The Interview: Tim Huxley Mandarin Shipping's chairman is slowly but steadily building up a platform to grow the business as an Asian-based tonnage provider...
IMO delays transparency reform debate Consideration of information access reforms will now effectively be pushed back to 2019
Diana Containerships posts net loss in third quarter The company trimmed its fleet to four vessels earlier this year and declared itself debt-free in July
Rising costs dent bottom line at CMA CGM French carrier saw revenues and liftings increase, but higher fuel costs took their toll. Meanwhile, the company intends to make...
Charter contracts and insurance coverage need revisions ahead of 2020, experts warn Senior Clyde & Co and Marsh chiefs note there are several unresolved and grey areas regarding insurance and contracts as...
Small bulkers present better asset value upside This month, handysize ships have been earning more than the larger capesize vessels, at about $10,000 per day compared with...
Brussels clears Antwerp of state aid charges Reducing compensation for missing minimum throughput volumes during the financial crisis was justified, rules European Union competition authority
Hapag-Lloyd hedges its bets on future fuels Compliant fuel will power 90% of the world fleet in 2020 as opportunity for scrubber installation disappears
Bumi Armada posts third-quarter loss as impairment charges bite Group is also taking steps to strengthen its balance sheet by refinancing debt
The Lloyd's List Podcast: Why shipping needs artificial intelligence Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Rush to be 'low-sulphur ready' could trigger box charter rate surge Analysts and brokers are forecasting a surge of up to 30% in some sectors
Daily Briefing South Korea unveils $1.5bn fund for LNG-powered ships | Port leaders in Hong Kong prepared for 'monumental challenges' | Exclusive...
Daily Briefing 2020 sparks box charter spike speculation, 2020 prompts contract caution, 2020 fuels Baltic review, 2020 see Hapag hedge, but if...
Nordic American Tankers sells two more ships Company sold 10 older vessels and bought three newbuildings in 2018
Baltic Exchange considers wording for dry bulk indices ahead of IMO 2020 One suggestion by a hedge fund is to have two indices running in parallel for each segment
StealthGas strikes upbeat note on LPG market after Asian rate rebound Chairman Michael Jolliffe notes string of time charters came after upturn in fourth quarter.
CMA CGM sees third-quarter profit fall as fuel prices rise CMA CGM trumpeted the role of scale in helping it hit its financial targets despite a drop in its third-quarter bottom line. CMA CGM boosts stake in CEVA following takeover offer Saade: interest in Hapag-Lloyd at an end The French carrier posted a profit of $103.1m in the three months to the close of September, down by more than two-thirds on the same period a year ago. Rodolphe Saade, chief e
Tallink's Helsinki listing approved Estonian ro-pax group Tallink has been cleared to list on the Nasdaq exchange in Helsinki. Trading in the Finnish share depositary receipts of the company is expected to start on 3 December. The company decided to go for a secondary listing in May following a review, and will continue to trade on the Nasdaq Tallinn bourse. "We are very pleased that Nasdaq Helsinki has today approved our applica
Centrofin distanced from double tanker deal Reports linking Greek shipowner Centrofin with the purchase of a pair of LR1 tankers are off the mark, sources say. Norden tied to purchase of Diamond S Shipping brace Rumours in shipbroking circles are connecting the company with a $27m swoop for the Mercator Navigation pair. However, well-paced sources tell TradeWinds the company is not the buyer of the 74,000-dwt King Douglas and King Daniel
Fincantieri on shortlist for Uljanik partnership Italian yard giant has submitted letter of intent to Croatian government.
Wan Hai profit chopped by higher costs Taiwan's Wan Hai Lines has posted lower third quarter earnings despite higher revenue. The containership owner said net profit was TWD 462.82m ($15m), against TWD 1.28bn in 2017. Revenue rose to TWD 17.32bn versus TWD 15.81bn, but operating costs increased more quickly to TWD 16.1bn from TWD 13.42bn. Earlier this month, Wan Hai inked orders worth $900m for up to 28 container vessels to be bui
Eurotankers tied to fourth second-hand purchase of 2018 Eurotankers is tipped to have added a suezmax tanker to its fleet to continue an active period of expansion for the Greek shipowner. The ship was said to have attracted the attention of over 10 buyers in what was a closely followed piece of business given the renewed interest around tankers. Yasa bags solid price on sale of LR2 as rate rises strengthen tanker values Eurotankers scoops up LR2 fr
RAL wins $34m KfW loan for new boxships Greenland owner taps German lender to fund Zamakona feeders.
Where are shipping's Black Friday bargains? Shipowners looking for a Black Friday bargain have options across the bulker, tanker and container sectors, according to researchers at VesselsValue. Its experts ran the numbers to find the ships, within the five-year-old band, which can be bought at the greatest discount to their average historical price tags. Moundreas makes first tanker order since 2007 for suezmax Diamantis Diamantidis stri
CSDC ditches $253m Bohai Bank investment plan A unit of Cosco Shipping Development Co (CSDC) has dumped a plan to increase its stake in China Bohai Bank in a CNY 1.76bn ($253m) deal. It said it would waive its right to subscribe for additional shares placed by the lender. In a statement to the Shanghai Stock Exchange, it added that the move was being made in consideration of capital layout and capital allocation efficiency. Shareholders ha
South African court orders sale of OSV The South African high court in Cape Town has ordered the sale of an OSV. The 381-gt support ship Taraska (built 2000) will be offloaded to pay claims in a case brought by Standard Bank of South Africa. The vessel is owned by Erongo Fishing of South Africa. Proceeds will be held in a fund to pay creditors. The vessel has been independently valued for the court at between ZAR 15m ($1.08m) and
Tanker utilisation stable at James Fisher Good progress being made in year to date, UK owner says.
Bumi confirms VLCC sale; seeks $500m refinancing Malaysian FPSO and OSV owner Bumi Armada has revealed a third quarter loss after impairments to its fleet and a VLCC sale. The company said the net deficit to 30 September was MYR 513m ($122m), against a profit of MYR 124m in the same period of 2017. Revenue was down at MYR 588m from MYR 641m. It booked an MYR 41.4m impairment from the sale for scrap of the 310,000-dwt VLCC Armada Ulysses (buil
Uljanik Plovidba fixes up more refinancing Croatian tanker and bulker owner Uljanik Plovidba has arranged more refinancing to lower its costs. It said it had signed a contract with an overseas company that replaces part of an existing loan. Uljanik Plovidba wins debt discount on MRs Remaining funds needed to refinance the facility will be secured from alternative sources by the end of the year, significantly reducing its debt exposure,
Tufton Oceanic Assets snaps up ship number eight Investment continues busy first year for London-listed company.
VIDEO: cargoship grounds on Ukrainian beach A cargoship has run aground on a Ukrainian beach. Watch the video here Footage showed the 3,100-dwt Orel-3 (built 1990) stuck on sand a few metres from shore at Zaporozhye. It got stuck on Thursday morning en route from Kherson. The cause is not yet known. The vessel is operated by Ukrrichfot of Ukraine.
Korea to order 140 LNG-fuelled ships to boost yards The Korean government and private companies are planning to order 140 ships powered by LNG to support small and medium-sized domestic yards. The scheme is part of a series of measures to help shipbuilders struggling for new contracts, the Yonhap news agency reported. Korea launches $360m smart shipyard plan The vessels will be ordered by 2025, including two next year. The deals will create a m
Nordic American Tankers sells oldest suezmaxes Herbjorn Hansson-led crude tanker specialist has now sold 10 ships in the year-to-date.
Hafnia Tankers sees third quarter loss more than double Danish product tanker specialist sees more red ink, but says rates have recently improved.
NYMEX and ICE to list marine fuel futures contracts Derivative instruments come 12 months ahead of introduction of new IMO sulfur limits.
Baota's 60-tanker project fails to materialise amid financial woes Chinese private refiner could not pass the credit checking for its bareboat charter project for 50-60 tankers, and its chairman Sun Hengchao is facing at least one criminal charge.
Iranian LPG loadings almost grind to a halt in Nov after new US sanctions: sources The initial shipping program showed only one vessel slated to lift a cargo.
Taiwan's Evergreen Marine seeks term HSFO from 2020 The basis is Mean of Platts Singapore high sulfur fuel oil assessments.
Norway's Equinor, Global Petro Storage to build LPG storage in Malaysia Under the deal, GPS will build a new facility that is due to start operations around mid-2021.
TRADER NOTE: Bunker trader Shinya Higaki moves to Japan Gas Energy Shinya Higaki said that he has moved within the organization to Japan Gas Energy from Itochu Enex, after seven years in the industry.
CORRECTION: ICE to launch 0.5% futures contract in preparation for IMO 2020 global marine sulfur cap ICE plans to launch a range of new marine fuel oil futures contracts providing customers with a range of hedging tools to assist with the transition to the new IMO rules in 2020
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