US ruling ends D'Amico Dry's decade-long legal battle Dispute between Italian and Greek owners dates back to era of global financial crisis. D'Amico entitled to payout on out-of-money...
Ocean Infinity joins hunt for Stellar Daisy wreck The search, which is taking place almost two years after the very large ore carrier sank, will be carried out...
Brexit ferry contracts leave Seaborne Ferries and UK government with a point to prove Seaborne Freight - the 'start-up' with no ships aiming to re-open the Ramsgate to Ostend ferry route - has a...
Samskip takes lead on zero-emission shipping project State-funded Seashuttle project aims to pioneer advanced technology in shipping and has linked up with several partners
Fortunes turn for West African box trade The dominance of the major European carriers in West Africa suggests they have the most to gain as strong growth...
Sovcomflot orders product tankers at Russian yard The three vessels will be on long-term charter to Novatek
Ince & Co offices in key shipping centres not immediately part of takeover The long-term intention is eventually to bring all existing affiliates into the fold
Shipping stocks tipped to prosper from IMO 2020 While the median shipping stock fell 32% in 2018 related to trade wars, tankers gained 11%, Clarksons said in a...
Cosco Shipping acquires strategic stake in Beibu Gulf Port BGPC oversees three major local ports in the Guangxi province that serve as an important gateway of China's Belt and...
Daily Briefing India seeks bunker suppliers and cuts palm oil duty | UK minister defends Brexit contracts | Brightoil secures financing |...
Offtake secured for Rovuma LNG 'Affiliated buyer entities of the partners' behind the offtake commitments that will be finalised in weeks. Project is in Area...
MOL fire: three crew feared dead, two others missing Sixteen of the vessel's 21 crew were rescued by nearby merchant vessels
Evergreen places $130m boxships order at Jiangnan Shipyard Jiangnan is said to be more flexible in meeting the shipowner's demands for customised designs
India cuts import duty on palm oil Import duty been reduced to 40% for crude palm oil from Asean countries and 45% for refined palm oil from...
Indonesia's Medco Energi in takeover talks with Ophir The merged entity would have combined output of 110,000 barrels of oil equivalent per day, while the proposed merger also...
Indian Ports Association issues tender for bunker suppliers The empanelment of suppliers will be for a period of three years
Brightoil nets $700m financing from CNOOC Move comes after Brightoil secured charter hire for nine of its tankers from Shell in November
Peabody Energy sees substantial coal export potential at Mobile Peabody is focused on adding more seaborne metallurgical coal to its portfolio of export commodities
Class societies spot big savings as drone surveys take off Aerial technology is becoming an essential inspection tool
US and China risk new cold war with division of global trade As 'Chimerica' fades, shipping needs to prepare for a reshaping of world maritime networks
Sorensen sues former employer NAT over pension Turid Moe Sorensen, the former chief financial officer of Nordic American Tankers (NAT), is suing the company over her pension entitlements. Sorensen claims NAT is not complying with an agreement signed in 2010 that established her pension as 66% of her salary. In the five years to 2017 when she left the company, Sorensen earned on average NOK 5.5m ($680,000) per year. Last April, TradeWinds r
Capesize rate climb brings unusual seasonal cheer to bulker market An unusual climb in the capesize market over Christmas has helped the Baltic Dry Index open 2019 on the up. Dry bulk bull run gathers pace Clarksons Platou Securities analysts calls 'new dawn' for shipping stocks in 2019 Capesize rates were today pegged at $15,344 per day by the Baltic Exchange in the first trading day of the New Year. Cleaves Securities notes the figure marks a 4% climb from
Golden Ocean buys back nearly $150,000 in shares John Fredriksen-backed bulker owner makes move as part of share repurchase programme.
Bulgaria's Meteor rises with third supramax buy Varna-based player maintains expansion course with purchase of the Navios Armonia
Jinhui Shipping and Transportation continues supramax bulker sales Jinhui Shipping and Transportation has struck a deal to sell a supramax bulk carrier for $7.38m. The Oslo and Hong Kong-listed owner did not identify the specific vessel and its buyer has not been disclosed. Jinhui Shipping shares jump on first dividend in a decade The deal is the latest in a series of sales by Jinhui as it sheds older tonnage from its fleet. It sold four supramaxes during 2
Gordon Dadds completes slim-lined Ince & Co takeover Gordon Dadds Group has completed the acquisition of law firm Ince & Co, with the final deal a less expansive and slightly cheaper version of what was initially slated. How Gordon Dadds' acquisition of Ince was made in Hong Kong Ince & Co bought by Gordon Dadds for $44m The revised terms came after Gordon Dadds failed to come to arrangements with members of Ince's network of international affili
Dry bulk bull run gathers pace Earnings are expected to firm further in 2019 on healthy vessel demand growth and limited supply expansion
DHT Holdings in $5m pre-Christmas share buyback VLCC owner DHT Holdings has picked up over $5m worth of its own shares in a pre-Christmas buyback. Andreas Sohmen-Pao strikes again for BW LPG shares DHT Holdings sees 'very promising' VLCC market outlook New York-listed DHT says a total of 1,228,440 shares have been repurchased and retired. The $5.03m move is part of the company's $50m securities repurchasing programme, which runs until March
Sovcomflot signs first LNG-fuelled product tanker newbuildings order Contract for MR series at Zvezda follows aframax deal with the same yard in September
Clarksons Platou Securities analysts calls 'new dawn' for shipping stocks in 2019 Clarksons Platou Securities called a new dawn for shipping equities in 2019, tipping stocks to recover from a year in which Donald Trump's trade war with China dented pricing. It comes as analysts led by Frode Morkedal believe the arrival of IMO 2020 rules, coupled with orderbooks at the lowest in around two decades, could make this year when the stars align for the industry. Frontline and Hunte
Post-panamax is Veniamis' first buy in more than year Golden Union emerges as buyer of Japanese-held post-panamax
Dynagas Arc7 LNG ship leaves yard for second time Ice-breaking vessel makes fresh passage for Northern Sea Route after DSME layover
Ten missing, one dead after cargoship sinking Four seafarers have been recovered after Taiwanese-controlled vessel went down off the coast of China.
Evergreen Marine scraps veteran boxship brace Evergreen Marine has sold two 1990s built container vessels for demolition, sources say. Evergreen inks maiden newbuilding order in China It has sold the 5,364-teu Ever Ultra and the 1,296-teu (both built 1996), sources say. It is believed the larger vessel went for $425 per ldt or $10m. The smaller ship is said to have fetched $380 per ldt or $2.6m. Evergreen has been busy renewing its fleet
Shipowners raised $7.9bn from capital markets in 2018 After difficult year for global stocks Fearnleys says there are "fortunes to be made in shipping in 2019".
Eurotankers of Greece in $6.5m LR1 demolition deal Greek shipowner Eurotankers is for the first time selling a 2000-built tanker for demolition. Eurotankers tied to fourth second-hand purchase of 2018 The 71,000-dwt Eurovision (built 2000) has been sold as is in Singapore for $425 per ldt or $6.5m, sources say. The tanker was purchased in October 2016 for $9.7m from Ernst Jacob. Eurotankers, which did not respond to requests for comment, is li
Solstad Offshore nets contract extension for anchor handler One of Solstad Offshore's anchor handler's has secured a contract extention. Norwegian trio leads pack for Toisa subsea newbuild pair The 258-tbp Far Statesman (built 2013) will stay on at ENI for another five months to support the Italian company's offshore drilling operation in Indonesia. The anchor handling supply vessel was first leased to ENI in July. Last winter, the ship was employed in
Euronav in $4m Christmas share buyback Crude tanker heavyweight Euronav was busy investing in its own stock during the Christmas period. Tanker deals on the rise during active 2018 Opec cuts would take the icing not the cake, says Jeff Pribor It spent €3.47m ($4m) as part of a wider share repurchasing programme at a time of turbulence for global equities. In all Euronav bought 545,486 of its own shares over a period of 10 days up u
Clarksons forecasts LNG newbuilding orders to rise further in 2019 Projection is good news for top three Korean yards, who all hit order targets in 2018.
Ocean Infinity to search for VLOC Stellar Daisy Firm behind unsuccessful hunt for missing MH370 airliner, now set to look for lost Polaris bulk carrier.
Prospects are positive for 2019 despite uncertain times ahead Amid increased concern of slowing global trade growth and slumping stock markets, the maritime industry is heading into a new year with cautious optimism for the coming months
Japanese car carrier suffers blaze in middle of Pacific Five crew members of Shoei Kisen-owned PCTC feared dead after fire leaves vessel powerless.
Livestock carrier with 'stability issues' arrives in Singapore Repairs to Panama-flagged vessel set to focus on fresh water tanks and pumping systems.
US crude terminal LOOP sees increase in storage contracts sold in January auction The Louisiana Offshore Oil Port saw an uptick in the amount of LOOP Sour crude storage contracts sold in outright amounts and the percentage of contracts put for sale.
OPEC-led cuts should rebalance oil market in first quarter: UAE The OPEC-led deal to cut 1.2 million b/d from the start of January should bring balance back to the oil market in the first quarter, the UAE's energy minister Suhail al-Mazrouei said Tuesday.
Nigerias desperate quest to banish oil sector inertia Nigerias output will get a much needed boost with the startup of the 200,000 b/d Egina oil field which could take production, OPEC dependent, up to a decade high of 2.3 million b/d.
Germany's mothballed Wilhelmshaven to restart unit this year According to traders, it is the vacuum distillation unit which is likely to be restarted in 2019 and used for producing low sulfur fuel oil ahead of the 2020 International Maritime Organization requirement for low sulfur bunker fuel.
Gibraltar bunker operations in Nov at lowest since March The number of bunkering operations at the Mediterranean hub of Gibraltar fell to 448 in November, the lowest level since March.
Marine fuel 0.5% cargoes bid, offered in Platts Singapore MOC process on launch day Platts assessed FOB Singapore 0.5% cargoes at a premium of $44.5/mt to Singapore HSFO, equivalent to about $371/mt.
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