explodes next to VLGC Six people have been injured after a pilot boat suffered an explosion next to a VLGC in Malaysia. The Bernama news agency reported that CNPC company Kunlun Shipping's 78,462-cbm LPG vessel Gas Infinity (built 1997) was five miles of Pulai Sialu when the accident occurred on 13 December. Malaysian Maritime Enforcement Agency (MMEA) Batu Pahat zone director Mohamad Othman said five MMEA personnel
Former CSIC executive Sun expelled from Communist Party Sun Bo is expelled for allegedly abusing power and taking bribes, according to the Central Commission for Discipline Inspection.
VIDEO: devastation inside tanker-clash frigate revealed The Norwegian navy has released the first footage showing the damage caused to a frigate that sank after a collision with a Tsakos Energy Navigation tanker last month. Ostensjo Rederi reveals frigate rescue drama In the video, divers and an ROV can be seen exploring the eerie underwater wreck of the KNM Helge Ingstad through the hole torn in its hull. The crew of the sunken warship didn
ONE adds to bunker surcharge in China, Taiwan Japanese container line ONE is slapping extra bunker fees on Chinese and Taiwanese shipments. The joint venture between NYK, MOL and K Line said it was making the move due to regulations requiring ships to use less than 0.5% sulphur fuel in the Taiwan and China emission control areas (ECAs) coming into force on 1 January, 2019. For voyages from China to the US and Canada, it will add $15 per teu
HMM tops up finances with new share issue Korea's Hyundai Merchant Marine (HMM) is selling new stock to raise operating cash levels. It will issue 2m new shares worth KRW 10bn ($8.85m) at KRW 5,000 each, it said in a filing. They will be listed on 11 January. In October, the company said it was selling KRW 1bn of bonds as it expands its fleet with 20 boxship newbuildings in Korea. Its biggest shareholder, state-backed Korea Developmen
Bugbee serves up warm welcome to Stevenson on Wall Street return However, the president of Scorpio Tankers' words about Diamond S' private-equity backers are not as friendly
Pappas company sells product tanker at strong price Greek shipowner Petros Pappas is believed to have sold a product tanker in a deal which presents further indications of firming prices in the sector. Pappas-led Product Shipping & Trading has sold the 47,000-dwt Ayesha (built 2008), multiple shipbroking sources say. Star Bulk offers $50m share buyback A price of $16m is described as firm and is above the $15.1m VesselsValue has against the ship
Aegean hashes out new bankruptcy plan, gets creditors on board Instead of a stalking horse sale, the company will be reorganised, with Mercuria taking all the equity
Milaha brings in HaskoningDSV to upgrade yard Qatari owner Milaha has selected Royal HaskoningDHV of the Netherlands to develop plans to upgrade its shipyard facilities. The work at Mesaieed will be done to prepare for "further growth in current markets and expansion into new areas of operations," it said. President and CEO Abdulrahman Essa Al-Mannai said: "The phased upgrade plan for our shipyard is being done to support our business strat
Golar to convert LNG carrier at Keppel for BP job Golar LNG has firmed up an FLNG conversion job at Keppel Shipyard in Singapore for a BP contract, sending its shares upwards on Monday. It said the work will take place to provide a unit for the UK energy giant off Mauritania and Senegal. The FLNG will support the development of phase one of the Greater Tortue/Ahmeyim field. Golar LNG looks upstream and downstream for next opportunity BP has
Subsea 7 scoops Shell cable-lay job worth up to $150m Norwegian owner to work on the Shearwater Fulmar gas line project in 2019.
Thenamaris pockets vast profit on bulker asset play Greek shipowner has sold one of four bulkers bought in trough year of 2016.
Scrubber retrofits could boost boxship supply equation Drewry says ships taken out of service for yard work could boost rates.
Steep Opec cuts will hurt crude tanker demand for first 'four or five months' of 2019 Braemar ACM researcher explains crude newbuildings will also turn to clean cargoes again.
ITIC warns members after email bank fraud Insurer says vigilance needed over requests for payment.
Shipping temperature remains 'a little chilly', says Clarksons Average rates are up but investment in new and second hand ships is a little below last year.
RBD Armatori fleet up for sale again for $190m Italian receivers schedule court sale of 13 tankers and bulkers for $10m less than failed July auction.
Court officer moves in to finalise Noble restructuring Bermuda official to push through Singapore trader and owner's $3.5bn debt deal.
Atlantic Lloyd joins Klaveness pool with supramax buy Torvald Klaveness has welcomed new owners to its supramax pool. The 58,000-dwt Magda (ex Wigan, built 2010) was bought last month by Norse Shipholding and Atlantic Lloyd from Wigan Maritime. S'hail Shipping adds latest acquisition to Klaveness pool Atlantic handles management. The vessel has been traded by Klaveness' Bulkhandling pool since delivery in 2010. It was acquired with Seabulk's sist
Japanese shipbuilder sentiment improving, says Bank of Japan JSEA sees strong order intake in November with ten containerships and a VLCC, figures show.
STX Offshore & Shipbuilding clinches KDB refund guarantees Finance packages thought to be tied to orders for MR tankers from Pacific Carriers Ltd.
Veteran ferry heads for the breakers The only ship owned by US-based Atlantic Blue Seaways is en route to Aliaga for recycling.
Fuel thefts from Shell Singapore refinery top $150m Closer monitoring of products and tightened vessel management procedures since introduced at Bukom.
Blackrock boosts stake in South Korea's DSME New York-based investor now third largest shareholder behind after state-run KDB and Hana Bank.
Government claims YRC Worldwide overcharged U.S. says military cargo was improperly weighed by three units of YRC, resulting in higher freight costs.
China lowers tariffs on U.S. cars, parts through March The action fulfills a second key promise after U.S. and Chinese delegations agreed during a G20 meeting to take steps toward defusing trade tensions.
BIS hits former forwarder CEO with $17 million penalty Eric Baird, who once led Access USA Shipping, received the largest civil penalty imposed on an individual in the Commerce Department agency's history.
U.S. stakeholders push for ag inclusion in EU deal Several members of the U.S. ag industry during an interagency hearing pushed for agriculture to be included in U.S.-EU trade talks, which runs against the desires of EU officials.
Sea Machines raises $10 million in Series A funding
Kuehne + Nagel opens distribution center in Slovenia
Truck driver sentenced in CDL testing fraud scheme
Russian tax overhauls have refining in a fever Russia's latest shake-up of its oil taxes continues to vex the country's downstream sector, which is struggling for clarity over the future of refining economics faced with a complex new system of tariffs and rebates.
SGC rises on falling crude imports to Texas Falling crude imports to Texas have tightened the regional sour crude market.
ICE LSGO futures speculative net long positions fall to 24,512 contracts Speculative net long positions on ICE low-sulfur gasoil futures fell 38.6% in the week to Monday to 24,512 contracts, the lowest point since June 27.
Distillate logistical stresses ease; IMO 2020 in focus At the end of a dramatic fourth quarter, the ultra-low sulfur diesel market retraced from the highs observed amid a return of healthy supply and the typical end-of-year destocking.
Hartree Partners, Oaktree Capital Management ditch Aegean purchase plan Oaktree Capital Management and Hartree Partners have abandoned ambitions to replace Mercuria Energy Group as the main buyers of Greek bunker fuel supplier Aegean Marine Petroleum.
FUTURES 5: Crude futures sell off sharply as output cuts losing efficacy The oil complex followed equities sharply toward the end of Monday US trading.
External: Global Risk Management
FUTURES: Crude stable during Asian trading, awaits fresh cues Elsewhere, risk sentiment related to trade tensions between US and China, as Unipec will resume imports of US crude "very soon", a source said.
S. Korea's Nov crude imports from Iran remain at zero due to US sanctions "We hope insurances and other concerns would be addressed soon so that we can bring Iranian cargoes in January," a company official at SK Innovation said.
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