Ince chair pledges no diminution of shipping reach after Dadds takeover Ince & Co has been acquired by Gordon Dadds in a deal that will create the largest listed law firm...
Cosco Shipping Holdings suffers without state subsidies Excluding OOIL's contribution, liftings increased by 7.3% to 5m teu, while liner shipping revenue expanded 8.5% to Yuan22.6bn
Marine consultancy offers 'fresh thinking' on emerging risk exposure The tsunami of regulatory red tape engulfing shipping has opened the way to sell services to shipowners, charterers and insurers...
Shipping lines not future competitors, says leading forwarder Jens Bjørn Andersen says fowarders have a 'far larger value proposition' over their liner counterparts
Cutting CO2 output is the biggest challenge facing shipping No ifs, no buts - the goal is clear. Shipping needs to phase out CO2 emissions from shipping completely, ICS chair...
Rotterdam sees continued box growth Rotterdam handled 10.8m teu in the January-September period, a rise of 5.7% on 2017 levels
Piracy incidents blight Gulf of Guinea High alert in Gulf of Guinea as boxship crew abducted and two vessels attacked within an hour
DryShips buys four vessels from Economou unit The three newcastlemax bulkers and an aframax tanker will be delivered to DryShips before the end of the year
Cainiao books 1,000 containers for shopping festival Chinese e-commerce giant is expanding its online shopping extravaganza, which drives a tariff of 100m parcels across the country and...
Euronav warns against scrubbers Tanker owner suffers increased losses in the third quarter but remains confident of market fundamental improvements
Nicholas Inglessis elected chair of UK Club Industry veteran Greek has been director of Samos Steamship since 1991
EU sets out key tests for consortia block exemption Further container line consolidation would require extensive consideration and scrutiny by competition authorities before it could be approved, regulator says
Daily Briefing Ince goes public with Dadds deal | Why a Cosco-Sovcomflot tie-up might make sense | Overlooking safety is not being...
Cosco Shipping Ports maintains volume growth but sees weaker end to year Third-quarter volumes rose 11.1% to 30.8m teu as some of the equity terminals slowed down
China Merchants Energy Shipping to benefit from VLCC recovery Shenwan Hongyuan Securities estimates CMES's average VLCC TCE in 2018, 2019 and 2020 to reach $21,000, $30,000 and $50,000, respectively
MISC wins $176m FSO contract from Idemitsu Kogan The seven-year contract will be for work at the Sao Vang and Dai Nguyet Development Project offshore Vietnam
Global Ship Lease in merger deal with Poseidon Containers Global Ship Lease chief executive Ian Webber will continue as chief executive of the combined company
Cosco Shipping Energy slumps to nine-month loss of $39m The Shanghai- and Hong Kong-listed tanker arm of Cosco suffers from weak tanker earnings amid fleet expansion.
Cosco Shipping Holdings sees profit fall Container giant Cosco Shipping Holdings has seen its third quarter profit fall despite the takeover of OOIL boosting its top line. OOIL set to flex its muscles, says new chairman Hong Kong-listed Cosco Holdings recorded net income of CNY 821.8m ($118m) in the three months to the end of September, down from CNY 872.4m 12 months previously. Revenue climbed from CNY 24.1bn to CNY 37m year-on-year
Warm, wet winter pressures capesize rates Downside risk in the capesize bulker market has emerged in the forms of a warm, wet winter in East Asia and underperforming Chinese imports of coal and iron ore, according to a Refinitiv analyst. While holding firm above $18,000 per day for most of October, the weighted time charter average for capes on the Baltic Exchange has failed to break the $20,000-per-day market. "The capesize market is f
Rodgers happy to fight 'lonely battle' against scrubber herd Euronav chief executive content to go against conventional wisdom in approach to IMO 2020.
Seabury Maritime strengthens top team Former Oldendorff and Maren Group execs to head digital and green units at US bank.
Grupo TMM posts small profit in third quarter Grupo TMM posted profits - if only tiny ones - for the third quarter of 2018. The Mexican shipowner reported MXN 1.2m ($59,893) in operating income made in the third quarter, for a total of MXN 50.5m through 30 September. Last year, the company had MXN 26.4m losses in the third quarter and MXN 45.2m in the first nine months of 2017. Revenues have dropped year over year, from MXN 1.8bn in the fi
Philippines warns of imminent pirate attack Abu Sayyaf terrorists plotting to kidnap crews in Sabah, coast guard says.
"Renegade" Oxygen Maritime tanker to be sold in Singapore UK court rules that Megacore Honami can be arrested after going "on the run" from creditor TMF in "flagrant breach" of covenant.
Judge bars Baltimore port workers from illegally striking A federal judge is keeping Port of Baltimore workers on the job after an apparent strike attempt shut down one of the port's terminals Monday. According to a complaint filed in Maryland district court by the Steamship Trade Association (STA) of Baltimore, mechanics and container handling equipment operators at the Seagrit Marine Terminal either walked off the job or never showed up, in defiance o
Tufton Oceanic Assets in black for third quarter Tufton Oceanic Assets was profitable in the third quarter as it continued to build up its fleet. London-listed Tufton Assets reported an operating profit of $0.018 per share for the period. Tufton Oceanic Assets takes full control of LPG carrier Tufton Oceanic Assets aims for $100m share sale The company, which has now invested its IPO proceeds and is eyeing further growth, paid a dividend of
Skangas inks supply deal with Gothia Tanker Alliance Skangas has inked a deal with members of the Gothia Tanker Alliance to supply LNG as a marine fuel to their ships. The deal covers both existing vessels and newbuildings owned by Furetank Reder, Erik Thun and Rederi AB Alvtank, a statement said. Furetank managing director Lars Hoglund said investing in LNG fueled vessels contributues to the Swedish Shipowners' Association's target for zero emiss
S Bulkers flips ship for profit within 12 months of purchase Athens-based S Bulkers is said to have struck a deal to dispose of a bulker at a profit, less than a year after buying it. Greece's Load Line linked to supramax from Nautical Bulk Stalwart sells final chemical tanker from its original fleet US brokers said the Dimitrios Souravlas-led shipowner has sold the 37,000-dwt Sea Bronze (built 2007) to a Vietnamese buyer for $11.5m. While lower than
Samos Steamship's Inglessis takes UK P&I Club chair Greek director takes over from Alan Olivier at insurer.
SDR refunds premiums for laid-up vessels German insurer also freezes fees in tough times for domestic sector.
Diana Shipping pays $63.25m to redeem notes Diana Shipping has set cash from a bond issue to work to repay established debt. New York-listed Diana closed a $100m bond issue in Oslo this summer and has now completed the redemption of a bond which was to fall due in 2020. It has paid $63.25m to redeem 100% of the notes.
Seaport Global positive on VLCC market recovery Seaport Global is backing the big tanker market to remain in balance next year following a stellar start to the fourth quarter boosted by seasonality and fresh sanctions against Iran. Analyst Magnus Fyhr says while investors are concerned about VLCC newbuilding delivered in 2019, he feels increased floating storage, scrapping ahead of IMO 2020 and rising US exports will assist the market next yea
Topaz snaps up Nam Cheong anchor-handlers Middle East owner boosts capacity as it returns to profit in third quarter.
Ship Finance International confirms sale of oldest tanker John Fredriksen-led Ship Finance International has confirmed that it offloaded its oldest tanker - but the buyer remains unknown. As TradeWinds previously reported, the Norwegian shipowner announced the $20.7m sale of the 300,000-dwt Front Ariake (built 2001) to an unnamed, but unrelated, company midday Tuesday. The deal includes a $3.4 million interest-bearing loan note from sister company Fron
Iranian sanctions 'really biting', says Paddy Rodgers Euronav chief explains the impact of changing trade patterns and idling of NITC fleet.
Nasdaq gives Globus Maritime thumbs up Globus Maritime is back in NASDAQ's good book. The Greek bulker owner said it was back in compliance with the exchange's $1 per share minimum closing bid price, after staying above the threshold from Oct. 15 to Oct. 26. Globus received word of its compliance in a letter Tuesday. The company's shares rose 0.9% to $6.14 in midday trading Tuesday.
NATO reports vessel hijacked off Congo Another ship came under attack in Gulf of Guinea, but is reported as safe.
Van Uden Shipping boss steers outfit to better times Julie van 't Hoff describes the challenges facing the Dutch group's shipping unit and details her rise to a managing director in the family firm
Euroseas preps stock sale and refinances in bid for expansion cash Euroseas is raising funds as it eyes opportunities to expand its fleet. The New York traded Greek shipowner announced Tuesday that it is looking to raise $4.2m through the sale of new shares. The company also revealed that in August, took out a $30m loan to refinance existing debt, in addition to help fund new acquisitions or provide working capital. "We constantly evaluate vessel purchase opp
Princess loses title after marrying NYK's Moriya Japan's Ayako no longer royal after ceremony with "commoner".
ICBC supramax stuck in Iran as sanctions loom Officials of giant Chinese bank's shipping department work to secure the release of detained vessel and avoid possible exposure to US measures
Bahri sees upturn in VLCC sector by mid-2019 Executive of Saudi shipowning giant says sanctions against Iran should spur improvement in crude tanker trades
Wilson buys six bulkers from Stromberg Norwegian owner takes control of cargoships it was chartering from compatriot.
Euronav puts scrubbers in the spotlight amid third quarter loss New York-listed shipowner raises three key objections to exhaust gas cleaning systems.
Hill Dickinson expands Hong Kong team Law firm adds Edward Liu and Antony Cowie as counsel.
Bohai Ferry orders $60m ro-pax double Chinese owner opts for Yantai CIMC Raffles for fleet expansion.
Laskaridis: no offshore push after PSV buy Greek owner confirms auction acquisition but says it is one-off.
DryShips to buy four ships from Economou News of acquisitions comes as diversified shipowner reports another profitable quarter.
Noble expects third quarter loss due to restructuring expenses Hong Kong-based commodities trader says nine month losses will likely top $300m.
Global Ship Lease sees third quarter profit cut in half US-listed container leasing firm hurt by weaker rates from non-CMA CGM chartered tonnage.
Global Ship Lease to merge with Poseidon Containers Combination will create a company with a fleet of 38 vessels focused on mid-sized and smaller vessels. a
Oil price drop gives breathing room but market not out of woods yet: IEA's Birol The recent drop in oil prices by around $10/b is a welcome change and gives breathing room to oil consumers, but the market is not out of the woods yet and the coming months will be very challenging, Fatih Birol, executive director of the International Energy Agency, said Tuesday.
Iranian VLCC Dover anchored off Batu Pahat, West Malaysia: cFlow The Iranian VLCC Dover was anchored and stationary off the coast of West Malaysia near Batu Pahat STS zone as of 0052 GMT Tuesday, having arrived Monday, at a time when all eyes are on Iran's crude and condensate exports with US sanctions snapping back in six days' time.
NYMEX contango eases after volatile session Contango in NYMEX crude futures eased in afternoon trading Tuesday, despite prompt-month declines across the oil complex.
TANKERS: Euronav upbeat on pre-IMO 2020 tanker market opportunities Dirty tanker owner Euronav believes it "should have the market rocking on our side" in 2019 and 2020, even without scrubber-fitted tonnage in the global 0.5% sulfur bunker fuel environment, a senior executive said during its third-quarter 2018 earnings call Tuesday.
Demand from Singapore for fuel oil leaves Europe short of product The European fuel oil market has become quiet dry as demand from Singapore has drawn vast volumes from typically net-long Europe, resulting in a spike in Suezmax freight rates, sources said Tuesday.
NWE M100 fuel oil slides on short cutterstock availability: sources Prices of Russian M100 fuel oil in Northwest Europe have begun to slide due to a lack of cutterstock in Europe and expensive gasoil, despite the active fuel oil arbitrage east.
China's Sinopec to supply first IMO 2020 compliant bunker fuel from Aug 2019 LSFO being produced is being sent to laboratories for testing, with the tests expected to run till February next year, a source said.
External: Marine Bunkering(Rotterdam)B.V.
Singapore front month HSFO time spread at 3-month high on firm fundamentals Going into 2019, the HSFO market will likely stay backwardated as the overall supply tightens with the upcoming IMO 2020 rule.
Cracking margins pilot Asian sweet crudes amid tepid year-end buying An oversupply of condensates and an influx of Vietnamese crudes weighed down on trading outlook, sources said.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
