Jeff Johnson to be President of Cook Inlet Tug and Barge Jeff Johnson has been named President of Anchorage, Alaska, headquartered Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime. He will take up the position in June 2019.
Solstad PSV contract wins include two year Shell Brasil charter Skudeneshavn, Norway, headquartered Solstad Offshore has signed a contract with Shell Brasil Petroleo Ltda (Shell) for the PSV Normand Starling, a 4,000 dwt STX PSV 08 CD delivered by the shipbuilder in
Conrad reports 2018 results and backlog Morgan City, La., headquartered shipbuilder Conrad Industries, Inc. (OTC Pink: CNRD) yesterday reported its 2018 results and backlog. The company had net income of $198,000 and earnings per diluted share of $0.04
FRP hulled pilot boat meets Canadian owner's need for speed Canada's Sea Legend Pilotage is set to take delivery of a composite FRP hulled Stan Pilot 1605 that will achieve a speed of 29 knots compared with the 20 knots of its
Maersk to retain full ownership of OSV subsidiary A.P. Moller - Maersk's Board of Directors has decided to retain full ownership of Maersk Supply Service. This is probably more an indication that no suitable buyer could be found rather than
US urges marine insurers to adopt North Korea AIS switch-off clauses Sanctions evasion thought to be relatively frequent, with Pyongyang regime ready to go to great lengths to ensure continued supplies...
Flexport launches data-informed ocean freight consolidation service New service seeks to match shipments to reduce loading and unloading times
Cosco Shipping says outlook is at risk from higher oil prices and trade disputes China's container shipping giant looks for better times in 2019 but warns of risks ahead
Traditional navigation remains key in digital world Latest edition of Admiralty Manual of Navigation puts electronic systems at centre stage, but retains a focus on traditional principles
Vale forecasts iron ore sales higher than production Vale is estimating iron ore sales volumes at 307m to 332m tonnes this year
Corpus Christi approves Harbor Island lease The plans call for a petroleum export terminal capable of fully loading suezmax vessels and nearly fully loading VLCCs on...
Lloyd's Register confirms oil-tech has converted HFO to VLSFO Lloyd's Register confirms Genoil's converted fuel meets 2020 sulphur cap without investment in refining facilities
Chinese rival challenges Singapore for bunkering business On Monday, Lloyd's List will publish the counter view from Singapore in which we will explore why it is difficult...
Noatum Ports rebrands as CSP Spain Cosco Shipping Ports took a majority stake in Noatum Ports in 2017, as part of a $224m deal agreed with...
European Shippers' Council defends survey results European Shippers' Council defends quality of its customer satisfaction survey and calls for carriers to engage in dialogue
MOL ties up with Turkish power firm on floating LNG power solutions MOL has investments in LNG bunkering and FSRUs, while Karpowership produced its first floating power plant in 2007 and owns...
GRIs halt transpacific rate slide Asia-US west coast and Asia-US east coast spot rates on the SCFI have climbed to $1,626 and $2,634 per feu...
Maersk cancels sale of offshore service unit Maersk Supply Services is to remain on the books as a continuing operation after a fruitless two-year search for a...
K Line seals $406m long-term loan with Japanese banks The loan carries a middle level risk rating from Japan Credit Rating Agency and lenders include Mizuho Bank, Development Bank...
PSA names former Shell chief as chairman Incoming chairman Peter Voser will seek a sustainable growth trajectory for the group while helping it develop in the supply...
The Interview: Stephen Ashworth Hutchison Ports Thailand managing director Stephen Ashworth says Thailand is the best place to invest in technology. 'The Thais have...
Another LNG bunker breakthrough order for GTT GTT says the order placed by SembMarine came less than one year from reaching a license agreement with the yard...
The Lloyd's List Podcast: Total talks 2020 Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
DSME names Lee Sung-geun as chief executive The appointment comes as Daewoo Shipbuilding & Marine Engineering is being taken over by South Korean shipbuilder Hyundai Heavy Industries
Trump administration ramps up pressure against Venezuela The US wants to stop deliveries of gasoline and other refined petroleum products that can be used to dilute Venezuela's...
CSSC and CSIC restructure as merger talk heats up Analysts expect the moves to pave the way for a long-awaited marriage between the two conglomerates
California rewards carriers for reducing speed to improve air quality and save whales Despite these efforts, the number of whales killed by ships off the coast of California nearly tripled in 2018
West Mexico LNG terminal gains approval to export US gas The project in the Mexican state of Sonora has access to a deepwater port and multiple pipeline connections to the...
Shoreham chief executive Rodney Lunn to step down After 10 years running the south of England port, Mr Lunn will leave at the end of 2019 once a...
Nordic American Tankers launching $40m at the market offer Nordic American Tankers has readied a $40m at the market offering, the latest in a fundraising spree from the Herbjorn Hansson-led company. The tanker owner announced after the close Friday that it intends to sell another 19.6 million shares through B Riley FBR, adding to its 141.9 million outstanding shares. Nordic American Tankers repeats scrubber stance amid reports of Norwegian ban Nordic A
StealthGas to repurchase shares, satiate investors StealthGas hit the road this week, trying to drum up new investors in New York, sweetening the pot with promises of buybacks and fleet growth. According to Jefferies analyst Randy Giveans, who accompanied StealthGas to the meetings, the Harry Vafias-led company was looking to sell investors on its "attractive valuation" and a positive outlook for the LPG sector. Blast from the past as Vafias plo
Chevron moves for China VLCC in firming market China VLCC has taken advantage of a rising tanker market to lock a VLCC into a period deal with Chevron at a 10% premium to the previous comparable deal. Vitol linked to VLCC charter for Venezuela-China voyage The US oil major has taken the 318,000-dwt New Triumph (built 2015) at $33,000 per day, according to shipbrokers. Chevron officials declined to comment. The Chinese owner ordered the Ne
Former Gotaas-Larsen executive Alf Clausen dies at 80 Norwegian shipping executive Alf Clausen has died at 80. Monaco-based Clausen worked for shipowner Gotaas-Larsen for 22 years after working at Norske Veritas. At Gotaas-Larsen, he became co-managing director with Richard Fain, the current CEO of Royal Caribbean Cruises, in 1977 and was sole managing director from 1988 to 1993. He continued at Gotaas-Larsen as executive chairman until 1995. T
Cosco posts weaker 2018 results for tanker, box and financing operations Chinese state conglomerate saw profitability eroded by weaker market conditions amid uncertainty.
PDVSA opens tenders for five tankers Venezuelan state oil company PDVSA is looking to secure five more tankers on charter after its fleet was hit by US sanctions. The company is also seeking to extend deals for three more ships, according to sources and PDVSA reports cited by S&P Global Platts. Latvian Shipping and Torm lead Venezuela product tanker trade "PDVSA requires as soon as possible three vessels for LPG, two aframaxes, tw
Tsakos Energy Navigation set to ship out five older tankers Tsakos Energy Navigation has lined up five older tankers for sale as it gets set for the delivery of a number of newbuildings. Tsakos Energy Navigation fixes out its two LNG carriers Morgan Stanley downgrades Tsakos Energy Navigation as debt repayments rise Tsakos Group books latest suezmaxes with Hyundai New York-listed Tsakos has booked a writedown against the vessels in its fourth quarter r
Vale's iron ore supply disrupted until 2024 The supply disruptions are just one part of the shifting picture for iron ore market fundamentals
Navios Maritime Acquisition sells oldest VLCC to Nathalin Navios Maritime Acquisition, a US-listed vehicle of Greek shipowner Angeliki Frangou, has shed its oldest VLCC to Thailand's Nathalin -- a serial buyer of such ships. The 298,600-dwt C. Dream (built 2001) has joined the fleet of Nathalin subsidiary Prima Marine, under as Crystal Star, online shipping directories show. Broker reports in Greece and the UK suggest the deal was agreed earlier this w
John Fredriksen's Frontline excited by upside-down VLCC market in 2019 John Fredriksen's Frontline is bullish about the prospects for the VLCC market at a time that it expects seasonal patterns to defy conventional wisdom. Frontline scouts for tanker deals with asset prices only going one way Case highlights 'massive misvaluation' of shipping companies in capital markets Chief executive Robert Hvide Macleod said rising US exports are offsetting Opec cuts, while th
Jan Egil Roald joins Affinity as Richard Fulford-Smith strengthens Norwegian team Richard Fulford-Smith's Affinity (Shipping) has recruited Norwegian shipbroking veteran Jan Egil Roald as part of an expansion in Norway. Former Platou and Arctic Shipping man Roald will be joined in Affinity's Oslo office by newbuilding broker Petter C Arentz, who is relocating from London. Fulford-Smith builds Affinity with Platou hands "Petter and I had known each other since we were 11 or
Canada's Chamber of Marine Commerce gives thumbs up to pilotage shake-up Hourly cost of pilotage on St Lawrence River exceeds that of entire vessel crew, claims CMC
Uljanik Plovidba directors resign after arrests Two executives of Croatian shipowner Uljanik Plovidba have quit following their arrests in relation to a probe into "financial damage" at unrelated shipbuilder Uljanik Group. The tanker and bulker owner said its director Dragutin Pavletic had tendered his resignation, while Anton Brajkovic, deputy president of the supervisory board, later did the same. No mention of the shipyard investigation wa
Traders will drive shipping's next big digital movement As margins come under increasing pressure, the world's biggest commodities traders will push the market to react with greater speed and at lower cost
Hurtigruten picks Hoglund for biofuel systems Hoglund has won a contract to deliver biogas-ready fuel gas supply systems (FGSS) for six Hurtigruten ferry retrofits. Dead fish to power Hurtigruten cruiseships It will work with HB Hunte Engineering to design and engineer fully customised tank and FGSS solutions. The vessels are optimised to run on both liquefied natural gas (LNG) and liquefied biogas (LBG). They will work in tandem with lar
Shell contracts Solstad PSV for Brazil work One of Solstad's platform supply vessels (PSVs) has won a two-year contract with Shell Brasil Petroleo in Brazil. Solstad faces comprehensive restructuring The 4,000-dwt Normand Starling (built 2013) be employed in supporting Shell's activities in Brazilian waters from the second quarter onwards, Solstad said. Separately, two unnamed Solstad PSVs have been taken on charter by an unidentified
PSA appoints ex-Shell CEO as new chairman Singapore ports operator PSA International (PSA) has appointed former Shell CEO Peter Voser as its new chairman. It said incumbent Fock Siew Wah will step down on 1 April. He will become special advisor to PSA until his retirement on 31 July. Voser is currently deputy chairman. PSA said Fock has steered PSA with "visionary leadership and strategic foresight" since August 2005. Volumes have
LR says new kit can turn HSFO into LSFO Lloyd's Register has witnessed a new method of turning conventional bunkers into IMO 2020-compliant low-sulphur fuel oil (LSFO). US technology company Genoil has developed a hydro-conversion upgrader (GHU) that cuts the sulphur content from 1.72% to 0.38%. It uses fixed-bed reactor technology and can be built alongside existing refinery infrastructure in major bunkering hubs. Clarksons: markets
One of final Uddevalla ships heads for scrap as Perenco sells FPSO One of the last ships built at the Uddevalla shipyard in Sweden has been sold for scrap. The 229,000-dwt 229,000-dwt Conkouati (built 1973), owned by Perenco of France, has been operating as a FPSO. Sunset for Sunrise as 42-year-old LNG carrier scrapped Sources say the ship has fetched a price of $220 per ldt or $8.7m. Uddevalla was a leading shipbuilder of its day but ran into financial dif
Glencore seals financing worth $10bn Swiss trader and shipowner Glencore has arranged a huge new financing package worth nearly $10bn. The mammoth 12-month deal refinances and extends $9.085bn of revolving credit facilities from 24 May this year. Glencore launches $2bn buyback It was initially looking to raise $8bn, but the fundraising was "substantially oversubscribed" at $10.55bn, it said, reflecting strong support from its broa
HCB doubles new shipping loans to $1.1bn Newly privatised Hamburg Commercial Bank (HCB) doubled its new shipping business in 2018 as provisions shrank. In its finalised report for 2018, the lender said it agreed new shipping loans worth EUR 1bn ($1.12bn), up from EUR 500m in 2017 and up EUR 100m from its previous earnings release in February. Loan provisions were cut to EUR 316m against EUR 2.08bn in 2017. It said it set aside the amo
AP Moller-Maersk aborts plans to sell final energy arm Maersk Supply Service AP Moller-Maersk has aborted plans to sell its offshore support vessel division and will no longer completely exit the energy segment as part of a high-profile strategic shift. The move comes amid suspicions Maersk's top brass had become frustrated at the pace of its transition from a conglomerate to a transport and logistics specialist and efforts to accelerate the process. Maersk Drilling sets
Malta recaptures tanker seized by migrants The Maltese army has taken back control of a tanker hijacked by migrants off Libya on Wednesday. Migrants hijack bunker tanker off Italy The 846-dwt bunker ship Elhiblu 1 (built 2015) docked in Valletta on Thursday with more than 100 migrants on board. The group had been rescued by the vessel off Libya, but seized control and headed to Malta after being told they would be heading back to the Af
Bankruptcy looms as Uljanik rescue plan rejected The Croatian government will not back a $1bn-plus restructuring plan for struggling shipbuilder Uljanik Group, prompting fears of its bankruptcy. The state rejected what it called the financial burden of the rescue amid doubts the proposal would turn the yard company's fortunes around, Reuters reported. In the absence of an alternative deal, a local commercial court will deliver a bankruptcy rul
PaxOcean gives Singapore's big yards capesize competition Yard group is upsizing in Batam with the purchase of a giant floating dry-dock.
New DSME CEO steps into the frame Sung-Leep Jung retires today as Sung-Geun Lee prepares to take up the baton Monday.
K Line fixes $407m loan over 35 years Japan's K Line has arranged financing worth JPY 45bn ($407m) that matures over 35 years. The subordinated loan means creditors will rank behind others in the queue for their money should something go wrong at the giant owner. K Line said the cash will develop its core businesses through its ongoing "rebuilding portfolio" strategy, with the aim of expanding stable income and achieving sustainable
MOL and Karadeniz team up on FSRUs and powerships Japan's MOL and Turkey's Karadeniz group are collaborating in the FSRU and powership business. The giant shipowner and Karadeniz's Karpower International (Karpowership) have formed a venture called Karmol to co-invest in assets and market its solution in selected markets around the world, they said. MOL and Karpowership set to team up on FSRU for floating power plant The business will generate
Seizures and sales see Coastal Oil's fleet reduced Creditors of failed Singaporean fuel trader Coastal Oil have targeted another of its bunker tankers with an arrest warrant.
National Bank of Fujairah loses patience with Folk Shipping Tanker owner Folk Shipping has blamed a long-running commercial dispute with oil trader Mena Energy as the cause of a cash crunch that led to the arrest of one of its tankers in Singapore at the end of last week. The National Bank of Fujairah arrested the company's 15,200-dwt chemical tanker Folk Beauty (built 2010) last Thursday after filing an AED 45.2m ($12.3m) claim against the ship in the Hi
Maritime History Notes: Santa Eliana, a ship with a story The vessel's role in the Vietnam War is just part of the saga told by the chairman of the Maritime Industry Museum.
Port of New Orleans to buy new gantry cranes
Hapag-Lloyd seals ship's oil leak
European Shippers Council demands changes to liner shipping regulation
U.K. legislators reject May's Brexit agreement
WTO Appellate Body: Mixed findings on U.S. aircraft subsidies
"K" Line raising $406 million
Port of Corpus Christi OKs 50-year lease with joint venture
Coast Guard adds security to ships from Seychelles
WTI settles at four-month high amid supply headwinds Oil futures settled higher Friday as markets continued to eye a tightening global supply outlook
VLCC USGC-China paper trades up for Q1 2020 on US export expectations The 270,000 mt VLCC USGC-China contract traded for first-quarter 2020 for the first time ever Friday on the Intercontinental Exchange
US to extend Iran oil sanctions waivers to China, India, Korea, Turkey The US in early May will likely extend expiring sanctions waivers
Europe Q4 fuel oil crack weakens further on IMO 2020 preparations The fuel oil crack spread for the fourth quarter of 2019 showed significant weakness Friday afternoon in Northwest Europe compared with the third quarter
ARA fuel oil stocks build 8% on week amid closed arb, loading delays Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp hub were up by 8% on week to 836,000 mt as of Wednesday, according to data from PJK International
Singapore-flagged barge 'believed' to have transferred fuel to N Korean tankers Sea Tanker II (IMO 9664483) was on a list of 18 vessels believed to have engaged in illicit STS transfers of refined petroleum with North Korean tanker vessels, Annex 4 of the advisory issued March 21 showed.
Singapore 380 CST HSFO cash differential slips into discount on supply glut
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