Navy works to make all its ships stay the same shade of gray The U.S. Navy would prefer that its ships be just one shade of gray. Now, a pigment package designed by the U.S. Naval Research Laboratory (NRL) to slow discoloration of the exterior
Legislation seeks to free up funding for MKARNS upgrades U.S. Senators Jim Inhofe (R-Okla.) and John Boozman (R-Ark.), along with Governors Kevin Stitt (R-Okla.) and Asa Hutchinson (R-Ark.), announced provisions in America's Transportation Infrastructure Act that outline the future for modernizing
Scorpio Tankers loses less, gets scrubber financing Scorpio Tankers Inc. (NYSE: STNG) has reported its results for the three and six months ended June 30, 2019. For the three months ended June 30, 2019, the company's net loss was
Terral rebuilds boat it bought from Kinder Morgan Lake Providence, La., headquartered Terral River Service, Inc. reports that the M/V Lena Louise, a boat acquired from Kinder Morgan in 2017 and previously named the M/V Austin Stone, is back in
USCG starts formal investigation of fatal Augur lifeboat incident Rear Adm. John Nadeau, who recently took command of the Eighth Coast Guard District in New Orleans, convened a formal investigation last week into a fatal incident that occurred onboard Shell's Augur
Samsung Heavy gets DNV GL type approval for lithium-ion battery system Shipbuilder Samsung Heavy Industries (SHI) reports that it has received a type approval certificate from DNV-GL for a marine lithium ion battery system, jointly developed with sister company Samsung SDI. This is
Teekay Offshore cuts second-quarter losses Revenue stayed the same, but losses were significantly less than for the same period last year
Capital Product increases profit after tanker spin-off Net income rises to $7.8m for the second quarter, versus $4m in the same quarter a year ago
Navios Partners lines up $140m refinancing deal The new credit facility agreed this month, subject to final documentation signing, is with an unnamed commercial bank
Swedish Club doubles war risk premiums as Hellenic trims rates 10% 'Hellenic... is financially strong and in a very good position, and had a lot of members affected by additional premiums...
The Interview: Nick Shaw Nick Shaw got the job as chief executive of the International Group after only the second employment interview of his...
Pacific Basin still ripe for vessel acquisitions Hong Kong-based company operated an average of 230 smaller-sized bulkers in the first half of the year. It owns 115...
Yilport inks 49-year concession at Taranto 'Once we build relations with container lines, they will bring their cargo here. Then the business will peak. We foresee...
US leads talks on international naval mission to protect Hormuz shipping Germany is said to have already turned down a formal request from Washington to participate in a US-led naval mission...
Investment gains boost SIPG's profits Net profit for the port operator jumped more than 29% year on year to $635m for the first half of...
Charterers are the key to greener shipping An academic study has concluded that vessel charterers benefit more from trading opportunities than from saving the planet. Until that...
Tokyo and Paris MOUs launch emergency system inspection blitz One of the goals of the campaign is to ensure that ships are capable of responding appropriately and promptly to...
Japan's big three hit by lower dry bulk rates Product tanker rates set to rise because of an increase in demand for gas oil transportation before the 2020 sulphur...
Royal Navy reports 85 Iranian 'interactions' in Hormuz British naval ships have been directly escorting or accompanying UK-flagged ships through the energy commodities waterway throughout July, amid an...
Daily Briefing Clock ticking to avoid Brexit shambles | Singapore yards on recovery path despite tougher climate | EIA earmarks Europe as...
Stena Bulk expresses 'growing concern' for welfare of detained crew The company reiterated that there is no evidence of a collision involving the vessel as alleged by Iran
Singapore releases Kunlun LPG carriers One of the two liquefied petroleum gas tankers has left Singaporean waters and is headed for China, Lloyd's List Intelligence...
Golar and Exmar contest Leviathan FLNG project At stake is a term charter from the Noble-operated Leviathan project for the supply of Israel's first FLNG
ONE posts maiden quarterly profit ONE has revised up its forecast of profit for this fiscal year to $90m because of a stronger performance in...
Charterers 'behaving rationally' in rejecting virtual arrival clauses In theory, 'virtual arrival' would enable ships to reduce speed, and thereby emissions; in practice an academic study found charterers'...
Port of Boston sees impacts of Sino-US tariffs on container throughput The port's trade with China declined by 3.94% to $971.71m as exports dropped 20.36% to $138.76m, while imports fell only...
Coastal Oil Holdings handysize tanker sails to Norstar Shipping Singapore company takes control of product tanker, while sistership goes to Chinese interests
Chemical tanker Folk Beauty could take the prize at auction Folk Beauty expected to attract strong buyer interest when goes under the hammer in Singapore
Samos Steamship sheds oldest tanker Greek company said to have sold a 14-year-old aframax, just a few weeks after being linked to the purchase of a capesize
Oman Shipping makes $46m entry into ultramax bulker market Busy year continues for shipowner with two-unit purchase
Prelude, Ichthys bad for VLGCs but good for smaller LPG carriers Australian LPG exports are set to rise from the two projects, cutting tonne-mile demand but potentially boosting regional trade
Coalition members to bear the burden in US group It would be 'an 80 or 90 percent coalition effort and a much smaller US effort'
Shipping lifts NYK into black for second quarter NYK's bulk shipping and liner segments were enough to pull the company's second quarter results out of the red. The Japanese shipping giant reported Wednesday an $88m (¥9.5bn) profit for the second three months of 2019, the first quarter of NYK's fiscal year. NYK goes cashless with new crew app NYK Line set to nudge up berths at Hyundai Samho For the quarter, the company's liner trade segment
Shipping leaders urge delay to Panama Canal toll hike Lobby warns that implementation on 1 January will have 'negative impact'
Navios Partners seals new $140m loan and strikes two leaseback deals While profits slump, the partnership has sold a capesize and a panamax and has refinanced other vessels
Scorpio Tankers tracks rates from 'nowhere land' to IMO 2020 promised land Scorpio Tankers executives today set out how the spot market should pull away from its present "nowhere land" in the "dark days of summer" and move towards the promised land of IMO 2020. The New York-listed shipowner also revealed it has no plans to avoid the Strait of Hormuz, following the seizure of the 50,000-dwt Stena Impero (built 2018). Scorpio Tankers inks $87m in scrubber finance with fu
LNG carriers snapped up for multi-month business Energy majors and traders home in on vessels as activity picks up for winter coverage and beyond
Court battle ensues over Chilean FSRU-based LNG project Original developer accuses two former partners of snatching a planned LNG import terminal near Concepcion from him and associates
Reshaped Capital Product Partners sees profit spike Capital Product Partners has greatly improved its bottom line in the second quarter. The Jerry Kalogiratos-led owner posted a $7.89m profit for the second quarter versus $4.02m during the same period last year. Earnings per share came in at $0.44, beating Wall Street consensus of $0.43 and last year's figure of $0.08. Mediterranean Shipping Company strikes long-term deal for Capital Product pai
Ship sale hits Ardmore Shipping in second quarter A seasonal downturn and the loss from a May ship sale held down Ardmore Shipping's second quarter earnings. The New York-traded shipowner posted a $9.9m loss on Wednesday, versus an $8.6m loss for the same period the year prior. Ardmore Shipping said to have sold oldest tanker on its fleet Narrowing NAV gap could herald pick-up in shipping investment The performance came in a quarter where Ard
Eagle Bulk Shipping eyes growth options after six-ship deal Eagle Bulk Shipping has left the door open for further growth and mergers-and-acquisition activity after netting more than $114m to fund its second major enbloc transaction in under three years. Nasdaq-listed Eagle Bulk raised the capital from a convertible notes issue, with the backing of its two major investors, and is set to spend $122m on the new vessels, which will all be fitted with scrubbe
Figures that should set alarm bells ringing over ship safety standards Industry's shameful record prompts nations across Europe and Asia to launch clampdown on vessel emergency systems and procedures
Scorpio Tankers inks $87m in scrubber finance with further bank talks underway Scorpio Tankers has struck loans worth $87m to support a vast programme to fit scrubbers on its ships. It is also in talks to secure an addition $35m in debt to back a $120m project to meet IMO 2020 requirements. Scorpio's Bugbee and Deutsche Bank's Mehrotra go head to head over share sale strategy Scorpio Bulkers books strong results as it takes on tonnage New York-listed Scorpio Tankers reve
Kristian Siem steps back on to Siem Offshore board Eystein Eriksrud is vacating all of his executive positions within Siem Group companies
Repsol to build LNG bunker stations for Brittany Ferries newbuildings First of three LNG-fuelled ropax now set for delivery at end of this year
Ship Finance International taps into bond for extra cash John Fredriksen's Ship Finance International has tapped into an existing bond for additional capital. John Fredriksen's Ship Finance International banks $80m bond purse New York-listed Ship Finance has added NOK 100m ($11m) from a bond set for maturity in September 2023. The tap is a small chunk of capital for a company which invested around $1.2bn last year across a number of notable transacti
Kawasaki Heavy Industries reports shipbuilding loss Profits are down but Japanese yard builds up orderbook
Shortage of big containerships sparks resurgence in market Charter rates defy usual seasonal slump to hit a new high for this year
Ancient cargoship routes discovered in South Pacific On Watch: TradeWinds' weekly column taking a sideways look at shipping news
Another big loss but board says Kristian Gerhard Jebsen outfit is in 'good financial standing' Shipowner Kristian Gerhard Jebsen Skipsrederi (KGJS) has suffered heavy losses for the third year in a row, but the board insists it is "in a satisfactory and good 'financial standing". The Bergen-based company has just made the results for 2018 publicly available and they show a pre-tax loss of $86.6m, against a $165.8m loss the previous year. Leading in tankers KGJS made a huge impairment on
Greek handysize bulker buying picks up steam in July At least five small bulkers acquired by Hellenic buyers last month
Teekay Offshore Partners cuts second quarter loss Teekay Offshore Partners has cut its second quarter loss thanks to a sharp reduction in impairments and a profitable sale of vessels this time around. Brookfield-backed Teekay Offshore saw its bottom line loss run to $28m for the three months to the end of June, some way ahead of the $168m loss last time around. Ingvild Saether, chief executive of Teekay Offshore, pointed to "another good operat
Former Remi Maritime ship auctioned online in Greece A 10-year-old supramax bulker arrested earlier this year by the National Bank of Greece went under the hammer in the northern port city of Thessaloniki on 24 July, TradeWinds has learned. A single offer of just $5 more than the reserve price of $9m won the 57,000-dwt Blue Cat (built 2009) in an electronic auction. The buyer's identity was not revealed. Some brokers believe the ship was acquired b
Borr Drilling sights up to $52.4m from New York's first offshore IPO since 2014 Tor Olav Troim's Borr Drilling is set to raise up to $52.4m from its initial public offering in New York which will end a half-decade drought for fresh offshore listings in the US financial capital. Borr priced its offering of five million shares at $9.30 each, with a further 750,000 shares set aside for its underwriters. Tor Olav Troim's Borr Drilling looks to fetch $50m from New York listing
Baltic Exchange in shipping emissions data project with GeoSpock Diversification on the cards as exchange adds to big data to its freight indices services
Golden Energy Management inks $150m tanker deal with STX Golden Energy's newbuildings will be fitted with scrubbers and built in South Korea to the latest IMO NOx Tier III emissions standards
Limited protection from swapping UK flag in the Strait of Hormuz Reflagging or dual registration of British-registered vessels passing through the crowded waterway may not be the solution in a time of rising international tensions
Mitsui OSK Lines powers to profit on turnaround at ONE Japanese shipowner said containership operation saw significant improvement in liftings
Reduced red ink at ONE helps K Line book profit Japanese owner back into the black as other key divisions also post improved profitability
Chevron backs Enterprise's Texas VLCC export terminal Pipeline operator says tie-up with US oil major supports projects final investment decision
Democrat presidential hopefuls talk trade Tariffs and USMCA were among the topics discussed during Tuesday night's presidential debate.
GSC Logistics scores success with imports Handling about 12% of the Port of Oakland's imports, the drayage and warehouse company wants the port to preserve its recent success.
DSV outgrows market despite soft air demand The forwarding and logistics company moved 6% more containerized sea cargo in the second quarter and has received approval of its merger with Panalpina.
FUJAIRAH DATA: Refined product stocks fall 5.8% on heavy distillate decline "Activity in Fujairah has picked up, with availability of bunker barges at the port tightening as a result," the report said.
Japan's K Line secures compliant fuels in main bunker hubs as IMO 2020 nears K Line has also completed trials of such fuels on multiple vessel types as the IMO 2020 deadline drew closer.
Singapore delivered MGO premium retains strength after a month of MFM mandate "Premiums are likely to hold steady as more demand emerges ahead of IMO," a supplier of MGO said.
FUTURES: Crude rises on bullish US stock data, geopolitical risks Tension in the Middle East remains high, with Iran and France starting discussions about the nuclear deal, ANZ analysts said.
Falling Rhine levels risk distillates crunch as IMO 2020 looms "It is tight indeed, especially up to Basel, not many barge owners want to go there with water levels dropping," a barge source 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
